Location: Williamsburg County, SC | Metro: Georgetown County, SC
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $830 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,300 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $182,755 | 0.6% | F |
| 3BR | $1,300 | $278,147 | 0.47% | F |
| 4BR | $1,750 | $467,851 | 0.37% | F |
| 5BR | $2,030 | $1,853,628 | 0.11% | F |
U.S. Census Bureau data (2024)
The analysis of the Section 8 program in ZIP code 29440, which encompasses Georgetown, South Carolina, reveals a significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the fiscal year 2026 is set at $1,080, while the Census ACS data indicates an average market rent of $912. This discrepancy amounts to a $168 difference, or approximately a 18.4% premium that landlords can charge through participation in the Section 8 program.
The higher FMR compared to the market rent makes this area a prime yield play for landlords and small-portfolio investors. Voucher tenants under the Section 8 program provide a guaranteed income stream that exceeds the local market rate, thus offering a higher return on investment. Given that only 17.8% of residents in Georgetown are renters, there is a relatively low competition among rental properties, making it easier for landlords to attract voucher holders.
In the context of Georgetown, where the median home value stands at $248,143 and the median household income is $56,124, the $168 premium on rents is particularly advantageous. It allows landlords to not only cover their costs but also to generate a profit above what would be earned from traditional market-rate tenants. This is especially relevant given the economic conditions of the area, where a substantial portion of the population may struggle to afford market rents without assistance.
However, participating in the Section 8 program also comes with certain considerations. Landlords must ensure that their properties meet HUD's Housing Quality Standards (HQS), which can involve additional maintenance and compliance costs. Despite these requirements, the financial benefits of receiving higher rent payments compared to the open-market rates make the program attractive for those willing to comply with the stipulated regulations.
To summarize, the gap between the FMR and market rent in Georgetown, SC, represents a strategic opportunity for landlords. By accepting voucher tenants, they can capitalize on the 18.4% premium, enhancing their profitability in a region where renting is less common and median incomes are lower relative to home values.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.