Section 8 Fair Market Rent (FMR) for ZIP 29445 - 2027

Investment Score for ZIP 29445

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,600
1 Bedroom	$1,670
2 Bedrooms	$1,820
3 Bedrooms	$2,260
4 Bedrooms	$2,600
5 Bedrooms	$3,016
6 Bedrooms	$3,378
7 Bedrooms	$3,648
8 Bedrooms	$3,830

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,820	$230,669	0.79%	D
3BR	$2,260	$307,734	0.73%	D
4BR	$2,600	$382,894	0.68%	D
5BR	$3,016	$447,222	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29445 (Goose Creek, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 29445 in 2026 indicate that a two-bedroom rental unit should cost $1770 per month, which is 26.0% of the median household income of $81,594. However, the actual rents in the area suggest a different reality. The Zillow median price for a two-bedroom home in Goose Creek is $232,035, which translates into a monthly rent of approximately $1060 if we assume a typical mortgage payment based on a 4.5% interest rate over 30 years. This implies that the actual rents are significantly lower than the FMR, suggesting that the FMR might be inflated relative to the local rental market. Given the FMR, voucher holders face strict constraints. For instance, a three-bedroom unit at $2200 per month would exceed the budget of many voucher recipients, who typically have a household income below the median. Therefore, voucher holders are likely to be limited to smaller units or those that are less expensive, such as one-bedroom units at $1610 per month or even zero-bedroom units at $1540 per month. #### Affordability & Renter Profile The population of Goose Creek is 59,227, with 27.9% of households being renters. This indicates a substantial rental market, but it also suggests that the majority of residents own their homes. The occupancy rate of 95.8% points to a relatively tight market, where most available units are occupied. This high occupancy rate can drive up rents, especially in areas where demand exceeds supply. The median household income of $81,594 provides insight into the economic profile of the area. Given that 27.9% of households are renters, it is reasonable to infer that these renters are likely to be middle-income families or individuals. The fact that a two-bedroom unit at $1770 represents only 26.0% of the median income suggests that renting is generally affordable for the average resident. However, for those relying on Section 8 vouchers, the affordability gap is significant. A voucher holder with a household income of $40,000 would find it challenging to afford a two-bedroom unit at $1770 per month, as this would represent nearly half of their annual income. #### Investor Angle From an investor's perspective, the ZIP code 29445 presents a mixed picture. The FMRs provide a benchmark for rental pricing, but the actual market rents are much lower. For example, the FMR for a two-bedroom unit is $1770, while the Zillow median price suggests a typical rent of around $1060. This discrepancy means that landlords who rely solely on FMRs might struggle to attract tenants willing to pay the higher rates. However, the lower actual rents could still make the area attractive for investors who are willing to price their units competitively. Assuming a typical mortgage payment of $1060 for a two-bedroom unit, an investor could potentially charge $1770 and still attract tenants who are eligible for Section 8 vouchers. The key challenge here is ensuring that the property meets all the necessary criteria to be accepted under the Section 8 program, including passing inspections and adhering to fair housing laws. The investment grade for Goose Creek can be assessed by considering the cash flow potential. If an investor can secure a tenant through the Section 8 program, they would receive a guaranteed rent payment of $1770 for a two-bedroom unit. This could result in a positive cash flow if operating costs and mortgage payments are kept below this amount. Additionally, the high occupancy rate of 95.8% suggests that there is strong demand for rental units, reducing the risk of vacancy. #### Specific Actionable Insights 1. **Target Smaller Units**: Given the constraints faced by Section 8 voucher holders, focusing on one-bedroom or zero-bedroom units could be more lucrative. These units are more likely to be rented out at the FMR, as they are within the budget of many voucher recipients. For example, a zero-bedroom unit at $1540 per month is more affordable for low-income individuals compared to a two-bedroom unit at $1770. 2. **Competitive Pricing Strategy**: While FMRs provide a guideline, setting rents slightly below the FMR could help attract tenants more quickly. For instance, pricing a two-bedroom unit at $1650 instead of $1770 could make it more appealing to both voucher holders and other renters, thereby increasing the likelihood of occupancy and positive cash flow. 3. **Focus on Property Maintenance**: To ensure acceptance under the Section 8 program, maintaining properties to meet HUD standards is crucial. Regular inspections and repairs can prevent delays in securing tenants and ensure compliance with the program requirements. #### Bottom Line For Section 8-focused investors, Goose Creek presents a moderate opportunity. The high occupancy rate and competitive rental market suggest a steady demand for rental units. However, the discrepancy between FMR and actual market rents means that investors need to carefully manage their pricing strategy to remain competitive. **Recommendation**: **Hold**. Investors should hold onto properties that are already in the area and maintain them to meet HUD standards. New investments should focus on smaller units and adopt a competitive pricing strategy to maximize occupancy and cash flow. This analysis is based on the provided data and does not account for any external factors or changes in the market beyond the scope of the given information.

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.