Location: Charleston-North Charleston, SC | Metro: Charleston-North Charleston, SC MSA
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 | $1,020 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,770 |
| 5 Bedrooms | $2,053 |
| 6 Bedrooms | $2,299 |
| 7 Bedrooms | $2,483 |
| 8 Bedrooms | $2,607 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $278,191 | 0.52% | F |
U.S. Census Bureau data (2024)
The ZIP code 29448 has a population of 1,997 residents, with 15.5% identified as renters. The median household income in this area stands at $71,967. This indicates that the ZIP is not heavily dominated by renters, but rather leans towards a mix of homeowners and renters. Given the relatively low percentage of renters, it's likely that the demand for housing vouchers under the Section 8 program is not as high as in areas with a larger renter population.
The market rent in ZIP 29448 is set at $676 per month. To contextualize this figure, it represents approximately 9.5% of the median household income when annualized. This suggests that rent is a manageable expense for most households in this ZIP, leaving a significant portion of income available for other necessities and savings.
Comparatively, the Fair Market Rent (FMR) for the area, as defined by the U.S. Department of Housing and Urban Development for FY 2024, is $1,380. This is nearly double the current market rent, indicating that there is considerable room for rental rates to increase without becoming unaffordable for the majority of the population. However, the lower market rent also implies that landlords may face competition from those offering more affordable options, especially if they aim to attract voucher holders.
A landlord in ZIP 29448 should expect tenants who are financially stable, given the area's median income. While there will be some tenants utilizing Section 8 vouchers, the overall tenant pool is likely to include a mix of individuals and families who can afford market rents without government assistance. Landlords should prepare for a moderate demand for voucher-assisted tenancy but should not rely on it as the primary source of rental income. Instead, focusing on providing quality, affordable housing that aligns with the $676 market rent will ensure a steady stream of potential tenants.
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.