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 | $1,340 |
| 1 Bedroom | $1,400 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,170 |
| 5 Bedrooms | $2,517 |
| 6 Bedrooms | $2,819 |
| 7 Bedrooms | $3,045 |
| 8 Bedrooms | $3,197 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $354,855 | 0.43% | F |
| 3BR | $1,880 | $470,687 | 0.4% | F |
| 4BR | $2,170 | $735,116 | 0.3% | F |
| 5BR | $2,517 | $941,962 | 0.27% | F |
U.S. Census Bureau data (2024)
The ZIP code 29449, located in Hollywood, SC, falls within the larger Charleston-North Charleston, SC MSA metro area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1380. This figure is lower than the market rent of $1,571, indicating that the area offers rental units at a slightly discounted rate compared to what the market demands. The median home value in this ZIP is $529,563, which is notably higher than the typical home values in most other ZIP codes within the Charleston-North Charleston MSA.
However, the 13.8% renter share in ZIP 29449 is a key indicator of its dynamics. In comparison to the broader metro area where renter shares might be higher, this suggests a relatively smaller proportion of residents who are renters. This lower renter share combined with above-average home values points towards a scenario where homeownership is more prevalent, possibly due to the area's appeal as a stable residential location.
To determine whether ZIP 29449 represents a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we can look at the following:
The FMR being below the market rent suggests that it could be considered a value pocket for tenants looking for affordable housing options. However, for landlords, this means there might be less flexibility to increase rents beyond the FMR without losing tenants.
The higher-than-average home values indicate that it is not a low-end market but rather a mid-tier or potentially even a premium sub-market. This would attract investors interested in areas with higher property appreciation potential.
The relatively low renter share (13.8%) does not align with the characteristics of a typical Section 8 sweet spot, which usually has a higher percentage of renters alongside lower home values. Instead, this suggests a mixed market where homeownership is strong, but there is still a notable rental market.
In summary, ZIP 29449 appears to be a mid-tier neighborhood within the Charleston-North Charleston MSA, offering a balance between affordability for some tenants and attractive home values for investors. It does not present the classic Section 8 sweet spot profile but still holds interest for those looking for moderate rental income opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.