Section 8 Fair Market Rent (FMR) for ZIP 29453 - 2027

Location: Charleston-North Charleston, SC | Metro: Charleston-North Charleston, SC MSA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,380
1 Bedroom	$1,440
2 Bedrooms	$1,570
3 Bedrooms	$1,950
4 Bedrooms	$2,240
5 Bedrooms	$2,598
6 Bedrooms	$2,910
7 Bedrooms	$3,143
8 Bedrooms	$3,300

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,517

Median Household Income

$71,328

Housing Units

695

Renter Percentage

35.5%

Occupancy Rate

97.4%

Renter Occupied

240

The ZIP code 29453, located in South Carolina, is characterized by a modest rental market with a significant portion of residents opting to rent rather than own their homes. The area offers a blend of suburban living with access to urban amenities, making it attractive for both tenants and investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 29453 for fiscal year 2024 is set at $1380. This figure represents the maximum amount that a low-income family should pay for housing.
The median home value in the area stands at $268,087, indicating a middle-class neighborhood where homeownership is attainable but requires a substantial investment.
Renters make up 35.5% of the population, which is higher than the national average, suggesting a strong demand for rental properties.
The median household income in ZIP 29453 is $71,328, providing insight into the economic status of the residents and their ability to afford rent or mortgage payments.
Market rent data is currently unavailable, which means landlords must rely on the FMR and local market trends to determine competitive pricing for their units.
The Days on Market (DOM) is also not available, which could indicate either a very active or a very stable market where properties are quickly leased or sold without prolonged exposure.

In summary, ZIP 29453 presents a balanced opportunity for real estate investors. With a higher-than-average renter share and a defined Fair Market Rent, there is a clear demand for rental properties. However, the lack of precise market rent and DOM data suggests that landlords must be vigilant in monitoring local trends to ensure they remain competitive. The median home value and income provide a solid foundation for understanding the economic landscape, supporting the potential for steady returns in rental investments.

Data Sources: FMR data from HUD (2027). 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.