Section 8 Fair Market Rent (FMR) for ZIP 29461 - 2027

Investment Score for ZIP 29461

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	$1,380
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

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	$1,570	$245,163	0.64%	D
3BR	$1,950	$339,162	0.57%	F
4BR	$2,240	$391,711	0.57%	F
5BR	$2,598	$440,263	0.59%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29461 (Moncks Corner, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 29461, as per the 2026 figures, is set at $1460 for a two-bedroom unit. This represents approximately 21.2% of the median household income in the area, which stands at $82,666. The FMR is designed to reflect the average rent that a voucher holder can afford, but it often falls short of the actual rental market rates. For instance, the Zillow median price for a two-bedroom home in Moncks Corner is $245,531, indicating a significant gap between the FMR and the actual market value. This disparity means that voucher holders face considerable constraints when trying to find suitable housing. The FMR is only one factor in determining affordability; other considerations include utilities, maintenance costs, and the overall condition of the property. Given the high price-to-FMR ratio of 14.0x, landlords who accept Section 8 vouchers must be willing to rent below market rates, which can impact their profitability. #### Affordability & Renter Profile In Moncks Corner, the renter population makes up 17.6% of the total 43,816 residents. With an occupancy rate of 94.9%, the market appears to be relatively tight, suggesting that there is little excess supply of rental units. This tightness could lead to higher competition among renters, particularly those relying on Section 8 vouchers. Given the median household income and the FMR, the typical renter profile would likely include families with low to moderate incomes who are seeking affordable housing options. The 21.2% of median income allocated to a two-bedroom unit indicates that these renters might have limited disposable income for other necessities such as food, healthcare, and education. The high occupancy rate also suggests that there is strong demand for rental properties, which could drive up rental prices and make it challenging for voucher holders to secure housing within the FMR limits. #### Investor Angle From an investor perspective, the key question is whether accepting Section 8 vouchers would result in a positive cash flow. To assess this, we need to consider the rental income relative to the expenses associated with maintaining and managing the property. Assuming a two-bedroom unit is rented at the FMR of $1460, we can calculate the potential cash flow by subtracting typical operating expenses. These expenses might include property taxes, insurance, utilities, maintenance, and management fees. If we estimate these costs at around $700 per month, the net cash flow would be approximately $760 per month. However, given the high price-to-FMR ratio of 14.0x, the purchase price of a two-bedroom unit would be significantly higher than what a voucher holder can pay. This means that the initial investment required to acquire a property in this ZIP code would be substantial, and the monthly cash flow might not cover the mortgage payments if the property was purchased at market rates. To determine the investment grade, we should look at the vacancy rate and the likelihood of finding tenants. With an occupancy rate of 94.9%, the risk of vacancy is relatively low, which is favorable for investors. However, the challenge lies in securing tenants who can afford the market rate versus those who rely on vouchers. #### Specific Actionable Insights 1. **Target Properties Below Market Value**: Investors looking to focus on Section 8 vouchers should target properties that are priced below the Zillow median. A two-bedroom unit priced at $1460 per month would be ideal, but realistically, they might need to negotiate with landlords to accept lower rent payments. 2. **Consider Smaller Units**: Given the high price-to-FMR ratio, smaller units like one-bedroom or studio apartments might offer better opportunities for positive cash flow. The FMR for a one-bedroom unit is $1330, which is still a fraction of the median household income. 3. **Evaluate Property Management Costs**: Before making an investment, carefully evaluate the property management costs. If these costs exceed the FMR, the investment will likely not be profitable. Investors should aim to keep operational expenses under $700 per month to ensure a positive cash flow at the FMR. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 29461 is to **Skip**. The high price-to-FMR ratio and the tight rental market indicate that it would be difficult to achieve positive cash flow while maintaining profitability. Additionally, the limited number of renters (17.6%) and the high competition for affordable housing make it challenging to secure long-term tenants. While the occupancy rate is high, the cost of acquiring a property at market rates outweighs the benefits of renting it out at the FMR. Therefore, investors should consider other ZIP codes where the price-to-FMR ratio is lower and where there is a greater proportion of renters who can benefit from Section 8 vouchers.

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.