Section 8 Fair Market Rent (FMR) for ZIP 29466 - 2027

Investment Score for ZIP 29466

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	$2,440
1 Bedroom	$2,540
2 Bedrooms	$2,770
3 Bedrooms	$3,430
4 Bedrooms	$3,950
5 Bedrooms	$4,582
6 Bedrooms	$5,132
7 Bedrooms	$5,543
8 Bedrooms	$5,820

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
1BR	$2,540	$269,990	0.94%	C
2BR	$2,770	$392,334	0.71%	D
3BR	$3,430	$665,286	0.52%	F
4BR	$3,950	$961,158	0.41%	F
5BR	$4,582	$1,298,737	0.35%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29466 (Mount Pleasant, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for Mount Pleasant, SC, as of 2026, is set at $2540 for a two-bedroom unit. This figure represents 22.9% of the median household income of $133,357, indicating that it is relatively affordable for the average resident. However, the actual rental market in Mount Pleasant is significantly higher than the FMR. For instance, the Zillow median price for a two-bedroom home is $396,946, which translates into a monthly rent of approximately $3308 if we assume a 1% annual rent-to-price ratio. This is already above the FMR for a two-bedroom unit, suggesting that voucher holders face significant challenges in finding affordable housing. The constraints for voucher holders are evident when comparing the FMR to the actual rental prices. A voucher holder would need to find a landlord willing to accept the FMR, which is lower than the market rate. Given the high median household income and the low percentage of renters (15.3%), landlords may be less inclined to participate in the Section 8 program due to the potential for higher returns from selling or renting to non-voucher tenants. #### Affordability & Renter Profile The median household income in Mount Pleasant is quite high at $133,357, which suggests that the typical resident has a strong financial standing. The occupancy rate of 92.7% indicates a robust demand for housing, making it a tight market. With only 15.3% of the population being renters, the competition for rental properties is likely fierce, especially among those who can afford higher rents. Given the high median income and the limited number of renters, the typical renter profile in Mount Pleasant is likely to be individuals or families with higher-than-average incomes. These renters are more likely to pay market rates rather than the FMR, further complicating the situation for voucher holders. #### Investor Angle From an investor's perspective, the ZIP code 29466 presents both opportunities and challenges. The FMR for a two-bedroom unit is $2540, while the actual market rent is estimated to be around $3308. This means that if an investor were to purchase a property at the median price of $396,946 and rent it out at the FMR, they would be operating below market rates. To determine whether this ZIP code is cash-flow positive at FMR, we must consider other costs such as mortgage payments, property taxes, insurance, maintenance, and utilities. Assuming a 20-year fixed-rate mortgage at 4.5%, the monthly payment on a $396,946 property would be approximately $2350. Adding in property taxes (estimated at 1.2% of the property value), insurance (around $100 per month), and maintenance (typically 1% of the property value annually), the total monthly expenses could exceed the FMR of $2540. Therefore, it is unlikely that an investor would achieve positive cash flow by renting at the FMR. In terms of investment grade, given the high median household income and the tight rental market, the overall risk is relatively low. However, the challenge lies in finding tenants willing to pay the FMR, which is well below the market rate. Investors might find it more profitable to target non-voucher tenants who can afford higher rents. #### Specific Actionable Insights 1. **Target Non-Voucher Tenants**: Given the high median household income and the tight rental market, investors should focus on attracting non-voucher tenants. This would likely result in higher rental income and better cash flow. For example, renting a two-bedroom unit at $3308 per month instead of $2540 would cover the mortgage, taxes, insurance, and maintenance costs more comfortably. 2. **Consider Lower-Rent Properties**: If an investor is interested in participating in the Section 8 program, they should look for properties that are priced closer to the FMR. For instance, a one-bedroom unit with an FMR of $2320 might be more feasible for achieving positive cash flow. However, the supply of such units is likely limited in a high-income area like Mount Pleasant. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP 29466 is to **Skip**. The high median household income and tight rental market make it challenging to find properties that can generate positive cash flow at the FMR. Additionally, the limited number of renters (15.3%) and the high occupancy rate (92.7%) indicate a competitive environment where landlords might prefer higher-paying tenants over those using vouchers. Investors looking to maximize returns should consider areas with a higher percentage of renters and lower median household incomes.

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.