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 | $1,080 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,510 |
| 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 |
|---|---|---|---|---|
| 2BR | $1,220 | $315,720 | 0.39% | F |
| 3BR | $1,510 | $450,454 | 0.34% | F |
| 4BR | $1,770 | $545,446 | 0.32% | F |
U.S. Census Bureau data (2024)
The ZIP code 29470, located in Ravenel, South Carolina, presents a unique opportunity for real-estate investors when considering the balance between yield and stability. The Fair Market Rent (FMR) for 2024 is set at $1380, significantly higher than the market rent of $944. This disparity indicates a potential for higher yields if properties can be leased at the FMR rate. However, the median home value in the area stands at $478,422, which is notably high compared to the average household income of $86,410. This suggests that while rental income could be lucrative, the overall financial stability of the tenant pool might be compromised.
To further assess the stability of the market, we look at the percentage of renters, which is reported at 12.8%. This figure is relatively low, indicating that the majority of residents in Ravenel own their homes. The low percentage of renters, combined with the absence of data on the number of days on market (DOM), points towards a less dynamic rental market. Typically, a higher percentage of renters would suggest greater liquidity and flexibility in the rental market, but this is not the case here.
The income figure of $86,410 provides insight into the economic capacity of the local population. While this income level is above the national average, it is still lower than what would typically be required to sustain the high median home value. This discrepancy may indicate that many homeowners have significant equity or access to other financial resources, which does not necessarily translate into strong rental demand.
In conclusion, ZIP 29470 appears to be a market that leans towards high yield due to the favorable gap between FMR and market rent. However, the stability of this market is questionable given the low percentage of renters and the high home values relative to income levels. For landlords and small-portfolio investors, this environment might be best suited for those who can manage properties effectively and are willing to take on the risk associated with potentially less stable tenant situations.
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.