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 | $1,020 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,460 |
| 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $263,647 | 0.55% | F |
U.S. Census Bureau data (2024)
1380 is the Fair Market Rent (FMR) for ZIP 29479 as of fiscal year 2024, setting a benchmark for rental properties in the area. 950 is the average market rent reported by the Census Bureau's American Community Survey, indicating that properties priced at the FMR may be above the local average. 217,140 represents the median home value in ZIP 29479, suggesting a moderate housing market where property values are neither excessively high nor low. 23.1% is the share of renters in the population, highlighting a relatively small but significant rental market. 51,397 is the median income figure for the ZIP code, which landlords should consider when setting rents to ensure affordability for tenants. The data shows N/A for the days on market (DOM) and the percentage of homes that had their prices cut, implying either a stable housing market or limited recent sales data available. In ZIP 29479, landlords can expect to charge rents close to the FMR, although the market average is lower, potentially leaving room for modest increases. Given the median income of 51,397, properties priced near the FMR might appeal to higher-income households or those receiving assistance. With a 23.1% renter share, there is a steady demand for rentals, though it is not overwhelming. The lack of recent fluctuation data suggests stability in the local real estate market. For Section 8 investors, the gap between the FMR and the market rent offers a strategic opportunity to balance affordability with profitability. Verdict: Suitable for Section 8 investment.
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.