Location: Colleton County, 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: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,460 | $129,144 | 1.13% | B |
U.S. Census Bureau data (2024)
25.1% of residents in ZIP 29481 are renters, indicating a significant portion of the population relies on rental housing. This statistic underscores the potential demand for rental properties in the area. The $1520 Fair Market Rent (FMR) for zip code 29481 as of fiscal year 2024 shows the benchmark set by HUD for determining payment standards under the Section 8 program. In comparison, the $543 market rent figure derived from Census ACS data highlights a substantial gap between the HUD-set FMR and the actual market rates, suggesting that landlords participating in the Section 8 program could receive higher rents compared to the local market average. The median home value of $138,875 provides insight into the overall real estate market in the area, which can be lower due to various factors including a mix of property types and age. However, it's important to note that the median income of $46,719 in ZIP 29481 is a critical factor for potential tenants qualifying for the Section 8 program. Given the absence of data on days on market (DOM) and the percentage of price-cut shares, it's evident that the local real estate market lacks recent transactional data, possibly due to low activity levels. This could mean that landlords might face fewer challenges in finding tenants willing to pay the Section 8 rate. Based on the available data, the Section 8 program presents a viable option for landlords and small-portfolio investors in ZIP 29481, offering a stable income source that exceeds the current market rent.
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.