Location: Chesterfield County, SC | Metro: Chesterfield County, SC
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 | $680 |
| 1 Bedroom | $720 |
| 2 Bedrooms | $940 |
| 3 Bedrooms | $1,220 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,220 | $189,931 | 0.64% | D |
| 4BR | $1,290 | $291,838 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 29520 presents a dynamic rental market with a Federal Market Rent (FMR) of $980 for the fiscal year 2026, while the current market rent stands at $807 according to the Census American Community Survey (ACS). This suggests that the rental market is currently below the federally determined fair market level, indicating potential upward pressure on rents as the market adjusts to meet the FMR.
The 0.2% price-cut share reveals that very few landlords are reducing their asking rents, which implies that the majority of properties are being rented at or near the current market rate. This is a sign of a market where demand is relatively stable and close to matching the supply, though it does not indicate an imbalance one way or another.
The median home value of $157,872 suggests that homeownership is accessible to a broad range of residents, potentially supporting a healthy mix of owner-occupied and rental units. However, the absence of days on market (DOM) data means we cannot conclusively assess how quickly rental properties are filling up relative to the pace of new listings.
A 30.6% renter share highlights a significant portion of the population choosing to rent rather than buy. This high percentage of renters can be indicative of long-term housing pressure, as it suggests a continuous need for rental units. High renter shares often correlate with areas where there might be challenges for first-time homebuyers due to affordability or other factors, leading to sustained demand for rentals.
In summary, ZIP 29520 appears to be a market where demand meets supply closely, with slight indications of upward pressure on rents. The substantial renter share points towards a community where renting remains a preferred or necessary option for many, reflecting ongoing housing dynamics that favor the rental sector over the long term.
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.