Section 8 Fair Market Rent (FMR) for ZIP 29526 - 2027

Investment Score for ZIP 29526

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	$1,040
1 Bedroom	$1,110
2 Bedrooms	$1,320
3 Bedrooms	$1,630
4 Bedrooms	$1,900
5 Bedrooms	$2,204
6 Bedrooms	$2,468
7 Bedrooms	$2,665
8 Bedrooms	$2,798

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	$1,110	$123,331	0.9%	C
2BR	$1,320	$162,413	0.81%	C
3BR	$1,630	$294,889	0.55%	F
4BR	$1,900	$347,296	0.55%	F
5BR	$2,204	$384,299	0.57%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29526 (Conway, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 29526 in Conway, SC, indicate that the rental market is relatively affordable compared to other areas. For a two-bedroom unit, the FMR is set at $1270 per month, which represents 22.1% of the median household income of $68,825. However, it's important to note that the actual rents in the area can be significantly higher due to market dynamics. The Zillow median price for a two-bedroom home is $161,071, which translates to a price-to-FMR ratio of 10.6x. This suggests that the actual rental rates could be much higher than the FMR, potentially creating a constraint for Section 8 voucher holders who are limited by the FMR cap. For instance, if a landlord charges $1500 for a two-bedroom unit, the voucher holder would only be able to pay up to $1270, leaving a gap of $230 that the tenant would need to cover out-of-pocket. This can be challenging for many low-income families, especially when considering that the FMR for a three-bedroom unit is $1600, which is already close to the Zillow median price for a two-bedroom unit. #### Affordability & Renter Profile ZIP code 29526 has a population of 54,130, with 22.8% of residents being renters. The occupancy rate stands at 91.6%, indicating a relatively tight market where most available units are occupied. Given the median household income of $68,825, the renter profile likely includes a mix of low to middle-income individuals and families. The affordability of housing for these renters is a significant concern, particularly for those relying on Section 8 vouchers. With 22.8% of the population renting, there is a substantial demand for rental properties. However, the high price-to-FMR ratio suggests that the market is not entirely affordable for all renters, especially those with limited financial resources. This tight market condition means that landlords have some leverage to charge higher rents, which can be problematic for voucher holders who must find units within the FMR limits. #### Investor Angle From an investor perspective, the ZIP code 29526 presents both opportunities and challenges. The FMR for a two-bedroom unit is $1270, which is below the Zillow median price for a similar unit. However, the actual rental rates in the market could be much higher, making it possible for investors to achieve positive cash flow even if they rent at or slightly above the FMR. To determine the investment grade, we need to consider factors such as vacancy rates, maintenance costs, and property taxes. With an occupancy rate of 91.6%, the risk of vacancy is relatively low, which is favorable for investors. Additionally, the high demand for rental properties in the area could help offset any maintenance and tax expenses. However, investors should be cautious about setting rental rates too high, as this could limit their pool of potential tenants to only those who do not rely on Section 8 vouchers. If the goal is to cater specifically to Section 8 voucher holders, then maintaining rental rates at or near the FMR will be crucial. #### Specific Actionable Insights 1. **Focus on Units Within FMR Limits**: Investors should prioritize acquiring and renovating properties that can be rented at or near the FMR. For example, a two-bedroom unit should be priced around $1270 to ensure it remains accessible to Section 8 voucher holders. This strategy can help secure long-term tenancy and avoid the risk of vacancy. 2. **Consider Property Location**: Given the tight market conditions, properties located in desirable neighborhoods with good access to amenities and services are likely to command higher rents. However, investors should still aim to keep these rents within the FMR limits to remain attractive to voucher holders. For instance, a three-bedroom unit in a prime location might realistically rent for $1600, but this would be at the upper end of what a voucher holder could afford. 3. **Evaluate Maintenance Costs**: Since the occupancy rate is high, it's essential to ensure that properties are well-maintained to attract and retain tenants. Investors should budget for regular maintenance and repairs, which can typically range from 1% to 3% of the annual rental income. For a two-bedroom unit renting at $1270 per month, this would amount to approximately $1524 to $4572 annually. #### Bottom Line For Section 8-focused investors, ZIP code 29526 offers a balanced opportunity. The tight market and high occupancy rate suggest strong demand for rental properties, but the challenge lies in ensuring that rents remain within the FMR limits to attract voucher holders. **Recommendation**: **Buy**. The high occupancy rate and demand for rental properties make this ZIP code a viable option for investors. However, it's crucial to focus on units that can be rented at or near the FMR to ensure they remain accessible to Section 8 voucher holders. This approach can lead to stable cash flow and long-term tenancy, which are key considerations for this type of investment.

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.