Location: Marion County, SC | Metro: Marion County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $650 |
| 1 Bedroom | $820 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,300 |
| 5 Bedrooms | $1,508 |
| 6 Bedrooms | $1,689 |
| 7 Bedrooms | $1,824 |
| 8 Bedrooms | $1,915 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29589, set at $900 for the fiscal year 2026, is a critical figure for landlords and small-portfolio investors considering their first Section 8 rental property. This amount represents the payment standard that the Housing Choice Voucher program will cover for a unit in this area, not the actual rent that tenants can afford to pay.
To understand the implications of this $900 FMR, it's important to compare it against the local market conditions. While the exact local median rent is not available (N/A), the FMR serves as an upper limit for voucher payments. Given that the average tenant using a Section 8 voucher might spend 100.0% of their income on rent, this suggests a high level of demand for affordable housing units priced around the FMR.
The acquisition cost of a property in this ZIP code is also crucial to consider. However, the specific data for acquisition costs is not available (N/A). Despite this, you should aim to purchase properties that align closely with the $900 FMR to ensure that your rental income is covered by the voucher program without significant gaps.
Before proceeding with a Section 8 rental in ZIP 29589, one key verification step is essential. Ensure that the property meets all the required inspection standards set by the local housing authority. These inspections are thorough and can affect whether you receive the full $900 voucher payment. Failure to meet these criteria could result in lower payments or rejection of the unit.
In summary, the $900 FMR for ZIP 29589 indicates the maximum rent subsidy available through the Section 8 program. High demand for affordable housing is likely, given the assumption that renters will spend 100.0% of their income on rent. Focus on acquiring properties that are reasonably priced around this figure, and make certain that the unit passes all necessary inspections to secure the full voucher payment.
Data Sources: FMR data from HUD (2027). 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.