Location: Greenville-Mauldin-Easley, SC | Metro: Greenville-Mauldin-Easley, SC HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,430 |
| 2 Bedrooms | $1,560 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
The market analysis for Section 8 investors targeting ZIP code 29610 in Greenville, SC reveals that voucher tenants will only cashflow with premium units. The HUD Fair Market Rent (FMR) for the area is set at $1,240 for FY 2024. However, based on recent listings outside the exact ZIP code but within the broader Greenville-Mauldin-Easley area, market rents are generally higher, ranging from $1,750 to $2,600 per month.
The median home value for the broader Greenville-Mauldin-Easley area is not specifically available for ZIP 29610, but for the United States, it stands at $366,019. This suggests a relatively low rent-to-price ratio in the Greenville area, making it less favorable for buy-to-let investors compared to purely rental-focused investments.
The data does not provide the number of days on market (DOM) or the percentage of price cuts, but given the higher market rents, it's evident that voucher tenants renting at the FMR of $1,240 will likely face challenges in covering the costs of standard market-rate properties without additional subsidies or premium units.
The strongest investor angle in this market is stability. While appreciation might be limited due to the higher rent-to-price ratio, the consistent demand for affordable housing ensures steady cashflows for those who can offer premium units at competitive rates. Stability provides a reliable investment option, especially for small-portfolio investors looking for predictable returns.
Data Sources: FMR data from HUD (2027).
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.