Location: Greenville-Mauldin-Easley, SC | Metro: Anderson, SC HUD Metro FMR Area
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 | $1,250 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,700 |
| 4 Bedrooms | $2,010 |
| 5 Bedrooms | $2,332 |
| 6 Bedrooms | $2,612 |
| 7 Bedrooms | $2,821 |
| 8 Bedrooms | $2,962 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,300 | $152,890 | 0.85% | C |
| 2BR | $1,420 | $181,585 | 0.78% | D |
| 3BR | $1,700 | $245,203 | 0.69% | D |
| 4BR | $2,010 | $317,514 | 0.63% | D |
| 5BR | $2,332 | $434,906 | 0.54% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29611 in Greenville, SC, for fiscal year 2024 is set at $1080. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the rent you will receive; it's the ceiling for what tenants with vouchers can pay.
In contrast, the average market rent for ZIP 29611, known as the ZORI (Zillow Observed Rental Index), stands at $1,702. This means that without Section 8, you could potentially charge significantly more for rent. However, the Section 8 program has its own advantages, particularly in ensuring stable income and reducing vacancy rates.
The renter share in this area is 46.7%, indicating that nearly half of the households are renters. This suggests a strong demand for rental properties, including those that accept Section 8 vouchers. With such a high percentage of renters, there is a good chance that your property will be occupied, especially if it meets the necessary standards for the program.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in ZIP 29611 is approximately $214,677. This is the price range you should expect when acquiring a new property in this area. While the initial investment might seem high compared to the FMR, remember that the long-term stability and demand for rentals can make it a worthwhile venture.
Before finalizing your decision to enter the Section 8 market, ensure that your property meets all the required safety and habitability standards. The Housing Quality Standards (HQS) inspection is mandatory, and failing to meet these criteria can delay the process or result in rejection. Verify that your property is up to code, as this is a critical step in securing a tenant through the program.
In summary, while the FMR of $1080 limits the rent you can charge under Section 8, the strong rental market in ZIP 29611, with an average rent of $1,702 and a 46.7% renter share, indicates high demand. A median home value of around $214,677 sets the acquisition cost, and ensuring your property meets HQS standards is essential for success in this program.
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.