Location: Greenville-Mauldin-Easley, SC | Metro: Greenville-Mauldin-Easley, 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 | $1,500 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,700 | $227,228 | 0.75% | D |
| 3BR | $2,030 | $374,800 | 0.54% | F |
| 4BR | $2,400 | $574,472 | 0.42% | F |
| 5BR | $2,784 | $862,006 | 0.32% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 29615 in Greenville, SC, reveals several key points for landlords and small-portfolio investors. First, regarding the rent math, the Federal Market Rent (FMR) for the area stands at $1390 for fiscal year 2024, while the market rent as indicated by ZORI is slightly lower at $1,346. This suggests that landlords can align their rental pricing closely with the FMR to remain competitive in the market without undercharging.
Second, on the topic of acquisition affordability, the median home value in the area is $437,324. With a 21-day Days on Market (DOM) and only a 0.3% price-cut share, it's evident that homes are selling quickly and without significant price reductions, indicating a robust housing market. For investors looking to acquire properties, the current median home value represents a solid investment opportunity given the quick turnover and minimal negotiation needed.
Third, there is strong tenant demand in ZIP 29615. The population of 38,811 includes a substantial 46.8% who are renters. This high percentage of renters suggests a healthy market for rental properties, providing landlords with a reliable pool of potential tenants.
In summary, the rent math works favorably for landlords in ZIP 29615, with the FMR and market rents being nearly equivalent. Acquisition costs are reasonable, with homes selling swiftly and at stable prices, making it an attractive area for property purchases. Furthermore, the high renter share indicates a strong demand for rentals, supporting the viability of rental investments. Landlords and small-portfolio investors should consider this area as it offers a balanced environment for successful property management and investment growth.
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.