Location: Anderson, 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 | $920 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,060 | $105,624 | 1% | B |
| 3BR | $1,370 | $186,232 | 0.74% | D |
| 4BR | $1,670 | $246,428 | 0.68% | D |
U.S. Census Bureau data (2024)
ZIP 29624, located in Anderson, South Carolina, can serve as a strategic component in a Section 8 portfolio. Given the specific metrics provided, this area is best classified as a cash-flow anchor. The Federal Market Rent (FMR) for ZIP 29624 in fiscal year 2024 is set at $910, while the average market rent stands at $1,150. This creates a $240 spread between the FMR and market rates. For landlords and small-portfolio investors, this means that even when participating in the Section 8 program, they can still achieve a significant margin above the FMR, ensuring solid cash flow.
The median home value in ZIP 29624 is $147,072, indicating a stable but not rapidly appreciating housing market. This further supports the classification as a cash-flow anchor rather than an appreciation play. Rapidly appreciating markets would typically see higher home values and potentially greater fluctuations in rental pricing, which is not evident here. Additionally, the 0.2% price-cut share suggests minimal competition on price, while the N/A-day Days on Market (DOM) indicates either a very active market or that listings are quickly leased without extended vacancy periods, both of which contribute to steady cash flow.
The area's 48.8% renter share shows a substantial portion of the population prefers renting over buying, making it an ideal location for landlords. With a median income of $30,549, many residents are likely to qualify for the Section 8 program, thus providing a consistent pool of potential tenants. This demographic ensures a stable occupancy rate, crucial for maintaining positive cash flow.
In summary, ZIP 29624 is a reliable cash-flow anchor due to the favorable spread between the FMR and market rents, a stable home value, and a high proportion of renters with incomes aligning well with Section 8 eligibility criteria. This makes it a secure investment choice for those looking to generate steady income through their real estate holdings.
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.