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 | $950 |
| 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 | $175,227 | 0.6% | D |
| 3BR | $1,370 | $280,250 | 0.49% | F |
| 4BR | $1,670 | $467,097 | 0.36% | F |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP code 29626 in Anderson, SC, are significant. Tenant turnover is a primary concern due to the discrepancy between the market rent of $920 and the Fair Market Rent (FMR) of $1080 for FY 2024. This difference can lead to higher vacancy rates, as tenants might be inclined to seek more affordable housing options. The vacancy exposure is heightened by the lack of available data on the number of days properties remain on the market (DOM), indicating uncertainty around how long it might take to find new tenants. Additionally, the typical home value in the area stands at $270,405, while the median household income is $56,196. This suggests that landlords may face challenges with deferred maintenance, as residents might struggle to afford necessary repairs and improvements, leading to potential property degradation over time.
Despite these risks, there are mitigating factors that make Section 8 investments in ZIP 29626 a viable option. The renter share of the population is 18.7%, which is relatively high. High renter density typically translates into a greater demand for rental housing, including units supported by Section 8 vouchers. This demand can help stabilize occupancy rates and ensure a steady stream of tenants who qualify for assistance through the program.
In conclusion, the risks associated with Section 8 investments in ZIP 29626 are moderate, primarily due to the challenges posed by tenant turnover and the need for regular maintenance. However, the high renter share provides a buffer against these risks, making it a reasonable choice for landlords and small-portfolio investors willing to navigate the complexities of the 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.