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 | $1,140 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,540 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $220,054 | 0.59% | F |
| 3BR | $1,540 | $390,456 | 0.39% | F |
| 4BR | $1,820 | $498,476 | 0.37% | F |
| 5BR | $2,111 | $679,923 | 0.31% | F |
U.S. Census Bureau data (2024)
ZIP 29631, located in Clemson, SC, and part of the Greenville-Mauldin-Easley, SC HUD Metro FMR Area, can serve as an effective cash-flow anchor within a Section 8 portfolio strategy. The Family Monthly Rent (FMR) for fiscal year 2024 is set at $1230, which is significantly lower than the market rent of $1,712. This $482 difference represents a healthy spread that ensures a steady and reliable income stream.
The median home value in this ZIP code is $397,805, indicating a stable housing market where property values are unlikely to experience dramatic fluctuations. For landlords and small-portfolio investors, anchoring their investment in areas with stable rental markets and lower-than-market FMRs helps mitigate risks associated with sudden changes in tenant eligibility or rent subsidies.
Furthermore, the low price-cut share of 0.2% and the non-applicable day DOM (Days on Market) suggest that properties in this area do not often require price reductions to attract tenants, and they sell quickly when listed. This implies a strong demand for rental properties, making it easier to maintain occupancy rates and consistent cash flow.
While the renter share of 59.2% and median income of $48,800 might seem high, these figures actually support the idea of this ZIP code acting as a cash-flow anchor. High renter share indicates a robust rental market, while the median income suggests that residents have sufficient financial stability to meet their obligations, including rent payments.
In summary, ZIP 29631 provides a solid foundation for a Section 8 portfolio due to its favorable spread between FMR and market rents, stable home values, and strong rental demand. These factors combine to offer predictable and dependable cash flow, essential for any landlord or investor looking to secure long-term financial benefits.
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.