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 | $1,050 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,460 |
| 4 Bedrooms | $1,750 |
| 5 Bedrooms | $2,030 |
| 6 Bedrooms | $2,274 |
| 7 Bedrooms | $2,456 |
| 8 Bedrooms | $2,579 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $228,968 | 0.53% | F |
| 3BR | $1,460 | $316,314 | 0.46% | F |
| 4BR | $1,750 | $431,943 | 0.41% | F |
| 5BR | $2,030 | $533,151 | 0.38% | F |
U.S. Census Bureau data (2024)
The median income in ZIP 29642, located in Easley, South Carolina, stands at $78,221. This figure provides a benchmark for assessing the financial capabilities of typical households in the area. The market rate for rental properties, known as the Zillow Observed Rent Index (ZORI), is set at $2,007 per month. When considering the median income, it becomes evident that the average household would struggle to meet this rental cost without dedicating a significant portion of their earnings to housing.
In comparison, the Fair Market Rent (FMR) standard for voucher payments in the zip code for fiscal year 2024 is established at $1,020 per month. This amount represents a more affordable option for renters, particularly those relying on government assistance. The disparity between the ZORI ($2,007) and the FMR ($1,020) highlights a substantial affordability gap in the local rental market.
With 17.6% of the 36,852 residents being renters, the competition among landlords is a critical factor. The affordability gap suggests that landlords who cater exclusively to market-rate tenants might face challenges in maintaining occupancy rates, especially if potential renters find the ZORI too high relative to their income levels. On the other hand, landlords willing to accept Section 8 vouchers could attract a different segment of the rental market, one that is more price-sensitive but still constitutes a significant portion of the area’s population.
The takeaway for landlords is clear: focusing solely on cash-paying tenants at market rates could limit your pool of potential renters. By accepting Section 8 vouchers, you align with the financial realities of many in the community, ensuring a steady stream of qualified tenants. While the voucher rate is lower than the market rate, the stability it offers might be worth considering in light of the competitive landscape and the financial constraints faced by many renters in ZIP 29642.
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.