Section 8 Fair Market Rent (FMR) for ZIP 29643 - 2027

Location: Oconee County, SC | Metro: Anderson, SC HUD Metro FMR Area

Investment Score for ZIP 29643

Monthly Rent (2BR)

$1,060

Median Price (2BR)

$258,161

1% Rule

0.41%

Annual Yield

4.93%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,060	$258,161	0.41%	F
3BR	$1,370	$403,543	0.34%	F
4BR	$1,670	$649,389	0.26%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,751

Median Household Income

$80,517

Housing Units

1,735

Renter Percentage

10.2%

Occupancy Rate

69.6%

Renter Occupied

123

To determine if a landlord should invest in ZIP code 29643 (Fair Play, SC) for Section 8 properties, follow this decision tree:

Step 1: Does the Fair Market Rent (FMR) of $1040 cover the debt service on a property valued at $339,982?

Yes: If you can secure a mortgage rate that allows the $1040 monthly rent to cover the debt service, then proceed to Step 2. For instance, a 30-year fixed-rate mortgage at approximately 4.5% would result in a monthly payment around $1,675, which is higher than the FMR. This means the FMR does not cover the debt service.
No: Given the FMR of $1040 does not cover the debt service on a $339,982 property, investing solely based on Section 8 tenants is financially unviable without additional income sources or subsidies.

Step 2: Is the market rent above, at, or below the FMR of $1040?

N/A: Since market rent data is not available for ZIP 29643, it's impossible to make a direct comparison between market rent and FMR. However, the lack of data suggests that the local rental market might be less competitive or well-documented.

Step 3: Do 10.2% of renters combined with an unknown Days on Market (DOM) indicate sufficient demand?

It depends: With only 10.2% of the population being renters, the demand for rental properties, including those eligible for Section 8, is relatively low. An unknown DOM makes it difficult to assess how quickly properties are rented out. If you can find a property with a lower purchase price where the FMR covers debt service, and the DOM is short, then there might still be a niche opportunity. Otherwise, the investment risk is high due to limited demand.

In summary, for ZIP code 29643, the FMR of $1040 does not cover the debt service on a $339,982 property, indicating that relying solely on Section 8 tenants would not be financially sound. The lack of market rent data complicates further analysis, but the low percentage of renters suggests limited demand. Therefore, unless other factors such as lower property costs or shorter DOM periods compensate for these issues, the answer is No: do not buy here for Section 8 investments.

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.