Location: Greenwood County, SC | Metro: Abbeville County, SC
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 | $680 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $930 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,350 |
| 5 Bedrooms | $1,566 |
| 6 Bedrooms | $1,754 |
| 7 Bedrooms | $1,894 |
| 8 Bedrooms | $1,989 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $930 | $155,968 | 0.6% | F |
| 3BR | $1,160 | $250,253 | 0.46% | F |
| 4BR | $1,350 | $352,858 | 0.38% | F |
| 5BR | $1,566 | $461,631 | 0.34% | F |
U.S. Census Bureau data (2024)
The potential pitfalls of investing in ZIP 29649 under Section 8 housing programs are significant. Tenant turnover is a notable concern, as the market rent of $1,318 contrasts sharply with the Fair Market Rent (FMR) of $980 for fiscal year 2026 in the metropolitan area. This disparity can lead to higher churn rates among tenants who cannot afford the market rate, impacting the stability of rental income. Additionally, vacancy exposure is a risk due to the average Days on Market (DOM) being 38 days. This extended period increases the likelihood of vacant units, which can result in lost rental revenue during that time. The deferred maintenance risk is also present, given the typical home value of $224,006 and the median income of $54,585. Homeowners with such income levels might struggle to keep up with maintenance costs, leading to potential property degradation over time.
However, these risks must be weighed against the high renter share of 36.3%, which indicates a robust demand for rental properties. A high percentage of renters often translates into greater interest in Section 8 vouchers, providing a steady stream of tenants willing to pay the subsidized rent. This demand can mitigate some of the risks associated with tenant turnover and vacancy exposure.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 29649 is moderate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.