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 | $740 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,270 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,010 | $144,925 | 0.7% | D |
| 3BR | $1,270 | $238,004 | 0.53% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 29653, which includes Hodges, South Carolina, stands at $64,722. This figure provides insight into the economic conditions faced by potential renters in the area. The market rate for rent, according to Census ACS data, is $1,038 per month. Given the median income, it becomes evident that the cost of housing represents a significant portion of a household's budget. To put this into perspective, a household earning the median income would spend approximately 19.1% of their monthly income on rent alone, assuming an even distribution throughout the year.
Comparing the market rate to the Fair Market Rent (FMR) standard set for voucher payments, which is $1,070 for the fiscal year 2026, highlights a slight disparity. The FMR is slightly higher than the market rate, indicating that voucher recipients might have a bit more purchasing power when seeking housing. However, the difference is marginal, suggesting that landlords who accept vouchers should expect a similar level of demand as those who do not.
In ZIP 29653, where the total population is 4,293 and 15.6% of residents are renters, the affordability gap has implications for the competition among landlords. With a relatively low percentage of the population being renters, landlords must be mindful of the limited pool of tenants who can afford the market rate or the voucher amount. This means that landlords may face challenges in filling vacancies if they price their properties too high, as many households could struggle to meet these costs.
The takeaway for landlords considering voucher versus cash-pay strategies is clear. Accepting vouchers can provide a steady stream of tenants, given the government backing and the fact that voucher amounts are close to market rates. However, landlords should also consider the administrative burden and the potential for slower payment cycles associated with vouchers. For landlords aiming to maximize cash flow and avoid the complexities of voucher administration, focusing on cash-paying tenants might be more advantageous, but they must ensure their rental prices remain competitive and within reach of the local median income levels.
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.