Location: Abbeville County, 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: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,210 | $160,923 | 0.75% | D |
| 3BR | $1,460 | $250,879 | 0.58% | F |
| 4BR | $1,750 | $399,869 | 0.44% | F |
U.S. Census Bureau data (2024)
The ZIP code 29654, located in Honea Path, SC, stands out within Anderson County due to its unique data profile. With a population of 11,095 residents, it has a rental rate of 20.3%, a median income of $58,079, and a median home value of $219,273. These figures indicate a relatively stable community where homeownership is slightly more prevalent than renting.
The voucher economics in ZIP 29654 present an interesting opportunity for landlords. The Fair Market Rent (FMR) for the area is set at $1010 for fiscal year 2024, which is notably higher than the current market rent of $911, according to the Census American Community Survey (ACS). This discrepancy means that landlords can potentially charge more for their units through Section 8 vouchers compared to the standard market rates, thereby increasing their revenue stream.
Given the data signature of ZIP 29654, the area appears to be stable rather than transitional. The median income and home values suggest a community that is financially steady, with a slight preference towards homeownership. However, the presence of a significant rental market and the favorable voucher economics indicate that there is room for growth and investment in rental properties. Landlords and small-portfolio investors should take note of these dynamics, particularly the potential to leverage higher FMR rates for increased profitability.
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.