Location: Greenville-Mauldin-Easley, SC | Metro: Greenville-Mauldin-Easley, 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 | $174,442 | 0.69% | D |
| 3BR | $1,460 | $308,889 | 0.47% | F |
| 4BR | $1,750 | $699,893 | 0.25% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 29661, Cleveland, SC, reveals a competitive but manageable rental environment. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $950. In contrast, the Census ACS reports the market rent at $930. This slight premium of $20 allows landlords to cashflow comfortably with voucher tenants at the FMR, though it's marginal without some cost-saving measures.
The median home value in ZIP 29661 is $228,307. Using the HUD FMR of $950, we can calculate a rent-to-price ratio of approximately 5%. This ratio indicates that the area is reasonably priced for both renters and buyers, making it attractive for investors looking to balance between cashflow and property value.
Regarding the days on market (DOM), the data is marked as N/A, suggesting either insufficient data or a stable housing market where properties typically sell quickly. Similarly, the price-cut share of 0.2% suggests that sellers rarely need to lower their asking price, further indicating a robust real estate market.
In summary, the strongest angle for Section 8 investors in ZIP 29661 is cashflow. While the margin is slim, the slightly higher FMR compared to market rent ensures that landlords can maintain positive cashflow with voucher tenants, especially when considering the relatively low rent-to-price ratio and the strong overall market stability.
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.