Location: Greenville-Mauldin-Easley, 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 | $1,090 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,630 |
| 4 Bedrooms | $1,920 |
| 5 Bedrooms | $2,227 |
| 6 Bedrooms | $2,494 |
| 7 Bedrooms | $2,694 |
| 8 Bedrooms | $2,829 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $193,896 | 0.64% | D |
| 3BR | $1,630 | $277,341 | 0.59% | F |
| 4BR | $1,920 | $339,177 | 0.57% | F |
U.S. Census Bureau data (2024)
To determine if you should invest in ZIP 29670 (Pendleton, SC) for Section 8 properties, follow these steps:
No. Investing in this area would result in a loss since the rental income would not be sufficient to meet the financial obligations of owning the property.
Next, compare the FMR to the market rent, which is $1,627 (ZORI).
Yes. The market rent is higher than the FMR, indicating that you could potentially charge more to non-Section 8 tenants, thereby increasing your overall profitability.
It depends. While the FMR might cover the debt service, the proximity to market rates suggests limited upside potential for non-Section 8 tenants. Consider the stability and predictability of Section 8 payments versus the volatility of market rents.
No. The lower market rent indicates that even non-Section 8 tenants might struggle to pay the required FMR, leading to occupancy issues and reduced profitability.
It depends. The 30.0% rental rate suggests a moderate level of demand. However, the absence of DOM data makes it difficult to assess how quickly properties are being rented. Without this information, you cannot fully gauge the competition and turnover rates in the area.
In summary, the decision to buy in ZIP 29670 hinges on whether the FMR can support the debt service and the relationship between FMR and ZORI. Additionally, the lack of DOM data complicates the assessment of rental demand. Careful consideration of these factors is essential before making an investment decision.
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.