Section 8 Fair Market Rent (FMR) for ZIP 29670 - 2027

Location: Greenville-Mauldin-Easley, SC | Metro: Anderson, SC HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

11,084

Median Household Income

$72,445

Housing Units

4,985

Renter Percentage

30.0%

Occupancy Rate

92.4%

Renter Occupied

1,384

Housing Authorities Serving ZIP 29670

HOUSING AUTHORITY OF ANDERSON (Anderson, SC) - 505 Section 8 vouchers
HOUSING AUTHORITY OF EASLEY (Easley, SC)

To determine if you should invest in ZIP 29670 (Pendleton, SC) for Section 8 properties, follow these steps:

If the Fair Market Rent (FMR) of $1,150 does not cover the debt service on a $281,993 property:
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.
If the FMR of $1,150 covers the debt service on a $281,993 property:
Next, compare the FMR to the market rent, which is $1,627 (ZORI).
- If the ZORI is significantly above the FMR:
  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.
- If the ZORI is close to or at the FMR:
  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.
- If the ZORI is below the FMR:
  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.
Regarding demand, with 30.0% of the population being renters and the days on market (DOM) being N/A:
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). 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.