Section 8 Fair Market Rent (FMR) for ZIP 29673 - 2027
Location: Greenville-Mauldin-Easley, SC | Metro: Anderson, SC HUD Metro FMR Area
Investment Score for ZIP 29673
D
Monthly Rent (2BR)
$1,240
Median Price (2BR)
$186,546
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,090 |
| 1 Bedroom | $1,140 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,550 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
Investment Analysis by Bedroom Size
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms |
Monthly FMR |
Median Price |
1% Rule |
Grade |
| 2BR |
$1,240 |
$186,546 |
0.66% |
D |
| 3BR |
$1,550 |
$294,147 |
0.53% |
F |
| 4BR |
$1,830 |
$366,500 |
0.5% |
F |
| 5BR |
$2,123 |
$402,454 |
0.53% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$71,444
To determine if you should buy in ZIP 29673 (Piedmont, SC) for Section 8 investments, follow this decision tree based on the provided data.
1) Does FMR $1090 (zip FY 2024) clear debt service on a $302,671 property?
- No: The Fair Market Rent (FMR) of $1090 is insufficient to cover typical debt service costs on a property valued at $302,671. Debt service, which includes mortgage payments and other financing costs, would likely exceed this amount, making the investment unprofitable under Section 8 guidelines.
2) Is market rent $1,555 (ZORI) above, at, or below FMR?
- Above: The Zillow Rent Index (ZORI) indicates a market rent of $1,555, which is higher than the FMR of $1090. This suggests that non-Section 8 tenants could potentially pay more, but the primary focus remains on whether Section 8 can support your investment goals.
- At: Not applicable in this case since the market rent is above the FMR.
- Below: Not applicable in this case since the market rent is above the FMR.
3) Are 25.3% renters + 61-day DOM enough demand?
- Yes: With 25.3% of the population renting and an average Days on Market (DOM) of 61 days, there is moderate demand for rental properties. This percentage of renters indicates a reasonable market size for Section 8 tenants. However, the longer DOM suggests some competition or challenges in finding tenants quickly.
- No: If the percentage of renters were significantly lower, or if the DOM was much higher, indicating difficulty in leasing units, then demand might be insufficient. In this scenario, the demand is marginal but present.
- It Depends: Given the moderate demand indicated by 25.3% renters and a DOM of 61 days, the decision hinges on your risk tolerance and investment strategy. If you are looking for a high-demand area with quick turnover, this might not be ideal. However, if you can manage a slightly longer leasing period and the property meets other criteria, such as being in good condition and having a strategic location, then it could still be a viable investment.
In conclusion, based on the provided data, investing in ZIP 29673 for Section 8 purposes is challenging due to the low FMR compared to the property value. While the market rent is higher, which could attract non-Section 8 tenants, the primary concern is the ability to cover debt service. Moderate demand exists, but it does not outweigh the financial limitations posed by the FMR.
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.