Location: Anderson, 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 | $920 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,060 |
| 3 Bedrooms | $1,370 |
| 4 Bedrooms | $1,670 |
| 5 Bedrooms | $1,937 |
| 6 Bedrooms | $2,169 |
| 7 Bedrooms | $2,343 |
| 8 Bedrooms | $2,460 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,370 | $286,478 | 0.48% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 29684 in fiscal year 2024 is set at $910. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not the actual rent you'll receive; rather, it's the ceiling on what tenants with vouchers can pay.
In comparison, the average market rent in the same area, according to recent Census American Community Survey (ACS) data, is $933. This suggests that the FMR is slightly below the local market rate, meaning landlords who participate in the Section 8 program will be receiving less than the typical rent for similar properties in the area.
The FMR is critical because it helps determine the demand for Section 8 rentals. In ZIP code 29684, approximately 15.1% of residents are renters. This indicates a moderate demand for rental housing, but also highlights that there might be competition among landlords for these tenants. The lower FMR compared to the market rent could make it challenging to attract voucher holders if other landlords offer more affordable options.
When considering the acquisition cost of a property, the median home value in ZIP code 29684 is around $248,475. This price point can affect your decision on whether to convert a property into a Section 8 rental. Landlords must weigh the potential long-term income from a Section 8 tenant against the initial investment and ongoing maintenance costs.
Before deciding to enter the Section 8 market, verify that your property meets all the necessary requirements for the program. This includes ensuring that your rental unit passes a thorough inspection for health and safety standards, which is crucial to qualify for the program. Once you confirm compliance, you can proceed with confidence, knowing that you're prepared to meet the needs of both the program and your future tenants.
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.