Location: Oconee County, SC | Metro: Oconee County, SC
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 | $690 |
| 1 Bedroom | $730 |
| 2 Bedrooms | $950 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,280 |
| 5 Bedrooms | $1,485 |
| 6 Bedrooms | $1,663 |
| 7 Bedrooms | $1,796 |
| 8 Bedrooms | $1,886 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $950 | $283,392 | 0.34% | F |
| 3BR | $1,160 | $393,510 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 29686, located in Mountain Rest, SC within the Oconee County, SC metro, presents an interesting mix of characteristics when compared to typical ZIP codes in the area. The Fair Market Rent (FMR) for ZIP 29686 is set at $1,000 for fiscal year 2026, which serves as a benchmark for affordable rental housing standards. However, the market rent figure is not available, suggesting that the actual rental rates may vary significantly from the FMR.
The median home value in ZIP 29686 stands at $321,937. This figure can be used to gauge the overall property value within the area. When considering the renter share, which is 16.8%, it indicates that nearly one in six residents are renters. This percentage is relatively low compared to many urban areas but can still represent a significant portion of the local housing market.
To determine whether ZIP 29686 is a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro, we must consider the context of Oconee County, SC's broader housing market. Given the specific figures provided, ZIP 29686 appears to be a mid-tier neighborhood. The FMR of $1,000 suggests that it offers affordable rental options, though the lack of market rent data makes a direct comparison challenging. The home value of $321,937 is likely reflective of the county's average, placing it neither in the lower nor higher echelons of property values.
The low renter share might imply a less attractive area for Section 8 tenants, who typically represent a larger percentage of renters in areas with higher concentrations of affordable housing. However, the presence of a defined FMR suggests that there are still opportunities for landlords participating in the Section 8 program. While the divergence between the FMR and the median home value does not indicate a clear Section 8 sweet spot, it does suggest that landlords in ZIP 29686 could benefit from understanding both the subsidized housing market and the broader rental market dynamics.
Small-portfolio investors looking to enter the Oconee County, SC market should consider the balance between rental income and potential Section 8 participation. ZIP 29686 offers a moderate approach, with neither exceptionally high nor low property values, making it a suitable location for those seeking stability and a reasonable return on investment.
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.