Section 8 Fair Market Rent (FMR) for ZIP 29687 - 2027

Investment Score for ZIP 29687

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	$1,350
1 Bedroom	$1,410
2 Bedrooms	$1,530
3 Bedrooms	$1,830
4 Bedrooms	$2,160
5 Bedrooms	$2,506
6 Bedrooms	$2,807
7 Bedrooms	$3,032
8 Bedrooms	$3,184

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	$1,530	$208,834	0.73%	D
3BR	$1,830	$309,561	0.59%	F
4BR	$2,160	$417,134	0.52%	F
5BR	$2,506	$565,509	0.44%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29687 (Taylors, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 29687 (Taylors, SC) for 2026 indicate that the rent for a two-bedroom unit is set at $1360. This figure represents 20.4% of the median household income of $80,051 in the area. For a three-bedroom unit, the FMR is $1640, and for a four-bedroom unit, it is $1970. The FMRs are designed to reflect the average rental costs in the market, but they often fall below the actual market rates. In Taylors, the actual rents can be significantly higher than the FMRs. For instance, the Zillow median price for a two-bedroom home is $207,666, which translates to a monthly mortgage payment of approximately $1000-$1200 based on typical interest rates and loan terms. However, when considering the price-to-FMR ratio of 12.7x, it suggests that the actual rental prices are much higher than the FMRs. This means that tenants using Section 8 vouchers might face difficulties finding units that accept their vouchers due to the disparity between FMR and market rents. #### Affordability & Renter Profile With a population of 44,861, Taylors has a relatively high occupancy rate of 92.6%, indicating a robust demand for housing. The percentage of renters in the area is 24.6%, which is slightly above the national average. Given the median household income of $80,051, the cost of living is moderate, but the high price-to-FMR ratio suggests that the rental market is quite tight. For those who rent, the affordability of housing is a significant concern. With the FMR for a two-bedroom unit being only $1360, many potential renters might find it challenging to secure a unit within their budget. This tight market could lead to increased competition among renters, making it difficult for low-income families to find suitable housing. Additionally, the high price-to-FMR ratio indicates that landlords might prefer market-rate tenants over those using Section 8 vouchers, given the potential for higher returns. #### Investor Angle From an investor perspective, the ZIP code 29687 presents both opportunities and challenges. The high price-to-FMR ratio of 12.7x suggests that the actual rental market is much more expensive than what the FMRs indicate. This means that if an investor were to purchase a property and rent it out at the FMR, they would likely be operating at a loss compared to the market rate. However, there are still some positive aspects to consider. The occupancy rate of 92.6% indicates strong demand for rental properties, and the median household income of $80,051 suggests that the area is economically stable. Investors who are willing to work with Section 8 vouchers might find a niche market, but they must be prepared for lower rental income compared to market rates. To determine whether this ZIP code is cash-flow positive at FMR, we need to consider the typical expenses associated with owning a rental property. Assuming a two-bedroom unit costs around $207,666, a mortgage payment at a 4% interest rate would be approximately $1000 per month. Adding in property taxes, insurance, maintenance, and other expenses, the total monthly cost could easily exceed $1360. Therefore, renting at the FMR would likely result in negative cash flow unless the investor can significantly reduce costs or increase efficiency. #### Specific Actionable Insights 1. **Focus on Units Below FMR**: Investors should look for units that are priced below the FMR to ensure positive cash flow. For example, a two-bedroom unit priced at $1200 instead of $1360 would provide a buffer against unexpected expenses and still be within the FMR range. 2. **Consider Multi-Family Properties**: Given the high price-to-FMR ratio, single-family homes might not be the most viable option for Section 8-focused investors. Instead, multi-family properties could offer better economies of scale and potentially higher occupancy rates, leading to more stable cash flows. 3. **Engage with Local Housing Authorities**: Building relationships with local housing authorities can help landlords understand the nuances of working with Section 8 vouchers. This could include learning about additional subsidies or programs that might make the investment more attractive. #### Bottom Line For Section 8-focused investors, the ZIP code 29687 (Taylors, SC) is a challenging market due to the high price-to-FMR ratio and the tight rental market. While there is a strong demand for rental properties, the economics of renting at FMR levels are likely to result in negative cash flow. Therefore, the recommendation is to **Skip** this ZIP code for now unless investors can find units priced well below the FMR or have access to additional subsidies. If the goal is to hold properties for long-term appreciation, then this ZIP code might be worth considering, but it is not ideal for short-term cash flow-positive investments.

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.