Location: Chester County, SC | Metro: Charlotte-Concord-Gastonia, NC-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 | $780 |
| 1 Bedroom | $790 |
| 2 Bedrooms | $1,020 |
| 3 Bedrooms | $1,400 |
| 4 Bedrooms | $1,470 |
| 5 Bedrooms | $1,705 |
| 6 Bedrooms | $1,910 |
| 7 Bedrooms | $2,063 |
| 8 Bedrooms | $2,166 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,020 | $145,138 | 0.7% | D |
| 3BR | $1,400 | $236,672 | 0.59% | F |
| 4BR | $1,470 | $288,083 | 0.51% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 29706, located in Eureka Mill, SC, within the Chester County, SC HUD Metro FMR Area, does not favor landlords. The Fair Market Rent (FMR) set at $910 for fiscal year 2024 contrasts sharply with the actual market rent reported by the Census ACS, which stands at $785. This discrepancy indicates that landlords may struggle to charge the FMR without losing potential tenants to more competitively priced options.
Acquisition in this area is relatively affordable. With a median home value of $189,565, purchasing properties is within reach for many investors. However, the lack of available data on days on market (DOM) and the low percentage of homes requiring price cuts (0.3%) suggest that the housing market may be tight, making it difficult to find distressed properties at bargain prices. This implies that investors should expect to pay closer to the median value when acquiring properties.
Tenant demand is present but limited. The ZIP code has a total population of 18,742, with 25.1% of residents being renters. While this represents a significant portion of the local populace, the overall size of the rental market is modest, indicating that landlords must cater to a niche group of tenants.
In summary, while the acquisition cost in ZIP 29706 is reasonable, the mismatch between the HUD-set FMR and the actual market rent poses a challenge for landlords aiming to maximize income. The presence of a moderate-sized rental market means that landlords can find tenants, but they must be prepared to offer competitive rents to attract them. Given these factors, investing in this area requires careful consideration of property management strategies to ensure profitability.
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.