Location: Chesterfield County, SC | Metro: Chesterfield 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 | $640 |
| 1 Bedroom | $680 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,150 |
| 4 Bedrooms | $1,220 |
| 5 Bedrooms | $1,415 |
| 6 Bedrooms | $1,585 |
| 7 Bedrooms | $1,712 |
| 8 Bedrooms | $1,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,150 | $221,244 | 0.52% | F |
U.S. Census Bureau data (2024)
The analysis of ZIP code 29709 in the Chesterfield County, SC metro area reveals key insights for landlords and small-portfolio investors.
The rent math does not favorably align for this area. The Fair Market Rent (FMR) for FY 2026 stands at $900, which is higher than the current market rent of $829. This suggests that landlords might struggle to charge the FMR without facing vacancy issues, as tenants are accustomed to paying lower rents.
Acquisition costs are relatively low, with the median home value set at $177,714. However, the lack of data on days on market (DOM) and the percentage of homes that have been discounted indicates uncertainty about how quickly properties can be sold and at what price point. This could pose challenges for investors looking to turn a quick profit.
Tenant demand is present but limited. With a population of 5,988, the renter share is 22.9%, translating to approximately 1,370 renters. This figure is modest, implying that competition for tenants could be high and vacancy rates might be a concern.
Verdict: While the median home value makes acquisition affordable, the mismatch between FMR and market rent, coupled with a limited renter pool, suggests that investing in ZIP 29709 requires careful consideration. Landlords should prepare for potential challenges in maintaining occupancy and achieving desired rental rates.
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.