Location: Chesterfield County, SC | Metro: Chesterfield County, SC
| Unit Size | Monthly FMR |
|---|---|
| Studio | $690 |
| 1 Bedroom | $700 |
| 2 Bedrooms | $900 |
| 3 Bedrooms | $1,160 |
| 4 Bedrooms | $1,290 |
| 5 Bedrooms | $1,496 |
| 6 Bedrooms | $1,676 |
| 7 Bedrooms | $1,810 |
| 8 Bedrooms | $1,901 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 29741 in the Chesterfield County, SC metro area reveals several key points for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the area is set at $1,000 per month for the fiscal year 2026. This figure is significantly higher than the average market rent reported by the Census ACS, which stands at $729 per month. Given this disparity, landlords can expect to cashflow positively when renting to voucher tenants at the HUD FMR rate.
To further analyze the investment potential, consider the median home value in ZIP 29741, which is $156,890. Using this data point, we can calculate the rent-to-price ratio. At an average market rent of $729, the ratio is approximately 0.52%, suggesting that rental income alone would not justify the purchase price based on typical real estate investment criteria. However, the higher HUD FMR rate of $1,000 brings the rent-to-price ratio up to 0.64%, making it more appealing for investors focused on positive cash flow.
The dynamics between renting and buying in this market are also noteworthy. With the median Days on Market (DOM) being N/A and the percentage of homes that have experienced price cuts being N/A%, these metrics do not provide enough information to fully assess the health of the housing market. Nonetheless, the fact that voucher tenants can pay rents above the market average indicates a stable demand for rental properties.
The strongest angle for investors in ZIP 29741 is cash flow. Landlords who accept Section 8 vouchers will benefit from the higher HUD FMR rate, ensuring a steady and reliable income stream that exceeds the current market rent. This makes the area particularly attractive for those seeking consistent returns on their investments.
Data Sources: FMR data from HUD (2027). 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.