Location: Augusta-Richmond County, GA | Metro: Augusta-Richmond County, GA-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 | $980 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $1,990 |
| 5 Bedrooms | $2,308 |
| 6 Bedrooms | $2,585 |
| 7 Bedrooms | $2,792 |
| 8 Bedrooms | $2,932 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,300 | $194,102 | 0.67% | D |
| 3BR | $1,640 | $250,623 | 0.65% | D |
| 4BR | $1,990 | $325,524 | 0.61% | D |
| 5BR | $2,308 | $367,292 | 0.63% | D |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 29801, Aiken, SC, reveals a balanced market with implications for both pricing power and investment strategy. The median home value stands at $214,739, indicating a relatively affordable housing market that can attract first-time buyers and investors alike. Despite this, only 0.3% of listings have reduced their prices, which suggests that sellers maintain a firm grip on pricing. This resilience is further supported by the median days on market (DOM) figure of 40 days, implying that homes are selling relatively quickly without significant price adjustments.
For landlords and small-portfolio investors, the interplay between the rental and sales markets is critical. The Fair Market Rent (FMR) for ZIP 29801 in fiscal year 2024 is projected to be $1,080, whereas the actual market rent, measured by Zillow's ZORI index, is $1,526. This gap highlights a strong demand for rental properties, suggesting that landlords can command higher rents than the government benchmark. However, it also underscores the potential for increased competition among rental properties, given the higher market rates.
The setup in ZIP 29801 implies a stable pricing environment for the near future. With a low percentage of price reductions and quick sales, landlords and investors can expect to retain some level of pricing power. However, the long-term appreciation thesis is less robust. Given the relatively low median home value and the current rental dynamics, appreciation is likely to be modest, driven primarily by steady demand rather than speculative bubbles. Investors should focus on cash flow from rentals rather than rapid capital appreciation, as the market signals a more conservative growth trajectory.
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.