Location: Allendale County, SC | Metro: Allendale 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 | $750 |
| 2 Bedrooms | $890 |
| 3 Bedrooms | $1,100 |
| 4 Bedrooms | $1,190 |
| 5 Bedrooms | $1,380 |
| 6 Bedrooms | $1,546 |
| 7 Bedrooms | $1,670 |
| 8 Bedrooms | $1,754 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $890 | $41,328 | 2.15% | A+ |
| 3BR | $1,100 | $65,310 | 1.68% | A+ |
U.S. Census Bureau data (2024)
Allendale, SC, zip code 29810, is a modest-sized community with a population of 3,775 residents. A significant portion of the neighborhood, 36.8%, consists of renters, indicating a substantial demand for rental properties. The median household income in Allendale is $26,835, which is notably lower than the national average, suggesting that many residents rely on affordable housing options. The median home value stands at $62,712, reflecting the overall affordability of the area.
From an investment perspective, the Federal Market Rent (FMR) for the metro area for fiscal year 2026 is set at $900, whereas the current market rent, according to the Census ACS, is $646. This discrepancy presents an opportunity for Section 8 investors, as the government-subsidized rent can potentially cover the cost of maintaining and operating properties at a higher rate than the local market would otherwise support.
The economic landscape of Allendale suggests that it is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the alignment between the FMR and the potential operational costs of properties makes it feasible to manage units without active involvement in tenant management. On the other hand, value-add buyers could benefit from the gap between FMR and market rents by improving properties to command closer to the FMR rates, thus increasing their cash flow.
To conclude, Allendale, SC, offers a blend of characteristics that make it attractive for Section 8 investments. With a significant rental market share and a population that benefits from affordable housing, the area provides a stable base for rental income. The difference between the FMR and current market rents opens up opportunities for both passive and active investors to maximize returns while serving a community in need.
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.