Section 8 Fair Market Rent (FMR) for ZIP 29832 - 2027

Location: Columbia, SC | Metro: Augusta-Richmond County, GA-SC HUD Metro FMR Area

Investment Score for ZIP 29832

Monthly Rent (2BR)

$1,010

Median Price (2BR)

$287,195

1% Rule

0.35%

Annual Yield

4.22%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$770
1 Bedroom	$910
2 Bedrooms	$1,010
3 Bedrooms	$1,270
4 Bedrooms	$1,530
5 Bedrooms	$1,775
6 Bedrooms	$1,988
7 Bedrooms	$2,147
8 Bedrooms	$2,254

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$910	$125,579	0.72%	D
2BR	$1,010	$287,195	0.35%	F
3BR	$1,270	$226,429	0.56%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

5,074

Median Household Income

$42,500

Housing Units

2,554

Renter Percentage

35.1%

Occupancy Rate

84.3%

Renter Occupied

756

Johnston, SC, located in the heart of South Carolina's midlands region, offers a blend of suburban charm and urban convenience. With its proximity to Columbia, the state capital, it attracts a diverse population seeking affordable living options. This market analysis delves into key metrics that define Johnston's rental landscape and provides insights for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for a two-bedroom apartment in Johnston, SC, for fiscal year 2024 is set at $1020. This figure serves as a benchmark for rental pricing in the area.
The average market rent for a one-bedroom apartment, according to the latest Census American Community Survey (ACS) data, stands at $515. This reflects the actual rental rates being charged in the local market.
The median home value in Johnston, SC, is $152,202. This indicates the typical cost of homeownership in the area, which can influence the rental market dynamics.
Renters make up 35.1% of the housing market in Johnston, SC. This suggests a significant portion of the population relies on rental properties, creating demand for landlords.
The median household income in Johnston, SC, is $42,500. This income level impacts the affordability of both rental and ownership costs for residents.

For landlords and small-portfolio investors, Johnston, SC, presents a stable rental market with opportunities to capitalize on the established demand for affordable housing. The discrepancy between the Fair Market Rent and the actual market rent indicates potential for price adjustments without losing tenants. The median home value and income levels suggest that Johnston remains attractive for first-time buyers and renters alike, ensuring a steady flow of potential tenants. However, with a 35.1% renter share, competition for rental properties is likely, necessitating well-maintained and competitively priced units to attract and retain occupants.

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.