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 | $780 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,040 |
| 3 Bedrooms | $1,310 |
| 4 Bedrooms | $1,590 |
| 5 Bedrooms | $1,844 |
| 6 Bedrooms | $2,065 |
| 7 Bedrooms | $2,230 |
| 8 Bedrooms | $2,342 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,040 | $117,543 | 0.88% | C |
| 3BR | $1,310 | $230,151 | 0.57% | F |
| 4BR | $1,590 | $438,339 | 0.36% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP code 29842, which encompasses Beech Island, SC, and is part of the Augusta-Richmond County, GA-SC HUD Metro FMR Area, does not align favorably. The Fair Market Rent (FMR) for the area is set at $920 for fiscal year 2024. However, the actual market rent, as per Census ACS data, stands at $738. This discrepancy suggests that landlords might struggle to command the higher FMR rate, leading to potential financial losses if rents are set too high.
Acquisition of properties in this ZIP code is relatively affordable. The median home value is $150,868, which is below the national average. While the number of days on the market (DOM) is not available, the fact that only 0.3% of homes have been listed with a price cut indicates a stable market where homes generally sell at their initial asking price. This low percentage also implies strong seller's confidence, which can be a positive signal for investment.
Tenant demand is present but not overwhelming. With a total population of 8,102, and 24.4% of residents being renters, there is a base of potential tenants. However, the relatively small renter share means that competition for rental units could be fierce, and landlords must ensure they offer competitive rents and amenities to attract and retain tenants.
In summary, while the acquisition cost of properties is reasonable, the current market conditions do not support setting rents at the FMR level. Landlords should aim to balance between the FMR and market rent to ensure profitability. Despite the modest renter share, there is sufficient tenant demand, provided that landlords are willing to adjust their expectations and compete effectively in the local market.
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.