Section 8 Fair Market Rent (FMR) for ZIP 29851 - 2027

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

Investment Score for ZIP 29851

Monthly Rent (2BR)

$1,310

Median Price (2BR)

$126,412

1% Rule

1.04%

Annual Yield

12.44%

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	$980
1 Bedroom	$1,180
2 Bedrooms	$1,310
3 Bedrooms	$1,650
4 Bedrooms	$2,010
5 Bedrooms	$2,332
6 Bedrooms	$2,612
7 Bedrooms	$2,821
8 Bedrooms	$2,962

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
2BR	$1,310	$126,412	1.04%	B
3BR	$1,650	$238,962	0.69%	D
4BR	$2,010	$301,081	0.67%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

9,070

Median Household Income

$70,953

Housing Units

4,029

Renter Percentage

19.7%

Occupancy Rate

85.3%

Renter Occupied

676

Warrenville, SC, located in ZIP code 29851, is a small community that offers potential for real estate investment, particularly in the rental market. The area's demographics and housing values provide insight into the opportunities and challenges faced by landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 29851 in fiscal year 2024 is set at $1,000, indicating the maximum amount a tenant should pay for a unit to be considered affordable.
The average market rent for the area, according to Census ACS data, stands at $1,095, suggesting that rents are slightly above the FMR threshold.
The median home value in Warrenville, SC, is $110,774, which is relatively low compared to national averages, making it accessible for first-time homebuyers and investors alike.
Renters make up 19.7% of the population, pointing to a modest but present demand for rental properties.
Median household income in the area is $70,953, providing a stable financial base for tenants to afford rent payments.

For landlords and small-portfolio investors, Warrenville, SC, presents a balanced opportunity. With rents just above the FMR, there is a slight margin for profit without being too far out of reach for tenants. The median home value indicates that property acquisition costs are lower than many other areas, potentially leading to higher returns on investment. However, the relatively low renter share suggests that the market may not be saturated with demand, so careful selection of properties is advised. Overall, Warrenville offers a stable environment for real estate investments, especially those focused on affordable housing segments.

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.