Section 8 Fair Market Rent (FMR) for ZIP 29910 - 2027

Investment Score for ZIP 29910

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	$2,180
1 Bedroom	$2,270
2 Bedrooms	$2,470
3 Bedrooms	$2,940
4 Bedrooms	$3,540
5 Bedrooms	$4,106
6 Bedrooms	$4,599
7 Bedrooms	$4,967
8 Bedrooms	$5,215

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	$2,270	$382,300	0.59%	F
2BR	$2,470	$312,188	0.79%	D
3BR	$2,940	$474,904	0.62%	D
4BR	$3,540	$674,744	0.52%	F
5BR	$4,106	$1,079,306	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 29910 (Bluffton, SC) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 29910, as per HUD's 2026 estimates, is set at $2250 for a two-bedroom unit. This represents 27.3% of the median household income in Bluffton, which is $98,912. However, the actual rental market in Bluffton is significantly higher. According to Zillow, the median price for a two-bedroom home is $308,483, which translates into a monthly rent of approximately $1285 per month if we assume a typical rent-to-price ratio of 0.5%. The price-to-FMR ratio of 11.4x indicates that the actual market rents are much higher than the FMRs. This means that tenants using Section 8 vouchers face significant constraints. They can only afford units up to the FMR limit, which is far below the market rates. For instance, a tenant with a two-bedroom voucher would struggle to find a property renting for $2250 when the average market rate is likely closer to $1285 per month based on the median home price. Consequently, voucher holders are limited to a small subset of the available rental properties, often those that are older or in less desirable locations. #### Affordability & Renter Profile Bluffton has a population of 53,019, with 22.8% of residents being renters. The occupancy rate is quite high at 92.5%, indicating a robust demand for housing. Given the median household income of $98,912, it’s clear that Bluffton is a relatively affluent area. However, the high occupancy rate and low percentage of renters suggest that the rental market is tight, with fewer units available compared to other areas. The high median home price of $308,483 implies that homeownership is expensive, and many potential renters might be priced out of the market. This creates a challenging environment for those relying on Section 8 vouchers, who must navigate a market where affordable units are scarce. The tight market conditions mean that landlords have considerable leverage, and they are likely to charge rents well above the FMRs. #### Investor Angle From an investor perspective, the ZIP code 29910 presents mixed opportunities. While the high median home price suggests strong appreciation potential, the tight rental market and high occupancy rate indicate that finding tenants willing to pay market rates should not be difficult. However, the challenge lies in the disparity between market rents and FMRs. To determine whether this ZIP code is cash-flow positive at FMR, we need to consider the typical operating costs. Assuming a conservative estimate of 50% of the rent going towards expenses (including mortgage payments, maintenance, insurance, and taxes), a landlord accepting a two-bedroom voucher at $2250 would have an effective net income of about $1125 per month. This is substantially lower than what could be earned by renting at market rates, which are likely around $1285 per month based on the median home price. Given the high price-to-FMR ratio, the investment grade for Section 8-focused properties in Bluffton is relatively low. Investors looking to maximize returns would likely find better opportunities in areas with a lower price-to-FMR ratio, where they can more easily cover their costs with the FMRs. #### Specific Actionable Insights 1. **Target Affordable Units**: Focus on acquiring properties that are already priced within the FMR range. For example, a two-bedroom unit renting for $2250 would be ideal for a Section 8 tenant. Ensure that these units are well-maintained and meet all necessary standards to attract and retain tenants. 2. **Consider Short-Term Rentals**: Given the tight market and high occupancy rates, short-term rentals might offer a more lucrative option. Properties that can command higher nightly rates due to tourism or seasonal demand can provide better cash flow compared to long-term rentals at FMR. 3. **Develop Relationships with Local Agencies**: Building relationships with local housing authorities and Section 8 administrators can help landlords stay informed about any changes in policy or funding that might affect the availability and use of vouchers. This can also facilitate quicker leasing processes and reduce vacancy rates. #### Bottom Line For investors focusing specifically on Section 8 vouchers, the recommendation for ZIP code 29910 is to **Skip**. The high price-to-FMR ratio and tight rental market make it challenging to achieve positive cash flow solely through FMR-based rentals. Instead, investors might want to explore opportunities in more affordable markets where the gap between FMR and market rents is narrower, or consider diversifying their investment strategy to include short-term rentals or other types of properties that can generate higher revenue.

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.