Section 8 Fair Market Rent (FMR) for ZIP 29927 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 29927

• HOUSING AUTHORITY OF BEAUFORT (Beaufort, SC) - 647 Section 8 vouchers

The ZIP code 29927, located in the heart of Summerville, South Carolina, offers a stable and growing rental market for landlords and small-portfolio investors. With its proximity to Charleston and a mix of suburban charm and urban amenities, it provides a solid foundation for investment opportunities.

• Fair Market Rent (FMR) for ZIP 29927 is set at $1,310 for FY 2024. This figure represents the maximum amount that a tenant can be expected to pay for a two-bedroom apartment under the Section 8 program, indicating a baseline for subsidized housing demand.
• The market rent, measured by Zillow's ZORI, stands at $1,742. This suggests that the unsubsidized rental market is significantly higher than the FMR, offering potential for higher returns on investment for properties not tied to the Section 8 program.
• The median home value in the area is $418,795. This relatively high median value reflects the overall desirability of the neighborhood, which can translate into a steady demand for both rental and purchase properties.
• Renters make up 24.4% of the population in ZIP 29927. This indicates a moderate rental market presence, suggesting there is room for growth and investment without being oversaturated.
• The days on market (DOM) average is 53 days. This implies a reasonably quick turnover for rentals, which can be beneficial for landlords looking to minimize vacancy periods and maximize cash flow.
• The median household income is $72,821. This economic indicator shows that residents have the financial capacity to afford rent, supporting the viability of the rental market and reducing the risk of default for landlords.

Synthesizing these points, ZIP 29927 presents a balanced opportunity for real estate investment. The gap between FMR and ZORI suggests a diverse tenant pool, while the median home value and income levels indicate a healthy local economy capable of sustaining rental rates. A moderate renter share and quick DOM averages point towards a stable and efficient rental market. For investors, this means a favorable environment where properties can be rented at competitive rates, ensuring consistent cash flow and a positive return on investment.

Data Sources: FMR data from HUD (2027). 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.