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Spartanburg County/Chesnee/29323

29323

ZIPSAFMR
Spartanburg County, SC
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$940$1,030
1 BR$980$980
2 BR$1,070$1,070
3 BR$1,300$1,300
4 BR$1,500$1,620
5 BR$1,725Not available
6 BR$1,984Not available
7 BR$2,281Not available
8 BR$2,624Not available

Purchase Price Calculator

Maximum purchase price
$97,085

Cost breakdown

+Likely effective rent$1,070
HUD FMRUsed$1,070
Market rentN/A
Est. payment standardN/A
-Principal and interest-$491
Loan amount$77,668
Down payment$19,417
Rate6.50%
Term30 years
-Operating costs-$379
Property taxes-$97
Insurance-$175
Utilities$0
HOA$0
Management-$107
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$17,448(89.9% ROI)
Projected value
$104,550
Return breakdown
Property appreciation+$7,465
Loan principal paid down+$2,783
Rental cash flow+$7,200
5-year hold
+$29,720(153.1% ROI)
Projected value
$109,843
Return breakdown
Property appreciation+$12,758
Loan principal paid down+$4,962
Rental cash flow+$12,000
10-year hold
+$63,016(324.5% ROI)
Projected value
$124,277
Return breakdown
Property appreciation+$27,192
Loan principal paid down+$11,824
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.71
4 BR
0.89
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 29323 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29323 (Chesnee, SC) is $1,070 a month. That is down 1.8% from $1,090 in FY 2026. Chesnee is in the Spartanburg, SC HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,196. Among 39 ZIP codes in Spartanburg County, 29323 is tied for the 31st-highest two-bedroom rent (county range $1,070–$1,790). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29323 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29323
BedroomsFY 2027Change90–110% range
Studio$940−1.1%$846–$1,034
1BR$980−1.0%$882–$1,078
2BR$1,070−1.8%$963–$1,177
3BR$1,300−3.7%$1,170–$1,430
4BR$1,500+2.0%$1,350–$1,650

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29323
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$940$980$1,070$1,300$1,500
FY 2026$950$990$1,090$1,350$1,470
FY 2025$880$920$1,030$1,310$1,390
FY 2024$820$860$960$1,220$1,290
FY 2023$710$730$820$1,070$1,100

Two-bedroom rent in nearby Spartanburg County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 29323
29316$1,290+20.6%
29320$1,360+27.1%
29322$1,210+13.1%
29323Current$1,070—
29324$1,160+8.4%
29329$1,160+8.4%
29330$1,0700.0%
29331$1,200+12.1%
29333$1,590+48.6%
29334$1,380+29.0%
29335$1,0700.0%
29336$1,200+12.1%

Questions about ZIP 29323 rents

How much will Section 8 pay for a two-bedroom in ZIP 29323?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,196, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,076 to $1,316 a month; under the ZIP-level Small Area FMR of $1,070 it would be $963 to $1,177. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 29323 in?

ZIP 29323 is in the Spartanburg, SC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,196.

How much did fair market rent change in ZIP 29323 for FY 2027?

The two-bedroom FMR fell 1.8%, from $1,090 in FY 2026 to $1,070 in FY 2027. Since FY 2023 it has risen 30.5%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentChesnee, SC fair market rentSC statewide rentsWhat is SAFMR?Data sources