FMR is below market; voucher rent may lag private rents.
0.68
1 BR
1 BR
0.68ratio
FMR$1,080
Market$1,590
vs market-$510
FMR is below market; voucher rent may lag private rents.
0.68
2 BR
2 BR
0.71ratio
FMR$1,180
Market$1,670
vs market-$490
FMR is below market; voucher rent may lag private rents.
0.71
3 BR
3 BR
0.86ratio
FMR$1,440
Market$1,670
vs market-$230
FMR is below market; voucher rent may lag private rents.
0.86
4 BR
4 BR
0.92ratio
FMR$1,700
Market$1,850
vs market-$150
FMR is near market; voucher and private rents are aligned.
0.92
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 29338 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29338 (Fingerville, SC) is $1,180 a month. That is up 5.4% from $1,120 in FY 2026. Fingerville 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, 29338 is tied for the 20th-highest two-bedroom rent (county range $1,070–$1,790). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29338 is 8% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 29338
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$980
$1,040
+6.1%
$936–$1,144
1BR
$1,020
$1,080
+5.9%
$972–$1,188
2BR
$1,120
$1,180
+5.4%
$1,062–$1,298
3BR
$1,360
$1,440
+5.9%
$1,296–$1,584
4BR
$1,570
$1,700
+8.3%
$1,530–$1,870
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 29338
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,040
$1,080
$1,180
$1,440
$1,700
FY 2026
$980
$1,020
$1,120
$1,360
$1,570
FY 2025
$1,030
$1,070
$1,180
$1,450
$1,590
FY 2024
$980
$1,020
$1,140
$1,450
$1,530
FY 2023
$850
$880
$990
$1,290
$1,330
Two-bedroom rent in nearby Spartanburg County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 29338?
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 $1,180 it would be $1,062 to $1,298. 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 29338 in?
ZIP 29338 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 29338 for FY 2027?
The two-bedroom FMR rose 5.4%, from $1,120 in FY 2026 to $1,180 in FY 2027. Since FY 2023 it has risen 19.2%.
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