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Charleston County/Charleston/29407

29407

ZIPSAFMR
Charleston County, SC
Zillow

ZIP Investment Score

94Below average

095130300
BRFMR
Eff. Rent
0 BR$1,680$1,500
1 BR$1,750$1,700
2 BR$1,910$2,060
3 BR$2,370$2,610
4 BR$2,720$2,990
5 BR$3,128Not available
6 BR$3,597Not available
7 BR$4,137Not available
8 BR$4,757Not available

Purchase Price Calculator

Maximum purchase price
$244,199

Cost breakdown

+Likely effective rent$2,060
HUD FMR$1,910
Market rent$2,140
Est. payment standard (108%)Used$2,060
-Principal and interest-$1,235
Loan amount$195,359
Down payment$48,840
Rate6.50%
Term30 years
-Operating costs-$625
Property taxes-$244
Insurance-$175
Utilities$0
HOA$0
Management-$206
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,976(67.5% ROI)
Projected value
$262,975
Return breakdown
Property appreciation+$18,777
Loan principal paid down+$6,999
Rental cash flow+$7,200
5-year hold
+$56,571(115.8% ROI)
Projected value
$276,288
Return breakdown
Property appreciation+$32,090
Loan principal paid down+$12,482
Rental cash flow+$12,000
10-year hold
+$122,137(250.1% ROI)
Projected value
$312,595
Return breakdown
Property appreciation+$68,396
Loan principal paid down+$29,741
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.12
1 BR
1.03
2 BR
0.89
3 BR
0.85
4 BR
0.82
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 29407 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29407 (Charleston, SC) is $1,910 a month. That is up 1.6% from $1,880 in FY 2026. Charleston is in the Charleston-North Charleston, SC MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 42 ZIP codes in Charleston County, 29407 is tied for the 16th-highest two-bedroom rent (county range $1,220–$2,830). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29407 is 74% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29407
BedroomsFY 2027Change90–110% range
Studio$1,680+2.4%$1,512–$1,848
1BR$1,750+1.7%$1,575–$1,925
2BR$1,910+1.6%$1,719–$2,101
3BR$2,370+1.3%$2,133–$2,607
4BR$2,720+0.7%$2,448–$2,992

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29407
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,680$1,750$1,910$2,370$2,720
FY 2026$1,640$1,720$1,880$2,340$2,700
FY 2025$1,620$1,680$1,860$2,300$2,710
FY 2024$1,390$1,430$1,600$1,980$2,400
FY 2023$1,330$1,360$1,540$1,910$2,410

Two-bedroom rent in nearby Charleston County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 29407
29401$2,400+25.7%
29402$1,9100.0%
29403$2,190+14.7%
29404$2,260+18.3%
29405$1,580−17.3%
29406$1,750−8.4%
29407Current$1,910—
29409$2,190+14.7%
29410$1,700−11.0%
29412$2,190+14.7%
29413$1,9100.0%
29414$2,150+12.6%

Questions about ZIP 29407 rents

How much will Section 8 pay for a two-bedroom in ZIP 29407?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $1,910, that basic range is $1,719 to $2,101 a month. 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 29407 in?

ZIP 29407 is in the Charleston-North Charleston, SC MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 29407 for FY 2027?

The two-bedroom FMR rose 1.6%, from $1,880 in FY 2026 to $1,910 in FY 2027. Since FY 2023 it has risen 24.0%.

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