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Charleston County/Isle of Palms/29451

29451

ZIPSAFMR
Charleston County, SC
Zillow

ZIP Investment Score

47Below average

095130300
BRFMR
Eff. Rent
0 BR$2,500$1,700
1 BR$2,600$2,300
2 BR$2,830$2,940
3 BR$3,510$3,800
4 BR$4,040$4,220
5 BR$4,646Not available
6 BR$5,343Not available
7 BR$6,144Not available
8 BR$7,066Not available

Purchase Price Calculator

Maximum purchase price
$374,966

Cost breakdown

+Likely effective rent$2,940
HUD FMR$2,830
Market rent$3,000
Est. payment standard (104%)Used$2,940
-Principal and interest-$1,896
Loan amount$299,973
Down payment$74,993
Rate6.50%
Term30 years
-Operating costs-$844
Property taxes-$375
Insurance-$175
Utilities$0
HOA$0
Management-$294
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$46,779(62.4% ROI)
Projected value
$403,798
Return breakdown
Property appreciation+$28,831
Loan principal paid down+$10,747
Rental cash flow+$7,200
5-year hold
+$80,439(107.3% ROI)
Projected value
$424,240
Return breakdown
Property appreciation+$49,274
Loan principal paid down+$19,165
Rental cash flow+$12,000
10-year hold
+$174,690(232.9% ROI)
Projected value
$479,989
Return breakdown
Property appreciation+$105,022
Loan principal paid down+$45,668
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.47
1 BR
1.13
2 BR
0.94
3 BR
0.89
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 29451 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29451 (Isle of Palms, SC) is $2,830 a month. That is up 5.6% from $2,680 in FY 2026. Isle of Palms 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, 29451 is tied for the highest two-bedroom rent (county range $1,220–$2,830). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29451 is 158% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29451
BedroomsFY 2027Change90–110% range
Studio$2,500+7.3%$2,250–$2,750
1BR$2,600+6.6%$2,340–$2,860
2BR$2,830+5.6%$2,547–$3,113
3BR$3,510+5.4%$3,159–$3,861
4BR$4,040+5.2%$3,636–$4,444

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29451
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,500$2,600$2,830$3,510$4,040
FY 2026$2,330$2,440$2,680$3,330$3,840
FY 2025$2,370$2,470$2,730$3,380$3,980
FY 2024$2,080$2,140$2,400$2,970$3,610
FY 2023$1,990$2,040$2,300$2,860$3,600

Two-bedroom rent in nearby Charleston County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 29451
29438$1,240−56.2%
29439$2,500−11.7%
29449$1,520−46.3%
29450$2,140−24.4%
29451Current$2,830—
29453$1,570−44.5%
29455$1,860−34.3%
29456$1,890−33.2%
29457$1,910−32.5%
29458$1,920−32.2%
29464$2,430−14.1%
29465$1,910−32.5%

Questions about ZIP 29451 rents

How much will Section 8 pay for a two-bedroom in ZIP 29451?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,830, that basic range is $2,547 to $3,113 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 29451 in?

ZIP 29451 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 29451 for FY 2027?

The two-bedroom FMR rose 5.6%, from $2,680 in FY 2026 to $2,830 in FY 2027. Since FY 2023 it has risen 23.0%.

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 rentIsle of Palms, SC fair market rentSC statewide rentsWhat is SAFMR?Data sources