FMR is near market; voucher and private rents are aligned.
1.09
1 BR
1 BR
0.93ratio
FMR$990
Market$1,070
vs market-$80
FMR is near market; voucher and private rents are aligned.
0.93
2 BR
2 BR
1.02ratio
FMR$1,120
Market$1,100
vs market+$20
FMR is near market; voucher and private rents are aligned.
1.02
3 BR
3 BR
0.88ratio
FMR$1,440
Market$1,640
vs market-$200
FMR is below market; voucher rent may lag private rents.
0.88
4 BR
4 BR
0.79ratio
FMR$1,540
Market$1,940
vs market-$400
FMR is below market; voucher rent may lag private rents.
0.79
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 29502 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29502 (Florence, SC) is $1,120 a month. That is unchanged from FY 2026. Florence is in the Florence, 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 $1,121. Among 14 ZIP codes in Florence County, 29502 is tied for the 4th-highest two-bedroom rent (county range $1,010–$1,370). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29502 is 2% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 29502
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$950
$980
+3.2%
$882–$1,078
1BR
$960
$990
+3.1%
$891–$1,089
2BR
$1,120
$1,120
0.0%
$1,008–$1,232
3BR
$1,440
$1,440
0.0%
$1,296–$1,584
4BR
$1,590
$1,540
−3.1%
$1,386–$1,694
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 29502
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$980
$990
$1,120
$1,440
$1,540
FY 2026
$950
$960
$1,120
$1,440
$1,590
FY 2025
$860
$870
$1,070
$1,370
$1,470
FY 2024
$790
$790
$1,010
$1,280
$1,370
FY 2023
$700
$710
$930
$1,180
$1,250
Two-bedroom rent in nearby Florence County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 29502?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,121, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,009 to $1,233 a month; under the ZIP-level Small Area FMR of $1,120 it would be $1,008 to $1,232. 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 29502 in?
ZIP 29502 is in the Florence, SC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,121.
How much did fair market rent change in ZIP 29502 for FY 2027?
The two-bedroom FMR was unchanged at $1,120 in FY 2027. Since FY 2023 it has risen 20.4%.
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