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Florence County/Florence/29505

29505

ZIPSAFMR
Florence County, SC
Zillow

ZIP Investment Score

101Above average

095130300
BRFMR
Eff. Rent
0 BR$1,200$1,040
1 BR$1,210$1,110
2 BR$1,370$1,200
3 BR$1,770$1,610
4 BR$1,890$1,630
5 BR$2,174Not available
6 BR$2,500Not available
7 BR$2,874Not available
8 BR$3,306Not available

Purchase Price Calculator

Maximum purchase price
$116,403

Cost breakdown

+Likely effective rent$1,200
HUD FMR$1,370
Market rentUsed$1,200
Est. payment standard (92%)$1,260
-Principal and interest-$589
Loan amount$93,122
Down payment$23,281
Rate6.50%
Term30 years
-Operating costs-$411
Property taxes-$116
Insurance-$175
Utilities$0
HOA$0
Management-$120
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$19,487(83.7% ROI)
Projected value
$125,353
Return breakdown
Property appreciation+$8,950
Loan principal paid down+$3,336
Rental cash flow+$7,200
5-year hold
+$33,246(142.8% ROI)
Projected value
$131,699
Return breakdown
Property appreciation+$15,296
Loan principal paid down+$5,950
Rental cash flow+$12,000
10-year hold
+$70,780(304.0% ROI)
Projected value
$149,006
Return breakdown
Property appreciation+$32,603
Loan principal paid down+$14,177
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.15
1 BR
1.09
2 BR
1.14
3 BR
1.10
4 BR
1.16
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 29505 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29505 (Florence, SC) is $1,370 a month. That is down 0.7% from $1,380 in 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, 29505 has the highest two-bedroom rent (county range $1,010–$1,370). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29505 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29505
BedroomsFY 2027Change90–110% range
Studio$1,200+2.6%$1,080–$1,320
1BR$1,210+2.5%$1,089–$1,331
2BR$1,370−0.7%$1,233–$1,507
3BR$1,7700.0%$1,593–$1,947
4BR$1,890−3.6%$1,701–$2,079

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29505
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,200$1,210$1,370$1,770$1,890
FY 2026$1,170$1,180$1,380$1,770$1,960
FY 2025$1,040$1,040$1,290$1,650$1,770
FY 2024$930$940$1,200$1,520$1,630
FY 2023$810$810$1,070$1,350$1,440

Two-bedroom rent in nearby Florence County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 29505
29501$1,270−7.3%
29502$1,120−18.2%
29503$1,120−18.2%
29505Current$1,370—
29506$1,010−26.3%
29530$1,010−26.3%
29541$1,200−12.4%
29554$1,090−20.4%
29555$1,090−20.4%
29560$1,010−26.3%
29583$1,010−26.3%
29591$1,010−26.3%

Questions about ZIP 29505 rents

How much will Section 8 pay for a two-bedroom in ZIP 29505?

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 $1,370 it would be $1,233 to $1,507. 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 29505 in?

ZIP 29505 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 29505 for FY 2027?

The two-bedroom FMR fell 0.7%, from $1,380 in FY 2026 to $1,370 in FY 2027. Since FY 2023 it has risen 28.0%.

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