29587

ZIPSAFMR

Horry County, SC

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,150	$1,270	0.9%
1 BR	$1,250	$1,280	1.7%
2 BR	$1,500	$1,440	3.3%
3 BR	$1,820	$2,000	1.9%
4 BR	$1,980	$2,180	-0.3%
5 BR	$2,277	Not available	-0.3%
6 BR	$2,619	Not available	-0.3%
7 BR	$3,011	Not available	-0.3%
8 BR	$3,463	Not available	-0.3%

Purchase Price Calculator

Maximum purchase price

$152,067

Cost breakdown

+Likely effective rent$1,440

HUD FMR$1,500

Market rentUsed$1,440

Est. payment standard (97%)$1,460

-Principal and interest-$769

Loan amount$121,654

Down payment$30,413

Rate6.50%

Term30 years

-Operating costs-$471

Property taxes-$152

Insurance-$175

Utilities$0

HOA$0

Management-$144

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$23,251(76.5% ROI)

Projected value

$163,759

Return breakdown

Property appreciation+$11,693

Loan principal paid down+$4,359

Rental cash flow+$7,200

5-year hold

+$39,755(130.7% ROI)

Projected value

$172,050

Return breakdown

Property appreciation+$19,983

Loan principal paid down+$7,772

Rental cash flow+$12,000

10-year hold

+$85,112(279.9% ROI)

Projected value

$194,659

Return breakdown

Property appreciation+$42,592

Loan principal paid down+$18,520

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

0.77ratio

FMR$1,150

Market$1,500

vs market-$350

FMR is below market; voucher rent may lag private rents.

0.77

1 BR

0.96ratio

FMR$1,250

Market$1,300

vs market-$50

FMR is near market; voucher and private rents are aligned.

0.96

2 BR

1.04ratio

FMR$1,500

Market$1,440

vs market+$60

FMR is near market; voucher and private rents are aligned.

1.04

3 BR

0.87ratio

FMR$1,820

Market$2,100

vs market-$280

FMR is below market; voucher rent may lag private rents.

0.87

4 BR

0.85ratio

FMR$1,980

Market$2,330

vs market-$350

FMR is below market; voucher rent may lag private rents.

0.85

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 29587 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 29587 (Myrtle Beach, SC) is $1,500 a month. That is up 2.0% from $1,470 in FY 2026. Myrtle Beach is in the Myrtle Beach-North Myrtle Beach-Conway, 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 $1,504. Among 21 ZIP codes in Horry County, 29587 is tied for the 8th-highest two-bedroom rent (county range $1,320–$1,870). The median county two-bedroom FMR in South Carolina is $1,098, so ZIP 29587 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 29587
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,150	$1,150	0.0%	$1,035–$1,265
1BR	$1,230	$1,250	+1.6%	$1,125–$1,375
2BR	$1,470	$1,500	+2.0%	$1,350–$1,650
3BR	$1,810	$1,820	+0.6%	$1,638–$2,002
4BR	$2,120	$1,980	−6.6%	$1,782–$2,178

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 29587
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,150	$1,250	$1,500	$1,820	$1,980
FY 2026	$1,150	$1,230	$1,470	$1,810	$2,120
FY 2025	$1,140	$1,200	$1,410	$1,780	$2,070
FY 2024	$1,120	$1,190	$1,360	$1,720	$2,000
FY 2023	$960	$990	$1,140	$1,450	$1,640

Two-bedroom rent in nearby Horry County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 29587
29572	$1,500	0.0%
29575	$1,590	+6.0%
29576	$1,720	+14.7%
29577	$1,420	−5.3%
29578	$1,500	0.0%
29579	$1,840	+22.7%
29581	$1,320	−12.0%
29582	$1,550	+3.3%
29587Current	$1,500	—
29588	$1,540	+2.7%
29597	$1,500	0.0%
29598	$1,500	0.0%

Questions about ZIP 29587 rents

How much will Section 8 pay for a two-bedroom in ZIP 29587?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,504, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,354 to $1,654 a month; under the ZIP-level Small Area FMR of $1,500 it would be $1,350 to $1,650. 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 29587 in?

ZIP 29587 is in the Myrtle Beach-North Myrtle Beach-Conway, SC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,504.

How much did fair market rent change in ZIP 29587 for FY 2027?

The two-bedroom FMR rose 2.0%, from $1,470 in FY 2026 to $1,500 in FY 2027. Since FY 2023 it has risen 31.6%.

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 rent Myrtle Beach, SC fair market rent SC statewide rents What is SAFMR?Data sources