FY2027 Small Area FMR · Gaffney, SC

ZIP 29340 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 29340 (Gaffney, SC) is $890 a month, down 1.1% from FY2026. That is 1% above the Cherokee County, SC area-wide FMR of $885.

2-bedroom SAFMR$890per month ▼ 1.1%

Area-wide 2 BR FMR$885Cherokee County, SC

Rank in the area9thof 9 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$801

2 BR Small Area FMR$890

110% of SAFMR$979

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$780▲ 2.6%

1 BR$820▲ 2.5%

2 BR$890▼ 1.1%

3 BR$1,110▼ 2.6%

4 BR$1,380▲ 2.2%

FY2027 FY2026

Where 29340 sits in the Cherokee County, SC area

Of the 9 ZIP codes HUD lists for the area, 29340 has the 9th highest two-bedroom Small Area FMR. Cherokee County, SC is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $885 for two bedrooms; an agency that opts in to Small Area FMRs would use $890 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$780	$702 – $858	$780	$760
1 bedroom	$820	$738 – $902	$813	$800
2 bedrooms	$890	$801 – $979	$885	$900
3 bedrooms	$1,110	$999 – $1,221	$1,106	$1,140
4 bedrooms	$1,380	$1,242 – $1,518	$1,371	$1,350

A household renting a two-bedroom home at the Small Area FMR of $890 needs about $35,600 a year to keep housing costs at 30% of income. The area median family income is $73,100 and the 80% low-income limit for four people is $59,700. ZIP code 29340 lies mainly in Cherokee County. See the Cherokee County, SC county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
29717	Hickory Grove	7.9 mi	$1,320
29372	Pacolet	8.6 mi	$1,070
29373	Pacolet Mills	9.7 mi	$1,070
29353	Jonesville	10.4 mi	$940
29743	Smyrna	11.4 mi	$1,010
29702	Blacksburg	11.8 mi	$1,010

Questions

What is the Fair Market Rent for ZIP code 29340?

HUD's FY2027 Small Area Fair Market Rents for 29340 are $780 (studio), $820 (1 BR), $890 (2 BR), $1,110 (3 BR) and $1,380 (4 BR) a month.

What is the Section 8 payment standard in 29340?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 29340 that range is $801 to $979 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 29340?

The FY2026 income limits of the Cherokee County, SC area apply: median family income $73,100, low-income (80%) limit $59,700 for a family of four.