FY2027 Small Area FMR · Ravenel, SC
ZIP 29470 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 29470 (Ravenel, SC) is $1,220 a month, down 6.2% from FY2026. That is 35% below the Charleston-North Charleston, SC area-wide FMR of $1,884.
Payment standard range, 2 bedrooms
Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.
FY2027 FY2026
Where 29470 sits in the Charleston-North Charleston, SC area
Of the 62 ZIP codes HUD lists for the area, 29470 has the 51st highest two-bedroom Small Area FMR. Charleston-North Charleston, SC is one of the 65 metro areas where HUD requires Small Area FMRs for the Housing Choice Voucher program (designated 2023), so local housing agencies must set payment standards from this ZIP code's figure, normally between $1,098 and $1,342 for two bedrooms.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,080 | $972 – $1,188 | $1,661 | $1,130 |
| 1 bedroom | $1,120 | $1,008 – $1,232 | $1,731 | $1,170 |
| 2 bedrooms | $1,220 | $1,098 – $1,342 | $1,884 | $1,300 |
| 3 bedrooms | $1,510 | $1,359 – $1,661 | $2,336 | $1,620 |
| 4 bedrooms | $1,770 | $1,593 – $1,947 | $2,687 | $1,960 |
A household renting a two-bedroom home at the Small Area FMR of $1,220 needs about $48,800 a year to keep housing costs at 30% of income. The area median family income is $117,500 and the 80% low-income limit for four people is $94,000. ZIP code 29470 lies mainly in Charleston County and Dorchester County. See the Charleston-North Charleston, SC metro page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 29470?
HUD's FY2027 Small Area Fair Market Rents for 29470 are $1,080 (studio), $1,120 (1 BR), $1,220 (2 BR), $1,510 (3 BR) and $1,770 (4 BR) a month.
What is the Section 8 payment standard in 29470?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 29470 that range is $1,098 to $1,342 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 29470?
The FY2026 income limits of the Charleston-North Charleston, SC area apply: median family income $117,500, low-income (80%) limit $94,000 for a family of four.