FY2027 Small Area FMR · Myrtle Beach, SC
ZIP 29588 Fair Market Rent & Payment Standards
HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 29588 (Myrtle Beach, SC) is $1,540 a month, up 1.3% from FY2026. That is 2% above the Myrtle Beach-North Myrtle Beach-Conway, SC area-wide FMR of $1,504.
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 29588 sits in the Myrtle Beach-North Myrtle Beach-Conway, SC area
Of the 21 ZIP codes HUD lists for the area, 29588 has the 7th highest two-bedroom Small Area FMR. Myrtle Beach-North Myrtle Beach-Conway, 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 $1,504 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,540 for this ZIP code instead.
All unit sizes
| Unit | FY2027 SAFMR | Payment standard range | Area-wide FMR | FY2026 SAFMR |
|---|---|---|---|---|
| Studio | $1,180 | $1,062 – $1,298 | $1,155 | $1,190 |
| 1 bedroom | $1,290 | $1,161 – $1,419 | $1,258 | $1,280 |
| 2 bedrooms | $1,540 | $1,386 – $1,694 | $1,504 | $1,520 |
| 3 bedrooms | $1,870 | $1,683 – $2,057 | $1,823 | $1,870 |
| 4 bedrooms | $2,030 | $1,827 – $2,233 | $1,981 | $2,190 |
A household renting a two-bedroom home at the Small Area FMR of $1,540 needs about $61,600 a year to keep housing costs at 30% of income. The area median family income is $86,000 and the 80% low-income limit for four people is $68,800. ZIP code 29588 lies mainly in Horry County. See the Myrtle Beach-North Myrtle Beach-Conway, SC county page for the full income limits table and the household check.
Nearby ZIP codes
Questions
What is the Fair Market Rent for ZIP code 29588?
HUD's FY2027 Small Area Fair Market Rents for 29588 are $1,180 (studio), $1,290 (1 BR), $1,540 (2 BR), $1,870 (3 BR) and $2,030 (4 BR) a month.
What is the Section 8 payment standard in 29588?
Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 29588 that range is $1,386 to $1,694 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.
Which income limits apply in 29588?
The FY2026 income limits of the Myrtle Beach-North Myrtle Beach-Conway, SC area apply: median family income $86,000, low-income (80%) limit $68,800 for a family of four.