Builders Patch | HousingCount: South Carolina affordable housing data and latest news
South Carolina
Summary
South Carolina state is facing challenges to housing affordability. For every 100 low-income renter households, there are 71 units available that are affordable to them. The median household income in the state is $36,772 whereas the median rent in the state $762. Currently, the state is short over 43,184 low-income housing units, meaning rental units that are affordable to households earning ≤60% of AMI.
29.7%
share of renter households
40.5%
share of low-income households
44.3%
share of rent-burdened households
Renter population data
| Households | % share |
|---|---|
| Renter households | 586,430 |
| Homeowner households | 1,390,017 |
| Total households | 1,976,447 |
| Households | % share |
|---|---|
| Extremely low-income ≤30% AMI | 85,387 |
| Very low-income 31-50% AMI | 62,052 |
| Low-income 51-80% AMI | 89,843 |
| All low-income households <80% AMI | 237,282 |
| Households | % share |
|---|---|
| Moderately rent-burdened | 129,051 |
| 30.0–34.9% | 47,120 |
| 35.0–39.9% | 35,262 |
| 40.0-49.9% | 46,669 |
| Severely rent-burdened | 130,588 |
| ≥50.0% | 130,588 |
| All rent-burdened households | 259,639 |
Affordable housing shortage
| Median household income | Amount ($) |
|---|---|
| in 2010 | 26,769 |
| in 2021 | 36,772 |
| Increase (2010–2021) | 37.4% |
| Median rent | Amount ($) |
|---|---|
| in 2010 | 533 |
| in 2021 | 762 |
| Increase (2010–2021) | 43.0% |
| Units | Amount |
|---|---|
| Supply (current stock) | 104,255 |
| Demand (total units needed) | 147,439 |
| Shortage | 43,184 |
| 43,184 | |
| total shortage | 70.7% |
Finance institutions
South Carolina State Housing Finance and Development Authority
South Carolina State Housing Finance and Development Authority
300 Outlet Pointe Boulevard, Suite C
Columbia, SC 29210
LIST OF loan programs
- Housing Tax Credit (LIHTC)
- Multifamily Tax-Exempt Bond Financing (TEB)
- HOME-ARP
- HOME Investment Partnerships Program (HOME)
- SC Housing Trust Fund (HTF)
- Small Rental Development Program (SRDP)
- National Housing Trust Fund (NHTF)
QAP document (Qualified Allocation Plan)
QAP
The QAP is a document that states, and a few local agencies, must develop in order to distribute federal Low Income Housing Tax Credits (LIHTCs), which can be awarded only to a building that fits the QAP’s priorities and criteria. Each QAP must spell out a housing finance agency’s (HFA’s) priorities and specify the criteria it will use to select projects competing for tax credits. The priorities must be appropriate to local conditions.