# 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)](https://www.schousing.com/home/HousingTaxCredits)
- [Multifamily Tax-Exempt Bond Financing (TEB)](https://www.schousing.com/home/MultifamilyTaxExempt)
- [HOME-ARP](https://www.schousing.com/home/HOME-ARP-Program)
- [HOME Investment Partnerships Program (HOME)](https://www.schousing.com/home/HOMEInvestmentProgram)
- [SC Housing Trust Fund (HTF)](https://www.schousing.com/home/SCHousingTrustFund)
- [Small Rental Development Program (SRDP)](https://www.schousing.com/home/SmallRentalDevelopmentProgram)
- [National Housing Trust Fund (NHTF)](https://www.schousing.com/home/NationalTrustFund)

### 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.