News & Updates

What is Affordable Housing? 

Housing that cost 30% or less of a households monthly income. Housing cost include rent or mortgage, utilities and other housing cost. 

The Median Income for a family of 4 in Charleston is $74,500 so for a family of 4 making 80% of that, it is $59,600 a year.

So at $59,600 a year x three times that equals a home price of $178,800.

Approximately 33% of homeowners and 50% of renters in the tri-county region spent more than 30% of their income on housing (HUD’s threshold for affordability), 69% of the region’s population did not live near public transportation and the majority of employment opportunities were located in areas where housing was least affordable 

As of January 2020, South Carolina had an estimated 4,287 experiencing homelessness on any given day, as reported by Continuums of Care to the U.S. Department of Housing and Urban Development (HUD). Of that Total, 279 were family households, 428 were Veterans, 202 were unaccompanied young adults (aged 18-24).

Projects we have completed in the past have been in collaboration with Habitat for Humanity, One80Place and Palmetto Place.