A Project to Increase Homeownership Opportunity in South Carolina

A statewide challenge

SC Housing is developing an initiative to gauge the feasibility of building smaller, quality housing stock at prices within the budgets of most of the state’s workforce.  South Carolina faces a critical shortage of affordable housing for potential, entry-level homeowners. Factors like rising interest rates, escalating home prices, and more than a decade of underbuilding have compounded the issue. The median listing price of homes in the state has now risen to $350,000, making entry-level homeownership increasingly out of reach.

This program seeks solutions to this challenge by incentivizing the construction and purchase of smaller, budget friendly homes for working families and individuals, and finding ways to make this sustainable and scalable.

The blueprint moving forward

SC Housing is developing a set of criteria, price goals, and incentives for both builders and homebuyers.  More information will be published here as it is developed.

Builder Benefits 

• Builders will receive incentives to offset various costs and fees associated with building these homes.
• Projects must deliver high-quality homes within a designated square footage and bedroom/bathroom count, with a maximum sales price that will be affordable to the average family buying their first home. SC Housing will provide a streamlined process to ensure builder participation is efficient and rewarding.
• Participating builders will showcase a commitment to addressing the state’s housing challenges and build goodwill.

Program information

Program information will be published in a RFP that will be posted here.

For more updates regarding the SC Housing Workforce Housing Pilot Program, sign up below.