By: Nashonda Hunter, Executive Director of The Charity Foundation

Attainable housing is an ongoing challenge to individuals and families in the Tri-County area for several reasons. A high cost of living along with inadequate wages is a recipe for disaster for several families. Single and dual income households are having to find ways to earn more money due to the rising housing costs. More often than not, a full-time employed individual is spending more than 50% of their monthly income on housing costs.

The median home price of a home in Charleston is 89% higher than the national average. An attainable home from a developer’s perspective will cost around $250,000 to build although you mainly see subdivisions starting at $400,000. We’re seeing the cost of land increase more and more, which makes it challenging to keep development costs low.

Many homebuyers are faced with several challenges trying to find financing options due to income limitations with borrower assistance programs. South Carolina renters are faced with monthly rent increases with no help in sight due to SC laws prohibiting rental caps.

The faith-based community is stepping up to the plate and taking housing matters into their own hands. Inflation and the rising costs of living has presented churches and non-profits with new opportunities to serve their communities. Charity Missionary Baptist Church started a nonprofit, The Charity Foundation. Additionally, TCF developed the Transformation: Liberty Hill Initiative to bring STEM education, affordable housing, workforce development and financial literacy to the community.

In order for real impact to be made, it’s going to take partnerships between local government, nonprofits and private businesses.

Charleston County government approved the Housing Our Future plan in 2024. The Housing Our Future plan will provide non-profit developer assistance from small business in order to meet the demand of housing needs in the area. It is my hope that this plan will be implemented and provide home ownership opportunities to residents in the area.

About Nashonda:
Nashonda Hunter serves as Executive Director of The Charity Foundation, a nonprofit organization that works to cultivate a community of multi-generational and economically stable individuals and families in and around the historic Liberty Hill region of North Charleston.