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The Advocates
The Advocates: Advocating for Affordable Housing in a Challenging Economy

Advocacy can be exhausting, especially in a world where inflation is affecting every part of the economy. In the Charleston Metro region, it often feels like there is no end in sight. While housing costs continue to soar, we must also recognize the significant impact this has on the ability of everyday citizens to achieve homeownership.

The Charleston Metro Chamber has been actively advocating for a regional strategy to address attainable housing, one that ensures homeownership remains a realistic goal for individuals across all income levels in our community. In South Carolina, counties like Greenville have successfully implemented policies that require developers to include attainable housing in their plans. While these efforts have contributed to increasing the housing stock, they do not fully resolve the issue.

For many developers, putting together an affordable housing deal is like making a lasagna—there are many layers of complexity. At the foundation of these layers is the funding that subsidizes housing developments. The “meat” of the deal is often this funding, while the “noodles and sauce” represent other components, such as zoning, planning and partnerships, that bring the deal to fruition.

In 2022, Charleston County allocated $23 million from the American Rescue Plan Act to support housing initiatives. Additionally, in November 2024, the county earmarked an additional $1.6 million for programs such as land acquisition, a key recommendation in the county’s Housing Our Future Plan.

Data from the American Community Survey shows that in 2023, approximately 37% of households in Berkeley County could afford to buy a home at the median purchase price. This means that 63% of residents cannot afford a home at that price point. These figures highlight the critical need for the county to prioritize funding for housing affordability. Moreover, the Palmetto State Housing Study predicts that Berkeley County will be one of only three counties in the state to experience population growth of over 25% by 2030. Another striking statistic from the study is the 14.8% annual decrease in homes sold for less than $100,000 since 2014 in South Carolina.

In response to these challenges, Berkeley County leadership has committed to dedicating $1,739,730 to developers planning to build affordable homes for individuals earning no more than 80% of the area’s median income.

As part of the Chamber’s People First Strategy, we believe that a thriving community starts with ensuring that all residents—regardless of income—have access to opportunities that allow them to live, work and grow here. Housing is foundational to that vision. By continuing to prioritize attainable housing solutions, we can build a stronger, more inclusive region where people of all backgrounds and incomes can contribute to the economic vitality of the Charleston Metro area.

We remain committed to working alongside local leaders, developers and community partners to drive meaningful change in housing policy and create lasting solutions that serve the people of our region.

Together, we can ensure that everyone has the opportunity to call the Charleston Metro area home.

Craig Logan, Executive Housing Fellow
Posted on
January 24th 2025
Written by
Daphne Johnson
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