When people can’t afford to live close to where they work, we all end up with longer commutes that create more traffic on Lowcountry roads. Housing matters when it comes to easing traffic congestion and time wasted in our cars.
Late arrivals and more no shows are what to expect when hospitality staffers can’t afford to live near the hotels, restaurants and attractions employing them. Housing matters to the Lowcountry’s thriving tourism industry.
Many young professionals moving to the Lowcountry must spend nearly half their income on housing costs, making employee recruitment more challenging than ever. Housing matters to the attraction and retention of young residents to the Lowcountry.
Every time housing costs rise in the Lowcountry, some families earning lower wages are forced to move and their children are forced to attend another school, sometimes two and three times a year. Housing matters when it comes to a better education for children.
We don’t expect a rookie fireman to be able to afford the same housing options as a veteran fire chief, but we should expect for them both to be able to afford housing in the town in which they work. Housing matters to our local workforce at every step on their career path.
You’re not alone. Salaries are not keeping pace with housing costs in our area, which means more people are paying rent and mortgages they can’t afford or commuting across the region to find housing they can afford. Housing matters to everyone’s quality of life.
One half of all Lowcountry households earn less than $62,000 per year and can’t afford to buy the average priced home of $215,000.
33% of homeowners and 50% of renters are living in homes they really can’t afford — spending over 30% of income on housing and utilities.
A household must earn $37,600 per year to afford the average priced 2 bedroom apartment in the Lowcountry.