How many renters live in Loris, South Carolina?
The City of Loris has 2,513 people living in 1,080 households.
There are 1,027 renters living in 559 renter households in this City. Renters make up 40.87 percent of the population living in Loris.
What is the rental market like in Loris, South Carolina?
There are an estimated 1,190 housing units in the Loris area. Of these, 569 units are rental homes, making up 48 percent of the housing market. For every renter household in Loris, South Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Loris?
The rental vacancy rate in Loris is 2 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Loris for each bedroom size?
Occupied Rental Units by Size in Loris
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 76 | 151 | 218 | 114 | 0 |
Occupied Rental Units by Size in Loris
A large number of apartments in Loris have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Loris are overburdened by housing costs?
Among renter households in this market, 45 percent have housing cost burden. Further, 23 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Loris
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,121 to $2,005. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,121 |
| One BR | $1,187 |
| Two BR | $1,361 |
| Three BR | $1,724 |
| Four BR | $2,005 |
2024 Fair Market Rents in Loris, South Carolina
How many units are rented at Fair Market Rent (FMR) in Loris?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 66 | 87 percent |
| One BR | 151 | 100 percent |
| Two BR | 204 | 94 percent |
Rental Units Below FMR in Loris, South Carolina
How many affordable rental units are in Loris?
There are a variety of federal affordable housing programs serving households in Loris, South Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 36 |
| Section 8 Project-Based Rental Assistance | 24 |
| USDA Section 515 Rural Rental Housing | 66 |
Tracked Units by Federal Program in Loris, South Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Loris, South Carolina
Loris features 94 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Loris, South Carolina
There are 76 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Loris.
Housing Choice Vouchers in Loris, South Carolina
On average, Section 8 Housing Choice vouchers pay Loris landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Loris.
The maximum amount a voucher would pay on behalf of a low-income tenant in Loris, South Carolina for a two-bedroom apartment is between $1,225 and $1,497.
Sourced from federal housing data and AffordableHousingOnline.com research.
