Affordable Housing In Greenwood
Greenwood County, South Carolina

17 Low Income Apartment Communities In Greenwood

Hallmark at Greenwood Apartments

337 Emerald Rd N
Greenwood, SC
Call For Rent
2 BR
HCV Welcome

Cambridge Apartments

230 Cambridge Avenue East
Greenwood, SC
Call For Rent
1 BR

Phoenix Place

1401 Phoenix Street
Greenwood, SC

Twin Oaks Apartments

200 Holman Street
Greenwood, SC

Cardinal Glen Apartments

1524 Parkway
Greenwood, SC
HCV Welcome

Swann Meadows Apartments

1091 Parkland Place Rd
Greenwood, SC

Wisewood Apartments Associates, Lp

235 Florida Ave
Greenwood, SC

Hampton House Apartments

306 Grove Street
Greenwood, SC

Pineridge Apartments

1548 Parkway
Greenwood, SC
Elderly Supportive Housing

Taggart Court

321 Taggart Ave
Greenwood, SC
HCV Welcome

Housing Authorities that serve Greenwood

Housing Authority Programs
Housing Authority of Greenwood Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Greenwood, South Carolina

There are 17 low income housing apartment communities offering 1,101 affordable apartments for rent in Greenwood, South Carolina. Greenwood features 812 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 289 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Greenwood.

Sourced from federal housing data and research.

Greenwood, SC Affordable Housing Snapshot

Total Affordable Apartment Properties 17
Total Low Income Apartments 1,101
Total Housing Units with Rental Assistance 812
Percentage of Housing Units Occupied By Renters 55.46%
Average Renter Household Size 2.52
Average Household Size 2.52
Median Household Income $24,593 ±$2,541
Median Rent $640 ±$48
Percentage Of Renters Overburdened 57.41% ± 8.53pp
Total Population 23,254

Population and Household Demographics

Greenwood is a City in Greenwood County, South Carolina with a population of 23,254. There are 8,540 households in the city with an average household size of 2.52 persons. 55.46% of households in Greenwood are renters.

Income and Rent Overburden in Greenwood

The median gross income for households in Greenwood is $24,593 a year, or $2,049 a month. The median rent for the city is $640 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Greenwood, a household making less than $2,133 a month would be considered overburdened when renting an apartment at or above the median rent. 57.41% of households who rent are overburdened in Greenwood.1

Area Median Income In Greenwood

Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.

HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Greenwood, the AMI is calculated from all households within Greenwood County.

In Greenwood, HUD calculates the Area Median Income for a family of four as $50,000

Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.

Rental Assistance in Greenwood

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.

Income Qualifications for Greenwood HUD Rental Assistance in Greenwood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,490 $16,910 $21,330 $25,750 $28,750 $30,900 $33,000 $35,150
50% of Median $18,650 $21,300 $23,950 $26,600 $28,750 $30,900 $33,000 $35,150
80% of Median $29,800 $34,050 $38,300 $42,550 $46,000 $49,400 $52,800 $56,200
Low Income Housing Tax Credits in Greenwood

The Low-Income Housing Tax Credit (LIHTC) program aims to create affordable rental housing for low and very low income families.

From 1988 to 2009, 10 low income apartment communities containing 462 rental apartments have been constructed and made affordable to low income persons in Greenwood by the Low Income Housing Tax Credit Program.

If your income is less than 60% of the Area Median Income (AMI), you should not expect to pay more than the rent value for a unit in the table below. However, Affordable apartment communities that receive funding through the Low Income Housing Tax Credit program may have rental units that are not subject to income and rent limits.

Rent limits for the LIHTC Program are determined so that a household making the maximum income for the expected household size of the unit would only pay 30% of their income for rent.

Income Qualifications for Low Income Housing Tax Credit Apartments in Greenwood

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,650 $21,300 $23,950 $26,600 $28,750 $30,900 $33,000 $35,150
60% of Median $22,380 $25,560 $28,740 $31,920 $34,500 $37,080 $39,600 $42,180

For example, the expected household size for a two bedroom apartment is 3 people. Using the table above, the maximum income for a 3 person household at 60% of the AMI in Greenwood is $28,740 a year, or $2,395 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,395 by 30% to get a maximum rent of $719 a month.

Rent for units in the LIHTC Program include a utility allowance which is determined by the average monthly cost of utilities paid directly by residents. This allowance has not been subtracted from the rents in the table below. These utility allowances are set on a property by property basis.

% of AMI Studio 1 Bed 2 Bed 3 Bed 4 Bed 5 Bed
50% $466 $499 $599 $692 $773 $852
60% $560 $599 $719 $830 $927 $1,022
Fair Market Rents in Greenwood

Fair Market Rents, often abbreviated as FMR, can be used to better understand the average housing costs of an area. Notably, Fair Market Rents are used to establish the payment standards for the Housing Choice Voucher Program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance.

2020 Fair Market Rents
Studio One BR Two BR Three BR Four BR
$513 $558 $651 $879 $882