Affordable Housing In Honea Path
Abbeville County, South Carolina

3 Low Income Apartment Communities In Honea Path

Laurel Street Village

90 Peachtree Street
Honea Path, SC
Call For Rent
2-3 BR
HCV Welcome

Shamrock Associates

308 E Hampton Ave
Honea Path, SC
Subsidized

Wildwood Apartments

360 E Hampton Ave
Honea Path, SC
Subsidized
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Housing Authorities that serve Honea Path

Housing Authority Programs
South Carolina Regional Housing Authority No. 1 Section 8 Housing Choice Voucher (HCV); Public Housing

Guide To Affordable Housing in Honea Path, South Carolina

According to federal housing data and AffordableHousingOnline.com research, there are 3 low income housing apartment communities offering 112 affordable apartments for rent in Honea Path, South Carolina. Honea Path features 70 low income apartments with rental assistance where households typically pay no more than 30% of their income towards rent. Additionally, there are 42 other low income apartments that don't provide direct rental assistance but remain affordable to low income households in Honea Path.

Honea Path, SC Affordable Housing Snapshot

Total Affordable Apartment Properties 3
Total Low Income Apartments 112
Total Housing Units with Rental Assistance 70
Percentage of Housing Units Occupied By Renters 33.25%
Average Renter Household Size 2.36
Average Household Size 2.36
Median Household Income $24,951 ±$5,653
Median Rent $436 ±$290
Percentage Of Renters Overburdened 41.55% ± 22.43pp
Total Population 3,649

Population and Household Demographics

Honea Path is a City in Abbeville County, South Carolina with a population of 3,649. There are 1,549 households in the city with an average household size of 2.36 persons. 33.25% of households in Honea Path are renters.

Income and Rent Overburden in Honea Path

The median gross income for households in Honea Path is $24,951 a year, or $2,079 a month. The median rent for the city is $436 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Honea Path, a household making less than $1,453 a month would be considered overburdened when renting an apartment at or above the median rent. 41.55% of households who rent are overburdened in Honea Path.1

Area Median Income In Honea Path

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 Honea Path, the AMI is calculated from all households within Abbeville County.

In Honea Path, HUD calculates the Area Median Income for a family of four as $49,500

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 Honea Path

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 Honea Path HUD Rental Assistance in Honea Path

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 $28,250 $30,350 $32,450 $34,550
50% of Median $18,350 $20,950 $23,550 $26,150 $28,250 $30,350 $32,450 $34,550
80% of Median $29,300 $33,500 $37,700 $41,850 $45,200 $48,550 $51,900 $55,250
Low Income Housing Tax Credits in Honea Path

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

From 2010 to 2010, 1 low income apartment communities containing 30 rental apartments have been constructed and made affordable to low income persons in Honea Path 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 Honea Path

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% of Median $18,350 $20,950 $23,550 $26,150 $28,250 $30,350 $32,450 $34,550
60% of Median $22,020 $25,140 $28,260 $31,380 $33,900 $36,420 $38,940 $41,460

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 Honea Path is $28,260 a year, or $2,355 a month. To determine the maximum rent in the table below we multiply the monthly maximum income, $2,355 by 30% to get a maximum rent of $707 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% $459 $491 $589 $680 $759 $838
60% $551 $590 $707 $816 $911 $1,005
Fair Market Rents in Honea Path

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
$491 $494 $651 $939 $1,143