Affordable Housing In Loris
Horry County, South Carolina

4 Low Income Apartment Communities In Loris

Loris Gardens

4265 Suggs Street
Loris, South Carolina
Call For Rent
1-2 BR
Accepts Vouchers

Tall Pines I

4300 Harrelson Ave
Loris, South Carolina
Subsidized

Palmettos Way Apartments

4399 Suggs St
Loris, South Carolina
Accepts Vouchers

Watsons Place

Heritage RD
Loris, South Carolina
Subsidized
62+
Accessible
Elderly Supportive Housing
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Guide To Affordable Housing in Loris, South Carolina

There are 4 low income housing apartment communities offering 128 affordable apartments for rent in Loris, South Carolina.

Income Based Apartments in Loris, South Carolina

Loris features 52 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 $897 and $1,097.

2020 Loris, South Carolina Fair Market Rents and Housing Choice Voucher Payment Standards

Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.

Studio One BR Two BR Three BR Four BR
Fair Market Rent $812 $847 $997 $1,288 $1,460
Payment Standard Range $731 to $893 $762 to $932 $897 to $1,097 $1,159 to $1,417 $1,314 to $1,606

Sourced from federal housing data and AffordableHousingOnline.com research.

Loris, SC Affordable Housing Snapshot

Total Affordable Apartment Properties 4
Total Low Income Apartments 128
Total Housing Units with Rental Assistance 52
Percentage of Housing Units Occupied By Renters 38.99%
Average Renter Household Size 2.23
Average Household Size 2.58
Median Household Income $33,393 ±$5,123
Median Rent $656 ±$38
Percentage Of Renters Overburdened 65.01% ± 18.21pp
Total Population 2,500

Population and Household Demographics

Loris is a City in Horry County, South Carolina with a population of 2,500. There are 931 households in the city with an average household size of 2.58 persons. 38.99% of households in Loris are renters.

Income and Rent Overburden in Loris

The median gross income for households in Loris is $33,393 a year, or $2,783 a month. The median rent for the city is $656 a month.

Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Loris, a household making less than $2,187 a month would be considered overburdened when renting an apartment at or above the median rent. 65.01% of households who rent are overburdened in Loris.1

Area Median Income In Loris

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 Loris, the AMI is calculated from all households within Horry County.

In Loris, HUD calculates the Area Median Income for a family of four as $61,200

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 Loris

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 HUD Rental Assistance in Loris

Income 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% of Median $12,850 $16,910 $21,330 $25,750 $30,170 $34,590 $37,950 $40,400
50% of Median $21,450 $24,500 $27,550 $30,600 $33,050 $35,500 $37,950 $40,400
80% of Median $34,300 $39,200 $44,100 $48,950 $52,900 $56,800 $60,700 $64,650