What HUD offices serve Ridge Spring, South Carolina?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the South Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Ridge Spring.
How many renters live in Ridge Spring, South Carolina?
The City of Ridge Spring has 720 people living in 327 households.
There are 191 renters living in 80 renter households in this City. Renters make up 26.53 percent of the population living in Ridge Spring.
What is the rental market like in Ridge Spring, South Carolina?
There are an estimated 377 housing units in the Ridge Spring area. Of these, 86 units are rental homes, making up 23 percent of the housing market. For every renter household in Ridge Spring, South Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Ridge Spring?
The rental vacancy rate in Ridge Spring is 7 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Ridge Spring for each bedroom size?
Occupied Rental Units by Size in Ridge Spring
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 3 | 33 | 35 | 7 |
Occupied Rental Units by Size in Ridge Spring
A large number of apartments in Ridge Spring 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 Ridge Spring are overburdened by housing costs?
Among renter households in this market, 18 percent have housing cost burden. Further, 10 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 Ridge Spring
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,036 to $1,917. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,036 |
| One BR | $1,110 |
| Two BR | $1,246 |
| Three BR | $1,595 |
| Four BR | $1,917 |
2024 Fair Market Rents in Ridge Spring, South Carolina
How many units are rented at Fair Market Rent (FMR) in Ridge Spring?
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 |
| One BR | 3 | 100 percent |
| Two BR | 22 | 67 percent |
Rental Units Below FMR in Ridge Spring, South Carolina
How many affordable rental units are in Ridge Spring?
There are a variety of federal affordable housing programs serving households in Ridge Spring, South Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 20 |
| USDA Section 515 Rural Rental Housing | 20 |
Tracked Units by Federal Program in Ridge Spring, South Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Ridge Spring, South Carolina
Ridge Spring features 20 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 Ridge Spring, South Carolina
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Ridge Spring.
Housing Choice Vouchers in Ridge Spring, South Carolina
On average, Section 8 Housing Choice vouchers pay Ridge Spring landlords $0 per month towards rent. The average voucher holder contributes $0 towards rent in Ridge Spring.
The maximum amount a voucher would pay on behalf of a low-income tenant in Ridge Spring, South Carolina for a two-bedroom apartment is between $1,121 and $1,371.
Sourced from federal housing data and AffordableHousingOnline.com research.
