Cost of building affordable single-family homes would be subsidized, deadline to apply is Sept. 30
COLUMBIA, S.C. — The lack of affordable single-family housing in South Carolina is a big problem. The median listing price of a home in the state is $350,000, according to a December 2024 Federal Reserve Bank dashboard report.
South Carolina State Housing Finance and Development Authority (SC Housing) is trying a new approach to get homebuilders incentivized to build affordable single-family homes through its Make It Home! Program by offering subsidies for new home builds.
Make It Home! aims to create up to 130 single-family homes over the course of the next year by offering builders a choice of building either two-bedroom, two-bath homes with at least a 1,000-square-foot floor plan, priced at or below $175,000; or three-bedroom, two-bath homes with at least a 1,200-square-foot floor plan, priced at or below $200,000.
For every single-family home completed and sold, Make It Home! will offer a $12,000 cost offset subsidy.
“South Carolina is in a housing crisis and this is our attempt to take a big swing at finding a solution,” C. Todd Latiff, chairman of the SC Housing Board of Commissioners, said. “We’re talking about people that have never had the opportunity to be homeowners having that chance. We’re talking about creating generational wealth for the South Carolinians that take advantage of this program. This is a big deal for our state.”
Homebuilder applications are being accepted now through September 30, 2025. SC Housing will review the applications and announce the winning applicants.
Builders must be licensed to build in South Carolina and demonstrate recent experience, financial capability, and the ability to market and sell homes that meet the program’s affordability criteria.
To learn more about the program and how to apply, homebuilders should visit the SC Housing website.
The homes will not be available to purchase until after the awards have been announced.
“This program is about creating opportunity,” said SC Housing Executive Director Richard Hutto. “We want working families to know that affordable, quality housing is within reach—and that SC Housing is committed to building lasting solutions for our state.”
To that end, SC Housing will provide eligible homebuyers with $25,000 in forgivable down payment and closing cost assistance through participating lenders. There are some guidelines and restrictions:
Homebuyers must occupy the home as their primary residence, obtain a fixed rate mortgage through any of SC Housing’s approved lenders, have annual incomes not exceeding SC Housing’s program current income limits or $135,000 (whichever is less).
Buyers using SC Housing’s SC Homebuyer Bond program for first mortgage financing must meet the first-time homebuyer definition, income limits by county and all other program requirements.
