Affordable Housing Construction on the Rise Nationwide and in South Carolina

Affordable housing construction has accelerated nationwide since 2020, and South Carolina is part of that trend. However, metros across the state are moving at very different speeds, according to a new RentCafe.com analysis. 

Here’s how the state breaks down: 

• Columbia stands out for both scale and acceleration. Between 2020 and 2024, the metro added 1,898 fully affordable apartments out of 5,394 total completions — meaning roughly 35 percent of all new apartments built were income-restricted. That marks a dramatic 704 percent increase compared with the pre-pandemic period, when affordable units accounted for just 5.9 percent of new construction. 

• Greenville also expanded affordable housing output, adding 2,200 affordable apartments out of 19,464 total units, representing about 11.3% of new construction. That reflects a 242 percent increase compared with the previous five-year period, when affordable units made up just 6.4 percent of development. 

• Charleston, by contrast, saw affordable housing remain a very small portion of new supply. The metro added 496 fully affordable apartments out of 29,452 total completions — just 1.7 percent of new construction. Although this represents a 58 percent increase in output, affordable housing’s share of development actually declined compared with the pre-pandemic period, when it stood at roughly 2.1 percent. 

• Nationwide, nearly 310,000 fully affordable apartments were built between 2020 and 2024, accounting for about 12.6 percent of all new apartment construction. Affordable housing construction increased by 73 percent compared with the previous five-year period, with Seattle, New York, and Austin leading the nation in total completions.