Downtown Workforce Housing Getting Scarce

Paul Bower of The Charleston City Paper reports on the increasing scarcity (and increased demand/costs) for affordable housing on the Peninsula in the wake of the announced demolition (and re-development with more expensive units) of the 221 units at Sergeant Jasper apartments this summer.   The article also shows (below) a rather amazing statistic of how much home renters spend on housing in CHS County, 50% of their monthly income vs homeowners that spend about 35%.  Some would argue …spending one-half of their income on rent, that’s why they are renters…

 

About charlestonCREblog

30 years' in the commercial real estate biz - investment sales, consulting, banker, appraiser, brokerage. Trained in Atlanta and moved to the Lowcountry in 2008 and now sharing offices in Charleston and Jacksonville, FL. Exclusive listings, buyer representation, and consulting/analysis to help clients make the best commercial real estate decisions.

Posted on March 5, 2014, in CHS, CHS Multi-Family, Development, Downtown CHS and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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