1 in 4 Horry County households spends more than half of income on rent, report says

State - Regional

MYRTLE BEACH, S.C. (WBTW) — A new report from SC Housing shows that one in four Horry County households spends more than half of their income on rent and utilities.

In Horry County, 24.9% of households spend more than half of their income on rent and utilities, which is slightly higher than the statewide average of 24%, according to the report. Horry County has the fourth highest number of severely cost burdened households in the state.

Severe renter cost burden is defined in the report as a household spending “at least half of income on rent and utilities or not having any income at all.”

The report shows that the average hourly wage of a renter in Horry County is $7.95 per hour less than what would be required to rent a 2-bedroom apartment without spending more than 30% of income on rent.

Statewide, data from the National Low Income Housing Coalition shows that South Carolina renters must make $17.30 per hour to meet that threshold, but the average hourly wage of a renter is $13.52, according to the report.

According to the report, a 2-bedroom apartment is considered unaffordable in 40 of South Carolina’s 46 counties.

The report shows that 151,000 evictions were filed in 2019 across South Carolina and said 13,000 public school students don’t have a permanent residence.

Between 2000 and 2019, the median household income increased by 51.6% while the median gross rent increased by 80%, according to the report.

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