Smart growth can be used by the City to promote proper infill and new development patterns that will accommodate the increases in population while protecting and preserving existing neighborhoods. Housing options are needed for the residents and include all, but are not limited to Single-Family, Multi-Family, Townhomes, etc. As growth occurs, it is important to also understand how rents and home values are maintaining over time.
- Of the City’s 44,500 housing units, half are single family detached houses, while a third are apartments. Townhouses and mobile homes comprise the remaining 16%.
- 47% of the City’s housing units are occupied by renters, while 41% are occupied by owners and 12% are vacant. These numbers are fairly consistent with past housing occupancy patterns.
- The majority of housing in North Charleston was constructed after 1960. The largest increase in housing units occurred during the nationwide housing boom from 2000-2009, when 11,500 or 26% percent of homes were built.
- Median rents have increased in North Charleston from $744 per month in 2007 by 22% to the median of $909 per month in 2016. These rents are still relatively affordable compared to other areas of the region.
- In 2016, the median home value in the North Charleston was estimated at $144,000, an increase from $122,000 in 2007. However the City’s housing is still relatively affordable compared to the region’s median home value of $200,000 and City of Charleston’s median value of $270,000.
- With 50,000 new residents expected in the City of North Charleston by 2040, what types of housing is needed and where should it be located? Should we continue to build the same mix of single family detached, apartments and other types that exist today or diversify the housing stock to accommodate more seniors and smaller families? Is there enough vacant land or should areas be redeveloped with higher densities of housing units?