Affordable housing 

Affordable housing is one of the City’s top priorities as outlined in  GVL2040, the Greenville’s comprehensive plan for the coming decades. Under GVL2040, the City is spending an entire year rewriting its development code to reflect the long-term commitment to affordable housing options.

Pie chart showing 30% off all income covering housing costsWhat is Affordable?

Strictly speaking, affordable housing is housing that doesn’t take up more than a third of your monthly income.

So, if you’re earning $3,000 a month ($36,000/year), that’s no more than $1,000/month.

Leaders recognize the need for affordable housing options because these days, median income in Greenville is about $60,000 – that’s $5,000/month. Therefore, affordable housing is anything that doesn’t top $1,667/month. Depending on credit scores, down payments and other variables, that’s enough to buy a $250,000 home.

But here’s the problem: Median housing values are now above $300,000 in the city, meaning median income families are being squeezed out. As a result, many choose to do one of the following:

A. Buy a home in the county where housing is less costly.
B. Buy a fixer-upper in a less desirable part of town.
C. Rent – also a challenge for many families wanting or needing to live in the city.
D. Buy or rent something they cannot afford.

The problem with A and C is usually in geography: families who work in the city but buy/rent in the suburbs are forced to commute and that, of course, leads to traffic congestion.

The problem with D is the pressure it puts on family budgets, overall.

In the end, it comes down to the fact that as housing prices rise, families are forced to either overpay or move further away, putting both pressure on their wallets and overall quality of life.

Forms and Applications

The City is seeking applications from qualified residential builders and contractors to construct and/or rehabilitate low and moderate income housing within the city limits of Greenville. 

Helpful Documents