Why do we need Habitat for Humanity?
Habitat for Humanity provides, in most cases, the only path to homeownership for low income families. It is virtually impossible to attain homeownership through traditional means for those in the lower poverty income ranges.
U.S. Census Bureau, Census 2000:
- In Greenwood County 30% of all people who live in rental situations (2,338 renter occupied units) spend more than 30% of their income on rent and utilities and therefore endure a housing cost burden.
- In Greenwood County 28% of all people who live in homeownership situations and have mortgages (3,176 homes) spend more than 30% of their income on mortgage payments and utilities and therefore endure a housing cost burden.
U.S. Department of Housing and Urban Development:
Since 2000 the Fair Market Rents in Greenwood County on average have increased 51.7%. For example, in 2000 a standard two-bedroom apartment had a Fair Market Rent of $407. Today the Fair Market Rent for the same two-bedroom apartment has increased $167 to $574. This type of increase is illustrated across the board in all rental units.
|
Fair Market Rents by Unit Bedrooms from 2000 to 2008
Greenwood County, South Carolina
|
|
FMR Year
|
Efficiency
|
One-BR
|
Two-BR
|
Three-BR
|
Four-BR
|
|
FY 2000
|
$288
|
$335
|
$407
|
$523
|
$598
|
|
FY 2001
|
$291
|
$338
|
$411
|
$528
|
$604
|
|
FY 2002
|
$299
|
$347
|
$422
|
$542
|
$620
|
|
FY 2003
|
$308
|
$357
|
$434
|
$558
|
$637
|
|
FY 2004
|
$308
|
$357
|
$434
|
$558
|
$637
|
|
FY 2005
|
$411
|
$430
|
$494
|
$717
|
$739
|
|
FY 2005
|
$411
|
$430
|
$494
|
$717
|
$739
|
|
FY 2006
|
$423
|
$442
|
$508
|
$737
|
$760
|
|
FY 2007
|
$439
|
$459
|
$528
|
$766
|
$790
|
|
FY 2008
|
$478
|
$499
|
$574
|
$833
|
$859
|
|
% increase
|
65.90%
|
48.90%
|
41.00%
|
59.20%
|
43.60%
|
U.S. Department of Labor
For 10 years (1997 - 2007) the federal minimum wage remained the same at $5.15 per hour. 2007 was the first year for a three step incremental process to increase the federal minimum wage.
- Summer 2007 went from $5.15 to $5.85
- Summer 2008 goes from $5.85 to $6.55
- Summer 2009 goes from $6.55 to $7.25
- The minimum wage increase is a positive step, however, in order for a Greenwood resident not to experience a housing cost burden for a two bedroom apartment they must earn a minimum hourly wage of $14.04, a far cry from the 2009 hourly goal of $7.25.
