Affordable homeownership is something that families of every shape, size, and situation need. In Horry County, SC especially, housing prices continue to soar as many salaries remain the same.
The Jones** family is no different in their need for affordable housing, even though they’re both seasoned in their professions and have children inching closer to their next steps into the college and career phase of their lives.
Mr. Jones is a landscaper and makes about $29,000 per year. Mrs. Jones works as a security guard at a local hospital making about $30,000. They both love their jobs and wouldn’t trade their day-to-day for anything. With their combined income of close to $60,000, they qualify for the Habitat Homebuyer Program and demonstrate an ability to pay an affordable mortgage. It’s key that their home be affordable, as currently they are paying 43% of their monthly income in rent. Experts note that paying anything more than 30% leaves a family cost burdened.
They work hard to support their 3 teenage children, but ultimately are having trouble making ends meet. As a family of 5, the Jones’ need a fairly large house. So, they pay $2,100 in rent per month for a 3-bedroom home. However, they’re having difficulty getting their landlord to make necessary repairs. So, the family has a true need for safe and decent housing.
Each family accepted into the Habitat Homebuyer Program also shows a willingness to partner with the organization to reach their goal of homeownership. Working alongside volunteers and other homebuyers to help build Habitat homes, and even working shifts in the ReStore, families like the Jones family have the perfect opportunity to give back and grow within their local community. The Jones’ children especially have the opportunity to learn the value of hard work, dedication to reaching a goal, and supporting others.
Click here to learn more about applying for the Habitat Homebuyer Program in Horry County when applications become available again on September 1, 2023.
** The family mentioned in this blog is fictional yet is representative of the types of families seeking homeownership who qualify for the Habitat Homebuyer Program, right here in Horry County.