Columbia, South Carolina, September 2, 2025
News Summary
In response to the affordable housing crisis, South Carolina’s SC Housing has initiated the ‘Make It Home!’ program, incentivizing builders to construct affordable single-family homes. The program aims to create 130 homes priced under $200,000, providing subsidies to builders and financial assistance to eligible homebuyers. This initiative addresses the growing need for affordable housing amidst rising home prices in the state.
Columbia, South Carolina – In response to the pressing shortage of affordable housing, the South Carolina State Housing Finance and Development Authority (SC Housing) has launched the Make It Home! Program. This initiative aims to stimulate the construction of affordable single-family homes within the state, as the median listing price for homes has surged to $350,000, according to the Federal Reserve Bank’s December 2024 report.
The Make It Home! Program is designed to incentivize homebuilders by providing subsidies for each home they construct and sell under the program’s guidelines. Specifically, SC Housing plans to facilitate the creation of up to 130 single-family homes in the upcoming year, targeting affordability for families in need.
Program Details
Builders participating in the program can choose from two housing options:
- Two-bedroom, two-bath homes, with a minimum of 1,000 square feet, priced at or below $175,000.
- Three-bedroom, two-bath homes, with a minimum of 1,200 square feet, priced at or below $200,000.
For each completed and sold home, SC Housing will provide a $12,000 cost offset subsidy to builders, lowering their financial burden. Applications for builders will be accepted until September 30, 2025, after which SC Housing will review submissions and announce the selected applicants.
Eligibility and Homebuyer Assistance
To qualify for participation, builders must hold a valid license in South Carolina and demonstrate relevant experience, financial capability, and marketing skills that align with the program’s affordability criteria. Homes developed under the program will not be available for purchase until the selection of builders is finalized.
In addition to the builder incentives, eligible homebuyers can benefit from $25,000 in forgivable assistance for down payments and closing costs, provided they work with participating lenders. These homebuyers must adhere to specific requirements:
- Occupy the home as a primary residence.
- Secure a fixed-rate mortgage through SC Housing-approved lenders.
- Annual income must not exceed SC Housing’s program limits or $135,000, whichever is lower.
- First-time homebuyers using the SC Homebuyer Bond program must meet additional criteria pertaining to income limits that vary by county.
Context and Significance
The launch of the Make It Home! Program comes at a vital time for South Carolina, where affordable housing has become increasingly scarce. With home prices at a median of $350,000, many families are struggling to find suitable and affordable housing options. The state’s initiative underscores a commitment to addressing the housing crisis, with plans not just to offer houses but to foster generational wealth for South Carolinians through homeownership.
SC Housing’s Executive Director highlighted that this initiative is fundamentally about creating opportunities for working families in South Carolina, emphasizing the program’s significance in improving living conditions and supporting economic stability within communities.
Conclusion
The Make It Home! Program represents a strategic effort by South Carolina to confront the affordable housing crisis head-on. By working together with builders and supporting potential homeowners, the program aims to make homeownership accessible to more families across the state.
FAQs
What is the “Make It Home!” program?
The “Make It Home!” program is an initiative by SC Housing aimed at incentivizing homebuilders to construct affordable single-family homes in South Carolina.
How many homes will the program create?
The program plans to create up to 130 single-family homes within the next year.
What incentives are offered to builders?
Builders will receive a $12,000 cost offset subsidy for each completed and sold home under the program guidelines.
What are the eligibility requirements for homebuyers?
Homebuyers must occupy the home as a primary residence, obtain a fixed-rate mortgage through SC Housing-approved lenders, and have an annual income that does not exceed certain limits.
How can builders apply to participate?
Builders can submit applications until September 30, 2025. They must be licensed and show relevant experience and financial capability.
Key Features of the Program
| Feature | Details |
|---|---|
| Homes Available | Up to 130 single-family homes |
| Price Points | Two-bedroom homes at or below $175,000; three-bedroom homes at or below $200,000 |
| Builder Subsidy | $12,000 for each sold home |
| Application Deadline | September 30, 2025 |
| Homebuyer Assistance | $25,000 in forgivable down payment assistance |
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Additional Resources
- WLTX: SC housing seeks homebuilders for innovative affordable housing program
- WISTV: Richland County leaders vote to fund affordable housing assistance program
- SC Daily Gazette: SC Housing Authority offers builders $10k per home to increase affordability
- Spectrum Local News: South Carolina housing agency launches affordability program
- Columbia Business Report: Columbia multifamily housing growth
- Wikipedia: Affordable housing
- Google Search: Affordable housing initiatives in South Carolina
- Google Scholar: Affordable housing programs
- Encyclopedia Britannica: Affordable housing
- Google News: Affordable housing South Carolina
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