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Affordable Housing in Abbeville, South Carolina: A Two-Decade LIHTC Program Analysis
CATEGORY
Affordable Housing
DATA
LIHTC Projects
Median Income
Racial Distributions
Population
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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Abbeville in South Carolina has a distinct affordable housing landscape supported by the Low-Income Housing Tax Credit (LIHTC) program. The city's LIHTC-funded affordable housing inventory comprises 108 total units, with 54 designated as low-income units. This represents approximately 3.3% of the city's estimated 3,275 housing units.
Abbeville has received $474,851 in project tax credits through the LIHTC program. With three approximate projects, this translates to an average federal funding of $158,284 per project and $4,397 per unit. The city holds 0.12% of South Carolina's total LIHTC funding, indicating a relatively small portion of the state's affordable housing allocation.
The first LIHTC project in Abbeville was completed in 1997 (Ferguson Williams Apts), and the most recent in 2018 (Pecan Grove Apartments), spanning over two decades of affordable housing development. The 2010s saw the most activity, with two projects completed during this decade.
The affordable housing units in Abbeville are diverse, consisting of 43 one-bedroom, 57 two-bedroom, and 8 three-bedroom units. This distribution suggests a focus on accommodating small to medium-sized families and individuals.
Over the past decade, Abbeville's population has fluctuated, decreasing from 9,073 in 2019 to 8,547 in 2022. The median income has shown an overall increase, rising from $37,817 in 2019 to $43,342 in 2022, despite some fluctuations.
Regarding racial demographics, the city has maintained a relatively stable composition. The white population has remained the majority, increasing slightly from 54% in 2019 to 55% in 2022. The Black population has seen a slight decrease from 43% to 40% during the same period. The Hispanic population has remained steady at 2%, while the proportion of residents identifying as two or more races has increased from 1% to 2%.
These demographic shifts, particularly the slight increase in median income and the relative stability in racial composition, may have influenced the need for and development of affordable housing in recent years.
Abbeville's LIHTC-funded affordable housing represents a small but significant portion of its housing inventory. The city has seen consistent development of affordable housing over two decades, with a focus on diverse unit types to accommodate various household sizes. The demographic trends, including a slight increase in median income and stable racial composition, may continue to shape the demand for affordable housing in the future.
