The Pointe at Lake Murray
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There are 92 low-income apartments in Irmo that offer reduced rents to eligible households.
Rental assistance programs support 80 low-income homes in Irmo where households pay rent based on how much they earn. For 2024, elgible households participating in federally assisted housing pay an average of $471 towards rent each month.
Affordable rent data for some communities last confirmed on July 2nd, 2024. Subdsidized rents typically change once a year based on federal guidance.
Public Housing Agencies Serving Irmo, South Carolina
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
| Housing Authority | Programs |
|---|---|
| Cayce Housing Authority | Section 8 Housing Choice Voucher (HCV); Public Housing |
| South Carolina State Housing Finance and Development Authority | Section 8 Housing Choice Voucher (HCV); Homeownership Voucher |
| Columbia Housing | Section 8 Housing Choice Voucher (HCV); Public Housing; Veteran Affairs Supportive Housing (VASH); Section 8 Project-Based Voucher (PBV); Moderate Rehabilitation; Emergency Housing Voucher (EHV) |
Irmo, South Carolina Affordable Housing Data
Income Based Apartments in Irmo, South Carolina
Irmo features 80 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Irmo, South Carolina
There are 92 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Irmo.
Housing Choice Vouchers in Irmo, South Carolina
On average, Section 8 Housing Choice vouchers pay Irmo landlords $600 per month towards rent. The average voucher holder contributes $500 towards rent in Irmo.
The maximum amount a voucher would pay on behalf of a low-income tenant in Irmo, South Carolina for a two-bedroom apartment is between $1,121 and $1,371.
2024 Irmo, South Carolina Fair Market Rents and Housing Choice Voucher Payment Standards
Fair Market Rents can be used to better understand the average housing costs of an area. Fair Market Rents are used by HUD to establish payment and rent standards for federal rental assistance programs like the Section 8 Housing Choice Voucher Program.
| Studio | One BR | Two BR | Three BR | Four BR | |
|---|---|---|---|---|---|
| Irmo, South Carolina Fair Market Rent | $1,036 | $1,110 | $1,246 | $1,595 | $1,917 |
| Irmo, South Carolina Payment Standard Range | $932 to $1,140 | $999 to $1,221 | $1,121 to $1,371 | $1,436 to $1,755 | $1,725 to $2,109 |
Sourced from federal housing data and AffordableHousingOnline.com research.
Irmo, SC Affordable Housing Snapshot
| Total Affordable Apartment Properties | 7 |
|---|---|
| Total Low Income Apartments | 176 |
| Total Housing Units with Rental Assistance | 80 |
| Percentage of Housing Units Occupied By Renters | 23.68% |
| Average Renter Household Size | 2.55 |
| Average Household Size | 2.61 |
| Median Household Income | $55,168 ±$4,320 |
| Median Rent | $1,049 ±$107 |
| Percentage Of Renters Overburdened | 52.92% ± 15.77pp |
| Total Population | 11,704 |
Population and Household Demographics
Irmo is a city in Lexington County, South Carolina with a population of 11,704. There are 4,476 households in the city with an average household size of 2.61 persons. 23.68% of households in Irmo are renters.
Income and Rent Overburden in Irmo
The median gross income for households in Irmo is $55,168 a year, or $4,597 a month. The median rent for the city is $1,049 a month.
Households who pay more than thirty percent of their gross income are considered to be Rent Overburdened. In Irmo, a household making less than $3,497 a month would be considered overburdened when renting an apartment at or above the median rent. 52.92% of households who rent are overburdened in Irmo.
Area Median Income In Irmo
Affordable housing program eligibility is always determined by one's income. Each household's income is compared to the incomes of all other households in the area. This is accomplished through a statistic established by the government called the Area Median Income, most often referred to as AMI. The AMI is calculated and published each year by HUD.
HUD often uses an area larger than a city to determine the AMI because HUD anticipates those searching for housing will look beyond individual cities during their housing search. For Irmo, the AMI is calculated from all households within Lexington County.
In Irmo, HUD calculates the Area Median Income for a family of four as $83,900
Most affordable housing programs determine eligibility based on the percent of AMI a given household's income is. Among the programs that determine eligibility based on the AMI are Section 8, HOME, LIHTC, Section 515, 202 and 811.
Rental Assistance in Irmo
Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties for elderly and disabled households.
Income Qualifications for HUD Rental Assistance in Irmo
| 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person | |
|---|---|---|---|---|---|---|---|---|
| 30% AMI Income Limits Renters earning up to 30% of the Irmo AMI may qualify for rental assistance programs that target Extremely Low Income households. |
$17,650 | $20,150 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% AMI Income Limits Renters earning up to 50% of the Irmo AMI may qualify for rental assistance programs that target Very Low Income households. |
$29,400 | $33,600 | $37,800 | $41,950 | $45,350 | $48,700 | $52,050 | $55,400 |
| 80% AMI Income Limits Renters earning up to 80% of the Irmo AMI may qualify for rental assistance programs that target Low Income households. |
$47,000 | $53,700 | $60,400 | $67,100 | $72,500 | $77,850 | $83,250 | $88,600 |
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