Is South Carolina the most affordable state in the US?
I’ll call this Watchdog Report the “News Brief” version. There are several topics to cover, but they are all brief.
Walhalla Special Election Results
The turnout was about average for most elections, but better than average for a special election—14% of registered voters turned out, or 285 voters.
Jessie Bunning received 116 votes for the open seat that expires at the end of this year. Her seat will be on the ballot again in November. And Lynn McClain received 115 votes for the open seat that expires in 2027.
With two seats on the ballot, the winner needed 33.33 percent of the vote to avoid a runoff election.
Annexation is in the News
Annexation has become a hot political issue this year, but it’s not new in the Upstate. Counties are pushing for legislation to give them a voice in whether a city can annex, even though annexation requires the consent of the property owner in most cases.
Anderson County Council has weighed in on the issue because the City of Anderson is considering a request from a property owner on the East-West Connector to annex and zone their property for a multifamily housing development. The proposed development is contributing to the opposition, but the project is consistent with the city’s recently enacted comprehensive plan for the area.
Your Western Upstate Association REALTORS® has adopted this policy position on annexation.
Impact Fees Discussed Again
Recently, four of five school superintendents in Anderson County met with four members of Anderson County Council to discuss development issues. Two of them, from districts one and two, proposed an impact fee for all five school districts. Among other things, they referred to a recently enacted $30,000 per house impact fee in Ft. Mill in York County.
Your association opposed a $11,000 impact fee proposal in Anderson 1 in 2022. We were able to demonstrate that the proposed impact fee was much larger than could be justified by the growth in the student population.
You can read your association’s position on impact fees by clicking here.
The General Assembly is Almost Finished for the Year
The South Carolina General Assembly has less than two weeks left in the current legislative session. Annexation, concurrency rules, and other development-related legislation have been considered in recent weeks. So is H.3947, legislation updating continuing education requirements for real estate brokers and salespersons licensed in other states. The bill needs one more reading in the Senate before it is sent to the Governor for his consideration.
South Carolina is Number 1 for Housing Affordability
Wrapping up, Realtor.com issued a report this week on housing affordability that rates South Carolina as the most affordable state in the country for homebuilding and housing affordability.
Before we make room in the trophy case, the median price of a home listing in the state is $354,429, and the median household income is $64,898. Using the 30% rule, it takes about $106,328 in household income to buy the median-priced home. But the study also measures other factors, like building permit-to-population ratio and construction costs.
Nonetheless, South Carolina is the most affordable housing market in the country according to Realtor.com, which is great for South Carolina’s Realtors. You can read more about it by clicking here.
Support RPAC
You and your association can influence how your government affects you and regulates your industry.
Elections are an important way that your association represents you and helps make a strong market for real estate. Elections are also an important way that you participate in your government. Your association’s objective is to help elect candidates who share the Realtor position that a vibrant and healthy real estate market is vital to a vibrant and healthy economy. Of course, you must balance your personal and business interests when you vote.
More than 90% of Realtors in the Western Upstate are registered to vote, which is amazing. But just 32% supported RPAC in 2024.
You can help your industry by supporting RPAC. It’s easy. Your association includes a voluntary contribution to RPAC on your annual dues invoice. Pay it, and you are an RPAC supporter. If you haven’t supported RPAC this year, I encourage you to do so by clicking here.
Michael Dey, Director of Government Affairs