Habitat for Humanity’s Total Economic Impact in 2020 was $62 Million, New Analysis Reports

Habitat for Humanity South Carolina hosted a World Habitat Day event at the State House, bringing together local Habitat representatives, community partners, and elected officials. Photo credit: L. Scott Johnson of Fablegraph.

Habitat for Humanity South Carolina hosted a World Habitat Day event at the State House, bringing together local Habitat representatives, community partners, and elected officials. Photo credit: L. Scott Johnson of Fablegraph.

On World Habitat Day, Habitat for Humanity joined the United Nations and organizations around the world in raising awareness and in educating and mobilizing individuals and communities to take action on the current global housing challenge. Representatives from nine counties across South Carolina gathered at the State House this morning to reflect on the basic right of all to adequate shelter, citing Habitat’s role in working towards that goal. On behalf of the South Carolina House of Representatives, Representative Sylleste Davis (District 100, Berkeley County), presented a resolution to Habitat for Humanity recognizing October 4, 2021 as World Habitat Day. Representative Davis also recognized a proclamation from Governor Henry McMaster, signed in advance of the event.

Habitat invests in communities statewide by helping households earning between 30-80% of the area median income access and sustain responsible, affordable homeownership. Habitat homeowners help build their own homes alongside volunteers and pay an affordable mortgage. Through home construction, rehabilitation, repairs, housing finance, support services, and technical assistance, Habitat partners with families and individuals to build and improve a place to call home. Paying an average monthly mortgage of $500 for a three-bedroom home, future homeowners are participants in building a better home and future for themselves and their families. According to the National Low Income Housing Coalition’s Out of Reach Report 2021, a Habitat mortgage is $725 less per month than the market rent for a three-bedroom unit in South Carolina.

“Habitat is a more affordable option than renting for families and has a greater economic impact on the state,” stated Nancy Lee, executive director of Habitat for Humanity South Carolina. “Our work not only transforms individual households--it also creates jobs and strengthens our economy.”

Supporting those comments, Habitat for Humanity South Carolina released the findings from its 2020 Economic Impact Analysis this morning. “It’s not enough to talk about the impact of homeownership, we must aggressively act to eliminate barriers to safe and decent housing,” stated Lee.

The 2020 report represents the collective work of 29 local Habitat for Humanity affiliates. Findings from the 2020 report include:
• Habitat invested more than $33.5 million in operations, construction, rehabilitation, renovation of homes;
• 518 total jobs supported, generating over $22 million in wages paid into the economy;
• $8.7 million in local, state, and federal taxes generated by the work in 2020;
• 10 jobs created and $1.2 million added to South Carolina’s economy for every new home constructed;
• Eight jobs created and almost $935,000 added to the economy for every owner-occupied home repair;
• $6.22 added to the state’s economy for every dollar donated to Habitat; and
• Nearly $62 million total economic impact because of Habitat for Humanity’s work in South Carolina.

As World Habitat Day continues to be celebrated around the globe today, Habitat for Humanity recognizes that the significant economic impacts of COVID-19 are yet to fully be quantified, as the number of families struggling to make ends meet continues to grow. In a parting message, Lee commented, “Today reminds us we all have the power--and the responsibility--to shape the future of our towns and the future of the neighbors who live alongside us.”

Read the full 2020 Economic Impact Analysis by Habitat for Humanity South Carolina here: https://www.southcarolinahabitat.org/reports.

About Habitat for Humanity South Carolina
Established as the state support office in 2012, Habitat for Humanity South Carolina is a nonprofit housing organization that brings people together to build homes, communities, and hope. The affiliate support organization expands the capacity of 29 local affiliates through advocacy, resource development, education and training, and disaster services. Habitat affiliates have built, rehabilitated, or repaired 4,544 homes across 37 counties since 1978. To learn more, visit: southcarolinahabitat.org.

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