Charleston faces housing crisis amid rising incomes and population shifts

Charleston's City Council meeting on February 25, 2025, spotlighted the city's rapid growth and its implications for housing and traffic. Council members discussed a significant trend: an influx of high-income residents moving into Charleston, which is pushing lower-income families further out of the city.

Data presented during the meeting revealed that the area median income for a household of four has surpassed $100,000, comparable to figures in New York City. This surge in income, coupled with a 22% increase from 2010 to 2020 and an additional 10% during the pandemic, indicates that newcomers to Charleston are wealthier than long-term residents. The demographic shift is leading to a decrease in population density in the Lower Peninsula, as smaller, affluent households move in while larger families relocate to the outskirts.

This trend is exacerbating traffic congestion, as more people commute into the city for work and leisure, rather than living close to their jobs. Council members emphasized that the housing crisis is fundamentally a transportation issue, highlighting the need for increased housing supply and affordability to accommodate the growing population.

A Skansky diagram presented during the meeting illustrated the disparity between household incomes and available affordable housing units. It showed a critical shortage of rental units for both low-income residents and those at the higher end of the income spectrum. The discussion underscored the challenge posed by higher-income individuals renting properties that would typically be affordable for lower-income families, further straining the housing market.

As Charleston continues to evolve, city leaders are urged to rethink their housing strategies to ensure that the needs of all residents are met, fostering a more balanced and sustainable community.