Owner/Renter Tenure

shown in Figure X, single family units (attached and detached) comprised nearly three-quarters (~72%) of all housing units in Hanahan in 2019. Approximately 6% of housing units were mobile homes, another 5% of units were duplexes, triplexes or quadruplexes, and the remaining 17% were multi-family units.

FIGURE X: HANAHAN HOUSING TYPES, 2019

6%

Owner/Renter Tenure Housing tenure describes the financial arrangement under which a person(s) or family occupy a housing unit. Units are typically either owner-occupied or renter-occupied, wherein a tenant pays a landlord rent for use of the unit. Housing affordability of an area has a large impact on the ratio of owner-occupied versus renter-occupied housing. Additional factors that influence the tenancy ratio include: the demographic make-up of a community, as young adults, young families and seniors often either prefer to rent or cannot afford or maintain a home; the proximity to colleges, universities, or other seasonally affected markets, as these communities often rely and thrive on the rental market; and the density of an area, as more urban locations tend to have a higher percentage of renters. As seen in Figure X, more urbanized places like North Charleston have a comparable ratio of owner- versus renter-occupied housing as compared to more rural places like Moncks Corner. Suburban areas, such as Hanahan and Goose Creek, tend to fall somewhere in the middle but often lean toward higher levels of owner-occupancy due to the relative affordability of the suburbs combined with the zoning restrictions implemented in these areas, which effectively ‘zone-out’ the typical multi-family type units for renters.

67% 5% 5% 17% Single Family Detached Single Family Attached Duplex, Triplex or Quadriplex Multi-Family Mobile home NOV PC DRAFT FIGURE X: TENURE OF HOUSING UNITS, 2019