Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Horry County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $257,177 | $224,357 | $242,182 |
| Price Trend (Annual %) | 7.5% | 9.2% | 8.2% |
| Median Gross Rent | $1,180 | $1,126 | $1,342 |
| Rent Trend (Annual %) | 4.7% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Horry County is about 15% higher than in South Carolina. Rent is about 5% higher than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Horry County, up about 7.5% and 4.7% a year respectively. Home prices are changing faster.
Median rent in Horry County rose about 40.1% between 2015 and 2023, from $843 to $1,180. Over the same span, rent in South Carolina rose about 42.6%.
Affordability
On average, housing unit costs 4.0 yearly household incomes in Horry County.
Buying the median-priced home in Horry County costs roughly 18.2 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Horry County. The price-to-rent ratio in South Carolina is about 16.6.
| Metric | Horry County | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $257,177 | $224,357 | $242,182 |
| Median Household Income | $64,044 | $66,957 | $78,145 |
| Price-to-Income Ratio | 4.0 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2023, the median home price in Horry County rose about 56.8%, while median household income rose about 51.1% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Horry County | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 53.9% | 61.6% | 58.2% |
| Rental Rate | 17.2% | 24.6% | 31.3% |
| Vacancy Rate | 29.0% | 13.8% | 10.6% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Horry County has a homeownership rate of 53.9%, lower than the South Carolina average of 61.6%. Its housing vacancy rate is 29.0%, compared with 13.8% in South Carolina.
Housing Stock
| Metric | Horry County | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.45 people | 2.54 people |
| Median Structure Built Year | 1998 | 1989 | 1978 |
| Median Number of Rooms | 5.2 | 5.7 | 5.5 |
The typical housing unit in Horry County was built around 1998. On average, 2.4 people live in a home with about 5.2 rooms, staying for about 13.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Horry County, South Carolina.
What is the median home price in Horry County, South Carolina?
The median home price in Horry County, South Carolina is $257,177, higher than the South Carolina average of $224,357.
What is the average home price in Horry County, South Carolina?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Horry County, South Carolina?
The median gross rent in Horry County, South Carolina is $1,180 per month, higher than the South Carolina average of $1,126.
What was the median gross rent in Horry County in 2020?
In 2020, the median gross rent in Horry County, South Carolina was $974 per month.
What is the price-to-rent ratio in Horry County, South Carolina?
The price-to-rent ratio in Horry County, South Carolina is about 18.2, meaning it would take roughly 18.2 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Horry County.
Are home prices or rent rising faster in Horry County, South Carolina?
Both home prices and rent are rising in Horry County, up about 7.5% and 4.7% a year respectively. Home prices are changing faster.
What is the homeownership rate in Horry County, South Carolina?
53.9% of households in Horry County, South Carolina own their home, lower than the South Carolina average of 61.6%.
What is the vacancy rate in Horry County, South Carolina?
The housing vacancy rate in Horry County, South Carolina is 29.0%, higher than the South Carolina average of 13.8%.