Myrtle Beach, South Carolina Housing Market Prices
Myrtle Beach Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 9% above the South Carolina median$260,342
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Median rent 5% above the South Carolina median$1,241
Housing Market Overview
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,342 | $239,609 | $248,835 |
| Price Trend (Annual %) | 9.3% | 8.9% | 7.5% |
| Median Gross Rent | $1,241 | $1,179 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Myrtle Beach is about 9% higher than in South Carolina. Rent is about 5% higher than the South Carolina average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Myrtle Beach, up about 9.3% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Myrtle Beach rose about 49.2% between 2015 and 2024, from $832 to $1,241. Over the same span, rent in South Carolina rose about 49.3%.
Affordability
On average, housing unit costs 4.6 yearly household incomes in Myrtle Beach.
Buying the median-priced home in Myrtle Beach costs roughly 17.5 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 Myrtle Beach. The price-to-rent ratio in South Carolina is about 16.9.
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Median Home Price | $260,342 | $239,609 | $248,835 |
| Median Household Income | $56,153 | $69,383 | $80,455 |
| Price-to-Income Ratio | 4.6 | 3.5 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Myrtle Beach rose about 97.4%, while median household income rose about 34.8% between 2009 and 2025 — 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 | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.0% | 62.3% | 58.5% |
| Rental Rate | 28.1% | 24.4% | 31.2% |
| Vacancy Rate | 29.9% | 13.3% | 10.2% |
| Median Tenure (years) | 10.0 | 15.0 | 15.0 |
| Median Year Moved In | 2016 | 2011 | 2011 |
Myrtle Beach has a homeownership rate of 42.0%, lower than the South Carolina average of 62.3%. Its housing vacancy rate is 29.9%, compared with 13.3% in South Carolina.
Housing Stock
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.18 people | 2.44 people | 2.53 people |
| Median Structure Built Year | 1994 | 1990 | 1978 |
| Median Number of Rooms | 4.7 | 5.7 | 5.5 |
The typical housing unit in Myrtle Beach was built around 1994. On average, 2.2 people live in a home with about 4.7 rooms, staying for about 10.0 years on average.
Myrtle Beach, SC Housing Compared With Nearby Cities
How Myrtle Beach, SC compares with the 2 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Myrtle Beach, SC | 35,303 | $260,342 #3/3 | $1,241 #2/3 | 59.9% #3/3 |
| Carolina Forest, SC | 24,923 | $434,223 | $1,646 | 77.1% |
| Socastee, SC | 22,859 | $1,071,168 | $1,223 | 64.1% |
Frequently Asked Questions
Common questions about the housing market in Myrtle Beach, South Carolina.
What is the median home price in Myrtle Beach, South Carolina?
The median home price in Myrtle Beach, South Carolina is $260,342, higher than the South Carolina average of $239,609.
What is the average home price in Myrtle Beach, South Carolina?
The typical home price in Myrtle Beach, South Carolina, reported as the median sale price, is $260,342. 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 Myrtle Beach, South Carolina?
The median gross rent in Myrtle Beach, South Carolina is $1,241 per month, higher than the South Carolina average of $1,179.
What was the median gross rent in Myrtle Beach in 2020?
In 2020, the median gross rent in Myrtle Beach, South Carolina was $938 per month.
What is the price-to-rent ratio in Myrtle Beach, South Carolina?
The price-to-rent ratio in Myrtle Beach, South Carolina is about 17.5, meaning it would take roughly 17.5 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 Myrtle Beach.
Are home prices or rent rising faster in Myrtle Beach, South Carolina?
Both home prices and rent are rising in Myrtle Beach, up about 9.3% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Myrtle Beach, South Carolina?
42.0% of households in Myrtle Beach, South Carolina own their home, lower than the South Carolina average of 62.3%.
What is the vacancy rate in Myrtle Beach, South Carolina?
The housing vacancy rate in Myrtle Beach, South Carolina is 29.9%, higher than the South Carolina average of 13.3%.
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