Myrtle Beach, SC—29588
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Myrtle Beach, SC
As of Oct '25, the median home price in Myrtle Beach, SC is $319,000, with a year-over-year change of -2.7%. This indicates that home prices in Myrtle Beach, SC are decreasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $319,000 | -2.7% |
| Single Family | $333,000 | -2.3% |
| Condos | $169,000 | -7.1% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $111,000 | -12.6% |
2 Bed | $191,000 | -5.0% |
3 Bed | $308,000 | -2.8% |
4 Bed | $392,000 | -1.5% |
| 5 Bed | $432,000 | -1.6% |
% of Housing Stock
Rental Trends — Myrtle Beach, SC
As of July '25, Rentcast reports the average rent in Myrtle Beach, SC is $1,840, with a year-over-year rent change of -12.4%. Per bedroom, the median rent as of July '25 in Myrtle Beach, SC is studios: $900, 1-bedrooms: $1,260, 2-bedrooms: $1,550, 3-bedrooms: $2,050, 4-bedrooms: $2,290. The most common rental property sizes in Myrtle Beach, SC are 2-bedroom and 3-bedroom, accounting for 36.2% and 35.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,820 | $1,840 |
| Studio Rent | $900 | $900 |
| 1 Bed Rent | $1,250 | $1,260 |
| 2 Bed Rent | $1,550 | $1,550 |
| 3 Bed Rent | $2,100 | $2,050 |
| 4 Bed Rent | $2,300 | $2,290 |
% of Rental Stock
Property Listings — Myrtle Beach, SC
As of Oct '25, Realtor.com reports that the median days on market for a home in Myrtle Beach, SC is 69. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $330,000 | -4.0% |
Listing Count | 640 | 13.0% |
| Listings as % of Homes | 2.4% | 13.0% |
Days on Market | 69 | 18.0% |
Demographics — Myrtle Beach, SC
As of the latest ACS Survey released in 2023, Myrtle Beach, SC has a population of 53,100, which has increased by 17.0% over the past 5 years. Myrtle Beach, SC is a moderately popular place for families, as children make up 19.5% of the population. The area has a moderately educated workforce, with 26.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,100 | 17.0% |
% Under 18 | 19.5% | -7.1% |
% Seniors | 22.8% | 19.4% |
% WFH | 8.6% | 95.5% |
% w/ College Degree | 26.0% | 15.6% |
As of the latest ACS Survey released in 2023, Myrtle Beach, SC is a predominantly white area, with 76.8% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Myrtle Beach, SC is hispanic, making up 11.0% of the population. Foreign-born residents account for 8.1% of the population in Myrtle Beach, SC, and this percentage has increased by 8.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 76.8% | -3.2% |
% Black | 6.5% | -19.8% |
% Hispanic | 11.0% | 10.0% |
% Asian | 1.1% | -21.4% |
% Foreign Born | 8.1% | 8.0% |
Mortgage and Risk — Myrtle Beach, SC
According to HUD data as of 2023, there were 1487 mortgage originations in Myrtle Beach, SC, of which 72.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Myrtle Beach, SC. Investor activity is low, as 3.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,487 |
% Conventional Loans | 72.0% |
% Government Loans | 28.0% |
% Investor Loans | 3.0% |
% Second Loans | 7.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Myrtle Beach, SC
As of 2024, the percent of homes in Myrtle Beach, SC under the Section 8 program is 4.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Myrtle Beach, SC, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 222 |
Total Units Section 8 | 221 |
% Rentals under Section 8 | 4.9% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$10 | $1,250 | $1,240 |
| 2 Bedroom | -$100 | $1,550 | $1,450 |
| 3 Bedroom | -$270 | $2,100 | $1,830 |
| 4 Bedroom | -$170 | $2,300 | $2,130 |
Affordability — Myrtle Beach, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.9 |
| Median Home Price | $319,000 |
| Median Household Income | $66,900 |