Myrtle Beach, SC—29579
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 $351,000, 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 1.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $351,000 | -2.7% |
| Single Family | $383,000 | -2.3% |
| Condos | $191,000 | -8.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $121,000 | -12.9% |
2 Bed | $182,000 | -7.1% |
3 Bed | $320,000 | -3.0% |
4 Bed | $450,000 | -1.7% |
| 5 Bed | $490,000 | -0.6% |
% of Housing Stock
Rental Trends — Myrtle Beach, SC
As of July '25, Rentcast reports the average rent in Myrtle Beach, SC is $1,920, with a year-over-year rent change of -10.7%. Per bedroom, the median rent as of July '25 in Myrtle Beach, SC is studios: $1,960, 1-bedrooms: $1,370, 2-bedrooms: $1,510, 3-bedrooms: $1,980, 4-bedrooms: $2,390. The most common rental property sizes in Myrtle Beach, SC are 2-bedroom and 3-bedroom, accounting for 44.3% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,900 | $1,920 |
| Studio Rent | $1,840 | $1,960 |
| 1 Bed Rent | $1,290 | $1,370 |
| 2 Bed Rent | $1,500 | $1,510 |
| 3 Bed Rent | $2,000 | $1,980 |
| 4 Bed Rent | $2,300 | $2,390 |
% 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 68. This is a increase of 11.0% 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 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $364,000 | -4.0% |
Listing Count | 866 | -8.0% |
| Listings as % of Homes | 3.5% | -8.0% |
Days on Market | 68 | 11.0% |
Demographics — Myrtle Beach, SC
As of the latest ACS Survey released in 2023, Myrtle Beach, SC has a population of 53,700, which has increased by 33.3% over the past 5 years. Myrtle Beach, SC is a moderately popular place for families, as children make up 20.4% of the population. The area has a moderately educated workforce, with 34.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 53,700 | 33.3% |
% Under 18 | 20.4% | -8.9% |
% Seniors | 19.5% | 16.8% |
% WFH | 8.2% | 10.8% |
% w/ College Degree | 34.3% | 7.2% |
As of the latest ACS Survey released in 2023, Myrtle Beach, SC is a predominantly white area, with 77.4% of the population identifying as white. The white population has shrunk by 6.0% in the last 5 years. The second most common race or ethnicity in Myrtle Beach, SC is black, making up 8.8% of the population. Foreign-born residents account for 10.0% of the population in Myrtle Beach, SC, and this percentage has increased by 25.0% 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 | 77.4% | -6.0% |
% Black | 8.8% | -2.2% |
% Hispanic | 6.5% | 32.7% |
% Asian | 2.6% | 36.8% |
% Foreign Born | 10.0% | 25.0% |
Mortgage and Risk — Myrtle Beach, SC
According to HUD data as of 2023, there were 2376 mortgage originations in Myrtle Beach, SC, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 25.0% above 90% LTV (very high). This implies large mortgage risk in Myrtle Beach, SC. Investor activity is low, as 4.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 2,376 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 4.0% |
% Second Loans | 9.0% |
% Cash Out Refinance | 8.0% |
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 2.6%. 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, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 142 |
Total Units Section 8 | 142 |
% Rentals under Section 8 | 2.6% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,290 | $1,370 |
| 2 Bedroom | $110 | $1,500 | $1,610 |
| 3 Bedroom | $30 | $2,000 | $2,030 |
| 4 Bedroom | $60 | $2,300 | $2,360 |
Affordability — Myrtle Beach, SC
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.1 |
| Median Home Price | $351,000 |
| Median Household Income | $72,900 |