Myrtle Beach, South Carolina Rental Market Trends

Disclaimer:

Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Myrtle Beach, South Carolina rental market.

Highlights

An apartment for rent in Myrtle Beach, South Carolina typically goes for $1,639 per month, while a single-family home for rent in Myrtle Beach, South Carolina has a monthly cost of around $2,497. Renter-occupied units make up 39% of the local housing market, while the rental vacancy rate in Myrtle Beach, South Carolina is at 24.5.

Myrtle Beach, South Carolina

Average Apartment Rent

$1,639

Y-o-Y Change in Average
Apartment Rent

1.6%

Average Single-Family Rent

$2,497

As of November 2024

Compared to a year ago, Myrtle Beach, South Carolina apartments have recorded a 1.6% rent increase.

Myrtle Beach, South Carolina Average apartment rent trend

Median Rent Nov 2021 Mar 2022 Jul 2022 Nov 2022 Mar 2023 Jul 2023 Nov 2023 Mar 2024 Jul 2024 Nov 2024
Myrtle Beach $1,415 $1,401 $1,540 $1,589 $1,551 $1,601 $1,599 $1,601 $1,624 $1,639
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
Myrtle Beach
National
Nov 2021
$1,415
$1,596
Mar 2022
$1,401
$1,635
Jul 2022
$1,540
$1,708
Nov 2022
$1,589
$1,726
Mar 2023
$1,551
$1,714
Jul 2023
$1,601
$1,739
Nov 2023
$1,599
$1,733
Mar 2024
$1,601
$1,727
Jul 2024
$1,624
$1,752
Nov 2024
$1,639
$1,748

Myrtle Beach, South Carolina Average Apartment Rent

Myrtle Beach, South Carolina Apartment rent ranges

Under $500
$500 - $700
$700 - $1000
$1,000 - $1,500
$1,500 - $2,000
Over $2,000

At 52.79%, apartments priced $1,500 - $2,000 represent the bulk of Myrtle Beach, South Carolina rentals, while condos priced Over $2,000 hold the lowest share of the market – 10.09%.

Myrtle Beach, South Carolina Housing tenure**

Renter occupied housing units 6,385
Owner occupied housing units 9,816

Renters take up 39% of Myrtle Beach, South Carolina real estate, occupying a total of 6,385 units, while homeowners live in 9,816 properties.

Median number of rooms of renter-occupied housing units**

4

Renter median household income**

$32,769

Average household size of renter-occupied housing units**

2.38

Rental vacancy rate**

24.5%

Myrtle Beach, South Carolina Renter-occupied housing units by no. of bedrooms**

No bedrooms 340
1 bed 1,250
2 beds 3,051
3 beds 1,586
4 beds 153

There are 3,051 rentals in Myrtle Beach, South Carolina with 2 beds making up the highest share of the market, at 48%. Units with 4 beds, on the other hand, hold the lowest percentage (2%), amounting to 153 units. Overall, the median number of rooms in Myrtle Beach, South Carolina homes for rent is 4.

Myrtle Beach, South Carolina Renter-occupied units by age of householder**

15 - 24 years 324
25 - 34 years 1,507
35 - 44 years 1,147
45 - 54 years 1,293
55 - 59 years 549
60 - 64 years 443
65 - 74 years 765
75 - 84 years 252
85 years and over 105

Most condos for rent in Myrtle Beach, South Carolina are occupied by residents in the 25 - 34 years age group (24%), followed by those in the 45 - 54 years age group (20%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.

Myrtle Beach, South Carolina Renter-occupied housing units by family type**

Family households 2,839
Non-Family Households 3,546

Myrtle Beach, South Carolina Renter-occupied housing units by the presence of own children**

With related children of the householder under 18 1,570
No related children of the householder under 18 4,815

A total of 2,839 apartments for rent in Myrtle Beach, South Carolina, or 44% of all rentals are family households. Additionally, 25% of rental homes include children under the age of 18 – that’s 1,570 units. All in all, the median size of a renter-occupied household in Myrtle Beach, South Carolina is 2.38.

Myrtle Beach, South Carolina Renter-occupied housing units by educational attainment**

Less than high school graduate 821
High school graduate (including equivalency) 2,119
Some college or associate's degree 2,224
Bachelor's degree or higher 1,221

In terms of education, renters holding bachelor degrees or higher make up 19% of the rental market. In contrast, residents with less than a high school degree reside in 13% of the homes for rent in Myrtle Beach, South Carolina.

Myrtle Beach, South Carolina Renter-occupied units by year structure built**

Built 2010 - 2019 1,084
Built 2000 - 2009 1,198
Built 1990 - 1999 691
Built 1980 - 1989 1,425
Built 1970 - 1979 929
Built 1960 - 1969 481
Built 1950 - 1959 433
Built 1940 - 1949 77
Built 1939 or earlier 67

The highest share of Myrtle Beach, South Carolina apartment rentals, namely 22% or 1,425 units, were Built 1980 - 1989, followed by those Built 2000 - 2009 (19%, 1,198 units), and the ones Built 2010 - 2019 (17%, 1,084 units).

Myrtle Beach, South Carolina Renter-occupied units by year householder moved in**

Moved in 2021 or later 719
Moved in 2018 to 2020 2,142
Moved in 2010 to 2017 2,907
Moved in 2000 to 2009 523
Moved in 1990 to 1999 87

Median year renter moved into unit 2017

Most Myrtle Beach, South Carolina renters (46%) moved in 2010 to 2017, while only 1% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Myrtle Beach, South Carolina condos for rent is 2017.

Myrtle Beach, South Carolina Renter-occupied housing units by vehicles available**

No vehicle available 997
1 vehicle available 3,255
2 vehicles available 1,821
3 or more vehicles available 312

When it comes to transportation options, 51% of Myrtle Beach, South Carolina renters have 1 vehicle available per household, 29% of them have 2 vehicles available, and 16% have No vehicle available.

Myrtle Beach, South Carolina Means of transportation to work of householders living in renter-occupied housing units**

Car, truck, or van - drove alone 5,647
Car, truck, or van - carpooled 743
Public transportation (excluding taxicab) 210
Walked 404
Taxicab, motorcycle, bicycle, or other means 371
Worked at home 320

Myrtle Beach, South Carolina Geographical mobility in the past year for householders living in renter-occupied housing units**

Same house as 1 year ago 12,467
Moved within same county 1,225
Moved from different county within same state 207
Moved from different state 1,169

Myrtle Beach, South Carolina Average apartment rent by zip codes


The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Myrtle Beach, South Carolina apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.

*Average single-family rent calculated from point2homes.com data.

**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates

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