North 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 North Myrtle Beach, South Carolina rental market.

North Myrtle Beach, South Carolina

Average Apartment Rent

$1,665

Y-o-Y Change in Average
Apartment Rent

-0.4%

As of November 2024

Compared to a year ago, North Myrtle Beach, South Carolina apartments have recorded a -0.4% rent decrease.

North 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
North Myrtle Beach $1,474 $1,594 $1,826 $1,805 $1,755 $1,714 $1,671 $1,659 $1,618 $1,665
National $1,596 $1,635 $1,708 $1,726 $1,714 $1,739 $1,733 $1,727 $1,752 $1,748
North Myrtle Beach
National
Nov 2021
$1,474
$1,596
Mar 2022
$1,594
$1,635
Jul 2022
$1,826
$1,708
Nov 2022
$1,805
$1,726
Mar 2023
$1,755
$1,714
Jul 2023
$1,714
$1,739
Nov 2023
$1,671
$1,733
Mar 2024
$1,659
$1,727
Jul 2024
$1,618
$1,752
Nov 2024
$1,665
$1,748

North Myrtle Beach, South Carolina Average Apartment Rent

North 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 North Myrtle Beach, South Carolina rentals, while condos priced Over $2,000 hold the lowest share of the market – 8.45%.

North Myrtle Beach, South Carolina Housing tenure**

Renter occupied housing units 1,433
Owner occupied housing units 7,510

Renters take up 16% of North Myrtle Beach, South Carolina real estate, occupying a total of 1,433 units, while homeowners live in 7,510 properties.

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

4.3

Renter median household income**

$50,529

Average household size of renter-occupied housing units**

2.39

Rental vacancy rate**

76.5%

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

No bedrooms 13
1 bed 74
2 beds 791
3 beds 459
4 beds 48
5 or more beds 48

There are 791 rentals in North Myrtle Beach, South Carolina with 2 beds making up the highest share of the market, at 55%. Units with No bedrooms, on the other hand, hold the lowest percentage (1%), amounting to 13 units. Overall, the median number of rooms in North Myrtle Beach, South Carolina homes for rent is 4.3.

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

15 - 24 years 87
25 - 34 years 189
35 - 44 years 256
45 - 54 years 228
55 - 59 years 182
60 - 64 years 160
65 - 74 years 237
75 - 84 years 86
85 years and over 8

Most condos for rent in North Myrtle Beach, South Carolina are occupied by residents in the 35 - 44 years age group (18%), followed by those in the 65 - 74 years age group (17%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 1%.

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

Family households 687
Non-Family Households 746

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

With related children of the householder under 18 363
No related children of the householder under 18 1,070

A total of 687 apartments for rent in North Myrtle Beach, South Carolina, or 48% of all rentals are family households. Additionally, 25% of rental homes include children under the age of 18 – that’s 363 units. All in all, the median size of a renter-occupied household in North Myrtle Beach, South Carolina is 2.39.

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

Less than high school graduate 168
High school graduate (including equivalency) 466
Some college or associate's degree 427
Bachelor's degree or higher 372

In terms of education, renters holding bachelor degrees or higher make up 26% of the rental market. In contrast, residents with less than a high school degree reside in 12% of the homes for rent in North Myrtle Beach, South Carolina.

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

Built 2010 - 2019 66
Built 2000 - 2009 357
Built 1990 - 1999 197
Built 1980 - 1989 286
Built 1970 - 1979 243
Built 1960 - 1969 93
Built 1950 - 1959 191

The highest share of North Myrtle Beach, South Carolina apartment rentals, namely 25% or 357 units, were Built 2000 - 2009, followed by those Built 1980 - 1989 (20%, 286 units), and the ones Built 1970 - 1979 (17%, 243 units).

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

Moved in 2021 or later 54
Moved in 2018 to 2020 480
Moved in 2010 to 2017 722
Moved in 2000 to 2009 152
Moved in 1990 to 1999 25

Median year renter moved into unit 2016

Most North Myrtle Beach, South Carolina renters (50%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their North Myrtle Beach, South Carolina condos for rent is 2016.

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

No vehicle available 113
1 vehicle available 739
2 vehicles available 331
3 vehicles available 209
4 or more vehicles available 41

When it comes to transportation options, 52% of North Myrtle Beach, South Carolina renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 15% have 3 vehicles available.

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

Car, truck, or van - drove alone 1,381
Car, truck, or van - carpooled 396
Walked 37
Taxicab, motorcycle, bicycle, or other means 51
Worked at home 107

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

Same house as 1 year ago 2,869
Moved within same county 317
Moved from different county within same state 37
Moved from different state 192

North 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 North 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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