Real Estate Investing in Myrtle Beach, South Carolina (29577)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29577 (Myrtle Beach, SC)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- High vacancy: 31.6% of homes vacant — above national norms.
What’s happening in Myrtle Beach, SC (29577)?
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Market Analysis: 29577 Myrtle Beach
This part of Horry County is not an easy win. The 29577 ZIP clocks in at softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $280K asset, 29577 is the wrong submarket. If the plan prices in friction, the yield can still work.
On balance, 29577 offers a low basis, the region around Myrtle Beach has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Employment concentration in 29577 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 29577 is an operator game, not a passive one. From an investor standpoint, entry prices of $280K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Myrtle Beach:
Property Strategy for 29577
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $155,534 | $1,190 | 5.5% | +7.2% | $155,534 |
| 2BR | $222,214 | $1,420 | 4.6% | +8.3% | $111,107 |
| 3BR | $362,367 | $1,750 | 3.5% | +7.2% | $120,789 |
| 4BR | $493,232 | $2,050 | 3.0% | +7.7% | $123,308 |
| 5BR | $549,188 | — | — | +7.3% | $109,838 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29577 Compare?
| Metric | 29577 | Myrtle Beach | South Carolina |
|---|---|---|---|
| Home Value | $279,713 | $320,865 | $299,690 |
| 5-Year CAGR | 4.9% | 5.0% | 7.3% |
| Avg Rent | $1,680 | $1,673 | - |
| Cap Rate | 4.7% | 4.1% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29577 (Myrtle Beach, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $279,713 |
| Monthly Rent | $1,680 |
| Price-to-Rent | 13.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 7.2% |
| Cap Rate | 4.7% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +0.3% ▲ |
| 3-Year CAGR | -2.1% ▼ |
| 5-Year CAGR | +4.9% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | -1.6% ▼ |
| 3-Year CAGR | +1.6% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 29577
Population: 35,022
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 29577
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 4,344 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How tight is the rental market in Myrtle Beach, SC?
Myrtle Beach, SC carries elevated vacancy risk. Expect consistent absorption at market rents of $1,680/mo.
Is Myrtle Beach, SC good for house hacking?
The house hack math a challenging in Myrtle Beach, SC. Owner-occupant buyers benefit from the $1,680/mo rents and $280K home values.
Is Myrtle Beach, SC a smart market for rental property?
The 3.0/5 investability rating in Myrtle Beach, SC reflects its $280K prices and $1,680/mo rents. Investors generally consider it a solid option within SC.
Are homes affordable in Myrtle Beach, SC?
Myrtle Beach, SC median home values land near $280K. That is reasonable territory for investors looking at $1,680/mo-per-month rentals.
How much do tenants pay in Myrtle Beach, SC?
Expect rents around $1,680/mo per month in Myrtle Beach, SC. With home values at $280K, the yield math works out to reasonable levels for rental investors.
You know 29577 now. You don’t know where it ranks.
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How 29577 ranks in Myrtle Beach-Conway-North Myrtle Beach, SC-NC
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