Real Estate Investing in Myrtle Beach, South Carolina (29588)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 29588 (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 middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 12.0% of homes vacant — above national norms.
What’s happening in Myrtle Beach, SC (29588)?
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Market Analysis: 29588 Myrtle Beach
The 29588 ZIP covers a section of Myrtle Beach that demands careful diligence. Prices near $325K look accessible, but the work to make a deal cash flow is real.
Stepping back, the numbers look inviting — $325K purchase price, 0.0% nominal cap — the work to hit that pro forma in 29588 is substantial and deserves full respect.
In the broader SC picture, 29588 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Put differently, 53,114 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategically, 29588 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Myrtle Beach:
Property Strategy for 29588
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $111,311 | $1,280 | 8.3% | +9.1% | $111,311 |
| 2BR | $191,368 | $1,520 | 5.7% | +8.0% | $95,684 |
| 3BR | $308,123 | $1,870 | 4.4% | +7.3% | $102,708 |
| 4BR | $392,173 | $2,190 | 4.0% | +7.3% | $98,043 |
| 5BR | $431,516 | — | — | +6.9% | $86,303 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29588 Compare?
| Metric | 29588 | Myrtle Beach | South Carolina |
|---|---|---|---|
| Home Value | $324,770 | $320,865 | $299,690 |
| 5-Year CAGR | 5.1% | 5.0% | 7.3% |
| Avg Rent | $1,682 | $1,673 | - |
| Cap Rate | 4.0% | 4.1% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29588 (Myrtle Beach, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $324,770 |
| Monthly Rent | $1,682 |
| Price-to-Rent | 16.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 9.1% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | -0.1% ▼ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +6.2% ▲ |
🏠 Rent Trends
| 1-Year | -5.8% ▼ |
| 3-Year CAGR | +0.2% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). 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 29588
Population: 53,114
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 29588
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 much should I expect to pay for a home in Myrtle Beach, SC?
Expect median prices around $325K in Myrtle Beach, SC. The market has run at a 0.0% 5-year CAGR, so entry costs have been predictable.
What approach is best for Myrtle Beach, SC real estate?
The best-fit strategy in Myrtle Beach, SC is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
What are rental rates like in Myrtle Beach, SC?
Rental rates in Myrtle Beach, SC average $1,682/mo. Tenant demand and $325K home values make the yield look reasonable by investor standards.
Is Myrtle Beach, SC landlord-friendly?
SC law landlord-friendly for landlords, and Myrtle Beach inherits those rules. Investors should still review local ordinances for rental licensing.
Does Myrtle Beach, SC make sense for an investment property?
The 3.0/5 investability rating in Myrtle Beach, SC reflects its $325K prices and $1,682/mo rents. Investors generally consider it a solid option within SC.
You know 29588 now. You don’t know where it ranks.
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How 29588 ranks in Myrtle Beach-Conway-North Myrtle Beach, SC-NC
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