Real Estate Investing in Hilton Head Island, South Carolina (29928)
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Should you buy in 29928 (Hilton Head Island, SC)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 60.4% of homes vacant — above national norms.
What’s happening in Hilton Head Island, SC (29928)?
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Market Analysis: 29928 Hilton Head Island
The 29928 ZIP covers a section of Hilton Head Island that demands careful diligence. Prices near $772K look accessible, but the work to make a deal cash flow is real.
The investment case in 29928 is healthy only for operators who understand what they are buying. A $772K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
ZIP 29928's metrics run below Beaufort County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
The demographic picture in 29928 includes headwinds that any investor should price in. Income distribution skews lower than Hilton Head Island averages, and tenant stability requires active management.
New investors are better served looking at Hilton Head Island's stable or hybrid ZIPs before stepping into 29928. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Hilton Head Island:
Property Strategy for 29928
Which property type performs best in this market?
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| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $389,946 | $1,730 | 3.2% | +8.7% | $389,946 |
| 2BR | $534,319 | $1,900 | 2.6% | +11.5% | $267,160 |
| 3BR | $1,042,979 | $2,280 | 1.6% | +12.9% | $347,660 |
| 4BR | $1,848,427 | $2,850 | 1.1% | +13.7% | $462,107 |
| 5BR | $3,051,608 | — | — | +14.1% | $610,322 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 29928 Compare?
| Metric | 29928 | Hilton Head Island | Hilton Head Island-Bluffton, SC | South Carolina |
|---|---|---|---|---|
| Home Value | $771,543 | $762,556 | N/A | $299,690 |
| 5-Year CAGR | 7.2% | 7.6% | N/A | 7.3% |
| Avg Rent | $3,079 | $3,001 | N/A | - |
| Cap Rate | 3.1% | 3.1% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 29928 (Hilton Head Island, SC). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $771,543 |
| Monthly Rent | $3,079 |
| Price-to-Rent | 20.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 10.3% |
📈 Home Appreciation
| 1-Year | +3.4% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +7.2% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -11.1% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 29928
Population: 15,178
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
Frequently Asked Questions
Is vacancy a concern in Hilton Head Island, SC?
Hilton Head Island, SC carries elevated vacancy risk. Expect steady absorption at market rents of $3,079/mo.
How should investors approach Hilton Head Island, SC?
For Hilton Head Island, SC, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is Hilton Head Island, SC a smart market for rental property?
Hilton Head Island, SC scores 3.0/5 for investability. Home values sit at $772K and rents near $3,079/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
Can I house hack in Hilton Head Island, SC?
House hacking in Hilton Head Island, SC is reasonable to execute. Prices around $772K and rents of $3,079/mo solid owner-occupant economics.
How much rent can I charge in Hilton Head Island, SC?
Rent in Hilton Head Island, SC is around $3,079/mo. The resulting rent-to-value relationship with $772K pricing is reasonable for most investor models.
You know 29928 now. You don’t know where it ranks.
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How 29928 ranks in Hilton Head Island-Bluffton, SC
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