Housing Market in Myrtle Beach
Myrtle Beach's housing market shows a real, wide spread across sources -- Redfin's $258,000 median sale price (three months through June 2026, down 5.4% YoY) versus Zillow's $323,460 home-value estimate for the same period, plus a January 2026 snapshot at $274,000 and a separate mid-2026 figure showing a $315,000 median *sold* price against a lower $250,000 median *asking* price -- inside a genuinely non-competitive, current buyer's market.
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Learn moreFour Disclosed Price Figures, Not One Settled Number
This pass surfaced four meaningfully different price figures for the same general 2026 period: Redfin's rolling three-month median sale price of $258,000 (down 5.4% year-over-year), Zillow's home-value estimate of $323,460 (down 0.5% YoY, a different methodology measuring estimated value across all homes rather than recent sales), a January 2026 snapshot citing $274,000 ($254/sqft), and a separate mid-2026 source citing a $315,000 median *sold* price over the trailing six months against a notably lower $250,000 median *asking* price for current listings. None is treated as more authoritative than another -- the honest range runs roughly $250,000 to $323,000 depending on source, methodology, and whether sold or asking prices are measured.
A Real, Current Buyer's Market
Multiple signals point the same direction: homes take a median 121 days to sell and receive about 1 offer on average per Redfin, while the gap between the $315,000 trailing-6-month sold price and the lower $250,000 current asking price (both cited above) suggests sellers may be adjusting expectations downward for newly listed inventory. This is a genuinely slower, less-competitive market than the tight, multiple-offer conditions seen in some other metros covered in this project.
The Short-Term-Rental Market Is a Real, Distinct Dynamic
Myrtle Beach's housing market is genuinely shaped by short-term/vacation-rental demand in a way most residential markets aren't: an oceanfront 2-bedroom condo generates 58% more revenue than a comparable off-beach unit, with gross rental income of $25,000-$50,000+/year at 55-70% occupancy for well-managed units. But this income is genuinely seasonal -- June through August alone drives roughly 45% of annual revenue -- and operating expenses (management/platform fees, HOA, insurance, property tax, maintenance, cleaning) typically consume 55-65% of gross income. Anyone evaluating an oceanfront purchase purely as a primary residence, without weighing this real rental-income dynamic, is missing a major factor in how that segment of the market actually prices.
Owner-Occupied vs. Investment-Property Tax Treatment Affects the Math
As covered on the property-taxes topic page, South Carolina assesses owner-occupied homes at a 4% ratio versus 6% for second homes and investment property -- a real, meaningful difference in carrying cost that factors directly into the short-term-rental economics above, since most oceanfront rental condos are taxed at the higher 6% rate rather than the primary-residence 4% rate.
Below-National-Average Pricing, Against a Real Local Income Gap
As detailed on the cost-of-living topic page, this pricing sits against a Myrtle Beach city median household income of $53,679 -- well below the county ($64,623), state ($66,818), and national ($78,538) figures. Home prices running below the national average don't automatically mean affordable relative to local wages; the honest picture depends on which income base is being compared.
Key takeaways
- Four separately cited 2026 price figures ran from about $250,000 (current asking) to $323,460 (Zillow home-value estimate) -- treat this as a real, wide range rather than one settled number.
- The market is genuinely non-competitive right now: 121 median days on market and about 1 offer per listing per Redfin, with asking prices for new listings running below recent trailing-6-month sold prices.
- Short-term-rental demand is a real, distinct dynamic shaping oceanfront pricing specifically -- 58% revenue premium over off-beach units, but genuinely seasonal (45% of revenue in June-August) with 55-65% of gross income going to expenses.
- South Carolina's 4% (owner-occupied) vs. 6% (investment/second-home) property tax assessment split is a real, meaningful factor in short-term-rental math, since most rental condos are taxed at the higher rate.
- Below-national-average pricing sits against a real local income gap: Myrtle Beach's $53,679 median household income runs well below county, state, and national figures.
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