South Carolina, known for its beautiful beaches and historic cities, offers excellent opportunities for short-term rental investors. From vibrant coastal towns to charming inland cities, these markets provide strong investment potential.
Our latest tool, Chalet Intel, provides comprehensive insights and strategies tailored to investors at all experience levels. It includes a calculator, regulation overview, and much more for each market discussed. Links will be provided for each market, allowing you to conduct a more detailed analysis on your own.
1. Myrtle Beach, South Carolina
Myrtle Beach, South Carolina, renowned for its wide sandy beaches and vibrant entertainment options, continues to attract families and tourists seeking a lively beach town experience.
Myrtle Beach has experienced a slight decline in home values by -1.15%, with the average home price now at $303,212. The market stands out with an impressive Average Daily Rate (ADR) of $317.87 and an occupancy rate of 53.56%. With 3,441 active listings, short-term rentals generate an annual revenue of $47,804. Investors can look forward to a gross yield of 15.77% and a cap rate of 9.46%, while property taxes remain notably low at 0.36%.
Check out our Myrtle Beach STR Market Insights for a deeper dive into our analysis of this short-term rental market.
2. North Charleston, South Carolina
North Charleston, South Carolina, located in the thriving Charleston metropolitan area, is celebrated for its rich history, cultural diversity, and economic growth.
North Charleston has experienced a notable increase in home values by 4.34%, with the average home price now at $305,172. The market shows strong performance with an Average Daily Rate (ADR) of $211.87 and an occupancy rate of 59.30%. With 697 active listings, short-term rentals generate annual revenues of $44,804. Investors benefit from a gross yield of 14.68% and a cap rate of 8.81%, while property taxes remain attractively low at 0.45%.
Check out our North Charleston STR Market Insights for a deeper dive into our analysis of this short-term rental market.
