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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Murrells Inlet, SC Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Murrells Inlet, SC Housing Market Trends

With 9,740 people, 4,576 houses or apartments, and a median cost of homes of $528,176, Murrells Inlet house prices are not only among the most expensive in South Carolina, Murrells Inlet real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Murrells Inlet, accounting for 55.36% of the town's housing units. Other types of housing that are prevalent in Murrells Inlet include mobile homes or trailers ( 19.67%), large apartment complexes or high rise apartments ( 14.43%), and a few row houses and other attached homes ( 8.10%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Murrells Inlet. Owner-occupied housing accounts for 85.18% of Murrells Inlet's homes, and 71.15% have either three or four bedrooms, which is average sized relative to America.

Murrells Inlet homes and real estate are some of the newest in America. 51.37% of Murrells Inlet's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Murrells Inlet real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.17%), and between 1940-1969 ( 5.08%).

Vacant housing appears to be an issue in Murrells Inlet. Fully 16.75% of the housing stock is classified as vacant. Left unchecked, vacant Murrells Inlet homes and apartments can be a drag on the real estate market, holding Murrells Inlet real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Murrells Inlet Home Appreciation Rates

Appreciation rates for homes in Murrells Inlet have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 94.62%, which ranks in the top 40% nationwide. This equates to an annual average Murrells Inlet house appreciation rate of 6.89%.

Appreciation rates are so strong in Murrells Inlet that despite a nationwide downturn in the housing market, Murrells Inlet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Murrells Inlet appreciation rates continue to be some of the highest in America, at 6.75%, which is higher than appreciation rates in 72.71% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Murrells Inlet. Murrells Inlet appreciation rates in the latest quarter were at 1.20%, which equates to an annual appreciation rate of 4.88%.

Relative to South Carolina, our data show that Murrells Inlet's latest annual appreciation rate is lower than 60% of the other cities and towns in South Carolina.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Murrells Inlet differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Murrells Inlet - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Murrells Inlet real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$528,176

Murrells Inlet, SC Home Prices
> $1,363,000
$1,022,001 - $1,363,000
$681,001 - $1,022,000
$545,001 - $681,000
$408,001 - $545,000
$272,001 - $408,000
$136,001 - $272,000
$68,001 - $136,000
$0 - $68,000
1.5%
1.5%
3.4%
3.4%
17.8%
17.8%
14.9%
14.9%
22.1%
22.1%
11.2%
11.2%
16.6%
16.6%
7.7%
7.7%
4.8%
4.8%
0% 100.0%
% of Homes
Very High

for South carolina

Very High

for nation

Number of Homes And Apartments:

4,576

Murrells Inlet Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,523 / per month

Homeownership Rate

Owners
Renters
85.2%
85.2%
14.8%
14.8%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
16.8%
16.8%
83.2%
83.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
51.4%
51.4%
43.2%
43.2%
5.1%
5.1%
0.4%
0.4%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
55.4%
55.4%
8.1%
8.1%
2.5%
2.5%
14.4%
14.4%
19.7%
19.7%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
1.4%
1.4%
25.1%
25.1%
49.0%
49.0%
22.2%
22.2%
2.3%
2.3%
0% 100.0%
% of Homes

Zip Codes in Murrells Inlet, SC