Real Estate Prices and Overview
Ocean Forest median real estate prices are $265,880, which is more expensive than 93.1% of the neighborhoods
in South Carolina and 73.6% of the
neighborhoods in the U.S.
Average rental prices in Ocean Forest are currently
$977, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 82.7%
of the neighborhoods in South Carolina.
Ocean Forest is a suburban neighborhood (based on population
density) located in Myrtle Beach, South Carolina. This is a coastal neighborhood (i.e., is on the ocean, a bay, or inlet).
Ocean Forest real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) apartment complexes/high-rise apartments and single-family homes.
Most of the residential real estate is owner occupied. Many of
the residences in the Ocean Forest neighborhood are established but not old, having been built between 1970 and 1999. A number of residences were also built between 1940 and 1969.
Vacant apartments or homes are a major fact of life in
Ocean Forest. The current real estate vacancy rate here is 64.5%.
This is higher than the rate of vacancies in 99.5% of
all U.S. neighborhoods. This can sometimes be the case in neighborhoods
dominated by seasonal homes (such as vacation areas), and occasionally
it is also found in neighborhoods that are primarily filled with college
students, as some apartments could be vacant when school is not in session.
But often neighborhoods with vacancy rates this high are places that
can be plagued by a protracted vacancy problem. If you live here, you
may find that a number of buildings in your neighborhood are actually empty.
Notable & Unique Neighborhood Characteristics
The way a neighborhood looks and feels when you walk or drive around it, from
its setting, its buildings, and its flavor, can make all the difference. This
neighborhood has some really cool things about the way it looks and feels as
revealed by NeighborhoodScout's exclusive research. This might include anything
from the housing stock to the types of households living here to how people
Notable & Unique: Real Estate
Ocean Forest is a neighborhood that is on the ocean, a bay, or inlet.
Many times, such places have amenities that bring locals and visitors to the
waterfront for recreational activities or to check out the scenery.
In some densely populated areas that are less financially well-off, the neighborhood
waterfront can be relatively industrial and less open to recreation.
In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 64.5% of the residential real estate vacant, the Ocean Forest neighborhood claims the distinction of having a higher vacancy rate than 99.5% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.
Furthermore, the real estate in the Ocean Forest neighborhood really stands out in the way it looks for a unique reason: this neighborhood has a higher proportion of apartment complexes or high-rise apartments than nearly every neighborhood in the country. Most neighborhoods are a mixture of real estate and housing types, but here it is almost entirely dominated by big apartment buildings and complexes. In fact, 68.7% of the real estate here is classified as apartment complexes or high-rise apartments, which is more than is found in 95.6% of American neighborhoods.
Notable & Unique: Diversity
Did you know that the Ocean Forest neighborhood has more
Portuguese and English ancestry people living in it than nearly
any neighborhood in America? It's true! In fact, 9.4% of
this neighborhood's residents have Portuguese ancestry and 23.0% have English ancestry.
Ocean Forest is also pretty special linguistically. Significantly, 9.6% of its residents five years old and above primarily
speak Portuguese at home. While this may seem like a small percentage, it is higher
than 99.7% of the neighborhoods in America.
Notable & Unique: Modes of Transportation
Our research shows that more people carpool to work here in the
Ocean Forest (23.2%) than in 96.8% of the
neighborhoods in America.
Notable & Unique: Migration/Stability
Some neighborhoods have more internal cohesiveness than others. While other
neighborhoods feel like a collection of strangers who just happen to live
near each other. Sometimes this comes down to not only the personalities
of the people in a place, but how long people have been together in that
neighborhood. NeighborhoodScout's research has revealed some interesting
things about the rootedness of people in the Ocean Forest
More residents of the Ocean Forest neighborhood live here
today that also were living in this same neighborhood five years ago
than is found in 96.6% of U.S. neighborhoods. This neighborhood
is really made up of people who know each other, don't move often, and
have lived here in this very neighborhood for quite a while.
Notable & Unique: People
If you are an executive or professional seeking a neighborhood affording
an executive lifestyle, or just wanting to find where other executives
live in the area, the Ocean Forest neighborhood should be
on your list. It has an enviable mix of spacious homes, relatively stable
real estate values, and residents that include a number of wealthy
executives, managers, and professionals. NeighborhoodScout's exclusive
analysis places it as one of the top 13.0% executive lifestyle
neighborhoods in the state of South Carolina.
In addition to being an excellent choice for highly educated executives, this
neighborhood is also a very good choice for active retirees.
The Neighbors: Income
There are two complementary measures for understanding the income of a
neighborhood's residents: the average and the extremes. While a neighborhood
may be relatively wealthy overall, it is equally important to understand
the rate of people - particularly children - who are living at or below the
federal poverty line, which is extremely low income. Some neighborhoods with
a lower average income may actually have a lower childhood poverty rate than
another with a higher average income, and this helps us understand the
conditions and character of a neighborhood.
The neighbors in the Ocean Forest neighborhood in Myrtle Beach are middle-income, making it a moderate income neighborhood.
NeighborhoodScout's exclusive analysis reveals that this neighborhood has
a higher income than 59.7% of the neighborhoods in America.
With 24.5% of the children here below the federal poverty
line, this neighborhood has a higher rate of childhood poverty than 65.9%
of U.S. neighborhoods.
The Neighbors: Occupations
The old saying "you are what you eat" is true. But it is also true that you
are what you do for a living. The types of occupations your neighbors have
shape their character, and together as a group, their collective occupations
shape the culture of a place.
In the Ocean Forest neighborhood, 45.6%
of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is
manufacturing and laborer occupations, with 27.1% of the residents employed.
Other residents here are employed in sales and service jobs, from major sales accounts, to working in fast food restaurants
(15.9%), and 11.4% in clerical, assistant, and tech support occupations.
The Neighbors: Ethnicity / Ancestry
Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves,
Los Angeles' Persian neighborhoods. Each has its own culture derived primarily
from the ancestries and culture of the residents who call these neighborhoods
home. Likewise, each neighborhood in America has its own culture – some more
unique than others – based on lifestyle, occupations, the types of households
– and importantly – on the ethnicities and ancestries of the people who live
in the neighborhood. Understanding where people came from, who their grandparents
or great-grandparents were, can help you understand how a neighborhood is today.
In the Ocean Forest neighborhood in Myrtle Beach, SC, residents
most commonly identify their ethnicity or ancestry as English
(23.0%). There are also a number of people of German ancestry (10.3%) , and residents who report Portuguese roots (9.4%) , and some of the residents are also of Italian ancestry (7.1%) , along with some Irish ancestry residents (6.4%), among others. In addition, 12.9% of the residents of this neighborhood were born in another country.
The Neighbors: Languages
The languages spoken by people in this neighborhood are diverse. These are
tabulated as the languages people preferentially speak when they are
at home with their families.
The most common language spoken in the Ocean Forest
neighborhood is English, spoken by 83.9% of households. Other important languages spoken here include Portuguese and Spanish.
Getting to Work
How you get to work – car, bus, train or other means – and how much of your
day it takes to do so is a large quality of life and financial issue. Especially
with gasoline prices rising and expected to continue doing so, the length and
means of one's commute can be a financial burden. Some neighborhoods are physically
located so that many residents have to drive in their own car, others are set
up so many walk to work, or can take a train, bus, or bike.
The greatest number of commuters in Ocean Forest neighborhood spend
under 15 minutes commuting one-way to work (57.3% of working
residents), one of the shortest commutes across America.
Here most residents (71.7%) drive alone in a private automobile to get to work.
In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (23.2%) . In a neighborhood like this, as in most of the nation, many residents find owning
a car useful for getting to work.