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 82.9%
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
When you see a neighborhood for the first time, the most important thing
is often the way it looks, like its homes and its setting. Some places look
the same, but they only reveal their true character after living in them for
a while because they contain a unique mix of occupational or cultural groups.
This neighborhood is very unique in some important ways, according to
NeighborhoodScout's exclusive exploration and analysis.
Notable & Unique: Real Estate
Do you like a coastal setting? If so, this neighborhood may be to your liking.
The Ocean Forest neighborhood is on the ocean, a bay, or inlet.
Often such coastal places have amenities and recreational activities on the waterfront
that are attractive to residents and visitors alike.
In addition, despite all of the residential real estate here in the Ocean Forest neighborhood, NeighborhoodScout has discovered that much of it is vacant. In resort or second-home vacation areas, this naturally occurs because homes and apartments are seasonally occupied, and empty for a portion of the year. In non-vacation or resort areas, however, this can be an indicator of property abandonment or a weak real estate market. The vacancy rate here is 64.5%, which is higher than 99.5% of all U.S. neighborhoods.
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
In the Ocean Forest neighborhood, carpooling is still a popular
way to get to and from work. NeighborhoodScout's analysis reveals that
23.2% of commuters carpool here, which is more than in
96.8% of all U.S. neighborhoods.
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 complimentary 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
A neighborhood is far different if it is dominated by enlisted military personnel
rather than people who earn their living by farming. It is also different if
most of the neighbors are clerical support or managers. What is wonderful is
the shear diversity of neighborhoods, allowing you to find the type that fits
your lifestyle and aspirations.
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
Even if your neighborhood is walkable, you may still have to drive to your
place of work. Some neighborhoods are located where many can get to work in
just a few minutes, while others are located such that most residents have a
long and arduous commute.
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.