Murrells Inlet, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Murrells Inlet, SC Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Murrells Inlet Housing Market Information

With a population of 7,660, 3,733 total housing units (homes and apartments), and a median house value of $308,135, Murrells Inlet real estate is some of the most expensive in South Carolina, although Murrells Inlet home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Murrells Inlet, accounting for 52.33% of the town's housing units. Other types of housing that are prevalent in Murrells Inlet include mobile homes or trailers ( 20.61%), large apartment complexes or high rise apartments ( 18.25%), and a few row houses and other attached homes ( 5.43%).

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 78.12% of Murrells Inlet's homes, and 72.56% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Murrells Inlet built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Murrells Inlet built between 2000 and later ( 36.09%). A lesser amount of the housing stock also hails from between 1940-1969 ( 3.89%).

Vacant housing appears to be an issue in Murrells Inlet. Fully 25.24% 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

Homes have actually lost value in Murrells Inlet over the last then years, as home values have seen a decline of 20.19% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Murrells Inlet home appreciation rates at 1.10%, which equates to an annual appreciation rate of 4.47%.

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 79.66% 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 1.10%, which equates to an annual appreciation rate of 4.47%.

Relative to South Carolina, our data show that Murrells Inlet's latest annual appreciation rate is higher than 70% 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:
$308,135

Murrells Inlet, SC HOME PRICES

Value Range
> $1,171,000 3.9
$878,001 - $1,171,000 3.4
$586,001 - $878,000 6.1
$468,001 - $586,000 8.7
$351,001 - $468,000 17.5
$234,001 - $351,000 18.4
$117,001 - $234,000 16.2
$58,001 - $117,000 11.0
$0 - $58,000 14.7

Very High for SC
Very High for Nation

Value Relative to Nation Value Relative to State
15.6392827844838 5.20446096654275

Number Of Homes And Apartments:
3,733

Murrells Inlet Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SC*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
25.25% 1.31% 4 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,438 / per month

Homeownership Rate

Homeownership
Owners 78.12
Renters 21.88
Vacant 25.24

Housing Market Details

 

Age of Homes

AGE OF Murrells Inlet HOMES
2000 or Newer 36.1
1970 - 1999 59.5
1940 - 1969 3.9
1939 or Older 0.5

Types of Homes

TYPE OF Murrells Inlet HOMES
Single-Family 52.3
Townhomes 5.4
Small Apt. Buildings 3.4
Apt. Complexes 18.2
Mobile Homes 20.6
Other 0.0

Home Size

SIZE OF Murrells Inlet HOMES
No Bedroom 1.54
1 Bedroom 1.96
2 Bedrooms 20.87
3 Bedrooms 56.52
4 Bedrooms 16.04
5 or more bedrooms 3.06