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Real Estate Prices & Overview

Ocean Forest Villas / Pan American Tower median real estate price is $493,741, which is more expensive than 87.7% of the neighborhoods in South Carolina and 71.1% of the neighborhoods in the U.S.

The average rental price in Ocean Forest Villas / Pan American Tower is currently $2,255, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 74.7% of the neighborhoods in South Carolina.

Ocean Forest Villas / Pan American Tower 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 Villas / Pan American Tower 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 Villas / Pan American Tower 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 Villas / Pan American Tower. The current real estate vacancy rate here is 58.1%. This is higher than the rate of vacancies in 99.2% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (39.5%). This can occur in 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. If you live here year round, 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.

Real Estate

Do you like a coastal setting? If so, this neighborhood may be to your liking. The Ocean Forest Villas / Pan American Tower 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 to being coastal, Ocean Forest Villas / Pan American Tower is a very nautical neighborhood, meaning that it is somewhat historic, walkable, densely populated and on the water. This gives the neighborhood a very nautical feel, with some seaside and shipping feel, which some may really enjoy the sights and sounds of.

In addition, despite all of the residential real estate here in the Ocean Forest Villas / Pan American Tower 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 58.1%, which is higher than 99.2% of all U.S. neighborhoods.

People

Of note is NeighborhoodScout's research finding that the Ocean Forest Villas / Pan American Tower neighborhood has some of the lowest rates of children living in poverty of any neighborhood in the United States. In a nation where approximately 1 in 4 children are living in poverty, the Ocean Forest Villas / Pan American Tower community truly stands out from the rest in this regard.

Diversity

Did you know that the Ocean Forest Villas / Pan American Tower neighborhood has more Scottish and Lithuanian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 11.1% of this neighborhood's residents have Scottish ancestry and 2.8% have Lithuanian ancestry.

Ocean Forest Villas / Pan American Tower is also pretty special linguistically. Significantly, 1.7% of its residents five years old and above primarily speak Native American languages at home. While this may seem like a small percentage, it is higher than 98.8% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Ocean Forest Villas / Pan American Tower 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 45.8% of the neighborhoods in America. In addition, 0.0% of the children seventeen and under living in this neighborhood are living below the federal poverty line, which is a lower rate of childhood poverty than is found in 100.0% of America's neighborhoods.

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 Villas / Pan American Tower neighborhood, 55.7% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 22.6% of the residents employed. Other residents here are employed in manufacturing and laborer occupations (11.6%), and 8.6% in clerical, assistant, and tech support occupations.

Languages

The most common language spoken in the Ocean Forest Villas / Pan American Tower neighborhood is English, spoken by 92.6% of households.

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 Villas / Pan American Tower neighborhood in Myrtle Beach, SC, residents most commonly identify their ethnicity or ancestry as English (12.8%). There are also a number of people of German ancestry (12.1%), and residents who report Scottish roots (11.1%), and some of the residents are also of Irish ancestry (7.7%), along with some Hungarian ancestry residents (4.7%), among others.

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 Villas / Pan American Tower neighborhood spend under 15 minutes commuting one-way to work (43.0% of working residents), one of the shortest commutes across America.

Here most residents (74.6%) 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 (10.3%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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