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Real Estate Prices & Overview

Ocean Forest Villas / Pan American Tower median real estate price is $536,109, which is more expensive than 88.9% of the neighborhoods in South Carolina and 72.4% of the neighborhoods in the U.S.

The average rental price in Ocean Forest Villas / Pan American Tower is currently $2,476, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 86.3% 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 53.2%. This is higher than the rate of vacancies in 98.9% of all U.S. neighborhoods. A relatively large percentage of housing here is seasonally occupied (34.1%). 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

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 get around.

Real Estate

Ocean Forest Villas / Pan American Tower 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 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 53.2%, which is higher than 98.9% 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 Lithuanian and Hungarian ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 2.7% of this neighborhood's residents have Lithuanian ancestry and 4.4% have Hungarian 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 58.1% 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.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Ocean Forest Villas / Pan American Tower neighborhood, 52.3% 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 24.7% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (12.4%), and 8.5% in manufacturing and laborer occupations.

Languages

The most common language spoken in the Ocean Forest Villas / Pan American Tower neighborhood is English, spoken by 95.8% 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 (11.5%). There are also a number of people of German ancestry (10.5%), and residents who report Irish roots (10.4%), and some of the residents are also of Scottish ancestry (6.2%), along with some Italian ancestry residents (5.6%), among others.

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 Villas / Pan American Tower neighborhood spend under 15 minutes commuting one-way to work (48.7% of working residents), one of the shortest commutes across America.

Here most residents (69.7%) 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 (13.0%) . 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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