North Myrtle Beach, SC
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating North Myrtle Beach Neighborhoods Since 2000




North Myrtle Beach, 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

North Myrtle Beach Housing Market Information

With a population of 15,579, 7,716 total housing units (homes and apartments), and a median house value of $275,521, North Myrtle Beach real estate is some of the most expensive in South Carolina, although North Myrtle Beach home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in North Myrtle Beach, accounting for 51.06% of the city's housing units. Other types of housing that are prevalent in North Myrtle Beach include single-family detached homes ( 31.10%), duplexes, homes converted to apartments or other small apartment buildings ( 7.20%), and a few row houses and other attached homes ( 6.12%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

Dwellings in North Myrtle Beach tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 49.99% of the homes in North Myrtle Beach have two or fewer bedrooms.

There is a lot of housing in North Myrtle Beach 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 North Myrtle Beach built between 2000 and later ( 39.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 8.74%).

A decent proportion of the North Myrtle Beach housing stock is seasonally occupied. That is, homes and condos in North Myrtle Beach are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the North Myrtle Beach housing market speaks to its popularity as a vacation location of choice.

North Myrtle Beach Home Appreciation Rates

Homes have actually lost value in North Myrtle Beach over the last then years, as home values have seen a decline of 20.73% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows North Myrtle Beach home appreciation rates at 1.32%, which equates to an annual appreciation rate of 5.39%.

NeighborhoodScout's data show that during the latest twelve months, North Myrtle Beach's appreciation rate, at 3.64%, has been at or slightly above the national average. In the latest quarter, North Myrtle Beach's appreciation rate has been 1.32%, which annualizes to a rate of 5.39%.

Relative to South Carolina, our data show that North Myrtle Beach's latest annual appreciation rate is higher than 50% 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 city. Individual neighborhoods within North Myrtle Beach differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in North Myrtle Beach - 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 North Myrtle Beach real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$275,521

North Myrtle Beach, SC HOME PRICES

Value Range
> $1,121,000 1.2
$841,001 - $1,121,000 2.3
$561,001 - $841,000 6.9
$448,001 - $561,000 6.6
$336,001 - $448,000 17.2
$224,001 - $336,000 26.5
$112,001 - $224,000 24.8
$56,001 - $112,000 7.0
$0 - $56,000 7.4

Very High for SC
Very High for Nation

Value Relative to Nation Value Relative to State
18.9323801711004 7.43494423791822

Number Of Homes And Apartments:
7,716

North Myrtle Beach 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
59.64% 2.75% 10 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,128 / per month

Homeownership Rate

Homeownership
Owners 68.39
Renters 31.61
Vacant 72.61

Housing Market Details

 

Age of Homes

AGE OF North Myrtle Beach HOMES
2000 or Newer 39.2
1970 - 1999 51.9
1940 - 1969 8.7
1939 or Older 0.1

Types of Homes

TYPE OF North Myrtle Beach HOMES
Single-Family 31.1
Townhomes 6.1
Small Apt. Buildings 7.2
Apt. Complexes 51.1
Mobile Homes 4.4
Other 0.1

Home Size

SIZE OF North Myrtle Beach HOMES
No Bedroom 2.66
1 Bedroom 9.32
2 Bedrooms 38.02
3 Bedrooms 35.53
4 Bedrooms 11.02
5 or more bedrooms 3.46