Rent to own Homes in Myrtle Beach, SC
Myrtle Beach is known for its balmy, sunshine-rich weather and fantastic views along the Atlantic shore. This lively city of just over 28,000 is located in Horry County, and it draws tourists from around the world for year-round nightlife and entertainment events. A former military base, Myrtle Beach now boasts a thriving town center with live theater shows, shopping, outdoor recreation and sumptuous dining opportunities.
Myrtle Beach, SC is a great place for affordable rent-to-own homes! With a median household income of over $43,378 and a median rent of $924, the Myrtle Beach, SC rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Myrtle Beach, SC. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Myrtle Beach, SC is seeing rapid growth and Myrtle Beach, SC's' housing market remains not optimal with an average home price that is 9% above the 2023 national average. Myrtle Beach, SC is part of Horry county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2023 for county Horry is 0.41% which is below the national average, which is 0.99%.
Median Home Price in Myrtle Beach, SC
Median Rent in Myrtle Beach, SC
Top 6 Reasons to Live in Myrtle Beach, SC
Long sandy beaches! Myrtle Beach is famous for its warm beaches. The Grand Strand, located along the eastern extremity of the city, hosts the Myrtle Beach Boardwalk. It witnesses an influx of visitors during peak season. Myrtle Beach State Park, encompassing one mile of stunning beach front, offers visitors camping, hiking, fishing and beach combing activities.
Thriving nightlife and entertainment! The city thrives on entertainment in both indoor and outdoor settings. The Carolina Opry, Pirates Voyage, Legends in Concert and Grand Strand Beach Social Dancers are just some entertainment venues around the city that cater to everyone. For a thrilling night out on the town, head over to the Crocodile Rocks or Pulse Night Club.
Low property taxes! With low property taxes and reasonable income taxes, Myrtle Beach is a popular destination for rental homes. Homeowners, with abodes valued around $137,500, pay an average of $690 in annual property tax in this city near the Carolina Bays Parkway. Lower taxes leave more available for shopping at The Market Common Myrtle Beach or Broadway at the Beach.
Annual festivals! Myrtle Beach knows how to keep locals and visitors coming back for more. From the annual March break extravaganza of Canadian-American Days to the end of year celebrations at the Dickens Christmas Show and Festival Week, this city loves its festivals. For a different twist, check out the Harley Ride for the Animals or Shuckin' on the Marsh.
Affordable rent! There are endless rental home options in Myrtle Beach. Apartments range from luxury-style units to traditional apartment complexes and independently owned apartment buildings. The average rent in the city is around $825 per month. If you'd prefer a more versatile lifestyle, consider a rent to own home instead in neighborhoods such as Pinelakes or Dunes Cove.
Sports, sports, sports! Myrtle Beach residents love to stay active throughout the year. From the Pawleys Island 5K/10K Turtle Strut and the Carolina Paddle Company to the Paradise Skate Center and golf clubs galore, exciting adventures are always part of the day in this invigorating city.