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.
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 2022 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 2022 for county Horry is 0.41% which is below the national average, which is 0.99%.
Myrtle Beach, SC has a walk score of
Myrtle Beach, SC has a bike score of
The state tax rate is 0.0 to 7.0% on top of the federal tax rate of 10 to 37%.