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Myrtle Beach-Conway-North Myrtle Beach, SC-NC housing market
Housing market indicators
| Indicator | 2022 | 2023 | 2024 | 2025* | Change | 2022 | 2023 | 2024 | YTD |
|---|---|---|---|---|---|---|---|---|---|
| Median Listing Price per Square Feet | $216 | $232 | $226 | $229 | 6.9% | 7.4% | -2.6% | 1.3% | |
| Active Listing Count | 3,441 | 3,961 | 5,232 | 5,734 | 146.3% | 15.1% | 32.1% | 9.6% | |
| Median Days on Market | 68 | 66 | 83 | 77 | 25.9% | -2.9% | 25.8% | -7.2% | |
| Share of listings with price increase | 3% | 2.3% | 2.1% | 1.9% | |||||
| Share of listings with price decrease | 12.2% | 18% | 20.3% | 21.6% | |||||
| Employees, thousands | 146 | 150 | 153 | 166 | 6% | 2.7% | 1.9% | 9.1% | |
| Permits | 624 | 971 | 493 | 592 | 1.8% | 55.6% | -49.2% | 20.1% | |
* last available value
Home prices
Short term housing supply drivers
Long term housing demand drivers
Long term housing supply drivers
Note: 12M MA - 12 months moving average, Permits - New Private Housing Structures Authorized by Building Permits. Source: FRED
Housing market overview
Cities/Towns Included in Myrtle Beach-Conway-North Myrtle Beach, SC-NC MSA
| Area | City/town | Population | Density | Income (high/low/...) | Quality of Schools (GreatSchools rating range) | Crime level | Property tax (%) | Comments |
|---|---|---|---|---|---|---|---|---|
| Horry County | Myrtle Beach | 39,697 (2023 est.) | High urban | Medium | 5-8 | Medium-high | 0.5-0.6% | Tourist hub, beachfront properties drive density |
| Horry County | Conway | 27,985 (2023 est.) | Medium | Low-medium | 4-7 | Medium | 0.5% | Inland, growing residential, home to Coastal Carolina University |
| Horry County | North Myrtle Beach | 20,303 (2023 est.) | High | High | 6-9 | Low-medium | 0.5-0.6% | Upscale beach area, family-oriented |
| Horry County | Surfside Beach | 4,321 (2023 est.) | Medium-high | Medium-high | 5-8 | Low | 0.53% | Quiet beach town, retiree appeal |
| Brunswick County, NC | Leland | 30,542 (2023 est.) | Medium | Medium-high | 6-9 | Low | 0.6-0.7% | Fast-growing suburb near Wilmington |
| Brunswick County, NC | Oak Island | 9,480 (2023 est.) | Medium | High | 7-9 | Very low | 0.65% | Barrier island, vacation homes dominant |
| Georgetown County | Georgetown | 8,714 (2023 est.) | Low-medium | Low | 3-6 | Medium-high | 0.55% | Historic port town, industrial base |
To view all table columns, please open this table on a laptop or desktop screen.
Citizens: Income and Education
- Median household income in MSA around $55,000-$65,000, higher in beachfront areas like North Myrtle Beach at $70,000+.
- Per capita income lower in Horry County core ($35,000) vs. Brunswick NC areas ($45,000+).
- 20%+ households below poverty line, concentrated in Conway and Georgetown.
- Bachelor's degree attainment 25-30%, below national average; higher in Leland (35%).
- High school completion 90%, workforce skewed toward service jobs requiring less education.
- Retiree influx boosts older demographic with higher savings, lower education needs.
- Recent migrants from Northeast bring higher incomes, pushing median up 10% since 2020.
Key Economic Sectors
- Tourism dominates with 50%+ employment; hotels, restaurants, golf courses year-round.
- Retail and hospitality peak seasonally, supporting 100,000+ jobs in peak summer.
- Healthcare growing rapidly, major hospitals in Conway and Myrtle Beach employ 20,000.
- Construction booming due to population growth, 15% workforce share.
- Education via Coastal Carolina University and Horry-Georgetown Technical College.
- Manufacturing minor in Georgetown County, timber and steel products.
- Real estate services expanding with housing demand.
Housing Buying Market: Supply Drivers
- Zoning relatively open in Horry County, fast-track permits for multifamily near beaches.
- Regulatory strictness low inland Conway, but coastal building codes high due to hurricanes.
- Construction workforce costs moderate, labor shortage drives 10-15% annual wage hikes.
- Land availability good inland, scarce beachfront limits single-family supply.
- New builds focus on condos and townhomes, 5,000+ units permitted yearly.
- Impact fees rising in NC portions, slowing suburban expansion in Leland.
- Material costs volatile post-hurricanes, delays projects 6-12 months.
Housing Buying Market: Demand Drivers
- Net migration +3.8% yearly, retirees from Midwest/Northeast fuel 60% demand.
- Tourism growth adds seasonal-to-permanent conversions, boosting North Myrtle Beach.
- Remote work influx post-2020, +20% households from high-cost states.
- Healthcare sector expansion draws young professionals to Conway area.
- Declining outflows to urban SC, net gain 15,000 residents 2022-2024.
- Golf/resort communities attract high-income buyers, inventory sells in <30 days.
- NC side sees spillover from Wilmington boom, Leland demand up 33% population.
Key Challenges on the Housing Market
- Inventory shortage, 2-3 months supply vs. balanced 6 months.
- Affordability crisis, median home $350,000-$450,000, prices up 40% since 2020.
- Hurricane risk elevates insurance 20-50%, flood zones limit financing.
- Seasonal vacancy 30% in tourist areas depresses year-round rents.
- Workforce housing deficit, low-wage service workers commute long distances.
- Water/sewer infrastructure lags growth, moratoriums in parts of Horry County.
- Rising interest rates cool speculative buys, but cash retirees sustain demand.
Investment Potential Differences Between Geographic Areas/Regions
| Area | Appreciation potential | Risk | Key drivers |
|---|---|---|---|
| North Myrtle Beach | High | Medium | Upscale demand, low crime, family migration |
| Leland, NC | High | Low-medium | 33% pop growth, proximity to Wilmington jobs |
| Conway | Medium-high | Medium | University expansion, affordable inland entry |
| Myrtle Beach core | Medium | High | Tourist saturation, high crime/insurance |
| Georgetown | Low-medium | High | Industrial decline, low incomes |
| Surfside/Oak Island | Medium | Medium-high | Retiree appeal offset by flood risks |
Overall Market Analysis
- MSA population hit 413,391 by 2024, up 17% from 2020, driven by coastal appeal.
- Housing prices averaged 12-15% annual gains 2021-2024, stabilizing at 5-7% projected 2025.
- Rental yields strong at 6-8% in multifamily, lower 4% beachfront.
- Beachfront regions command premiums, inland Conway offers value plays.
- Climate resilience investments key, federal flood maps updated raise costs.
- Short-term rentals regulated tighter, shifting to long-term demand.
- Future growth tied to infrastructure, airport expansions boost accessibility.
- Balanced portfolio favors North Myrtle/Leland for appreciation, Conway for yield.
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