Location: Myrtle Beach-North Myrtle Beach-Conway, SC | Metro: Myrtle Beach-North Myrtle Beach-Conway, SC HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $1,900 |
| 5 Bedrooms | $2,204 |
| 6 Bedrooms | $2,468 |
| 7 Bedrooms | $2,665 |
| 8 Bedrooms | $2,798 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,190 | $149,532 | 0.8% | D |
| 2BR | $1,420 | $222,493 | 0.64% | D |
| 3BR | $1,720 | $372,894 | 0.46% | F |
| 4BR | $1,900 | $511,441 | 0.37% | F |
| 5BR | $2,204 | $566,912 | 0.39% | F |
U.S. Census Bureau data (2024)
In Myrtle Beach, SC, specifically ZIP code 29577, the real estate landscape is currently characterized by a median home value of $277,512. This figure, coupled with the fact that only 0.2% of listings have seen price reductions, indicates a relatively stable market where sellers maintain significant pricing power. The median days on market (DOM) stands at 80 days, suggesting a moderate pace of sales activity. This combination of factors signals that for the next 12 to 24 months, the market will likely continue to favor sellers, particularly those with well-priced properties.
The rental market provides additional insight into the investment potential of this area. The Fair Market Rent (FMR) for ZIP 29577 in fiscal year 2024 is projected to be $1,310, while the current Zillow Observed Rental Index (ZORI) stands at $1,628. This gap suggests that there is room for rental rates to adjust downward towards the FMR, which could impact the short-term cash flow for landlords but also signals a market correction that might stabilize rental yields over time.
For long-hold investors, the setup implies a cautious approach to appreciation expectations. Given the stability in home values and the slight reduction in listings, it is reasonable to anticipate modest growth rather than rapid appreciation. However, the sustained interest in Myrtle Beach as a vacation destination and the potential for tourism-related investments to drive demand can offer a solid foundation for gradual property value increases. Long-term investors should focus on maintaining quality properties and aligning rental prices with the expected FMR adjustments to ensure steady returns.
The current market conditions in ZIP 29577 suggest a balanced approach to real estate investment, emphasizing the importance of strategic pricing and property management to leverage the inherent strengths of the local real estate market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.