Myrtle Beach Rental Prices: Trends That Could Save You Money
- 01. Inside Myrtle Beach Rents: What 2024-2026 Prices Tell Us
- 02. How Myrtle Beach rents have evolved (2024-2026)
- 03. Key trends shaping Myrtle Beach rental markets
- 04. Myrtle Beach rental price tables (illustrative)
- 05. Neighborhood-level Myrtle Beach rental differences
- 06. Drivers of Myrtle Beach rental price changes
- 07. What renters should know about 2024-2026 Myrtle Beach rents
- 08. Investor perspective on Myrtle Beach rental trends
- 09. Forecasting Myrtle Beach rental prices into 2026 and beyond
- 10. Frequently asked questions
Inside Myrtle Beach Rents: What 2024-2026 Prices Tell Us
Long-term Myrtle Beach rental prices have shifted from a fast-rising market in 2023-early 2024 into a softer, more seasonal pattern by 2025-2026, with average rents hovering around the mid-$1,300s for a one-bed and dipping slightly below the prior peak. Month-to-month averages show that while demand for coastal living remains strong, new supply and shifting tourist-driven demand have put downward pressure on some segments, especially in more suburban Myrtle Beach neighborhoods.
How Myrtle Beach rents have evolved (2024-2026)
Between April 2024 and May 2025, the published average 1-bedroom rent in Myrtle Beach fluctuated between roughly $1,100 and $1,350, with a noticeable dip in late 2024 before moderate recovery early in 2025. By May 2026, major portals list the city-wide average rent at about $1,367 per month, slightly below the U.S. national average but still up meaningfully from the $1,000-$1,100 range seen in 2021-2022.
Supporting statistics suggest that the short-term rental segment has experienced even more volatility, with average daily rates spiking in 2023-2024 summer seasons and then easing in 2025 as new inventory arrived and competition tightened. This double-tracked pattern-rising demand plus rising supply-helps explain why headline Myrtle Beach rental prices have stabilized instead of continuing their 2023-style surge.
Key trends shaping Myrtle Beach rental markets
- Post-2020 rent growth slowed in 2024-2025, with some 1-bedroom apartments returning to sub-$1,000 averages in winter months, a rare relief for renters in a historically tight coastal market.
- New multifamily and condo conversions have added supply, particularly in inland and suburban Myrtle Beach neighborhoods such as Carolina Forest and Arcadian Shores, which can now offer relatively lower rents than the beachfront core.
- Seasonal demand for vacation rentals continues to push up summer weekly rates, but many owners now offer longer off-season discounts, creating a "bump-and-dip" pattern within the same calendar year.
- By May 2026, total average rent in Myrtle Beach is down about 17% versus the national average, highlighting that the city remains relatively affordable compared with larger coastal metros despite its beach-location premium.
Myrtle Beach rental price tables (illustrative)
The table below illustrates how Myrtle Beach rental prices have evolved by unit type and timeframe, using a blend of real-market averages and smoothed estimates to show 2024-2026 trends.
| Unit type | Apr 2024 avg | Dec 2024 avg | Mar 2025 avg | May 2026 avg |
|---|---|---|---|---|
| Studio | $1,220 | $1,118 | $1,257 | $1,367 |
| 1-bedroom | $1,235 | $1,350 | $1,367 | $1,367 |
| 2-bedroom | $1,574 | $1,627 | $1,627 | $1,574 (seasonal range) |
| 3-bedroom home | $1,841 | $1,735 | $1,750 | $1,841 |
This illustration reflects a real pattern: long-term lease rents climbed through 2024, eased slightly in late 2024 and early 2025, then stabilized around $1,367 by spring 2026, even as the national average kept rising. In contrast, short-term rental averages often run 15-30% higher in peak months, creating a dual-price environment within the same zip code.
Neighborhood-level Myrtle Beach rental differences
Not all parts of Myrtle Beach show the same trajectory; certain neighborhoods have seen sharper price declines or smaller gains than the citywide average. For example, some inland communities like Carolina Forest and Arcadian Shores report double-digit percentage drops in 1-bed and 2-bed asking rents year-over-year, reflecting oversupply and softer demand versus the beachfront.
Conversely, walkable, beach-adjacent areas such as South Myrtle Beach and parts of the central boardwalk corridor maintain higher rental premiums, with 2-bed units frequently listed above the $1,800-$2,000 range in peak months. These neighborhood-level divergences mean that choosing the right Myrtle Beach neighborhood can save (or cost) hundreds per month, even across distances of just a few miles.
Drivers of Myrtle Beach rental price changes
- Tourism and seasonal demand: The city's reliance on tourism continues to push up summer vacation rental rates, especially on weekends and holidays, while slower winter months see more discounts and longer-term leases.
- Supply growth: New multifamily projects and condo conversions have added several thousand units since 2021, particularly in suburban Myrtle Beach neighborhoods, which helps cap dramatic rent spikes.
- Remote-work exodus: Some buyers and renters shifted away from pricier coastal metros toward affordable coastal cities such as Myrtle Beach after 2020, initially fueling demand before the market cooled.
- Cost-of-living pressure: Rising insurance, property taxes, and mortgage rates have forced some landlords to juggle affordability with profitability, sometimes choosing to lengthen lease terms or offer concessions instead of aggressive hikes.
Industry analysts note that while the pace of rent growth has decelerated, the fundamental Myrtle Beach rental market remains supply-constrained relative to long-term demand, especially near the beach. This underlying tension suggests that significant price drops are unlikely unless a major economic shock or sustained oversupply emerges.
What renters should know about 2024-2026 Myrtle Beach rents
For anyone considering a Myrtle Beach rental today, the key takeaway is timing and location. Signing a long-term lease in the winter or early spring can yield noticeably lower rates than renewing in June or July, when short-term demand spikes. Similarly, choosing a more suburban Myrtle Beach neighborhood such as Carolina Forest or Arrowhead can cut monthly costs by 20-30% versus an ocean-view unit, while still keeping the beach within a short drive.
Late-2024 data also showed that average 1-bedroom rents in Myrtle Beach briefly dipped below $1,000, a milestone that many locals had not seen since before 2022. Although those sub-$1,000 figures have not persisted across all neighborhoods, they signal that the market is no longer on a one-way upward trajectory and that renters now have more negotiating room than during the 2021-2023 boom.
Investor perspective on Myrtle Beach rental trends
From an investment standpoint, the 2024-2026 period reveals a market that is maturing rather than stagnating. Cap rates on well-located Myrtle Beach rentals have edged up as new supply enters the pipeline, but strong tourism and coastal demand keep underlying values relatively resilient. Many operators now focus on blended strategies-mixing long-term leases with short-term blocks-to smooth cash flow and capture both local and seasonal demand.
Some property managers report that occupancy for purpose-built apartment communities has tightened even as operators cut asking rents, suggesting that households are trading space for price in a still-competitive environment. This "occupancy-first" approach indicates that landlords expect stable, rather than explosive, rent growth through 2026.
Forecasting Myrtle Beach rental prices into 2026 and beyond
Looking ahead, market watchers expect Myrtle Beach rental prices to rise modestly in 2026, likely in the 1-3% range for long-term leases, once seasonality and short-term spikes are smoothed out. Continued new construction and potential softening in tourism-driven demand could limit steeper increases, but the city's coastal appeal and relatively low cost versus larger beach markets should prevent any sustained price collapse.
For both renters and owners, this points to a "bump-and-plateau" pattern: periodic surges around peak seasons, but little departure from the mid-$1,300s average for typical 1-bed units in the core Myrtle Beach rental market. Savvy actors will increasingly differentiate between beachfront versus inland, long-term versus short-term, and winter versus summer pricing to extract the most value from the 2024-2026 cycle.
Moreover, different platforms report slightly different averages based on how they weight Myrtle Beach neighborhoods and unit types. That is why prospective renters should treat the average as a benchmark, not a ceiling or floor, and always cross-check it against specific zip codes and property types.
Frequently asked questions
Expert answers to Myrtle Beach Rental Prices Trends queries
What does "average rent" really mean in Myrtle Beach?
The widely cited "average Myrtle Beach rental" figure of about $1,367 per month in 2026 masks wide variation by unit type, age, and location. A studio in a newer complex may rent near that average, while a 3-bed townhouse near the Grand Strand can easily exceed $1,800, and a luxury condo with ocean views can command $3,000 or more in peak months.
What is the average rent in Myrtle Beach right now?
As of May 2026, the average Myrtle Beach rental price sits around $1,367 per month, which is roughly 17% below the national average rent of about $1,642. This figure covers studios and one-bed units; two-bed and three-bed homes typically start in the $1,500-$1,800+ range depending on location.
Have Myrtle Beach rents gone up or down since 2024?
Since mid-2024, Myrtle Beach rental prices first rose into $1,300-$1,400 ranges for 1-bed units, then dipped slightly in late 2024 before leveling off around $1,367 by spring 2026. Year-over-year, the average has increased only about 0.1% recently, signaling a flattening trend versus the sharper hikes seen in 2021-2023.
Which Myrtle Beach neighborhoods are cheapest to rent in?
Among the more affordable Myrtle Beach neighborhoods, communities such as Carolina Forest and some inland areas often report lower 1-bed and 2-bed averages than the beachfront core. Recent data shows marked declines in some of these zones, with some 1-bed units dropping double-digit percentages year-over-year, making them attractive for budget-conscious renters.
Are short-term rentals more expensive than long-term leases in Myrtle Beach?
Yes, short-term rentals in Myrtle Beach typically run 15-30% higher in peak months than comparable long-term leases, especially for ocean-view condos and beach-proximate homes. Operators often discount these rates off-season, but on summer weekends rates can double or triple the long-term monthly equivalent, creating a distinct pricing split.
Is Myrtle Beach still considered an affordable rental market compared with other beach cities?
Yes, on a national comparison, Myrtle Beach rental prices remain below the U.S. average and are much lower than coastal metros such as Miami, San Diego, or Boston. When adjusted for beach-location premiums, the city offers relatively affordable coastal living, though 2021-2024 price spikes have narrowed that gap somewhat.