3571 Golf Avenue

Myrtle Beach's Shadow: The Hidden Story Behind Horry County's Booming Market

Horry County is one of the most misunderstood real estate markets on the East Coast. To outsiders, it's synonymous with Myrtle Beach — golf courses, beach rentals, and retirees in golf carts. That image isn't wrong, but it obscures a more complicated story: a county experiencing genuine population pressure, rising affordability strain, and a housing stock built almost entirely for visitors rather than the people who actually live and work here.

The median home price of $280,000 looks attractive at face value — roughly 12% below the national benchmark. But that number requires serious context. The county's median household income of $64,623 trails the national figure by nearly $11,000, and the resulting price-to-income ratio still stretches local budgets. Meanwhile, the 29% vacancy rate — one of the highest of any county in America — tells you that a substantial portion of the 211,686 housing units are vacation properties and short-term rentals, not homes. When you strip those out, the effective supply available to permanent residents tightens considerably.

A Retirement Destination With a Young Family Problem

The median age of 48.2 years and a 65-plus population of 25.7% — more than double the share of residents under 18 — mark Horry County as one of South Carolina's most age-skewed counties. The Grand Strand has long drawn retirees from the Northeast and Midwest seeking low taxes, warm winters, and affordable coastal living. That migration wave continues, and it shapes everything from school enrollment rates to labor dynamics.

But behind the retirement narrative is a child poverty rate of 19.4% — significantly above the overall poverty rate of 12.8% — suggesting that families with children are faring far worse than the aggregate numbers imply. The tourism-dependent economy generates employment, but much of it is seasonal, low-wage, and benefits-poor. The 12.4% uninsured rate and a disability rate of 18.1% underscore the health-economic vulnerability of a workforce built around hospitality.

Key Statistics

Stat	Value	Context
Vacancy Rate	29.0%	Among highest in U.S. — driven by vacation/STR inventory
Severe Rent Burden	23.5%	Nearly 1 in 4 renters paying >50% of income on housing
Population 65+	25.7%	More than double the under-18 share of 17.2%
YoY Price Change	+3.6%	Steady appreciation despite national cooling

The Renter Squeeze Nobody Talks About

With only 24.2% of households renting, Horry looks like a homeowner's county — and the 75.8% homeownership rate is genuinely strong. But the renters who remain face brutal conditions. A median rent of $1,181 against a median income that skews heavily toward retirees and service workers produces a rent burden ratio of 46.4% — well above the 30% threshold considered affordable. Nearly a quarter of renters are severely burdened, spending more than half their income on rent. In a market flooded with vacation inventory, working-class renters effectively compete with Airbnb hosts for every livable unit.

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FAQs

What makes Horry County unique in South Carolina's real estate market? No other South Carolina county combines a coastal tourism economy, mass retirement in-migration, and near-30% housing vacancy at this scale. The result is a market where headline prices look moderate but affordability for working residents — especially renters and families — is under genuine stress. The average sale price of $366,845 versus the median of $280,000 also reveals a long tail of luxury and waterfront properties pulling the average up sharply.

Is Myrtle Beach / Horry County still affordable for full-time residents? Increasingly, the answer is "it depends on whether you own or rent, and when you bought." Long-term homeowners have built equity as prices have risen 3.6% year-over-year even as national markets cooled. But first-time buyers and renters face a market distorted by vacation demand, while wages in the hospitality-heavy local economy haven't kept pace with even modest appreciation.

Why is Horry County's labor force participation rate so low? At 54.1%, it sits noticeably below the national average — but this is largely a demographic feature, not an economic failure. When more than a quarter of your population is 65 or older and has retired to the beach, a lower participation rate is structurally expected. The real concern is what the seasonal, service-sector job market offers the working-age residents who do participate.