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South Carolina market guide
DSCR loans in Conway, SC
Rental financing for Conway investors, qualified on the property's rent.
For Conway, SC rentals, the DSCR test compares rent to the full payment. The Census medians that frame it are $866 rent, $260,900 value and $1,024 in yearly taxes.
Local data for Conway investors
A DSCR lender in Conway is comparing a rent against a payment, and the citywide benchmarks are a median gross rent of $866 and a median home value of $260,900. The rent figure is well below the South Carolina median of $1,180. Put the two medians together and Conway shows a gross yield of 4.0%, a thin gross ratio, which tells you purchase prices are high relative to rent. Because the rent number covers apartments as well as houses, expect single-family rentals to land above or below it.
| Indicator | South Carolina | Conway | Difference |
|---|---|---|---|
| Persons per household | 2.44 | 2.52 | |
| Share in 2-4 unit buildings | 4.5% | 7.8% | +73% |
| Share of homes detached | 64.5% | 73.9% | +15% |
| Long commuters, 45 min plus | 14.7% | 10.4% | -30% |
| Degree holders, age 25+ | 32.1% | 19.6% | -39% |
| Workers on their own account | 9.9% | 9.6% | -3% |
| Renters paying 30%+ of income | 52.1% | 52.1% | +0% |
| Units sitting vacant | 13.3% | 8.5% | -36% |
| Typical construction year | 1992 | 2001 | |
| Annual rent divided by value | 5.5% | 4.0% | -27% |
| Households that rent | 28.1% | 34.6% | +23% |
| Household income, median | $69,324 | $56,650 | -18% |
| Typical owner-occupied value | $259,000 | $260,900 | +1% |
| Typical monthly rent | $1,180 | $866 | -27% |
| Residents (Census estimate) | 5,296,225 | 27,263 |
Renters make up 34.6% of households in Conway (about 23% above the South Carolina median of 28%), so rental demand is real but not overwhelming. Household income runs a median $56,650 (about 18% below the South Carolina median of $69,324), while 52% of renters spend 30 percent or more of income on housing.
Housing stock and vacancy in Conway
Single-family detached housing accounts for 74% of the units counted in Conway, so expect house-style comparables in most appraisals. With a median build year of 2001, newer houses and townhomes set the tone, and homeowner association rules matter more than deferred maintenance.
Vacancy is a quiet driver of rent. 8% of homes are vacant citywide and 4.5% of the rental inventory was listed for rent when the Census surveyed.
What the data means for Conway buyers
A 4.0% gross ratio leaves little margin in Conway. Every dollar of insurance, tax and association dues matters, and some deals work only with lower leverage. Newer housing keeps maintenance predictable, which is helpful for out-of-town owners. Renters are 35% of households, which gives investors a real tenant base to market to.
Insurance, tax and flood context for Conway
The Census reports median real estate taxes paid of $1,024 in Conway, about 18% below the South Carolina median of $1,251. Against the median value that is an effective rate of roughly 0.39%, compared with 0.48% for South Carolina as a whole. Set beside the median rent, the tax alone consumes about 10% of annual rent.
The federal National Risk Index scores Horry County relatively high for overall risk, led by hurricanes (very high), tornadoes (relatively high) and lightning (relatively high). That is a county-level view, so check the flood map for the exact parcel.
| Hazard in Horry County, FEMA index | Level |
|---|---|
| Winter weather exposure | Relatively High |
| Lightning exposure | Relatively High |
| Tornadoes exposure | Relatively High |
| Hurricanes exposure | Very High |
| Social vulnerability score | Relatively High |
| Annualized loss estimate | Relatively High |
| Composite risk | Relatively High |
A Conway landlord policy is priced on roof, age, wiring and location, and the annual premium divided by twelve lands in the payment the lender tests.
What the Conway medians allow
The quick test for Conway: rent of $866 divided by a 1.25 ratio allows a total payment of $693, and subtracting $85 in monthly taxes leaves $607 for the loan, insurance and dues. At 1.00 the allowance is the full $781.
Rules a Conway landlord should check
Before you underwrite a Conway rental, confirm with city hall and Horry County whether landlords must register, pass an inspection or hold a permit, especially for stays under 30 days, because those rules can change what income a lender will count. For Conway short-term hosts, one state-level point stands out. Code 12-36-920, and counties and cities may add a local accommodations tax that they collect themselves.
South Carolina limits what a Conway owner may hold as a deposit: No cap on the amount in the Residential Landlord and Tenant Act. The statute is S.C. Code Ann. § 27-40-410. After move-out, the Conway owner has 30 days to return the deposit or account for deductions. A landlord who wants a Conway month-to-month tenant out must give 30 days' written notice before the termination date (7 days for week-to-week) of notice.
Comparing Conway with surrounding markets
Of the cities listed, Myrtle Beach is the most expensive ($388,800 median value) and Florence the least ($211,400); Conway sits at $260,900.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Florence | 42% | $860 | $211,400 | 40,408 | $992 |
| Myrtle Beach | 39% | $1,209 | $388,800 | 38,371 | $1,261 |
| Conway | 35% | $1,024 | $260,900 | 27,263 | $866 |
The renter base in Conway
Self-employment accounts for 9.6% of Conway's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. Three more data points: government workers are about 17% of employment, 20% of adults hold a bachelor's degree or higher and 10% of commuters travel 45 minutes or more.
Campuses such as Coastal Carolina University, Horry-Georgetown Technical College and North American Institute of Aviation pull tenants into Conway, and landlords near them can plan around move-in seasons. Access runs through air service through Conway-Horry County Airport and Airport, which shapes where commuters want to live and how long a showing takes.
Next steps for a Conway purchase
A good Conway file has four pieces: rent evidence, a tax estimate, an insurance quote and cash. Preview the ratio in the calculator, then apply or talk to us.
More South Carolina markets
- All South Carolina DSCR loans
- DSCR loans in Myrtle Beach, SC
- DSCR loans in Florence, SC
- Every market we cover
Where we checked
- 2020 to 2024 ACS data used for Conway
- Federal hazard index, SC
- Wikipedia article, Conway, South Carolina
- Conway landlords: see S.C. Code Ann. § 27-40-410
- SCDOR accommodations tax (South Carolina)
- S.C. Code 12-36-920
Conway's figures are ACS estimates covering 2020 to 2024 and are not exact counts. South Carolina landlord-tenant summaries draw on the RedFlagLease dataset (CC BY 4.0) and the statutes linked above. Verified October 2026. Ordinances and statutes change, so confirm before acting.
A short buyer checklist
For a Conway rental, request the current lease, the last tax bill and the insurance declarations page early, and confirm which utilities the tenant pays, because each one changes the monthly figure a lender compares with the rent.
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Frequently asked questions
Lease or market rent: what counts in Conway?
Underwriters take the lease if one exists and compare it with the appraisal's rent estimate; the lower figure often governs. Conway median rent is $866.
What payment can a Conway rent support?
Taxes, insurance and dues are inside the payment the lender tests. Run $866 through a 1.25 ratio and the ceiling is about $693; subtract $85 for median taxes and $607 remains.
What tax bill should I expect on a Conway rental?
The Census reports a median of $1,024 a year for Conway owners, about 0.39% of median value against 0.48% for South Carolina. The county reassesses after a sale, so ask the tax office for an estimate on your purchase price.
Can nightly stays at a Conway property support a DSCR file?
Often, with conditions: legal use under city and association rules, documented income and an insurance policy that covers guests. Conway owners should check all three first.
What does South Carolina law say about deposits at a Conway rental?
The cap is stated as follows: No cap on the amount in the Residential Landlord and Tenant Act. A landlord has 30 days to return the deposit. Both come from S.C. Code Ann. § 27-40-410.
What hazard risk does Conway carry for investors?
Overall risk is rated relatively high for the county. Because the rating covers a whole county, look up the specific property on FEMA's flood map before you offer.
How do LLC closings work for Conway rentals?
Not required. An LLC borrower is routine for investor programs, with entity paperwork and a guaranty. Form the company before you go under contract in Conway.