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South Carolina market guide
DSCR loans in Myrtle Beach, SC
DSCR loans for condos, cottages and long-term rentals along the Grand Strand.
Myrtle Beach is a visitor economy with a large stock of condos and beach homes, a retiree population and a growing year-round community. A DSCR loan qualifies a rental on its income, but on the coast the association, the insurance and the local rules need as much attention as the rent.
The Myrtle Beach rental picture
Horry County's growth has added year-round residents who rent, alongside the seasonal visitors that built the market. Condo buildings along the ocean are numerous, and their associations vary widely in financial strength and in rental policy.
Before you buy, request the association budget, reserve study and rental rules. A building with healthy reserves and a clear rental policy is a better foundation than a lower price in a troubled building. If you plan nightly stays, confirm what the building and the local government allow.
Where Myrtle Beach investors look
Resort-style buildings where dues and rental rules are crucial.
Beach cottages and smaller condo communities with a quieter feel.
Inland suburbs and a college town with year-round renters.
Beach and golf communities near the state line with a mix of resident and visitor demand.
Details to check before you offer
Reserves, special assessments and rules can decide whether a loan is possible.
Coastal premiums can be large. Quote them early.
Nightly rentals bring local requirements. Confirm what applies.
Investor angle
A cautious Myrtle Beach investor leads with the building. Strong associations, realistic long-term rent and a documented plan for any nightly income give the file the best chance of a smooth approval.
Run it, then apply
Enter the actual rent, tax, insurance and dues in the calculator, review the requirements and read about the first-time investor programs if this is your first rental. When you are ready, apply now or get a DSCR quote.
More Carolina markets
- All South Carolina DSCR loans
- DSCR loans in Wilmington, NC
- DSCR loans in Charleston, SC
- DSCR loans in Columbia, SC
- All states
DSCR loan availability varies by property and lender program and is not an offer to lend. See our disclosures.
Myrtle Beach rents, values and tenants
For Myrtle Beach, the latest five-year ACS shows a median gross rent of $1,261 (close to the South Carolina median of $1,180) and a median owner-occupied value of $388,800 (well above the South Carolina median of $259,000). Put the two medians together and Myrtle Beach shows a gross yield of 3.9%, a lean ratio that leaves little room for taxes, insurance and dues. Because the rent number covers apartments as well as houses, expect single-family rentals to land above or below it.
| Indicator | South Carolina | Myrtle Beach | Difference |
|---|---|---|---|
| Annual property tax bill, median | $1,251 | $1,209 | -3% |
| Household income, median | $69,324 | $60,394 | -13% |
| Typical owner-occupied value | $259,000 | $388,800 | +50% |
| Typical monthly rent | $1,180 | $1,261 | +7% |
| Persons per household | 2.44 | 2.17 | |
| Share of homes detached | 64.5% | 38.3% | -41% |
| Long commuters, 45 min plus | 14.7% | 5.2% | -65% |
| Workers on their own account | 9.9% | 13.7% | +38% |
| Renters paying 30%+ of income | 52.1% | 59.4% | +14% |
| Units sitting vacant | 13.3% | 27.8% | +109% |
| Typical construction year | 1992 | 1994 | |
| Annual rent divided by value | 5.5% | 3.9% | -29% |
| Households that rent | 28.1% | 39.5% | +40% |
| Tax as a share of home value | 0.48% | 0.31% | -36% |
| Residents (Census estimate) | 5,296,225 | 38,371 |
The renter share is 39.5% in Myrtle Beach, well above the South Carolina median of 28%, a sizable rental market. The median household brings in $60,394 (about 13% below the South Carolina median of $69,324), with 59% of renters paying 30 percent or more of income toward rent.
Housing mix and age in Myrtle Beach
Apartments and small buildings carry real weight in Myrtle Beach, about 48% of units, with duplexes through fourplexes at 8%. A median construction date of 1994 points to growth-era housing, where HOA leasing limits and new-build rent comparables are the bigger questions.
Roughly 28% of units in Myrtle Beach sit vacant, and the share of rentals available for rent is 17.9% at the survey's snapshot. With 17% of units held for seasonal or occasional use, Myrtle Beach behaves partly like a resort market, and long-term and nightly income pencil out very differently.
Reading Myrtle Beach as an investor
A 3.9% gross ratio leaves little margin in Myrtle Beach. 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 39% of households, which gives investors a real tenant base to market to.
Taxes, insurance and hazards in Myrtle Beach
In Myrtle Beach the median tax bill for an owner-occupied home is $1,209, or about 0.31% of value (South Carolina overall: 0.48%). That bill is close to the South Carolina median of $1,251. At the median rent that tax bill takes roughly 8% of a year's rent before insurance, dues or interest.
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 |
In Horry County, as anywhere, the premium is part of PITIA, which means a quote with the roof, age and flood zone of the actual Myrtle Beach address belongs in your file early.
A worked DSCR test for Myrtle Beach
Take the median rent ($1,261), subtract median taxes spread over twelve months ($101), and you have $1,160 of room at a 1.00 ratio. A lender asking for 1.25 cuts that to $908. Real quotes for the address decide the rest.
Legal checks before a Myrtle Beach purchase
Nightly stays carry state tax in South Carolina. Hosts who rent directly generally need a retail license with the Department of Revenue.
A landlord collecting a deposit in Myrtle Beach works under S.C. Code Ann. § 27-40-410, which sets the limit as follows: No cap on the amount in the Residential Landlord and Tenant Act. South Carolina gives a landlord 30 days after the tenancy ends to return a deposit, an easy deadline to miss without a checklist. South Carolina sets landlord notice for month-to-month tenancies at 30 days' written notice before the termination date (7 days for week-to-week), which matters if you inherit a tenant with no lease end date.
How Myrtle Beach stacks up statewide
Here is how Myrtle Beach ($388,800) compares with other South Carolina cities we cover, where values run $286,800 in Aiken up to $748,500 in Mount Pleasant.
| Market | Renter share | Tax bill | Home value | Residents | Rent |
|---|---|---|---|---|---|
| Lexington | 31% | $1,541 | $297,700 | 24,585 | $1,545 |
| Aiken | 32% | $1,273 | $286,800 | 32,521 | $1,180 |
| Mount Pleasant | 26% | $2,300 | $748,500 | 93,993 | $2,159 |
| Myrtle Beach | 39% | $1,209 | $388,800 | 38,371 | $1,261 |
Workforce and demand drivers in Myrtle Beach
Self-employment accounts for 13.7% of Myrtle Beach's workforce, so many local investors earn income that a standard payroll-based mortgage underwrites poorly. Around the edges, government workers are about 12% of employment, 34% of adults hold a bachelor's degree or higher and 5% of commuters travel 45 minutes or more.
Horry-Georgetown Technical College are the named colleges for the Myrtle Beach area, a source of steady tenants but also of a lease cycle that follows the academic calendar. Wikipedia's entry for Myrtle Beach notes interstate access via I-74 and I-73 and air service through Myrtle Beach International Airport, a practical point for tenants and owners alike.
Sources and data notes
- S.C. Code 12-36-920 (South Carolina)
- Census Bureau ACS 5-year 2020 to 2024 tables
- FEMA risk data used for Myrtle Beach
- Encyclopedia entry for Myrtle Beach
- Myrtle Beach landlords: see S.C. Code Ann. § 27-40-410
- Lodging tax reference: SCDOR accommodations tax
Myrtle Beach's figures are ACS estimates covering 2020 to 2024 and are not exact counts. The South Carolina legal summaries are from the RedFlagLease dataset, licensed CC BY 4.0, with statute links. Verified October 2026. Ordinances and statutes change, so confirm before acting.
Frequently asked questions
Can I use a DSCR loan on a Myrtle Beach condo?
Often, if the building meets the lender's project rules. Collect the association documents early.
Will the lender count nightly income?
Only with a program that accepts it and documentation of a lawful plan. Otherwise long-term rent is used.
Do Carolina Forest homes qualify?
Yes, as single-family rentals. HOA dues count in the payment.
What rent number goes into a Myrtle Beach, SC DSCR calculation?
The property's own rent evidence decides: a lease, or the market rent from the appraisal. Citywide, Myrtle Beach renters report a median of $1,261.
How is the DSCR figure built for a Myrtle Beach property?
Yes, the payment includes principal, interest, taxes, insurance and association dues. At the Myrtle Beach median rent of $1,261, a 1.25 ratio allows about $1,009 in total payment, of which roughly $101 a month goes to median taxes.
Are Myrtle Beach property taxes high for South Carolina?
Myrtle Beach owners report a median $1,209 in annual real estate taxes, an effective 0.31% (South Carolina: 0.48%). Your own bill depends on the assessed value after purchase.
Can I use Airbnb income to qualify in Myrtle Beach?
Possible where lender guidelines allow it, subject to Myrtle Beach and Horry County rules and to the building's association. Lenders usually average a year of bookings and discount the result.
What are the security deposit rules for a South Carolina landlord?
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.
Does hazard risk affect a Myrtle Beach DSCR loan?
At the county level FEMA calls overall risk relatively high. Insurance, not the index, shows up in the ratio, so price a policy for the Myrtle Beach address.
Is an entity required for a SC DSCR loan?
Many Myrtle Beach investors do, though no rule forces it. The loan is secured by the property either way, and the lender will check who controls the company.