Is it cheaper to rent or buy in Myrtle Beach, SC?

At today's prices, buying the median home in Myrtle Beach, SC costs an estimated $2,449/month (mortgage, tax, insurance, maintenance) versus $1,698/month to rent. Renting is cheaper upfront, but buyers build equity over time. Use the calculator above to find your personal breakeven.

How much do I need to earn to buy a home in Myrtle Beach?

Based on conventional lending guidelines (28% housing DTI), you'd need roughly $80,555 in annual household income to qualify for a mortgage on the median-priced home in Myrtle Beach, SC.

How long should I plan to stay in Myrtle Beach before buying makes sense?

The breakeven point depends on your down payment, mortgage rate, and how aggressively you'd invest if renting. In a market like Myrtle Beach, SC with a 16x price-to-rent ratio, most buyers need at least 4–6 years to come out ahead. Run your scenario in the calculator above.

Housing Market Analysis · 2026

Rent vs Buy in Myrtle Beach, SC

Q: What is the price-to-rent ratio in Myrtle Beach?

The price-to-rent ratio in Myrtle Beach, SC is approximately 16x (median home price ÷ annual rent). A price-to-rent ratio of 16 suggests buying may be competitive with renting in Myrtle Beach, SC, depending on your mortgage rate and time horizon.

Local prices pre-filled. Adjust any input to match your situation.

Median Home Price $333,633

Median Rent $1,698/mo

Price-to-Rent Ratio 16x

YoY Price Change -2%

Income Needed $81K

Should you buy in Myrtle Beach?

Price-to-Rent Ratio

16x — is competitive for buying

A price-to-rent ratio of 16 suggests buying may be competitive with renting in Myrtle Beach, SC, depending on your mortgage rate and time horizon.

Monthly Cost Gap

Monthly ownership costs run about $751 above median rent in Myrtle Beach, SC. This relatively tight gap makes the rent-vs-buy decision especially sensitive to how long you stay in the home.

Price Trends

Home prices in Myrtle Beach, SC declined 2% year-over-year, which creates potential buying opportunities but also signals some market softness worth monitoring.

Affordability

The income needed to qualify for a median home in Myrtle Beach, SC is approximately $81K. Many middle-income households are weighing whether to buy now or continue renting.