Is Cherry Grove, South Carolina Good for Airbnb Investment?

Potentially—Cherry Grove, South Carolina combines visitor demand with long-term real estate upside.

• Offers a promising opportunity, primarily driven by its consistent appeal as a family-friendly beach vacation destination.
• The current market conditions reflect a steady demand for short-term rentals, particularly during peak summer months.
• While property values in this desirable coastal area can be higher than inland, the consistent tourism trends and strong occupancy rates provide a solid foundation for rental income.

$2,800–$6,500, based on location, season, and property quality.

• Based on available market data and rental performance metrics, Airbnb properties in Cherry Grove, South Carolina typically generate average monthly revenues ranging from $2,800 to $6,500, with significant seasonal fluctuations driven by the area's beach tourism patterns.
• Peak summer months from June through August can yield $7,000 to $12,000 monthly for well-positioned oceanfront or near-ocean properties.
• Properties within walking distance of the beach command premium rates averaging $180-320 per night during peak season compared to $80-150 for inland properties.
• Key factors influencing earnings include proximity to Cherry Grove Pier and beach access, property size and amenities like pools or hot tubs, guest capacity, and property condition.
• Annual gross revenues for successful Cherry Grove Airbnb properties generally range from $35,000 to $85,000, though exceptional beachfront properties with luxury amenities can exceed $100,000 annually.

Potentially strong—typical annual ROI is 8–15%.

• Typically generate ROI between 8-15% annually, with beachfront properties achieving the higher end due to premium summer rates averaging $200-400 per night during peak season (May-September).
• The payback period for most Cherry Grove vacation rental investments ranges from 7-12 years, depending on property type and financing structure.
• Compared to traditional long-term rentals in the area which yield approximately 6-8% ROI with monthly rents of $1,200-2,500, short-term rentals significantly outperform due to Cherry Grove's strong tourist demand.
• Properties within walking distance to the beach and fishing pier command occupancy rates of 65-80% during peak months, while off-season occupancy drops to 25-40%.

Cherry Grove, South Carolina averages 65–70% annual occupancy, with seasonal variation.

• Cherry Grove, South Carolina experiences average Airbnb occupancy rates of approximately 65-70% annually, with significant seasonal variation typical of coastal destinations.
• Peak season runs from June through August with occupancy rates reaching 85-95%, while shoulder seasons (April-May and September-October) maintain moderate rates around 60-75%.
• Winter months see the lowest occupancy at 35-45% due to cooler weather and reduced beach tourism.
• Spring break periods in March can spike to 70-80% occupancy.
• These rates generally align with South Carolina's coastal average of 68% but exceed the national Airbnb average of approximately 48-52%.
• The area's occupancy rates have shown resilience post-2020, with summer months consistently outperforming state averages by 10-15 percentage points.

The strongest opportunities balance visitor demand, nightly rates, and acquisition cost.

• The most lucrative Airbnb neighborhoods in Cherry Grove center around Ocean Boulevard and the immediate beachfront areas, where properties command premium rates due to direct beach access and stunning ocean views.
• The North Myrtle Beach oceanfront district offers excellent rental potential with its proximity to the Cherry Grove Pier, fishing charters, and beachfront restaurants.
• The Canal Street and 61st Avenue North areas provide strong investment opportunities with slightly lower property acquisition costs while maintaining easy beach access and attracting budget-conscious families seeking affordable beach rentals.
• The Waterway Boulevard corridor appeals to boating enthusiasts and fishing groups due to its proximity to marinas and the Intracoastal Waterway.
• The residential areas along 59th and 60th Avenue North offer excellent value propositions with larger homes suitable for multi-family groups and extended stays.
• The neighborhoods near Tilghman Beach and Golf Resort attract golf-focused travelers and provide opportunities for longer-term rentals during golf season.

Yes, but only where zoning permits short-term rentals and every required license is current.

• Short-term rental regulations in Cherry Grove, South Carolina are primarily governed by Horry County ordinances.
• Properties must comply with occupancy limits based on septic system capacity and bedroom count, typically allowing 2 guests per bedroom plus 2 additional guests.
• There are no owner-occupancy requirements for short-term rentals in Cherry Grove, allowing for investment properties to operate as vacation rentals.
• The area is zoned for tourist accommodation use, but properties must meet specific setback requirements and parking provisions, with at least one parking space per bedroom required.
• The registration process involves submitting an application to Horry County, providing proof of septic system capacity, obtaining required inspections.
• Recent regulatory changes implemented around 2019-2021 have strengthened enforcement mechanisms, increased penalties for non-compliance.

Tax rates vary by jurisdiction; licensing, inspection, and insurance costs are additional.

• Short-term rentals in Cherry Grove, South Carolina are subject to several fees and taxes including the state accommodations tax of 2% on gross rental receipts.
• Property owners must obtain a business license which costs approximately $50-100 annually, and register for a state tax license at no cost through the South Carolina Department of Revenue.
• Tourism development fees may apply at 1-2% of gross receipts, and some areas require short-term rental permits costing between $100-300 annually.
• Fire safety inspections are typically required every 1-2 years at costs ranging from $75-150, and owners must collect and remit state sales tax of 6% plus local sales taxes of 1-3% on rental income.
• Additional HOA fees or special assessments may apply in certain developments, and owners should budget for potential impact fees or zoning compliance costs that can range from $200-500 depending on local ordinances.