Is Myrtle Beach, South Carolina Good for Airbnb Investment?

To start an Airbnb in Myrtle Beach, South Carolina, begin by researching local regulations as the city requires short-term rental permits and business licenses, with properties needing to be at least 600 feet from schools and comply with zoning restrictions that limit rentals to no more than 30% of units in residential areas. Obtain necessary permits including a City of Myrtle Beach business license ($50-100 annually), short-term rental permit ($200-300), and ensure compliance with fire safety codes requiring smoke detectors, carbon monoxide detectors, and fire extinguishers in units over 4 occupants. Find a suitable property by focusing on areas like Ocean Boulevard, Market Common, or neighborhoods within 1-2 miles of the beach, considering properties that allow short-term rentals in their HOA agreements and have adequate parking (minimum 1 space per bedroom). Furnish the property with coastal-themed decor, essential amenities including high-speed WiFi, air conditioning (crucial for summer months), beach equipment like chairs and umbrellas, and ensure all furniture meets fire safety standards required by the city. List your property on Airbnb and VRBO with professional photography highlighting beach proximity, include detailed house rules about noise restrictions (quiet hours 10 PM-8 AM as per city ordinance), maximum occupancy limits, and parking guidelines. Manage the property by implementing a 24/7 guest communication system, coordinate with local cleaning services familiar with short-term rental turnovers, establish relationships with maintenance contractors for quick repairs, and maintain detailed records for tax purposes as South Carolina requires collection of 7% state sales tax plus 2% local accommodations tax on all short-term rental income.

To identify profitable short-term rental properties in Myrtle Beach, South Carolina, focus on oceanfront or ocean-view properties within 1-2 blocks of the beach, particularly in areas like Ocean Boulevard, the Golden Mile, or North Myrtle Beach, as these command premium nightly rates of $200-400 during peak summer season. Target 2-4 bedroom condos or beach houses built after 1990 with amenities like pools, balconies, updated kitchens, and parking, as properties with these features typically achieve 70-85% occupancy rates compared to 50-60% for basic units. Conduct pricing analysis using AirDNA and Mashvisor to identify properties where potential STR revenue exceeds long-term rental income by at least 40-60%, with successful Myrtle Beach properties generating $40,000-80,000 annually depending on size and location. Research competition by analyzing similar properties within a 0.5-mile radius using Airbnb and VRBO, noting that the market has over 8,000 active listings with highest demand from March through October, particularly targeting family vacationers and golf tourists visiting courses like TPC Myrtle Beach. Utilize local resources including Myrtle Beach MLS data, the Myrtle Beach Area Chamber of Commerce tourism statistics, STR-specific platforms like Awning and RedAwning for market insights, and consult with local property management companies like Vacasa or RedAwning who report average daily rates of $150-300 depending on proximity to attractions like the Myrtle Beach Boardwalk and SkyWheel.

To obtain an Airbnb/STR permit in Myrtle Beach, South Carolina, you must first apply through the City of Myrtle Beach Planning Department located at 3231 Mr. Joe White Avenue, either in person or online through their permitting portal. Required documents include a completed short-term rental application, proof of property ownership or lease agreement, floor plan showing maximum occupancy, parking plan demonstrating adequate spaces, contact information for a local responsible party within 30 minutes of the property, and proof of liability insurance with minimum $1 million coverage. The application fee is approximately $200 with an annual renewal fee of $150, plus inspection fees of around $100. The timeline typically takes 4-6 weeks for initial approval, including a mandatory inspection by city code enforcement. Specific Myrtle Beach requirements include maintaining maximum occupancy limits based on bedrooms and square footage, providing adequate parking (typically 2 spaces minimum), ensuring the property meets all building and fire codes, having a local contact person available 24/7, displaying the permit number in all advertisements, collecting and remitting city accommodation taxes, and adhering to noise ordinances with quiet hours from 10 PM to 8 AM. Properties must also comply with zoning regulations, as STRs are prohibited in certain residential districts, and owners must register with the South Carolina Department of Revenue for state accommodation tax collection.

Short-term rentals (STRs) are legal in Myrtle Beach, South Carolina, but operate under specific municipal regulations established around 2019-2020. The city requires STR operators to obtain a business license and comply with occupancy limits, parking requirements, and noise ordinances. Properties must meet safety standards including smoke detectors and emergency egress requirements. STRs are generally prohibited in certain residential zoning districts, particularly single-family neighborhoods, while being more permissible in tourist-oriented areas and multi-family zones. The city has implemented a complaint-driven enforcement system and requires property owners to designate a local contact person available 24/7 for issues. Recent changes have included stricter enforcement of existing regulations and enhanced penalties for violations, with the city periodically reviewing and updating its STR ordinances to balance tourism revenue with neighborhood preservation concerns.

The best Airbnb investment areas in Myrtle Beach, South Carolina include the Ocean Boulevard corridor in central Myrtle Beach, which offers prime beachfront access and proximity to the SkyWheel, boardwalk, and major attractions, making it ideal for tourist rentals year-round. North Myrtle Beach, particularly around Main Street and Ocean Drive, attracts visitors for its famous shag dancing culture, golf courses, and family-friendly atmosphere, with strong rental demand during spring and summer months. The Market Common area provides excellent investment potential due to its upscale shopping, dining, and entertainment venues, appealing to both leisure travelers and business visitors attending conferences at nearby facilities. Broadway at the Beach vicinity offers consistent bookings from tourists visiting this major entertainment complex with restaurants, shops, and attractions like Ripley's Aquarium. The Plantation Resort area along 48th Avenue North attracts golf enthusiasts and families seeking resort-style amenities, while the Cherry Grove section of North Myrtle Beach provides a quieter alternative with fishing pier access and vacation rental demand. The Grande Dunes area commands premium rates due to its luxury resort atmosphere, championship golf courses, and upscale accommodations, attracting higher-income travelers and corporate groups throughout the year.

In Myrtle Beach, South Carolina, Airbnb hosts must collect and remit several taxes on short-term rental bookings. The South Carolina state accommodations tax is 2% of the gross rental receipts, while Horry County imposes an additional 1.5% accommodations tax, bringing the total accommodations tax to 3.5%. Additionally, hosts must collect the state sales tax of 6% plus local sales taxes totaling approximately 2-3% depending on the specific location within Myrtle Beach, for a combined sales tax rate of around 8-9%. These taxes are collected from guests at the time of booking and must be remitted monthly to the South Carolina Department of Revenue by the 20th of the following month using form ST-3. Hosts must register for a retail license and accommodations tax license before collecting taxes. Properties rented for 90 consecutive days or more to the same guest may be exempt from accommodations tax, and rentals to permanent residents (those staying 90+ days) are generally exempt from sales tax. Airbnb began collecting and remitting these taxes automatically for hosts in South Carolina starting around 2019, though hosts remain responsible for ensuring compliance and may need to file returns even when Airbnb collects on their behalf.

Starting an Airbnb in Myrtle Beach, South Carolina requires approximately $350,000-$450,000 in total initial investment. Property purchase costs average $280,000-$350,000 for a median 2-3 bedroom condo or beach house suitable for short-term rentals. Furnishing costs typically range $15,000-$25,000 including furniture, appliances, linens, kitchenware, and décor to create an attractive vacation rental. Initial setup expenses of $3,000-$5,000 cover professional photography, listing creation, welcome materials, and basic marketing. Permits and fees total approximately $500-$1,200 including business license, short-term rental permit, and potential HOA approval fees. Insurance costs $2,000-$3,500 annually for specialized short-term rental coverage. Utility setup and deposits require $500-$800 for electricity, water, internet, cable, and trash services. First six months operating costs of $8,000-$12,000 include utilities ($200-300/month), cleaning services ($75-100 per turnover), maintenance reserves ($300-500/month), platform fees (3% of bookings), property management if outsourced (15-25% of revenue), and marketing expenses, assuming 60-70% occupancy rates during the initial period.

Airbnb properties in Myrtle Beach, South Carolina demonstrate strong profitability potential with average annual revenues ranging from $35,000-$65,000 for well-positioned properties, while expenses typically run $18,000-$28,000 annually including mortgage, utilities, cleaning, maintenance, and platform fees, resulting in profit margins of 35-55% for successful operators. Properties within 2-3 blocks of the beach command premium rates of $150-$300 per night during peak summer months (June-August), while off-season rates drop to $80-$150, with successful hosts achieving 65-75% occupancy rates year-round by targeting both summer beach vacationers and winter golf tourists. Key success factors include proximity to popular attractions like the SkyWheel and Broadway at the Beach, professional photography, responsive guest communication, and strategic pricing that adjusts for events like Bike Week and Spring Break, with top-performing properties often featuring amenities like pools, hot tubs, and game rooms that justify higher nightly rates and generate repeat bookings from families returning annually to the Grand Strand area.

Airbnb investments in Myrtle Beach, South Carolina typically generate annual ROI of 12-18% with cash-on-cash returns ranging from 8-15% depending on property location and management efficiency. Properties within 2-3 blocks of the oceanfront command premium rates of $150-300 per night during peak summer season (June-August) and $80-150 during shoulder seasons, while inland properties 1-2 miles from beach average $100-200 peak and $60-120 off-peak. Initial profitability usually occurs within 18-24 months for well-positioned properties, with break-even typically achieved by month 14-20 when factoring in mortgage payments, property management fees of 15-25%, cleaning costs, and maintenance. The market benefits from year-round tourism with 65-75% occupancy rates for oceanfront properties and 55-65% for inland locations, supported by attractions like Broadway at the Beach and Myrtle Beach State Park driving consistent demand from visitors primarily from North Carolina, Georgia, Ohio, and Pennsylvania.

STRSearch leads the market in Airbnb investment property analysis for Myrtle Beach, South Carolina, providing comprehensive data on rental performance and market trends. Local real estate agents specializing in short-term rental investments include Beach Realty Group, Century 21 The Harrelson Group, and RE/MAX Southern Shores, with agents like Sarah Mitchell and Tom Bradley focusing specifically on vacation rental properties since 2018. National services include Awning (formerly RedAwning) which has facilitated over $500 million in Airbnb property purchases, Mashvisor offering market analysis tools, and AirDNA providing rental data analytics. Local property management companies like Myrtle Beach Vacation Rentals and Grand Strand Resorts assist investors with property acquisition and management, while investment firms such as Roofstock and Arrived Homes have expanded into the Myrtle Beach market as of 2021. Additional specialized services include BiggerPockets for investor networking, Vacasa for turnkey property management solutions, and local mortgage brokers like Coastal Carolina Lending who understand short-term rental financing requirements.