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 other short-term rentals in residential areas and comply with occupancy limits of 2 people per bedroom plus 2 additional guests. 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 and parking requirements (typically 1 space per bedroom). Find a suitable property by focusing on areas like Ocean Boulevard, downtown, or residential neighborhoods that allow short-term rentals, considering proximity to beaches and attractions while ensuring the property meets city zoning requirements. Furnish the space with coastal-themed decor, essential amenities including linens, kitchen supplies, WiFi, cable TV, and safety equipment like smoke detectors and fire extinguishers as required by city codes. List your property on platforms like Airbnb, VRBO, and local rental sites, setting competitive rates based on seasonal demand (peak summer rates $150-400/night, off-season $75-200/night), and create attractive listings with professional photos highlighting beach proximity. Manage the property by establishing cleaning protocols between guests, responding promptly to inquiries, coordinating check-ins/check-outs, maintaining the property to city standards, collecting and remitting the required 12% total tax rate (7% state sales tax, 3% accommodations tax, 2% local hospitality tax), and keeping detailed records for annual permit renewals and tax reporting to both the South Carolina Department of Revenue and Myrtle Beach city officials.

To identify profitable short-term rental properties in Myrtle Beach, South Carolina, focus on oceanfront or ocean-view properties within 0.5 miles of the beach, particularly in popular areas like North Myrtle Beach, The Market Common, and downtown Myrtle Beach near the SkyWheel and boardwalk. Target 2-4 bedroom condos or beach houses with amenities like pools, hot tubs, game rooms, and parking, as these command higher nightly rates of $150-400 depending on season and proximity to attractions. Conduct pricing analysis using AirDNA and Mashvisor to evaluate average daily rates, occupancy rates (typically 60-75% annually), and revenue potential, while researching competition density through Airbnb and VRBO searches to ensure market saturation isn't excessive. Utilize Myrtle Beach-specific resources like the Myrtle Beach Area Convention and Visitors Bureau data, local STR management companies like RedAwning or Vacasa for market insights, and monitor seasonal demand patterns since peak season (May-September) generates 70% of annual revenue. Consider properties near golf courses, as Myrtle Beach's 100+ courses attract year-round visitors, and ensure compliance with local STR regulations which vary by municipality within Horry County.

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, submitting a completed Short-Term Rental Registration application along with required documents including proof of property ownership or lease agreement, floor plan showing maximum occupancy, site plan, parking plan demonstrating adequate off-street parking, contact information for a local responsible party within 30 miles, and proof of liability insurance with minimum $1 million coverage. The application fee is approximately $200 with an annual renewal fee of $100, and the process typically takes 30-45 days for approval. Myrtle Beach requires STRs to maintain maximum occupancy of 2 people per bedroom plus 2 additional guests, provide adequate parking (minimum 1 space per bedroom), display the registration number prominently, maintain quiet hours from 10 PM to 8 AM, ensure trash collection compliance, and have a local contact person available 24/7 to respond to complaints within 30 minutes. Properties must also comply with all zoning regulations, building codes, and fire safety requirements, with some residential zones prohibiting STRs entirely, so verify zoning compliance before applying through the Planning Department.

Short-term rentals (STRs) are legal in Myrtle Beach, South Carolina, but operate under specific regulations established by the city. As of 2023, Myrtle Beach requires STR operators to obtain a business license and comply with occupancy limits, parking requirements, and noise ordinances. The city prohibits STRs in certain residential zoning districts, particularly single-family neighborhoods, while allowing them in designated tourist accommodation zones and some multi-family areas. Properties must meet safety standards including smoke detectors, fire extinguishers, and emergency contact information posted on-site. Recent changes include stricter enforcement of the "good neighbor" policies, requiring 24/7 contact information for guests and property managers, and enhanced penalties for violations including noise complaints and overcrowding. The city has also implemented a registration system to better track STR properties and ensure compliance with local tax collection requirements, with operators required to collect and remit accommodations taxes to both the city and Horry County.

The best Airbnb investment areas in Myrtle Beach, South Carolina include the Golden Mile district along Ocean Boulevard between 29th and 79th Avenue North, which offers prime beachfront access and proximity to major attractions like the SkyWheel and Boardwalk, attracting millions of tourists annually. The Market Common area provides excellent potential due to its upscale shopping, dining, and entertainment venues, plus its appeal to business travelers visiting nearby medical facilities and corporate offices. North Myrtle Beach, particularly the Ocean Drive and Cherry Grove sections, attracts significant tourism from the Carolina shag dancing community and hosts major events like the Society of Stranders events, generating consistent rental demand. The Broadway at the Beach vicinity offers strong investment potential due to its position as a major entertainment complex with restaurants, nightlife, and attractions that draw visitors year-round. The Plantation Resort area along 76th Avenue North provides family-friendly vacation rental opportunities with golf course access and resort amenities. Finally, the Withers Swash area near Myrtle Beach State Park appeals to nature-loving tourists and offers a quieter alternative while maintaining beach access, making it attractive for longer-term stays and repeat visitors seeking a more residential vacation experience.

In Myrtle Beach, South Carolina, Airbnb hosts are subject to multiple lodging taxes including the South Carolina state accommodations tax of 2%, Horry County accommodations tax of 1.5%, and the City of Myrtle Beach accommodations tax of 2%, totaling approximately 5.5% on gross rental receipts. These taxes apply to short-term rentals of less than 90 consecutive days and are collected from guests at the time of booking, with Airbnb automatically collecting and remitting state and local taxes on behalf of hosts in most cases since 2019. Hosts must register with the South Carolina Department of Revenue and obtain a retail license, file monthly returns by the 20th of the following month, and remit collected taxes even if Airbnb is handling collection to ensure compliance. Additionally, there may be a Tourism Development Fee of approximately 1-2% depending on the specific location within Myrtle Beach. Exemptions typically include rentals to permanent residents (30+ days), government employees on official business, and certain disabled veterans, though documentation is required. Hosts should verify their specific obligations with local tax authorities as rates and collection procedures can change, and some properties may be subject to additional municipal fees or business license requirements.

Starting an Airbnb in Myrtle Beach, South Carolina requires significant upfront investment across multiple categories. Property purchase costs average $285,000 for a median 2-3 bedroom condo or beach house suitable for short-term rentals in desirable areas near the ocean or attractions. Furnishing costs typically range $15,000-25,000 to create an attractive, fully-equipped rental including furniture, appliances, linens, kitchenware, and décor that appeals to vacationers. Initial setup expenses of $3,000-5,000 cover professional photography, listing creation, welcome materials, lockboxes or smart locks, and basic marketing. Permits and fees total approximately $500-1,200 including business license ($50-150), short-term rental permit ($200-400), potential HOA approval fees ($100-300), and tax registration ($50-100). Insurance costs $2,000-4,000 annually for specialized short-term rental coverage that protects against guest damages and liability. Utilities including electricity, water, internet, cable, and trash service average $200-350 monthly or $1,200-2,100 for six months. First six months operating costs of $8,000-12,000 include cleaning services ($75-125 per turnover), Airbnb host fees (3% of bookings), maintenance supplies, guest amenities, marketing, and property management if outsourced. Total startup costs range from $314,700 to $334,400, though financing the property purchase significantly reduces initial cash requirements to approximately $72,000-92,000 with a 20% down payment plus closing costs.

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 operating expenses typically consume 40-50% of gross revenue including cleaning fees ($75-125 per turnover), property management (15-25%), utilities ($200-400 monthly), insurance ($1,500-3,000 annually), and maintenance costs. Properties within 2-3 blocks of the oceanfront command premium rates of $150-350 per night during peak summer months (June-August), while off-season rates drop to $80-150, resulting in net profit margins of 25-35% for successful operators. Key success factors include proximity to popular attractions like Broadway at the Beach and the SkyWheel, professional photography, dynamic pricing strategies, and maintaining 4.8+ star ratings through exceptional guest experiences. Case studies from 2022-2023 show that a typical 3-bedroom oceanview condo generating $52,000 in annual revenue with $31,000 in expenses achieved a 40% profit margin, while inland properties 5+ miles from the beach struggled with 15-20% margins due to lower occupancy rates of 45-55% compared to beachfront properties achieving 65-75% occupancy. Properties managed by companies like Vacasa and RedAwning in prime locations have reported ROI of 8-12% annually, though individual owner-operators often achieve higher margins by controlling costs and providing personalized service.

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 annual gross rental yields of 20-30% common for oceanfront condos and 15-25% for beach-proximity single family homes. The market benefits from year-round tourism with spring break, summer vacation, and fall golf seasons driving consistent occupancy rates of 65-80% for top-performing properties, though investors should budget for 25-35% of gross revenue going toward cleaning, maintenance, property management fees, and platform commissions.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors, including in Myrtle Beach, South Carolina. Local real estate agents who focus on Airbnb investment properties in the Myrtle Beach area include The Hoffman Group at Keller Williams, Century 21 The Harrelson Group, and RE/MAX Southern Shores agents who specialize in vacation rental investments. National services that help investors find profitable Airbnb properties include Mashvisor, which provides rental property analytics and market data, AirDNA for short-term rental market insights, and Roofstock, which offers turnkey rental properties. Local property management companies that also assist with acquisitions include Myrtle Beach Vacation Rentals, Elliott Realty, and Beach Vacations, which have extensive knowledge of profitable rental areas. Additional national platforms include BiggerPockets for networking and deal finding, Awning for short-term rental investing guidance, and RedAwning for vacation rental market analysis. Local mortgage brokers and lenders familiar with investment properties in Myrtle Beach include First Citizens Bank and South State Bank, while national lenders like Lima One Capital and DSCR Loan Mart specialize in short-term rental financing.