Is North Myrtle Beach, South Carolina Good for Airbnb Investment?

To start an Airbnb in North Myrtle Beach, South Carolina, begin by researching local regulations as the city requires short-term rental permits and has specific zoning restrictions that limit rentals to certain areas, particularly excluding some residential neighborhoods while allowing them in tourist-commercial zones. Contact North Myrtle Beach's Planning Department to obtain a Business License ($50-100 annually) and Short-Term Rental Permit ($200-300), ensuring your property meets safety requirements including smoke detectors, carbon monoxide detectors, and fire extinguishers. Find a suitable property within 1-2 miles of the beach, with 2-4 bedroom condos or houses typically renting for $150-400 per night depending on proximity to Ocean Drive and seasonal demand. Furnish the space with coastal-themed decor, quality linens, full kitchen amenities, beach equipment like chairs and umbrellas, and ensure reliable Wi-Fi since many guests work remotely. List your property on Airbnb, VRBO, and local rental companies like Elliott Beach Rentals or Seaside Vacations, highlighting proximity to Main Street's shag dancing venues, Barefoot Landing, and family attractions. For management, either handle bookings personally or hire local property management companies like Coastal Getaways or Beach Vacations who typically charge 20-30% commission but provide cleaning, maintenance, and guest services, while ensuring compliance with South Carolina's 7% state sales tax and 2% local accommodations tax that must be collected and remitted monthly.

To identify profitable short-term rental properties in North Myrtle Beach, South Carolina, focus on oceanfront or ocean-view properties within walking distance of popular beaches like Cherry Grove, Ocean Drive, or Crescent Beach, as these command premium rates year-round. Target 3-6 bedroom condos or beach houses built after 2000 with amenities like pools, hot tubs, game rooms, and parking for multiple vehicles, as families and groups are the primary market driving $150-400+ nightly rates during peak season (May-September). Analyze pricing using AirDNA and Mashvisor to benchmark against similar properties, aiming for markets with 65%+ occupancy rates and $40,000+ annual revenue potential, while researching competition density through Airbnb and VRBO searches within 0.5-mile radius of target properties. Study local regulations through North Myrtle Beach's planning department regarding STR permits and HOA restrictions, utilize tools like Rabbu and AllTheRooms for market analysis, and consider proximity to attractions like Barefoot Landing, golf courses, and the SkyWheel when evaluating locations. Properties in newer developments like Tilghman Beach or North Beach Plantation typically outperform older units, and investing in areas with easy beach access and lower competition density while maintaining reasonable acquisition costs under $500,000 often yields the strongest ROI in this market.

To obtain an Airbnb/STR permit in North Myrtle Beach, South Carolina, you must first apply through the City of North Myrtle Beach Planning Department located at City Hall (1018 2nd Avenue South) or online through their permitting portal. Required documents include a completed short-term rental application, property deed or lease agreement, floor plan showing maximum occupancy, parking plan demonstrating adequate spaces, contact information for a local responsible party within 30 miles, proof of liability insurance ($1 million minimum), and a $200 application fee plus $100 annual renewal fee. The city requires properties to meet specific zoning requirements (permitted in certain residential districts), maintain maximum occupancy limits based on bedrooms and square footage, provide one parking space per bedroom plus one additional space, install proper signage with permit number and emergency contact information, and comply with noise ordinances and trash collection schedules. The approval timeline typically takes 30-45 days from submission of complete application, and properties must pass a safety inspection before permit issuance. All STR operators must also register for city business license ($50 annually) and collect accommodations tax (7% city tax plus 2% county tax), with monthly remittance required to the South Carolina Department of Revenue and North Myrtle Beach Finance Department.

Short-term rentals (STRs) are legal in North 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, typically restricting rentals to no more than 12 people depending on the property size and parking availability. Properties must meet safety requirements including smoke detectors, fire extinguishers, and emergency contact information posted on-site. STRs are generally prohibited in certain residential zoning districts, particularly R-1 single-family zones, while being more permissible in tourist-oriented areas and multi-family zones. The city has implemented noise ordinances and parking restrictions, requiring adequate off-street parking spaces for guests. Recent changes have included stricter enforcement mechanisms and increased penalties for violations, with the city conducting regular inspections and responding to neighbor complaints. Property owners must also comply with South Carolina state tax requirements and register with the Department of Revenue for accommodations tax collection, while maintaining detailed guest records and adhering to maximum occupancy limits that are strictly enforced during peak summer months.

The best Airbnb investment areas in North Myrtle Beach include the Ocean Drive section, particularly near Main Street and the SOS (Society of Stranders) district, which attracts year-round beach music and shag dancing enthusiasts, especially during spring and fall SOS events that bring thousands of visitors. The Crescent Beach area offers excellent oceanfront proximity with slightly lower property costs than Ocean Drive while maintaining strong rental demand from families and couples seeking beach vacations. Cherry Grove, located at the northern tip, provides a quieter atmosphere that appeals to fishing enthusiasts and families, with easy access to Cherry Grove Pier and inlet activities, generating consistent bookings from March through October. The Windy Hill section attracts golfers due to its proximity to multiple championship courses and offers good value properties with strong rental potential during golf season and summer beach months. The Tilghman Beach area provides a balance of affordability and beach access, appealing to budget-conscious families and groups, while the residential areas just west of Ocean Boulevard offer larger properties suitable for group rentals and family reunions, capitalizing on North Myrtle Beach's reputation as a family-friendly destination with consistent tourism from the Carolinas, Georgia, and surrounding southeastern states.

In North Myrtle Beach, South Carolina, Airbnb properties are subject to multiple lodging taxes including the state accommodations tax of 2%, Horry County accommodations tax of 1.5%, and the North Myrtle Beach city accommodations tax of 2%, totaling approximately 5.5% in combined lodging taxes. These taxes are typically collected from guests at the time of booking through Airbnb's automatic tax collection system, which remits payments directly to the appropriate tax authorities on behalf of hosts. However, hosts may still need to register with the South Carolina Department of Revenue and obtain local business licenses, and should verify their tax obligations with Horry County and North Myrtle Beach tax offices as collection procedures can vary. Properties rented for 90 consecutive days or more to the same guest are generally exempt from accommodations taxes, and some jurisdictions may have minimum stay exemptions, though short-term vacation rentals under 30 days are typically subject to all applicable lodging taxes with no standard exemptions for small operators.

Starting an Airbnb in North Myrtle Beach, South Carolina requires a total investment of approximately $485,000-$565,000. Property purchase costs average $350,000-$425,000 for a median 3-bedroom condo or beach house suitable for short-term rentals. Furnishing costs range from $25,000-$35,000 including furniture, appliances, linens, kitchenware, and décor to create an attractive vacation rental. Initial setup expenses total $8,000-$12,000 covering professional photography, listing creation, welcome materials, and technology setup including smart locks and WiFi upgrades. Permits and fees amount to $2,500-$4,000 including business license ($50), short-term rental permit ($500-$1,000), fire safety inspection ($200), and potential HOA approval fees ($500-$2,000). Insurance costs $3,000-$5,000 annually for specialized short-term rental coverage. Utilities including electricity, water, internet, cable, and trash service average $300-$450 monthly or $1,800-$2,700 for six months. First six months operating costs total $15,000-$25,000 covering cleaning services ($150 per turnover), maintenance reserves, property management fees (20-30% if using a service), marketing, supplies, and potential vacancy periods during slower winter months.

Airbnb properties in North Myrtle Beach, South Carolina demonstrate strong profitability potential with average annual revenues ranging from $35,000-$65,000 for oceanfront condos and $25,000-$45,000 for properties within 2-3 blocks of the beach. 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 ($2,000-$4,000 annually), and maintenance costs. Net profit margins generally range from 25-35% for well-managed properties, with peak season (June-August) generating 60-70% of annual revenue at daily rates of $200-$400 for beachfront units. Success factors include proximity to Ocean Drive entertainment district, modern amenities like pools and beach access, professional photography, dynamic pricing strategies, and maintaining 4.8+ star ratings. Properties near Cherry Grove Pier and the Shag dancing venues consistently outperform inland locations by 20-30%. A typical 3-bedroom oceanfront condo purchased for $350,000 can generate $50,000 gross revenue with $32,000 net income after expenses, yielding a 9-12% cash-on-cash return when factoring in mortgage payments, making North Myrtle Beach a viable market for short-term rental investments despite seasonal fluctuations and increasing competition from new developments.

Airbnb investments in North Myrtle Beach, South Carolina typically generate annual ROI of 12-18% based on current market conditions, with cash-on-cash returns ranging from 8-15% depending on financing structure and property location proximity to the beach. Properties within 2-3 blocks of the oceanfront command premium nightly rates of $150-300 during peak summer season (June-August) and $80-150 during shoulder seasons, while inland properties average $100-200 and $60-120 respectively. Most investors achieve profitability within 18-24 months when purchasing properties in the $200,000-400,000 range with 20-25% down payments, assuming 65-75% annual occupancy rates. The market benefits from consistent demand driven by Grand Strand tourism, with properties typically generating $35,000-65,000 in gross annual rental income, and after accounting for management fees (20-25%), maintenance, utilities, and other operating expenses totaling 40-50% of gross revenue, net cash flow ranges from $18,000-35,000 annually on leveraged investments.

STRSearch is a leading national platform that specializes in identifying profitable short-term rental properties for investors in North Myrtle Beach, South Carolina. Local real estate agents like Dunes Realty, Elliott Realty, and Century 21 The Harrelson Group have extensive experience helping investors find vacation rental properties in the area, with many agents specifically focusing on Airbnb investment opportunities since around 2015-2018. National services include Mashvisor, which provides rental property analytics and market data for North Myrtle Beach, and AirDNA, offering short-term rental market insights and performance data for the region. RedAwning and Vacasa provide property management services for investors, while companies like BiggerPockets connect investors with local professionals experienced in vacation rental investments. Local property management companies such as Grand Strand Vacation Rentals and Beach Vacations have been assisting investors with Airbnb property acquisition and management since the platform's growth in the area around 2016-2019. RE/MAX agents in the North Myrtle Beach market, particularly those with vacation rental specializations, regularly work with out-of-state investors seeking profitable short-term rental properties, and platforms like Roofstock and HomeUnion occasionally feature North Myrtle Beach investment properties suitable for Airbnb conversion.