Recently named by Evolve Vacation Rental Network as the #7 best place to invest in vacation rental property, Myrtle Beach consistently holds a steady position of one of the top-ten best places to invest in a vacation rental year after year. With miles of sandy beach, predictable tourism, and an expansive variety of oceanfront homes and condos, it's one of the easiest vacation rental markets to enter. Myrtle Beach has a rather affordable median listing price of $130,000 - $175,000 with prices going up depending on amenities and proximity to the beach.
Evolve provides the following information regarding average rental income you can expect in the Myrtle Beach market:
During the summer the population of Myrtle Beach grows from 30,000 residents to millions as droves of tourists pour into the seaside community. Housing roughly 88 golf courses, 60 miles of uninterrupted sandy beaches, dozens of minigolf courses, arcades, Barefoot Landing and the popular Myrtle Beach Boardwalk, Myrtle Beach easily provides weeks of family-friendly entertainment.
For best vacation rental success consider these guidelines.
1. Oceanfront, ocean view, or a house with a pool just a short distance from the beach.
2. Clean, updated decor. Bright nautical themes perform the best in coastal areas.
3. Appropriate Out-of-Season pricing. Make sure that you aren't overcharging during the off-season. It easy to fill your booking calendar during the summer, but the off-seasons are trickier and require a balancing of prices as the seasons change.
If you're interested in exploring your investment options further, give us a call and speak to one of our professional real estate agents.
Figures from EvolveVacationRental.com and Zillow.com
