Myrtle Beach, South Carolina Short-Term Rental Market Overview
Visitor Profile
The typical visitors to Myrtle Beach, South Carolina, are diverse yet unified by their pursuit of relaxed, family-friendly entertainment and scenic coastal experiences. Many are leisure travelers seeking sunny beaches, vibrant boardwalks, and a variety of attractions that cater to all ages, including amusement parks, golf courses, and live entertainment. Golf lovers flock to the area’s renowned courses, while families enjoy the wide, sandy beaches and engaging aquariums. Budget-conscious visitors and couples also find allure in Myrtle Beach’s array of affordable accommodations and romantic sunset vistas.
For those interested in cultural and natural excursions, Myrtle Beach offers attractions like the Myrtle Beach State Park, which provides opportunities for hiking scenic trails, fishing, and enjoying a pristine natural reserve. These visitors value both leisure and adventure, seeking authentic local flavors, memorable outdoor activities, and a laid-back coastal vibe that makes Myrtle Beach a top-tier vacation destination.
Top Attractions
Myrtle Beach, South Carolina, is renowned for its stunning beaches that attract travelers seeking relaxation and fun in the sun. Visitors can enjoy the wide sandy shores, perfect for lounging, swimming, and beachside activities. The Myrtle Beach Pier offers fantastic fishing and panoramic views, making it a popular spot for both locals and tourists. Beyond the shoreline, the area boasts a variety of family-friendly attractions, including Myrtle Waves Water Park with its exciting rides and lazy rivers, and Ripley’s Aquarium with its mesmerizing marine life displays. These attractions make Myrtle Beach a top destination for families and thrill-seekers alike.
The city also shines with vibrant entertainment options such as Broadway at the Beach and Family Kingdom Amusement Park, offering live entertainment, shopping, dining, and rides. For golf enthusiasts, Myrtle Beach is considered a premier golf destination with numerous world-class courses. The region hosts lively food festivals, sports events, and outdoor activities like golfing, watersports, and fishing, ensuring there is something exciting for everyone. Its rich mix of natural beauty, entertainment, and recreational options makes Myrtle Beach a compelling travel destination.
Regulations
Myrtle Beach, South Carolina, maintains a structured regulatory environment for short-term rentals (STRs) reflecting the area’s vibrant tourism sector. Hosts operating in Myrtle Beach can expect regulatory requirements that focus on licensing, zoning compliance, taxation, and adherence to safety standards. While the city embraces the economic benefits of STRs, it also imposes rules to balance neighborhood impacts and ensure guest safety, creating an environment where hosting is viable but clearly defined by local law.
Key Regulatory Considerations:
– Licensing and Permits: Hosting a short-term rental requires obtaining a business license from the City of Myrtle Beach. Hosts must register their property as a rental and comply with local ordinances concerning the issuance and renewal of permits. Fees and documentation requirements are determined by city codes, and a renewal process ensures ongoing compliance.
– Primary Residence and Zoning: Myrtle Beach regulations often differentiate between rentals of primary residences and investment properties, with zoning laws specifying where STRs are permitted. Certain residential zones may restrict STR usage to mitigate neighborhood disturbances. Hosts should verify whether their property is located in an approved zone for short-term rentals.
– Occupancy and Safety: The city enforces clear health and safety standards including occupancy limits, installation of smoke detectors, carbon monoxide alarms, and fire extinguishers. Compliance with building and fire codes is mandatory to ensure guest safety, and failure to adhere can lead to penalties.
– Tax Obligations: Hosts are responsible for remitting transient occupancy taxes (TOT) alongside applicable state and local sales taxes. Myrtle Beach enforces collection and reporting obligations to support municipal services contributing to tourism infrastructure.
– Operational Standards and Enforcement: Advertising of STRs must be accurate and truthful, reflecting compliance status. Noise regulations and guest behavior rules are in place to protect community standards. Violations of any regulatory requirements may result in fines, revocation of licenses, and other enforcement actions.
For the most current and legally binding information, property owners should consult the City of Myrtle Beach’s Official Short-Term Rental Regulations Page. This resource provides comprehensive details on licensing, zoning maps, tax documentation, and safety requirements to ensure hosts meet all local criteria effectively.
Myrtle Beach, South Carolina Market Performance Trends
Myrtle Beach, South Carolina Rental Market Insights
10-Year Market Growth
Growth chart data is not available for this location.
Booking Activity
- 1-3 Months:66.6% Booked
- 4-6 Months:59.8% Booked
- 7-9 Months:39.3% Booked
- 10-12 Months:8.4% Booked
Cancellation Policies
- Flexible:16.1%
- Moderate:23.5%
- Strict:49.1%
- Super Strict:49.1%
- N/A:3.3%
Minimum Stay
- 1 Day:1,963
- 2 Days:2,155
- 3 Days:967
- 4-6 Days:260
- 7-29 Days:220
- 30+ Days:102
