Side-by-side comparison of Myrtle Beach, SC and Charleston, SC — cap rates, rent, prices, and investment metrics.
Cash flow: Myrtle Beach has the edge with an estimated cap rate of 4.08% compared to Charleston's 3.51%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $290,000 in Myrtle Beach vs $410,000 in Charleston, while rents come in at $1,400/mo and $1,750/mo respectively.
Growth & appreciation: Myrtle Beach is growing faster at 3.8% annually vs Charleston's 2.2%. Charleston leads on home value appreciation at 4% per year. Strong population growth typically translates to sustained rental demand and long-term price support.
Costs & risk: Property taxes are 0.58% in Myrtle Beach vs 0.57% in Charleston. Vacancy rates of 5.8% and 4.8% are both healthy, suggesting strong tenant demand in both markets.
Bottom line: Myrtle Beach edges out Charleston on most key metrics. While cap rates are moderate at 4.08%, Myrtle Beach's overall profile is stronger. Use our free calculators to model specific deals in Myrtle Beach or Charleston.