What HUD offices serve Myrtle Beach, South Carolina?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the South Carolina Public Housing and Low-Income Apartments Waiting Lists page for openings near Myrtle Beach.
How many renters live in Myrtle Beach, South Carolina?
The City of Myrtle Beach has 36,064 people living in 16,201 households.
There are 15,174 renters living in 6,385 renter households in this City. Renters make up 42.08 percent of the population living in Myrtle Beach.
What is the rental market like in Myrtle Beach, South Carolina?
There are an estimated 24,185 housing units in the Myrtle Beach area. Of these, 8,717 units are rental homes, making up 36 percent of the housing market. For every renter household in Myrtle Beach, South Carolina, there are 1 rental units.
What is the vacancy rate for rentals in Myrtle Beach?
The rental vacancy rate in Myrtle Beach is 24 percent. This is a higher than average vacancy rate. When rental vacancy rates are high it means that there are a lot of available units and rents tend to be lower.
How many rental units are in Myrtle Beach for each bedroom size?
Occupied Rental Units by Size in Myrtle Beach
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 340 | 1,250 | 3,051 | 1,586 | 153 |
Occupied Rental Units by Size in Myrtle Beach
A large number of apartments in Myrtle Beach have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Myrtle Beach are overburdened by housing costs?
Among renter households in this market, 60 percent have housing cost burden. Further, 34 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Myrtle Beach
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,121 to $2,005. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,121 |
| One BR | $1,187 |
| Two BR | $1,361 |
| Three BR | $1,724 |
| Four BR | $2,005 |
2024 Fair Market Rents in Myrtle Beach, South Carolina
How many units are rented at Fair Market Rent (FMR) in Myrtle Beach?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 245 | 72 percent |
| One BR | 843 | 67 percent |
| Two BR | 2,138 | 70 percent |
Rental Units Below FMR in Myrtle Beach, South Carolina
How many affordable rental units are in Myrtle Beach?
There are a variety of federal affordable housing programs serving households in Myrtle Beach, South Carolina including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 611 |
| Section 8 Project-Based Rental Assistance | 134 |
| Section 202 Supportive Housing for the Elderly | 35 |
Tracked Units by Federal Program in Myrtle Beach, South Carolina
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Myrtle Beach, South Carolina
Myrtle Beach features 383 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Myrtle Beach, South Carolina
There are 653 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Myrtle Beach.
Housing Choice Vouchers in Myrtle Beach, South Carolina
On average, Section 8 Housing Choice vouchers pay Myrtle Beach landlords $600 per month towards rent. The average voucher holder contributes $300 towards rent in Myrtle Beach.
The maximum amount a voucher would pay on behalf of a low-income tenant in Myrtle Beach, South Carolina for a two-bedroom apartment is between $1,225 and $1,497.
Sourced from federal housing data and AffordableHousingOnline.com research.
