Side-by-side comparison of Columbia, SC and Myrtle Beach, SC — cap rates, rent, prices, and investment metrics.
Cash flow: Columbia has the edge with an estimated cap rate of 5.59% compared to Myrtle Beach's 4.29%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $250,000 in Columbia vs $335,000 in Myrtle Beach, while rents come in at $1,540/mo and $1,680/mo respectively. For context, the national average cap rate is 3.81% and average price is $333K.
Growth & appreciation: Myrtle Beach is growing faster at 3.8% annually vs Columbia's 0.8%. Myrtle Beach leads on home value appreciation at 3.8% per year. Strong population growth typically translates to sustained rental demand and long-term price support.
Costs & risk: Property taxes are 0.56% in Columbia vs 0.58% in Myrtle Beach. Vacancy rates of 6% and 5.8% are mixed — Myrtle Beach has the tighter rental market.
Entry point: Columbia offers a lower entry at $250K vs Myrtle Beach's $335K — a difference of $85K. With a 20% down payment, that's $50K vs $67K. Columbia combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Columbia edges out Myrtle Beach on most key metrics. With a 5.59% cap rate, it offers solid cash flow potential. Use our free calculators to model specific deals in Columbia or Myrtle Beach.