Side-by-side comparison of Myrtle Beach, SC and North Charleston, SC — cap rates, rent, prices, and investment metrics.
Cash flow: Myrtle Beach has the edge with an estimated cap rate of 4.29% compared to North Charleston's 3.82%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $335,000 in Myrtle Beach vs $430,000 in North Charleston, while rents come in at $1,680/mo and $1,970/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 North Charleston's 1.8%. 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 0.58% in Myrtle Beach vs 0.58% in North Charleston. Vacancy rates of 5.8% and 5.5% are both healthy, suggesting strong tenant demand in both markets.
Entry point: Myrtle Beach offers a lower entry at $335K vs North Charleston's $430K — a difference of $95K. With a 20% down payment, that's $67K vs $86K. Myrtle Beach combines the lower price with a higher cap rate — a compelling combination.
Bottom line: Myrtle Beach edges out North Charleston on most key metrics. While cap rates are moderate at 4.29%, Myrtle Beach's overall profile is stronger. Use our free calculators to model specific deals in Myrtle Beach or North Charleston.