Myrtle Beach, South Carolina, renowned for its pristine beaches and vibrant entertainment scene, has become a hotspot for short-term rental investments. As the city continues to attract tourists year-round, many property owners are exploring the potential of hosting on platforms like Airbnb. This guide delves into the legal framework, profitability metrics, and prime neighborhoods for Airbnb hosting in Myrtle Beach as of 2025.
Understanding Myrtle Beach’s Short-Term Rental Regulations
Before listing a property on Airbnb in Myrtle Beach, it’s crucial to navigate the city’s regulatory landscape:
- License Requirement: All short-term rental properties must obtain a business license from the City of Myrtle Beach. Operating without a valid license can result in significant penalties. Source: City of Myrtle Beach
- Zoning Restrictions: Most traditional residential neighborhoods in the City of Myrtle Beach are not zoned for short-term rentals. Rentals of less than 90 days are generally prohibited in residential zones, except for the RMV (Residential Multifamily Visitor) zone. Source: City of Myrtle Beach
- Tax Obligations: Hosts are required to collect and remit applicable taxes to the state and city. Source: GoSummer
Staying updated with local ordinances is essential, as regulations may evolve. Regularly consult the City of Myrtle Beach for the latest information.
Profitability Metrics: What Hosts Can Expect
Myrtle Beach’s dynamic economy and tourist attractions contribute to a robust short-term rental market. Here’s an overview of key profitability indicators:
- Average Daily Rate (ADR): Approximately $201, reflecting the average rental revenue earned for an occupied room per day. Source: AirROI
- Occupancy Rate: Around 39%, indicating moderate demand with booking opportunities. Source: AirROI
- Annual Revenue: Average annual revenue stands at $26,210. Source: AirROI
- Peak Revenue Month: June is identified as the month with the highest average earnings, indicating peak season in Myrtle Beach. Source: AirROI
These figures underscore the potential for profitable Airbnb hosting in Myrtle Beach, especially when properties are well-managed and strategically located.
Top Neighborhoods for Airbnb Hosting in Myrtle Beach
Choosing the right neighborhood is pivotal for maximizing occupancy and revenue. Here are some of Myrtle Beach’s most promising areas for Airbnb investments:
1. Downtown Myrtle Beach
- Highlights: The heart of Myrtle Beach, known for its iconic boardwalk, shopping, and nightlife.
- Ideal For: Tourists seeking proximity to major attractions and beach access. Source: Airbtics
2. Cherry Grove Beach
- Highlights: A charming blend of relaxation and adventure, with wide sandy beaches and a historic fishing pier.
- Ideal For: Guests looking for a picturesque coastal setting. Source: BNB Calc
3. Carolina Forest
- Highlights: A master-planned community offering upscale amenities, parks, and shopping centers.
- Ideal For: Families and travelers seeking a quieter, suburban atmosphere. Source: JP Real Estate Experts
4. The Dunes
- Highlights: An upscale neighborhood known for its luxury homes and proximity to the Dunes Golf and Beach Club.
- Ideal For: Guests seeking a high-end, tranquil experience. Source: Wall Street Journal
5. Grande Dunes
- Highlights: A resort community offering luxury accommodations and beautiful golf courses.
- Ideal For: Families and guests seeking a resort-style vacation. Source: Wall Street Journal
Conclusion: Navigating Airbnb Hosting in Myrtle Beach
Myrtle Beach’s appeal as a travel destination presents lucrative opportunities for Airbnb hosts. By adhering to local regulations, understanding market dynamics, and selecting prime neighborhoods, hosts can optimize their rental income. Continuous engagement with community guidelines and market trends will ensure sustained success in Myrtle Beach’s short-term rental landscape.
