Myrtle Beach is one of the most popular beach destinations in the United States, and it's no wonder why. With its beautiful sandy beaches, great weather, and plethora of things to do, Myrtle Beach is the perfect place to invest in a short term rental property. Here are just a few reasons why Myrtle Beach is a great place to invest in a short term rental:
1. The Weather is Perfect for Rentals
Myrtle Beach has some of the best weather in the country, which makes it perfect for renting out your property. The average temperature in Myrtle Beach is around 70 degrees, which means that renters can enjoy the beach all year round. Additionally, the city gets very little rainfall, so you won't have to worry about your rental property being empty during the rainy season.
2. There is a High Demand for Rentals
Myrtle Beach is one of the most popular tourist destinations in the country, which means that there is always a high demand for short term rentals. In fact, Myrtle Beach was recently ranked as the second most popular vacation destination in the United States. This high demand means that you can charge a premium price for your rental property, and you can be assured that it will always be booked solid.
3. There are a Lot of Things to Do in Myrtle Beach
Myrtle Beach is not just a beach town - there are actually a lot of things to do in the city. From golfing and fishing to shopping and dining, Myrtle Beach has something for everyone. This variety of activities means that renters will always have something to do, and they will be more likely to come back to your rental property in the future.
4. The Cost of Living is Affordable
Myrtle Beach is a very affordable place to live, which is another reason why it's such a great place to invest in a short term rental. The cost of living in Myrtle Beach is significantly lower than in other parts of the country, so you'll be able to save money on your mortgage payments and other expenses. Additionally, the property taxes in Myrtle Beach are quite low, so you'll keep more of your rental income.
5. There is a growing Real Estate Market
The real estate market in Myrtle Beach is growing rapidly, which means that now is a great time to invest in a rental property. Home values in Myrtle Beach have increased by nearly 10% over the past year, so you can be confident that your investment will appreciate in value. Additionally, the rental market in Myrtle Beach is also very strong, so you can expect to see a good return on your investment.
If you're looking for a great place to invest in a short term rental property, Myrtle Beach is an excellent choice. With its beautiful weather, high demand, and affordable cost of living, Myrtle Beach is a great place to own a rental property.
Let us connect you to financing your next STR and a realtor in the area who's an expert in getting deals done. Contact us today!