29579, Myrtle Beach, SC

Myrtle Beach, SC is a coastal city located in the Grand Strand region of South Carolina. The city has a population of approximately 129,000 and is known for its beaches, casinos, and luxury resorts. Home prices in Myrtle Beach have increased significantly over the past few years, reaching record highs in 2017.

According to the 2017 American Community Survey (ACS), the median home value in the 29579 zip code was $269,200. This represents an increase of more than 50% from the median home value of $158,500 recorded in ACS data from 2005. The 29579 zip code ranks as one of the most expensive zip codes in South Carolina and one of the most expensive in all of America.

The majority of homes in Myrtle Beach are owned by individuals or families who are able to afford to purchase a home at a high price point. In fact, according to Zillow’s 2018 Home Value Index report, nearly two-thirds (64%)of homes within the 29579 zip code are worth more than $300K. This high level of home ownership has helped drive up prices throughout Myrtle Beach over the past few years.

Despite this strong demand for property within Myrtle Beach, there has been some concern about potential housing shortages and price inflation due to increasing demand and limited supply. However, data from Zillow suggests that there is not currently an acute housing shortage within the city limits that would be causing significant problems with price inflation or shortages on available units for sale/rental.