Is a Grand Strand Short-Term Rental a Good Investment in 2026? A Buyer's Reality Check

Thomas Garner
6 days ago
9 min read

The Grand Strand advertises 18.2 million visitors and $13.2 billion in direct spending — and the short-term rental data reads like a volume market wearing a premium-market costume. Myrtle Beach alone carries 8,427 active listings on AirROI's June 2025–May 2026 window at $251 ADR and $24,391 average annual revenue per listing, while North Myrtle Beach commands $372 ADR on 4,335 listings grossing $33,593 portfolio-average. Supply grew 52.4% year-over-year in Myrtle and 51.8% in North Myrtle, even as revenue rose — demand is absorbing new inventory, but per-listing economics are thinning.

Q3 2025 accommodations-tax revenue fell 10.8% amid rain, Canadian visitation softness, and inflation pricing out drive-market families. The investment question is not whether the Grand Strand draws tourists. It does. The question is whether your sub-market, property type, and compliance posture pencil out — because "cheap to enter" and "easy to profit" are different things in a 27,000-plus-listing region where the median experience is not the Instagram oceanfront tower.

This report runs the sub-market buy box, revenue ranges across data platforms, regulatory and HOA risk, and the segment-selection framework that separates investable inventory from condos that platforms host but HOA covenants or zoning will eventually restrict.

Two Markets, Two Strategies — Myrtle Beach vs. North Myrtle Beach

The Grand Strand's headline mistake is treating 60 miles of coastline as one investment thesis. The two giants tell opposite stories:

Market	Listings (AirROI)	Portfolio avg revenue	ADR	Occ (avail.-adj.)	Property mix	Investment character
Myrtle Beach	8,427	$24,391	$251	36.9%	81% condo/apartment	Low entry, brutal competition, commodity towers
North Myrtle Beach	4,335	$33,593	$372	36.0%	67% condo, 31% houses	Higher ADR, repeat-family houses, permit tightening

Myrtle Beach is the default volume play: oceanfront condo towers along the Golden Mile and boardwalk corridor, the lowest barrier to entry on the Southeast coast, and the most fragmented inventory in the Carolinas. Airbtics puts median actively-rented Myrtle listings closer to $42,000 annually at 63% booked occupancy — far above AirROI's portfolio average because median excludes dead and part-time listings. Use $24,000–$42,000 as the underwriting range for a typical condo; top performers exceed $57,000. July peak runs $6,481 in monthly revenue at 58.7% occupancy; January trough hits $1,570 at 23.2% occupancy. The December 2024 conversion overlay east of Kings Highway generally protects STR supply in the densest condo corridor — a regulatory tailwind most buyers do not realize.

North Myrtle Beach trades volume for pricing power: Cherry Grove tidal-creek houses top $54,075 in the 29582 corridor, Ocean Drive commands premium ADR, and 53.4% of listings sleep 8+ guests. Median actively-rented units approach $58,000 on Airbtics. The trade-off is regulatory tightening — proposed annual permit, safety inspection, and 30-mile responsible-agent rules targeting absentee owners. Underwrite North Myrtle at a higher ADR, but with higher compliance costs and political risk.

Do not buy the average. A studio condo grossing $24,391 competes against 8,000 near-identical units. A Cherry Grove 5-bedroom with dock access and repeat-family reviews competes in a different game entirely.

Hammock Coast Premium — and the Regulation Risk Nobody Quotes

South of the Myrtle congestion, Georgetown County's Hammock Coast — Murrells Inlet, Garden City inlet side, Pawleys Island area, Litchfield — trades scale for differentiation:

Murrells Inlet: 430 listings, $41,953 avg revenue, $408 ADR, 39.8% occupancy — MarshWalk/seafood/fishing economy.
Garden City Beach: 407 listings, $39,656 avg revenue, $373 ADR, 40.6% occupancy — lowest supply growth on the Strand at +20.8% YoY.
Surfside Beach: 488 listings, $43,646 avg revenue, $422 ADR — "The Family Beach" brand.
Pawleys Island area: 415 listings, $28,392 portfolio avg but $379 ADR — 49.4% require 30+ night minimums; incorporated town STR status genuinely contested.
Litchfield Beach: 156 listings, $28,182 avg, $439 ADR (highest surveyed) but 28.8% occupancy — premium, low-volume, gated-community HOA constraints.

The Hammock Coast offers higher-character, often higher-ADR inventory — but with regulatory murk (Pawleys Island incorporated town restrictions unconfirmed in public sources; Georgetown County ordinances periodically revisited) and HOA rental minimums in gated communities like Litchfield by the Sea. Investment here is a connoisseur's play: verify STR legality on the specific parcel before closing, not after the OTA listing goes live.

Revenue Math — Ranges, Not Single Numbers

Cross-platform disagreement on the Grand Strand is among the widest in the Southeast dossier. Always disclose the range:

Conservative (AirROI portfolio average, availability-adjusted occupancy):

Myrtle Beach: $24,391/yr, 36.9% occ, $251 ADR
North Myrtle: $33,593/yr, 36.0% occ, $372 ADR
Surfside: $43,646/yr, 39.7% occ, $422 ADR

Optimistic (Airbtics median actively-rented, booked-night basis):

Myrtle Beach: ~$42,000/yr, ~63% occ
North Myrtle: ~$58,000/yr, ~59–61% occ
Rabbu metro median: ~$43,000/yr on ~66% occ (Nov 2024–Oct 2025 cut)

Underwriting rule: Model at AirROI's portfolio figure for a commodity condo you will not differentiate. Model between AirROI and Airbtics median if you will dynamic-price summer peak, merchandise a specific segment (golf, family, snowbird), and operate compliantly year-round. Top-decile performers on any platform exceed $90,000 — but median experience sits far lower.

Seasonality is extreme everywhere except inland Conway. July revenue runs 3–4× January on beach towns. June–August concentrates roughly 50–69% of annual revenue, depending on the market. Winter is not dead — golf, snowbirds, and holiday events (Dickens Christmas Show Nov 12–15, 2026; Nights of a Thousand Candles from Nov 27) sustain shoulder demand — but January occupancy bottoms near 20–23% on the beach. Budget debt service against trough months, not July fantasy.

The Cost and Risk Side — What Platform Pages Omit

HOA and condo covenants kill more Grand Strand investments than bad photos. Oceanfront towers often restrict the number of rental nights, require on-site management, cap the guest count, or ban STRs entirely in newer buildings. Read the HOA rental policy before the purchase contract — not the closing attorney's summary. Gated communities in Litchfield and Carolina Forest impose minimum-stay rules that conflict with the economics of weekly summer turnover.

Insurance and catastrophe exposure on the Carolina coast is rising. Wind, flood, and named-storm deductibles materially affect net cash flow. A property that pencils at $35,000 gross before a $8,000 premium increase and a $15,000 deductible exposure is a different asset than the spreadsheet showed.

Regulatory arc is tightening, not loosening:

Myrtle Beach: conversion overlay protects STR supply in the overlay zone but restricts STR in standard R-zones outside RMV.
North Myrtle Beach: proposed permit + responsible-agent regime (verify adoption at publish).
Pawleys Island incorporated town: STR status unconfirmed — do not assume legality.
SC S.442 (pending): statewide registration, responsible-agent mandate, $1M liability insurance, removal of ≤6-bedroom owner-occupied tax exemption.The

2025 demand softening is real. Hotel occupancy fell 3.3% YoY; accommodations-tax revenue fell 10.8% in Q3 2025; Canadian visitation dropped 30–40% monthly through summer 2025 amid trade tensions. The Grand Strand underperformed South Carolina's record statewide tourism the same year Charleston set highs. Supply growth of 33–80% YoY across towns compounds the compression. ADR held up; occupancy did not — the central 2026 risk theme.

Operational reality: 54.7% of Myrtle listings are professionally managed. Competing as a self-managing absentee owner against Elliott Beach Rentals (1,000+ units), Booe Realty (since 1971), Big Fish Rentals (600+), and Vacasa (~764–1,000 local units) without differentiation is not investing — it is hoping.

The Buy Box — Matching Property Type to Target Segment

Run acquisition underwriting in this order:

1. Confirm STR legality — city zoning (Myrtle RMV vs. R-zone), county jurisdiction (Horry vs. Georgetown), HOA covenants, NMB permit status. 2. Match segment to product — golf groups want bag storage and spring/fall calendar pricing; summer families want oceanfront honesty, pools, and elevator access; snowbirds want monthly rates, utilities-included pricing, and ground-floor accessibility. 3. Model revenue at range — AirROI conservative baseline + event-week premiums (CCMF June 4–7, 2026; Blue Crab Festival May 16–17; Bike Week spring/fall). 4. Model trough — January at 50–70% of peak monthly revenue; September–November shoulder with golf and festival tiers. 5. Subtract all-in costs — 10–13% guest tax (jurisdiction-dependent), management (20–40% if full-service), insurance, HOA, cleaning, capex.

Investable buy boxes by profile:

Investor profile	Best sub-market	Property type	Why
Volume condo investor	Myrtle overlay zone (east of Kings Hwy)	2–3BR oceanfront condo, verified RMV zoning	Lowest entry, overlay-protected supply, commodity competition
Premium family-house investor	North Myrtle (Cherry Grove, Crescent Beach)	4–6BR with pool, dock, or golf-cart access	$372 ADR, repeat-family demand, higher gross
Differentiated low-supply play	Garden City Beach, Surfside	Oceanfront or pier-corridor house/condo	Lowest supply growth (Garden City +20.8%), family brand (Surfside)
Experience-economy investor	Murrells Inlet	MarshWalk-proximate house with dock	$408 ADR, foodie/fishing base, not commodity beach
Inland value arbitrage	Conway	3BR near CCU or Riverwalk	Flatter seasonality, university + overflow demand, lower entry
Avoid without deep due diligence	Pawleys incorporated island, residential-zone Myrtle, Little River commodity condo	—	Regulatory murk or $12,990 portfolio-average revenue

Who the Grand Strand Works For — and Who It Does Not

Works for: Investors who complete zoning and HOA due diligence before closing; operators who pick a sub-market and segment, not "a beach rental"; hosts who dynamically price July and festival windows and manage November–February deliberately; buyers who treat the overlay and Hammock Coast regulation as underwriting variables, not afterthoughts.

Does not work for: Buyers who acquire the median condo and expect median-plus returns without differentiation; investors who underwrite Airbtics ' $58,000 North Myrtle median on a Windy Hill 2BR with no pool; absentee owners who ignore proposed NMB responsible-agent rules; anyone who confuses 18.2 million visitors with 18.2 million visitors to their tower.

Work with Crest & Cove Creative

Ready to translate Grand Strand market data into listing positioning, pricing tiers, and guest-guide copy?

We help hosts and investors in Grand Strand with sub-market positioning analysis, seasonal calendar architecture, anti-commodity listing merchandising, and guest guidebooks tuned to how guests actually search. If you want hands-on help implementing any of that on your property, our team takes a limited number of new engagements per quarter. Reach out at crestcove.co — we'll take an honest look at where your listing stands and tell you plainly whether we can help.

Frequently Asked Questions

Is Myrtle Beach a good STR investment in 2026? For compliantly zoned, differentiated inventory in the overlay zone or premium sub-markets — yes, as a volume, drive-market beach play. Portfolio-average economics are modest ($24,391/yr on AirROI); median actively-rented units perform better. Supply grew 52.4% YoY, while Q3 2025 demand softened — underwrite conservatively and deliberately pick the segment and sub-market.

Myrtle Beach vs. North Myrtle Beach for investment? Myrtle: lower entry, lower ADR ($251), brutal condo competition. North Myrtle: higher ADR ($372), house-heavy repeat-family demand, higher gross ($33,593 portfolio avg), but proposed permit and responsible-agent tightening. Match property type to the market's actual guest — not the cheaper purchase price alone.

How much can you make on a Grand Strand Airbnb? Range: $24,000–$42,000 (Myrtle portfolio to median) up to $58,000+ (North Myrtle median actively-rented). Top Cherry Grove houses exceed $54,000–$90,000. July peak months run $6,500–$9,300 per listing; January troughs run $1,570–$2,100.

What is the biggest risk for Grand Strand STR investors in 2026? Occupancy compression — 33–80% YoY supply growth plus 2025 demand softening (rain, Canadian decline, inflation). ADR has held; per-listing booked nights have not. HOA restrictions and regulatory tightening (NMB, Pawleys, pending S.442) are the second-tier risks platforms omit.

Does the Myrtle Beach conversion overlay help investors? Generally, yes for overlay-zone multi-unit visitor lodging — it prevents STR buildings from converting to long-term apartments, protecting supply and lodging-tax base. It does not legalize STRs in prohibited R-zones west of Kings Highway.

Is Pawleys Island a good STR investment? Higher ADR ($379) and character, but regulatory status on the incorporated barrier island is unconfirmed in public sources — most inventory is unincorporated mainland governed by Georgetown County. Verify STR legality on the specific parcel; 49.4% of Pawleys-area listings require 30+ night minimums on AirROI.

What property type has the lowest supply growth on the Grand Strand? Garden City Beach at +20.8% YoY on AirROI — versus +52.4% Myrtle, +51.8% North Myrtle, +70% Murrells Inlet, +79.7% Pawleys. The least oversupplied beach sub-market in the dossier.

Should I invest in the Hammock Coast instead of Myrtle Beach? Consider it when you want higher ADR and differentiation (Murrells Inlet ~$408, Pawleys ~$379) and can accept thinner data and heavier regulation — especially on incorporated Pawleys Island, where STR legality must be verified parcel by parcel before acquisition.

About the Authors

Crest & Cove Creative is a Southeast-focused short-term rental marketing agency founded by Thomas Garner and Jacob Mishalanie. We build direct-booking brands, listing-optimization systems, and market-specific content strategies for independent STR operators across the Gulf Coast, Appalachian Mountains, Coastal Georgia, the Carolinas, Virginia, and the Southeast lake country.

Sources

AirROI — Myrtle Beach, North Myrtle Beach, Surfside Beach, Garden City Beach, Murrells Inlet, Pawleys Island, Litchfield Beach, Conway market reports, Jun 2025–May 2026. Airbtics — Myrtle Beach and North Myrtle Beach annual revenue. Rabbu — Myrtle Beach metro median. Tourism Works for the Grand Strand — 2024 economic impact (18.2M visitors, $13.2B spending). MyHorryNews — Q3 2025 accommodations-tax decline (−10.8%). Post & Courier — Grand Strand vs. SC statewide tourism 2025. WMBF — Myrtle Beach conversion overlay (Dec 10, 2024). City of North Myrtle Beach — STR page. SC Legislature — S.442. PlayGolfMyrtleBeach — golf economic impact ($1.6B).