Myrtle Beach Apartment Rents Stunted by Ballooning Vacancy, Additional Supply

Rents in Myrtle Beach, South Carolina’s multifamily sector decreased 1.5% on an annual basis in the second quarter of the year. This marks the first time that annual rent growth for Myrtle Beach apartments declined since the Great Financial Crisis of 2008. The slowdown in rent growth here has been driven mostly by shifts in demand for the region’s units and the historic level of multifamily units that have been added by developers over the past three years.