Feb
27

Myrtle Beach Apartment Vacancy Down to 7.7%

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According to Real Data, the Myrtle Beach area’s vacancy rate has improved to 7.7% over the past year. Demand was strong during this time period with the Highway 501 submarket recording the highest renter gains. In the area, there are three communities currently under-construction and two communities proposed. Rental rates increased by 5.8% over the past twelve months, pushing the current average monthly rent up to $859.

With a forecast of continuing healthy demand, occupancy rates should remain in the 92%-93% range. Rent growth will slow but also remain healthy.

mb vacancy

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    Categories : Myrtle Beach

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