South Carolina is a historical state with plenty of cultural or traditional values that attract millions of tourists. This peaceful corner is equipped with all aspects of tourism including beaches, historic districts, parks, art centers, restaurants, and much more. Booming tourism adds to the demand of the short term rental south carolina.
South Carolina is a diverse state that offers unlimited job opportunities for both locals and outsiders due to the presence of vast agricultural lands, industries, and tourism. This factor strongly attracts real estate investors to the south carolina. Moreover, the taxes for owning rental properties is also very low.
This tourist hub is also home to educational institutions including South Carolina universities, colleges, and many others, which is the driving force behind the popularity of the South Carolina market. People travel long distances to come here for educational purposes and job opportunities also which results in massive population growth and increasing demand for rental homes.
Places to Invest in The South Carolina
Location plays a key role in real estate market success. Therefore, it’s crucial to select a place in the South Carolina market that is not only suited to your budget but also helps you to reach your goals.
Finding an investment property in South Carolina with all desired features and a low rate is a hectic process. However, taking help from real estate software or data analysis through Airdna.com can create ease for you. It is a reliable source or platform that provides all types of data regarding real estate properties and helps users to estimate the cost-to-earn ratio, competition level, annual rise up in property prices, and demand for rental homes.
Some top places to invest in the South Carolina short term rental market and imported data collected by Airdna.com is listed here.
This South Carolina port city is a tourist hub because it holds multiple attractions for all types of tourists. Some famous attractions of this mesmerizing land include Charleston Harbor, a museum, aquarium, fun park, entertaining theater, and beautiful shopping venues. Therefore, the Charleston is one of the ideal locations for real estate investors.
- The Median Property Price is $ 528,523
- The Average rent is $ 301
- The revenue growth is $ 5,358
- The occupancy rate is 77%
- Active rentals are 2,293
2. Folly Beach
This peaceful city on Folly island holds multiple reasons to welcome real estate investors in the Folly beach. Unlimited excursion points, a fishing hub, live music concerts, and a long row of delicious restaurants are some main points that attract people to this heavenly land.
- The Median Property Price is $ 1.4M
- The Average rent is $ 420
- The revenue growth is $ 7,149
- The occupancy rate is 77%
- Active rentals are 1,006
Located along the South Atlantic coast this famous tourist destination is an ideal place for beach excursion lovers. Shopping outlets, unique seafood points, and a massive selection of golf links invite people to come and enjoy living in beach cities that raise the need for rental homes. And makes the Myrtle an ideal place to buy rental properties.
- The Median Property Price is $ 325K
- The Average rent is $206
- The revenue growth is $ 3,250
- The occupancy rate is 74%
- Active rentals are 10,574
To look back into history and experience the ancient lifestyle of Americans, this small town in Horry county is an ideal place. Its history-rich streets invite millions of people to visit and stay here during vacations. Therefore, investing in the Conway is always an ideal choice for real estate investors.
- The Median Property Price is $ 294,440
- The Average rent is $164
- The revenue growth is $ 2,221
- The occupancy rate is 62%
- Active rentals are 85
With a 17.6% annual rise in the Fairfax is also an ideal place that must bPropertye on your radar.
- The Median Price is $ 114000
- The Average rent is $ 203
- The revenue growth is $ 2,710
- The occupancy rate is 67%
- Active rentals are 72
With low property prices and higher occupancy rates, the Florence is the best place for investors who are looking for investment properties in South Carolina at an affordable budget. Moreover, the competition level is also low.
- The Median Property Price is $ 239.3K
- The Average rent is $ 110
- The revenue growth is $ 1,260
- The occupancy rate is 65%
- Active rentals are 80
If you are looking for a location near the North Carolina border then the Buffalo is best for you. It is located in the center of Union county and grabs the attention of real estate investors from both the south and the North Carolina market.
Reasons To Invest In the South Carolina short term Rental Market
To drive real estate investors’ interest, the short term rental south carolina market offers multiple benefits including cheap prices and a low cost of living. We are shortlisted here for some key reasons.
1. Low Cost of Living and Tax Rates
The major reason to consider the South Carolina for buying rental properties is its low cost of living. Incredible community sense, lower crime rate, natural beauty, and availability of education, job, or traveling opportunities make it an ideal place for living and growing families.
Moreover, the tax rates include sales tax, personal income tax, and real estate taxes. Therefore, people, especially retirees, always prefer to live here.
2. Wide Collection Of Properties
Price and location are the most important factors in the selection of a real estate property. And the South Carolina is enriched with all types of properties from luxurious to median homes at affordable prices.
Moreover, all areas of South Carolina are present in ideal locations that provide easy access to education and business organizations.
The best point for investing in the South Carolina short term rental market is that it offers both modern city life and the peaceful atmosphere of village life. Therefore, it is suitable for all types of budgets which is the main concern of almost all real estate investors.
3. Tourism and Economy Growth
The main reason behind the increasing demand for rental homes in South Carolina is its historic and cultural attractions that welcome all types of tourists across the world. The rapidly growing tourism sector ultimately contributes to the stability of the state’s economy.
This economic stability and consistently growing demand for rental homes appeal to real estate investors for investing in the South Carolina and earn exceptional cash on cash return.
The South Carolina short term rental market is a welcoming sign for real estate investors, who are striving for lower-price property values. For buying cheap rental homes in South Carolina, you also do not have to compromise on location, quality, and occupancy rate. Because all places are enriched with natural beauty and essentials for a good lifestyle.
Make sure to track important data from Airdna.com to make your investment in the short term rental south carolina market a perfect hit.
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