Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 9,740 people, 4,576 houses or apartments, and a median cost of homes of $646,132, Murrells Inlet house prices are not only among the most expensive in South Carolina, Murrells Inlet real estate also is some of the most expensive in all of America.
Single-family detached homes are the single most common housing type in Murrells Inlet, accounting for 55.36% of the town's housing units. Other types of housing that are prevalent in Murrells Inlet include mobile homes or trailers ( 19.67%), large apartment complexes or high rise apartments ( 14.43%), and a few row houses and other attached homes ( 8.10%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Murrells Inlet. Owner-occupied housing accounts for 85.18% of Murrells Inlet's homes, and 71.15% have either three or four bedrooms, which is average sized relative to America.
Murrells Inlet homes and real estate are some of the newest in America. 51.37% of Murrells Inlet's housing was built since 2000, making the town have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Murrells Inlet real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 43.17%), and between 1940-1969 ( 5.08%).
Vacant housing appears to be an issue in Murrells Inlet. Fully 16.75% of the housing stock is classified as vacant. Left unchecked, vacant Murrells Inlet homes and apartments can be a drag on the real estate market, holding Murrells Inlet real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Murrells Inlet has experienced some of the highest home appreciation rates of any community in the nation. Murrells Inlet real estate appreciated 129.32% over the last ten years, which is an average annual home appreciation rate of 8.65%, putting Murrells Inlet in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Murrells Inlet definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Murrells Inlet that despite a nationwide downturn in the housing market, Murrells Inlet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Murrells Inlet appreciation rates continue to be some of the highest in America, at 15.58%, which is higher than appreciation rates in 97.81% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Murrells Inlet. Murrells Inlet appreciation rates in the latest quarter were at 0.52%, which equates to an annual appreciation rate of 2.08%.
Notably, Murrells Inlet's appreciation rate in the latest quarter is one of the lowest in America.
Relative to South Carolina, our data show that Murrells Inlet's latest annual appreciation rate is higher than 90% of the other cities and towns in South Carolina.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Murrells Inlet differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Murrells Inlet - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Murrells Inlet real estate investment or home purchase decisions.
$646,132
for South carolina
for nation
4,576
$2,653 / per month