The rent prices in real estate in Myrtle Beach, in the South Carolina region have risen considerably in the last couple of months. There has been a strong rise in the rent prices this city.
The price per sq.feet in Myrtle Beach has risen strongly during the last 6 months. In December, the average price per sq.feet was $1.15. In the following month the price per sq.feet fell to $1.09. The price for the following two months in (February, March) had a considerable rise of 285 %. The price per sq.feet has had a considerable rise of 252 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $2.16 to $5.43 during April, and May.
When referring to the price in Myrtle Beach (cities), there have hardly been any changes in the last 6 months. In our first sample month during December, the average price is $1,097. In January This price remains at $1,083. During the following two months (February, March) the price has had an average rise from $1,090 to $1,191. During the last two months, the average price has barely gone through any changes with regard to the previous average values going from an average value of $1,140.5 and $1,137.5 between April and May.
The graph displaying the average rent price for bedrooms illustrates that those properties with 1 bedroom are the most affordable ones. At a price of $1,129 they are 26 % more affordable than the average price for Myrtle Beach . The properties with the highest average price have 4 bedrooms, Their price is 62 % more expensive than the average. After that we have properties with 3 bedrooms priced at $1,368.
With regard to the average price per sq.feet, those properties with 4 bedrooms are the most affordable ones at a cost of $0.82 / sq.feet, with an average $4.1 / sq.feet price in Myrtle Beach. The properties with the most expensive average prices have 1 bedroom. They are 47 % more expensive than the average followed by properties with 2 bedrooms with a price at $3.36 / sq.feet.
The graph displaying the average rent prices displays the property type "House" as the most affordable one. At an cost of $1,129 it is 16 % more affordable than the average price in Myrtle Beach. "Condo" is seen as the second most affordable property type. The most expensive property type is "Townhouse" followed by "". At a price of $1,075 it is 5 % more expensive than the average price.
According to the average cost per sq.feet, the most affordable property is "Condo" at an average price of $3.68 / sq.feet followed by "House" priced at $5.96 / sq.feet. "Townhouse" is the most expensive type of property with a $6 / sq.feet value followed by "House" with an average price of $5.96 / sq.feet.