MARKET SNAPSHOT

Myrtle Beach q1 2026

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AVERAGE RENT

$1,512 Q1 2026

OCCUPANCY RATE

88.9% Q1 2026

NET ABSORPTION

1,421 T4Q

ANNUAL RENT CHANGE

-1.5% Q1 2026

ANNUAL OCCUPANCY CHANGE

-40 BPS

UNIT COMPLETIONS

1,020 T4Q

KEY TAKEAWAYS

Demand momentum is strengthening with trailing 12-month absorption outpacing deliveries by 40%, with quarterly absorption above long-term norms even with extremely limited new completions.

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The supply cycle has effectively ended as the number of deliveries over the past four quarters fell 61% to 1,020 units, construction starts dropped to zero from 753 one year ago, and CoStar reports no units are underway in the market, removing a primary headwind.

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Average rents are down 1.5% from a year ago but up 0.5% quarter-over-quarter, marking the first quarterly gain since Q2 2025. Although stabilized occupancy remains under pressure from the past supply wave, the pace of compression is narrowing.

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MARKET OUTLOOK

Myrtle Beach appears to be at a clear inflection point, with the development pipeline effectively depleted and no meaningful new supply poised to deliver in the...

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