Compare Myrtle Beach, SC mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Myrtle Beach.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Myrtle Beach. Plus, shopping lenders is free and there is no obligation.
February 8, 2023
Below we provide helpful information on the real estate market, home prices and housing affordability in Myrtle Beach. Understand how much you need to earn to afford a home in Myrtle Beach, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Myrtle Beach fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Myrtle Beach is right for you.
The median home value for Myrtle Beach, SC (Horry County) is $258,164
Based on current mortgage rates and a 10% down payment, you need to make $42,299 per year to buy the median priced home in Myrtle Beach
With this income, you could qualify for a $232,348 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Myrtle Beach is $980
The median household income for Myrtle Beach, SC (Horry County) is $58,036
Based on this income, you can afford a home valued at approximately $354,213
The home price you can afford to buy based on household income in Myrtle Beach is 137% of the median home value which means housing prices are average. Myrtle Beach (Horry County) ranks 43 out of 46 counties in South Carolina and 2,737 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Myrtle Beach, SC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Myrtle Beach (Horry County) below.
Conforming loan limits for Myrtle Beach, SC
FHA loan limits for Myrtle Beach, SC
VA loan limits for Myrtle Beach, SC