On the Grand Strand, the question is rarely whether guests will come. It is whether the specific street, zoning district and HOA allow nightly rentals, and whether the wind and flood insurance quote leaves enough room for the ratio.
In short: LendingStreet finances Myrtle Beach area vacation rentals with DSCR loans that can qualify on projected short-term rental revenue on some programs, with no W-2s or tax returns and LLC borrowers allowed. Loans start at $150,000, purchases go up to 80% LTV, and the standard minimum DSCR is 1.0x. The City of Myrtle Beach limits short-term rentals to certain zoning districts, so many investors buy in North Myrtle Beach, Surfside Beach, Garden City or unincorporated Horry County, where the rules differ. Confirm the zoning and license rules for the exact parcel before you write an offer.
The City of Myrtle Beach does not treat every neighborhood the same. Short-term rentals are generally permitted in the oceanfront resort and commercial districts, while many interior single-family neighborhoods are zoned against rentals of less than a month. A house a few blocks off Ocean Boulevard can fall on either side of that line, so check the zoning map and ask the city's planning and business license staff before relying on nightly income.
North Myrtle Beach, with its Cherry Grove, Ocean Drive, Crescent Beach and Windy Hill sections, has a long history of vacation rental houses and second-row duplexes. Surfside Beach, Garden City Beach and Murrells Inlet to the south also see heavy vacation rental use, though Garden City and Murrells Inlet sit in unincorporated Horry or Georgetown County and follow county zoning. Pawleys Island and Litchfield, in Georgetown County, attract longer family stays.
HOAs matter as much as zoning. Many master-planned communities in Carolina Forest, Market Common and Barefoot Resort set minimum lease terms, and some ban rentals under 30 days outright.
| Area | Who sets STR rules | Typical property | What to check |
|---|---|---|---|
| Myrtle Beach oceanfront and resort districts | City of Myrtle Beach | Oceanfront condos, beach houses | Zoning district, city business license, condo rental program |
| Myrtle Beach interior neighborhoods | City of Myrtle Beach | Single-family homes | Many residential zones bar stays under a month |
| North Myrtle Beach | City of North Myrtle Beach | Beach houses, second-row duplexes, condos | City license, accommodations tax registration, HOA |
| Surfside Beach | Town of Surfside Beach | Beach cottages and raised homes | Town license and any rental registration |
| Garden City, Murrells Inlet, Little River | Horry or Georgetown County | Raised homes, condos, canal homes | County zoning, county license, flood zone |
South Carolina charges state sales tax plus a state accommodations tax on stays of less than 90 days, and cities and counties along the coast add local accommodations and hospitality taxes. Booking platforms collect some of these, but not always all of them, so many owners register directly with the South Carolina Department of Revenue and the local jurisdiction.
Each city or the county also requires a business license for a rental. Budget the license fee, any local rental registration and the cost of a property manager if you live outside the area, and confirm the current requirements with the city or county where the property sits.
Revenue here is concentrated. Summer weeks from Memorial Day through Labor Day carry most of the year's income for many beach houses, spring brings golf groups and youth sports tournaments, and fall shoulder weeks can still book well. Winter is quiet, and some owners take monthly snowbird bookings from January through March.
That pattern is why the revenue projection matters. A projection built on peak-week rates without realistic winter occupancy will overstate the ratio. Ask for a projection that shows each month, and keep reserves for the slow season.
On some programs, the loan qualifies on projected short-term rental revenue, such as a third-party revenue projection for the address, rather than a 12-month lease. Programs differ on how much of that projection they count, and some use the appraiser's market rent analysis instead. If your projection comes in lower than you expected, see our guide to a low AirDNA projection.
If you already own the property and have a booking history, a refinance can use actual results on some programs. Our STR DSCR refinance page covers what records help.
This example is illustrative and not a quote. An investor buys a four-bedroom second-row house in North Myrtle Beach for $575,000. A third-party projection estimates $72,000 in gross bookings a year, or $6,000 a month.
At 75% LTV, the loan is $431,250 and estimated principal and interest is about $3,015 a month. Property taxes are budgeted at $310 a month, and wind, hazard and flood insurance at $560. There is no HOA. The total monthly payment is about $3,885.
Counting the full projection, DSCR is about 1.54x. If the program counts only 80% of projected revenue, DSCR is about 1.24x. Either way it clears 1.0x, with room for a slower summer.
| Item | Full projection | 80% of projection |
|---|---|---|
| Purchase price | $575,000 | $575,000 |
| Loan amount (75% LTV) | $431,250 | $431,250 |
| Estimated principal and interest | $3,015 | $3,015 |
| Property taxes | $310 | $310 |
| Insurance (wind, hazard, flood) | $560 | $560 |
| Total monthly payment | $3,885 | $3,885 |
| Monthly revenue counted | $6,000 | $4,800 |
| DSCR | About 1.54x | About 1.24x |
South Carolina taxes a legal residence at a 4% assessment ratio, but rentals and second homes are assessed at a 6% assessment ratio, and they do not get the school operating millage exemption a primary residence receives. The seller's bill can therefore understate what you will pay.
Ask the Horry County or Georgetown County assessor how the parcel will be classified after the sale, and budget on the 6% assessment ratio. Reassessment happens on a multi-year cycle, and a sale can reset the taxable value.
Coastal Horry County carries real hurricane and flood risk. Many oceanfront and near-ocean properties get wind coverage through the South Carolina Wind and Hail Underwriting Association or a private carrier, and homes in mapped flood zones need flood insurance. Get both quotes early, along with an elevation certificate if one exists.
Oceanfront condo towers often run rental programs, front desks or shared revenue arrangements. Condo-hotel style units can be harder to finance, and eligibility varies by program, so send the HOA documents before you commit.
Our investor loans are business-purpose loans on non-owner-occupied property, from Little River and Cherry Grove down to Pawleys Island. Send the address, price and revenue projection through the form below or call (877) 298-1001, and we will run the ratio on realistic taxes and insurance and come back with options. For statewide rules, see our South Carolina STR page.
No. The city generally limits stays under a month to certain resort and commercial districts, and many residential neighborhoods prohibit them. Check the zoning district and HOA for the exact address.
North Myrtle Beach has a large stock of vacation houses and duplexes used for weekly rentals, but it has its own license, tax and HOA rules. Confirm them for the specific property.
On some programs, yes. A third-party revenue projection can stand in for a lease, and programs differ in how much of it they count.
State sales and accommodations taxes apply to stays under 90 days, plus local accommodations and hospitality taxes. Platforms collect some of them; register for the rest.
Rentals and second homes are assessed at a 6% assessment ratio instead of the 4% legal residence ratio, and they lose the school operating millage exemption.
Sometimes. Condo-hotel style projects can be harder to finance and eligibility varies by program. Send the HOA documents early.
Timing depends on the appraisal, insurance and title. A complete file with insurance quotes and HOA documents moves faster.
Our investor loans are business-purpose loans on non-owner-occupied property, so the home must be run as a rental, not as your residence.
2-3 competing quotes from 30+ capital sources. No credit pull. No commitment.
By clicking, you provide express written consent to be contacted by LendingStreet (NMLS #1734316) via SMS, phone, or email, possibly using automated technology, regarding your loan inquiry. Reply STOP to opt out. Consent is not required to obtain services. See our Privacy Policy and Terms.