Everyone thinks of Myrtle Beach as a vacation town. Honestly, I don’t blame them. Twenty million visitors a year will do that to your reputation. But the economic development numbers tell a different story. Average wages for recruited companies have jumped from $14.50 per hour in 2014 to $25.52 in 2025. That’s a 76% increase. Something is shifting here.
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Seasonal demand risk: Tourism still dominates economy. Summer and winter seasons drive spikes in demand, vacancy, and pricing volatility. -
New demand types: Logistics tenants are different from hospitality tenants. They need 24/7 access, flex space, and different infrastructure. -
Labor market evolution: Shifting from hospitality workers to logistics and industrial workers requires training and wage adjustments. -
I-95 proximity value: The I-95 corridor location is the core value driver. This attracts regional distribution regardless of local employment trends.
The economic development pipeline
The Myrtle Beach Regional Economic Development Corporation (MBREDC) had 42 active projects in their pipeline heading into 2026. They attracted $225 million in new capital investment in the prior year. These aren’t hotels and mini-golf courses. These are manufacturing, distribution, and technology companies choosing the Grand Strand.
The Myrtle Beach Reality Check
Myrtle Beach tourism is resilient, but it is not a growth engine anymore. The real opportunity is logistics companies using the coast as a regional warehouse hub. Expect steady, modest growth in warehouse space, not explosive real estate appreciation. Pricing will be stable but limited by the seasonal nature of the broader economy.
| Metric | 2014 | 2025 | Change |
|---|---|---|---|
| Avg wage (recruited companies) | $14.50/hr | $25.52/hr | +76% |
| Active MBREDC projects | — | 42 | — |
| New capital investment (annual) | — | $225M | — |
That wage jump tells the real story. Myrtle Beach isn’t just attracting tourism and retail jobs anymore. The companies moving in are paying nearly double what recruited firms paid a decade ago. That changes the economy fundamentally.
Manufacturing is arriving
Asis Boats established manufacturing operations in the Myrtle Beach area. Galivants Ferry Sawmill invested $10 million in a new facility with 18 jobs. These are smaller scale than what you see in Greenville or Charleston, but they’re significant for a market that’s been almost entirely dependent on tourism and construction.
The diversification effort is intentional. MBREDC has been actively recruiting manufacturing and distribution companies that can operate year-round, providing stable employment that doesn’t fluctuate with tourism seasons. The 42 active projects represent a pipeline that could add several hundred permanent jobs over the next two years.
Population growth drives everything
Here’s the piece that gets overlooked. Horry County’s population has grown over 30% in the last decade. People aren’t just visiting — they’re moving here. Retirees from the Northeast. Remote workers who can live anywhere and chose the beach. Young families drawn by lower costs of living compared to Charleston or the Triangle.
That population growth creates demand for commercial services that goes beyond the tourist season. Year-round residents need grocery stores, medical offices, storage, auto repair, dry cleaning — all the services that keep a real economy running. And those service businesses need commercial space.
What it means for commercial property
The Myrtle Beach industrial market is small but growing. As manufacturing and distribution companies move in, they need warehouse and production space. The existing industrial inventory is limited, which means values are rising as demand outpaces supply.
Self-storage in Myrtle Beach has a unique advantage: it serves both the permanent population and the transient one. Retirees downsizing. Seasonal residents storing belongings. New arrivals in transition. Part-time residents who split time between Myrtle Beach and somewhere else. The demand pool is broader than in most markets.
If you own commercial property in the Myrtle Beach area, don’t let the tourism label fool you. This market is diversifying, wages are rising, and the population growth is real. Buyers who understand the Grand Strand’s trajectory are looking for opportunities.
Seller takeaway
Myrtle Beach offers solid fundamentals if you understand that you are betting on steady logistics and population growth, not tourism recovery. Call Roth Capital at 704-600-3839 to discuss your property positioning in this diversifying market.
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