Hilton Head Island South Carolina 2020 report
Here is a graphic to show what real estate has done on Hilton Head Island this past year. I have included most of the areas where short term rentals happen. This trend seems to be continuing into 2021. One interesting thing that seems to be happening is there are more purchases being made by owners who are pulling their units out of the short term rental market. The effect this is going to have on visitors coming to Hilton Head is something I will be watching. Currently STR's are seeing a 10-15% increase in rental rates for the summer of 2021.
The long term rental market is seeing similar results only I would say the increase in rental amounts is even higher in some areas than 15%.
Hilton Head was also a top 10 market in the United States for flips in 2020.
This market is still a great area to invest. The entry point is higher than it has been in the past 10 years, but there is still some solid upside and the investment numbers do work. If you are looking to own a property here in the Low Country, now is the time to get in.
- Ron Williams
Most Popular Reply
Hi Ron, this is one I purchased exactly one year ago in North Myrtle Beach. It was my first STR after decades of LTR.
I never realized the first year success like this. Covid had no effect whatsoever as people stayed out of the major hotels and shared elevators and Sought safety in solitude. You’re 100% correct about private pools.