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Real Estate Prices & Overview

Market Common median real estate price is $405,144, which is more expensive than 73.4% of the neighborhoods in South Carolina and 53.9% of the neighborhoods in the U.S.

The average rental price in Market Common is currently $2,916, based on NeighborhoodScout's exclusive analysis. The average rental cost in this neighborhood is higher than 94.6% of the neighborhoods in South Carolina.

Market Common is a remote neighborhood (based on population density) located in Myrtle Beach, South Carolina.

Market Common real estate is primarily made up of small (studio to two bedroom) to medium sized (three or four bedroom) single-family homes and apartment complexes/high-rise apartments. Most of the residential real estate is occupied by a mixture of owners and renters. Many of the residences in the Market Common neighborhood are newer, built in 2000 or more recently. A number of residences were also built between 1970 and 1999.

Vacant apartments or homes are a major fact of life in Market Common. The current real estate vacancy rate here is 31.1%. This is higher than the rate of vacancies in 95.8% of all U.S. neighborhoods. In addition, most vacant housing here is vacant year round. This can sometimes be the case in neighborhoods dominated by new construction that is not yet occupied. But often neighborhoods with vacancy rates this high are places that can be plagued by a protracted vacancy problem. If you live here, you may find that a number of buildings in your neighborhood are actually empty.

Notable & Unique Neighborhood Characteristics

The way a neighborhood looks and feels when you walk or drive around it, from its setting, its buildings, and its flavor, can make all the difference. This neighborhood has some really cool things about the way it looks and feels as revealed by NeighborhoodScout's exclusive research. This might include anything from the housing stock to the types of households living here to how people get around.

Real Estate

Homes built from 2000 through today make up a higher proportion of the Market Common neighborhood's real estate landscape than 98.3% of the neighborhoods in America. When you are driving around this neighborhood, you'll notice right away that it is one of the newest built of any, with the smell of fresh paint, and the look of young landscaping nearly everywhere you look. In fact, 88.5% of the residential real estate here is classified as newer. In fact, the concentration of newer homes here is so great that they completely dominate the landscape. In most neighborhoods, there is a mixture of ages of residential real estate, but here it is almost completely built during one time frame: 2000 through today.

In addition, vacant homes and apartments are a significant characteristic of this neighborhood. In fact, with 31.1% of the residential real estate vacant, the Market Common neighborhood claims the distinction of having a higher vacancy rate than 95.8% of the neighborhoods in America. This can either be because much of the property is seasonally occupied, like in many vacation areas, or that much of the real estate is more permanently abandoned.

Furthermore, one of the notable things about Market Common is that it is one of the quietest neighborhoods in America, according to NeighborhoodScout's exclusive analysis and quantitative rating of quietness. When you are here, you will find it to be very quiet. If quiet and peaceful are your cup of tea, you may have found a great place for you.

People

If you are planning to retire in South Carolina, this neighborhood should be on your must-see list. For many reasons, Market Common may be considered a retiree's dream neighborhood. According to NeighborhoodScout's exclusive analysis and metrics, it's peaceful and quiet, has above average safety from crime compared to other neighborhoods in South Carolina, while also offering a diverse range of housing options. This, along with the vibrant mix of very educated seniors and other age groups who choose to live here, makes the neighborhood more retiree-friendly than 95.7% of neighborhoods in SC. If a South Carolina retirement is in your future, this neighborhood should be one of the places you visit.

Diversity

Did you know that the Market Common neighborhood has more Russian and English ancestry people living in it than nearly any neighborhood in America? It's true! In fact, 10.0% of this neighborhood's residents have Russian ancestry and 28.5% have English ancestry.

Market Common is also pretty special linguistically. Significantly, 2.7% of its residents five years old and above primarily speak German/Yiddish at home. While this may seem like a small percentage, it is higher than 97.8% of the neighborhoods in America.

The Neighbors

How wealthy a neighborhood is, from very wealthy, to middle income, to low income is very formative with regard to the personality and character of a neighborhood. Equally important is the rate of people, particularly children, who live below the federal poverty line. In some wealthy gated communities, the areas immediately surrounding can have high rates of childhood poverty, which indicates other social issues. NeighborhoodScout's analysis reveals both aspects of income and poverty for this neighborhood.

The neighbors in the Market Common neighborhood in Myrtle Beach are upper-middle income, making it an above average income neighborhood. NeighborhoodScout's exclusive analysis reveals that this neighborhood has a higher income than 66.7% of the neighborhoods in America. With 31.6% of the children here below the federal poverty line, this neighborhood has a higher rate of childhood poverty than 83.5% of U.S. neighborhoods.

What we choose to do for a living reflects who we are. Each neighborhood has a different mix of occupations represented, and together these tell you about the neighborhood and help you understand if this neighborhood may fit your lifestyle.

In the Market Common neighborhood, 46.6% of the working population is employed in executive, management, and professional occupations. The second most important occupational group in this neighborhood is sales and service jobs, from major sales accounts, to working in fast food restaurants, with 30.1% of the residents employed. Other residents here are employed in clerical, assistant, and tech support occupations (14.6%), and 8.7% in manufacturing and laborer occupations.

Languages

The languages spoken by people in this neighborhood are diverse. These are tabulated as the languages people preferentially speak when they are at home with their families. The most common language spoken in the Market Common neighborhood is English, spoken by 80.2% of households. Other important languages spoken here include Polish and German/Yiddish.

Ethnicity / Ancestry

Boston's Beacon Hill blue-blood streets, Brooklyn's Orthodox Jewish enclaves, Los Angeles' Persian neighborhoods. Each has its own culture derived primarily from the ancestries and culture of the residents who call these neighborhoods home. Likewise, each neighborhood in America has its own culture – some more unique than others – based on lifestyle, occupations, the types of households – and importantly – on the ethnicities and ancestries of the people who live in the neighborhood. Understanding where people came from, who their grandparents or great-grandparents were, can help you understand how a neighborhood is today.

In the Market Common neighborhood in Myrtle Beach, SC, residents most commonly identify their ethnicity or ancestry as English (28.5%). There are also a number of people of German ancestry (20.5%), and residents who report Italian roots (18.0%), and some of the residents are also of Irish ancestry (13.5%), along with some Russian ancestry residents (10.0%), among others.

Getting to Work

Even if your neighborhood is walkable, you may still have to drive to your place of work. Some neighborhoods are located where many can get to work in just a few minutes, while others are located such that most residents have a long and arduous commute. The greatest number of commuters in Market Common neighborhood spend between 15 and 30 minutes commuting one-way to work (50.0% of working residents), which is shorter than the time spent commuting to work for most Americans.

Here most residents (44.7%) drive alone in a private automobile to get to work. In addition, quite a number also carpool with coworkers, friends, or neighbors to get to work (20.4%) . In a neighborhood like this, as in most of the nation, many residents find owning a car useful for getting to work.


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