In the dynamic world of Airbnb hosting, particularly in popular beach destinations, understanding and leveraging seasonal trends is crucial. For property owners and managers, aligning with these trends is essential for optimizing pricing, boosting occupancy rates, and refining marketing strategies.
Let’s consider top beach destinations in the South Carolina to illustrate the impact of seasonal trends:
Edisto Beach
A quieter, more relaxed beach destination, Edisto Beach is ideal for those looking to escape the crowds and enjoy a more peaceful environment.
🔍 1-Bedroom Units Overview ( 48 Listings):
Airbnb Occupancy Rate: 59%
- Lowest Occupancy: 12% (Nov & Dec 2023)
- Highest Occupancy: 100% (July 2023 & March, June 2024)
Daily Rate: $145
- Lowest Daily Rate: $113 (Jan 2024)
- Highest Daily Rate: $177 (April 2024)
Annual Revenue: $32,183
- Lowest Monthly: $622 ( Dec 2023)
- Highest Monthly: $5.7K (June 2023)
Hilton Head
Famous for its upscale resorts, golf courses, and pristine beaches, Hilton Head Island offers a mix of relaxation and recreational activities in a serene setting.
🔍 1-Bedroom Units Overview ( 684 Listings):
Airbnb Occupancy Rate: 68%
- Lowest Occupancy: 23% ( Dec. 2023)
- Highest Occupancy: 97% ( July 2024)
Daily Rate: $167
- Lowest Daily Rate: $132 (Oct. 2023)
- Highest Daily Rate: $174 (June 2024)
Annual Revenue: $42,841
- Lowest Revenue: $1.3K (Dec. 2023)
- Highest Revenue: $5.3K (July 2024)
Myrtle Beach
Known for its long, wide sandy beaches, vibrant boardwalk, and numerous attractions, Myrtle Beach is a top destination for family fun and entertainment.
🔍 1-Bedroom Units Overview (2,268 Listings)
Airbnb Occupancy Rate: 60%
- Lowest Occupancy: 31% (Dec 2023 & Jan. 2024)
- Highest Occupancy: 100% (July 2023)
Daily Rate: $147
- Lowest Daily Rate: $80 (Oct. 2023)
- Highest Daily Rate: $195 (Feb. 2024)
Annual Revenue: $33,953
- Lowest Monthly: $1.1K (Oct. 2023)
- Highest Monthly: $6.3K (July 2023)
Isle of Palms
Located near Charleston, Isle of Palms features beautiful beaches, family-friendly amenities, and various water activities, making it a popular spot for a beach vacation.
🔍 1-Bedroom Units Overview (124 Listings)
Airbnb Occupancy Rate: 73%
- Lowest Occupancy: 23% (Jan. 2024)
- Highest Occupancy: 100% (July 2023 & May, June 2024)
Daily Rate: $281
- Lowest Daily Rate: $224 (Oct. 2023)
- Highest Daily Rate: $305 ( July 2023)
Annual Revenue: $76,856
- Lowest Monthly: $2.2K (Jan 2024)
- Highest Revenue: $9.8K (July 2023)
Folly Beach
Just a short drive from Charleston, Folly Beach is known for its laid-back vibe, great surfing conditions, and charming local dining options.
🔍 1-Bedroom Units Overview (74 Listings)
Airbnb Occupancy Rate: 77%
- Lowest Occupancy: 31% (Jan. 2024)
- Highest Occupancy: 100% (June & July 2023)
Daily Rate: $213
- Lowest Daily Rate: $160 (Nov. & Dec 2023)
- Highest Daily Rate: $246 (July 2023)
Annual Revenue: $61,863
- Lowest Revenue: $1.8K (Jan. 2024)
- Highest Revenue: $8.2K (July 2023)
Kiawah Island
Known for its natural beauty and exclusive resorts, Kiawah Island offers a tranquil beach experience with scenic views and abundant wildlife.
🔍 1-Bedroom Units Overview (82 Listings):
Airbnb Occupancy Rate: 60%
- Lowest Occupancy: 23% (Jan. 2024)
- Highest Occupancy: 98% (June 2024)
Daily Rate: $201
- Lowest Daily Rate: $178 (Oct. 2023)
- Highest Daily Rate: $256 (July 2023)
Annual Revenue: $45,451
- Lowest Revenue: $1.6K (Jan. 2024)
- Highest Revenue: $7.0K (July 2023)
A small, family-friendly beach town near Myrtle Beach, Surfside Beach offers a more relaxed atmosphere while still providing easy access to nearby attractions.
🔍 1-Bedroom Units Overview (38 Listings):
Airbnb Occupancy Rate: 57%
- Lowest Occupancy: 28% (Nov. 2023)
- Highest Occupancy: 100% (July 2023 & June 2024)
Daily Rate: $164
- Lowest Daily Rate: $134 (Oct. 2023)
- Highest Daily Rate: $203 (July 2023)
Annual Revenue: $35,400
- Lowest Revenue: $1.3K (Nov. 2023)
- Highest Revenue: $6.5K (July 2023)
Seabrook Island is popular for its stunning natural beauty, exclusive atmosphere, diverse outdoor activities, and proximity to Charleston, South Carolina.
🔍 1-Bedroom Units Overview (61 Listings):
Airbnb Occupancy Rate: 66%
- Lowest Occupancy: 27% (Jan. 2024)
- Highest Occupancy: 96% (July 2023)
Daily Rate: $204
- Lowest Daily Rate: $198 (Sept. 2023)
- Highest Daily Rate: $216 (May 2024)
Annual Revenue: $50,494
- Lowest Revenue: $1.9K (Jan. 2024)
- Highest Revenue: $6.5 (July 2023)
Garden City
Garden City, South Carolina, is popular for its charming beachfront, relaxed atmosphere, and proximity to Myrtle Beach, offering a blend of tranquil coastal living and easy access to vibrant entertainment options.
🔍 1-Bedroom Units Overview (104 Listings):
Airbnb Occupancy Rate: 52%
- Lowest Occupancy: 21% (Jan. 2024)
- Highest Occupancy: 82% (June 2023)
Daily Rate: $158
- Lowest Daily Rate: $120 (Oct. 2023)
- Highest Daily Rate: $179 (July 2023)
Annual Revenue: $32,430
- Lowest Revenue: $1.2K (Jan. 2024)
- Highest Revenue: $5.0 (June 2023)
Key Findings on South Carolina Beachfront Markets
Here’s a summary of the key findings for each of the beachfront destinations in South Carolina, focusing on occupancy rates, daily rates, and annual revenue for 1-bedroom Airbnb units:
Daily Rate Trends
- Highest Peak Rate: Isle of Palms reaches the highest peak daily rate at $305 in July 2023.
- Lowest Overall Rate: Myrtle Beach has the lowest overall daily rate at $80 in October 2023.
Occupancy Rates
- High Occupancy During Peak Season: Folly Beach, Myrtle Beach, and Isle of Palms all achieve 100% occupancy during peak periods, notably in summer months.
- Lower Occupancy: Off-peak occupancy is much lower, with Garden City at 21% in January 2024, and Edisto Beach at 12% in November and December 2023.
Revenue Trends
- Top Revenue: Isle of Palms leads with the highest annual revenue at $76,856.
- Lower Revenue: Garden City and Edisto Beach have the lowest annual revenues, at $32,430 and $32,183, respectively.
Seasonal Trends
- Peak Season Highs: Peak seasons drive the highest daily rates and occupancy, with Isle of Palms reaching $305 per night and Folly Beach achieving full occupancy in June and July.
- Off-Peak Seasons: Off-peak periods see significant declines, with Myrtle Beach’s daily rate dropping to $80 and Garden City’s occupancy falling to 21% in January.
Summary
South Carolina’s beachfront markets exhibit significant seasonal variations. Isle of Palms experiences the highest peak daily rates and annual revenue, reflecting its high demand during peak seasons. Conversely, Myrtle Beach offers the lowest rates in the off-season, and occupancy rates plummet during these periods, with Garden City and Edisto Beach seeing much lower performance in off-peak months.
