← Back to Articles

Sixty West Funds Targets Oceanfront Property in Nation’s #2 Fastest Growing MSA, Myrtle Beach

Posted on

REPORT: Florida, Texas and Carolinas home to many of America’s fastest growing cities

To determine the fastest growing U.S. cities, 24/7 Wall St. reviewed population change between July 2010 and July 2018 (the latest available data) in every U.S. metro area with data from the U.S. Census Bureau’s Population Estimates Program. Figures on each component of population growth – births, deaths, and international and domestic migration – also came from this report and are from April 2010 to July 2018.

Employment change between 2010 and 2018 came from the Bureau of Labor Statistics’ Quarterly Census of Employment and Wages. 2018 unemployment rates came from the Bureau of Labor Statistics’ Local Area Unemployment Statistics. Median household income, poverty rate, SNAP recipiency rate, and demographic data are five-year averages from the U.S. Census Bureau’s 2017 American Community Survey.

Myrtle Beach, South Carolina

Even though there were more deaths than births in Myrtle Beach over the last eight years, enough people moved to the metro area to record a near nation-leading population growth of 27.1%. Over 100,000 more people moved to the metro area than moved out between 2010 and 2018. Job growth in the metro area was even more staggering over the same period. There are now over 53,000 more people working in Myrtle Beach than there were in 2010, a 50.5% increase. Nationwide, employment grew by 12.5% over the same period.

  • 2010-2018 pop. growth: +27.1% (102,569)
  • 2018 unemployment: 0%
  • 2010-2018 employment change: +50.5% (+53,329)
  • Median household income: $47,732

Sixty West Funds

Sixty West currently owns nearly 2 acres of oceanfront property in Myrtle Beach. Potential development plans include an $85 M high-rise resort hotel with on-site parking. The Sixty West controlled site is located in a Qualified Opportunity Zone which may enable tax benefits and provide potential superior returns to possible qualified investors.

 

Read the full USA Today article HERE.

Explore Sixty West Funds targeted properties including almost 2 acres of oceanfront property in Myrtle Beach HERE.