Conway’s current Zillow typical home value is $289,137, while Zillow’s typical observed market rent is $1,763 a month; their relationship implies a 7.3% gross yield before operating costs. The city’s Zillow price-to-income multiple is 5.1x, and annual Zillow rent equals 37.4% of median household income. These affordability ratios compare broad city measures; they are not a mortgage-payment estimate or a property-level cash-flow result.
Conway has 9,573 housing units; renters occupy 34.6% of occupied units, and the citywide vacancy rate is 8.5%. ACS reports a $260,900 owner-reported median home value and $866 median gross rent across its surveyed occupied-housing measures; gross rent includes contract rent plus selected utilities. Those ACS figures do not represent the same measure or period as Zillow’s typical home value and observed market rent, so they should not be averaged or otherwise blended.
Within the city’s stock, single-family units account for 77.3% and large multifamily buildings for 2.8%. City renter stress is substantial: 52.1% of renters pay at least 30% of income toward rent. Of vacant city units, 17.5% are classified for rent and 17.6% as seasonal; these survey vacancy reasons do not identify available investment inventory. Population is 14.4% higher across the overlapping ACS vintages, a comparison that can reflect boundary changes as well as population differences. Median household income is $56,650, while poverty is 21.0% and unemployment is 8.3%; these are descriptive demand constraints, not proof of tenant quality or leasing speed.
In Horry County, county Realtor figures show 6,139 active listings, so any offer should be checked against current county comparable sales and competing rentals rather than citywide Zillow alone. In the broader Myrtle Beach metro, metro supply is 5.7 months, which frames broader sale-market competition rather than Conway-only conditions. The national Freddie Mac 30-year mortgage rate is 6.7%, a financing-sensitivity reference rather than a Conway borrowing quote.
Main underwriting limits are that gross yield excludes taxes, insurance, maintenance, management, vacancy loss, financing and capital spending, while citywide Zillow and ACS measures cannot price a parcel. Before underwriting, verify the address’s condition, legal use, bedroom count, lease terms, utilities paid, recent nearby closed sales and active rental comparables. Obtain parcel tax bills, insurance and flood-risk quotes, inspection findings, repair scope, homeowner-association obligations and any rental restrictions.