Retiring in Myrtle Beach: Is It the Right Place to Downsize or Buy a Second Home?
Key Takeaways:
- Myrtle Beach consistently ranks among the top 10 retirement destinations in the United States for affordability and lifestyle.
- South Carolina does not tax Social Security income and offers significant property tax relief for primary residents 65 and older.
- The Grand Strand offers both active 55+ communities and traditional neighborhoods suited to retirees.
- In 2026's buyer's market, retirees have more negotiating power and more inventory to choose from than at any point in the past five years.
- Second-home buyers should understand short-term rental rules, HOA restrictions, and insurance costs before purchasing.
Every year, thousands of retirees from the Northeast, Midwest, and Mid-Atlantic states make the move to Myrtle Beach — and for good reason. The combination of affordable housing, low taxes, warm climate, beach lifestyle, and an established retiree community makes the Grand Strand one of the most compelling retirement destinations in the country. But whether Myrtle Beach is right for you specifically depends on your lifestyle priorities, financial situation, and what you actually want your retirement to look like day to day.
This guide covers everything retirees need to know about living in Myrtle Beach — the financial case, the lifestyle reality, the best communities, and the key questions to answer before you buy. Start exploring your options by browsing Myrtle Beach homes for sale to get a feel for what your retirement budget can realistically buy on the Grand Strand.
The Financial Case for Retiring in Myrtle Beach
South Carolina's tax treatment of retirement income is one of the strongest in the Southeast. The state does not tax Social Security benefits at all. For residents 65 and older, up to $10,000 of other retirement income — pensions, 401(k) distributions, IRA withdrawals — is exempt from state income tax per person, meaning a married couple can shelter $20,000 per year. The overall state income tax rate is also lower than most northern states retirees are moving from.
Property taxes in South Carolina are among the lowest in the nation for primary residents. The legal residence exemption reduces the assessed value of your primary home, and the Homestead Exemption available to residents 65 and older exempts the first $50,000 of a home's value from property taxes entirely. This combination results in annual tax bills that genuinely shock most retirees relocating from states like New Jersey, New York, or Connecticut.
Housing costs are another significant advantage. In 2026, the Myrtle Beach market is firmly in buyer's territory — with over 90 days average on market, strong inventory, and sellers willing to negotiate. Retirees have real purchasing power right now that has not existed in this market for several years.
The Lifestyle: What Retirement Actually Looks Like in Myrtle Beach
The lifestyle question is where Myrtle Beach either wins or loses for specific retirees. Here is an honest picture:
What it offers: 60 miles of beaches. Over 100 golf courses. A deep, established retiree social infrastructure — church communities, clubs, volunteer organizations, pickleball leagues, arts groups. Warm winters that make outdoor activity comfortable year-round. Short drives to major medical centers including Grand Strand Medical Center and Conway Medical Center, with MUSC and Roper Saint Francis in Charleston within 90 minutes. Reasonable proximity to major airports (Myrtle Beach International and Wilmington, NC).
The honest tradeoffs: Summer is hot and humid, and the tourist traffic on the main strip from June through August is heavy. If your vision of retirement involves peaceful year-round walks on the beach boardwalk, be aware that summer mornings are your window. The area does not have the same cultural density — major league sports, world-class museums, top-tier performing arts — as larger metro areas. Healthcare quality is good for routine and moderate needs; for highly specialized care, patients often travel to Charleston or Charlotte.
In my experience working with retirees relocating to the Myrtle Beach area, the ones who thrive are those who genuinely embrace the outdoor and social lifestyle the area offers. The ones who struggle are those who expected urban amenities at a beach address.
Best Communities for Retirees in the Myrtle Beach Area
Active Adult (55+) Communities
The Grand Strand has a strong selection of age-restricted and active adult communities specifically designed for retirees. These typically offer amenity centers with indoor pools, fitness facilities, tennis and pickleball courts, walking trails, and organized social programming. Popular options include communities in the Carolina Forest, Murrells Inlet, and Little River areas. Prices in active adult communities generally range from the $250,000s to $450,000 for single-story villa or patio homes.
Carolina Forest
While not exclusively a retirement community, Carolina Forest is extremely popular with active retirees who want more space, newer construction, and community amenities without the 55+ restrictions. Its central location, abundance of dining and shopping, and golf course access make it a natural fit for retirees who want a full-service lifestyle. Homes range from $280,000 to $600,000 and above. Check out available Carolina Forest homes for sale for a closer look at current inventory.
Murrells Inlet and Pawleys Island
South of Myrtle Beach, Murrells Inlet and Pawleys Island attract retirees who want a quieter, more genuinely coastal lifestyle. The pace is slower, the communities more established, and the character more distinctly South Carolina than resort destination. Pawleys Island in particular appeals to retirees looking for a classic beach community with a strong sense of place. Prices range from $300,000 to well over $1 million for true island properties.
North Myrtle Beach and Little River
The northern Grand Strand — particularly the Barefoot Resort area of North Myrtle Beach and the waterway communities of Little River — offers a combination of golf, boating access, and a quieter lifestyle than central Myrtle Beach. Many retirees who want to be near the water without oceanfront price tags find this area hits the right balance. Prices range from the $250,000s for smaller homes to $700,000+ for waterway properties.
Buying a Second Home in Myrtle Beach: What to Know
Myrtle Beach is one of the top second-home and vacation property markets on the East Coast, and retirees from northern states frequently consider buying here as a winter retreat before deciding whether to relocate permanently. A few important considerations for second-home buyers:
- Short-term rental rules vary significantly. Myrtle Beach city limits restrict short-term rentals to specific zones. North Myrtle Beach requires permits. HOA rules in many condo communities further restrict or prohibit rentals. If rental income is part of your plan, verify the rules before you buy — not after.
- Insurance costs matter. Coastal properties require homeowners insurance, and many also require separate flood and wind/hail policies. Get insurance quotes early in the process — for some oceanfront and inlet properties, annual insurance costs can rival the mortgage payment.
- Property tax rates differ for second homes. South Carolina's favorable Homestead Exemption and legal residence rates apply only to primary residences. Second homes are taxed at a higher assessment ratio, which meaningfully affects annual tax costs.
- Property management. If you plan to use the property part of the year and rent or leave it vacant the rest, budget for professional property management. Coastal properties require active maintenance oversight — the climate is not forgiving of deferred upkeep.
Whether you are considering a permanent retirement move or a second home purchase, reach out to Greg Harrelson for a personalized strategy session. Greg has helped hundreds of retirees and second-home buyers find exactly the right property at the right price on the Grand Strand.
Frequently Asked Questions
Is Myrtle Beach a good place to retire?
Yes, for the right retiree. Myrtle Beach offers a compelling combination of affordable housing, low taxes on retirement income, warm climate, golf and beach lifestyle, and a large established retiree community. It is best suited to retirees who genuinely want an active outdoor and social lifestyle rather than urban cultural amenities.
Does South Carolina tax Social Security income?
No. South Carolina does not tax Social Security benefits. Additionally, residents 65 and older can exclude up to $10,000 per person ($20,000 for a married couple) of other retirement income — pensions, IRA distributions, 401(k) withdrawals — from state income taxes.
What are the best 55+ communities in Myrtle Beach?
The Grand Strand has a range of active adult communities in Carolina Forest, Murrells Inlet, Little River, and North Myrtle Beach. These typically offer single-story homes, amenity centers with pools and fitness facilities, and organized social programming. Prices generally range from $250,000 to $450,000 for primary residences in these communities.
How much does it cost to buy a retirement home in Myrtle Beach?
Retirement-suitable homes in the Myrtle Beach area range from the $230,000s for smaller condos and patio homes to $500,000 and above for newer single-family homes in premium communities. In 2026's buyer's market, retirees have strong negotiating leverage and a wide selection of inventory to choose from.
Can I rent out my Myrtle Beach second home when I am not using it?
Potentially, but the rules vary significantly by location. Myrtle Beach city limits restrict short-term rentals by zone. North Myrtle Beach requires a permit and local agent. Many condo HOAs prohibit or restrict short-term rentals entirely. Always verify rental rules for the specific property and HOA before purchasing if rental income is part of your plan.
About Greg Harrelson
Greg Harrelson has been one of the top-producing real estate agents in the Myrtle Beach area for over 20 years. With more than 15,000 homes and condos sold or partnered on throughout his career, Greg has helped hundreds of retirees and second-home buyers find the right property on the Grand Strand — whether they were looking for a low-maintenance condo near the beach, an active adult community with full amenities, or a quiet waterway home in Murrells Inlet or Pawleys Island.
Greg's results: over 1,100 five-star Zillow reviews and more than 500 Google reviews from clients who found exactly what they were looking for. If retirement in Myrtle Beach is on your horizon — whether now or in a few years — the best first step is a conversation with someone who knows this market inside and out. Browse current Myrtle Beach homes for sale to start exploring your options, and reach out to Greg's team when you are ready to take the next step.
