Cost of Living in Myrtle Beach, South Carolina

South Carolina runs about 8% below the national average on overall cost of living — the MERIC composite index puts SC at 91.9 against a 100 baseline, making it the 17th least expensive state. Housing leads the gap, with the SC housing index around 79.8, roughly 20% below the national average. Healthcare runs about 20% below the national average as well. Where buyers get surprised is the coastal insurance premium — homeowners insurance on the Grand Strand typically runs 2–3 times the cost of equivalent inland SC coverage because of windstorm exposure.

This page is the honest breakdown by category and the comparison anchors for the most common origin metros our relocation buyers come from.

Housing

Housing is the biggest driver of the cost-of-living gap for buyers moving from the Northeast, West Coast, or major Midwest metros. South Carolina's housing index sits roughly 20% below the national average, and Myrtle Beach typically tracks at or slightly below the SC state index.

What that means in practical numbers: oceanfront one-bedroom condos start in the low $100,000s; family homes in Carolina Forest run $400,000–$600,000; luxury estates along the Intracoastal Waterway start at $1M. Compare to a Long Island three-bedroom at $700K–$900K, a Westchester equivalent at $1M+, or a comparable Bergen County NJ home at $750K–$1M.

Browse homes for sale — the current listings make this concrete fast.

Property Tax

On an owner-occupied primary residence at the 4% legal-residence ratio, property tax on a $500,000 home in Horry County typically runs $1,500–$2,000 a year. On a second home or rental at the 6% ratio, the same property runs roughly $4,000–$6,000.

This is one of the largest line-item differences for buyers from the Northeast. A comparable home in Westchester or Nassau County NY often carries $15,000–$25,000 a year in property tax; in Bergen or Essex NJ, $12,000–$18,000. The annual property tax savings alone are often $10,000–$20,000 a year.

Full property tax breakdown.

Insurance — The One That Surprises Buyers

This is where you have to budget carefully. Coastal SC carries some of the higher homeowners insurance premiums in the country because of windstorm exposure. The SC Department of Insurance segments the state into three rating territories (inland, seacoast, beach), and coastal counties (Horry, Georgetown, Charleston, Beaufort) carry the highest wind/hail loads.

As a rough rule, homeowners insurance on a Grand Strand primary residence runs 2 to 3 times what the equivalent inland SC coverage would cost. For a $500,000 inland SC home, a typical HO-3 premium might run $1,200–$1,800/year. On the same-value home on the coast, expect $2,500–$5,000/year; oceanfront with full wind/hail coverage can run higher.

Several factors compound coastal premiums — wind/hail coverage, the age and roof type of the structure, distance to coast, and the property's elevation. A few buyers learn this the hard way after signing a contract; get an insurance quote on the specific property before you waive your inspection contingency.

Separately: flood insurance. Properties in FEMA Zones VE or AE typically require flood insurance — expect $1,500–$5,000/year for oceanfront and several hundred to ~$2,000/year for AE zones. Zone X properties don't require it but a Preferred Risk Policy is inexpensive (often $300–$600/year) and is worth considering after Florence (2018) demonstrated how far inland flooding can reach. More on flood zones.

Utilities

Mild winters mean low heating costs. The flip side is summer cooling — August AC bills are real. On a typical Grand Strand single-family home, electric bills run $80–$150 in winter and $200–$350 in summer. Most of the Strand is served by Santee Cooper or Horry Electric Cooperative; some areas have Duke Energy. Natural gas is available in many newer neighborhoods (Carolina Forest, Grande Dunes, Market Common) but is not universal — check the specific property.

Water and sewer are typically Grand Strand Water and Sewer Authority (GSWSA) on the unincorporated north end; municipal systems handle the cities. Trash and recycling are handled by Horry or Georgetown County in most areas, by the municipality where applicable.

Healthcare

Healthcare costs run roughly 20% below the national average in SC. Three competing hospital systems on the Grand Strand — Grand Strand Medical Center (HCA), Tidelands Health (now under MUSC controlling interest), and McLeod Health — mean meaningful network competition for insurers. Full healthcare page.

HOA Fees

HOA fees on the Grand Strand vary enormously by community type:

Older, established single-family neighborhoods: $20–$100/month, often less.
Newer master-planned communities with full amenities (Carolina Forest, Prince Creek, Plantation Lakes): $50–$200/month, sometimes more for gated sections.
Active-adult / 55+ communities with full clubhouse, fitness, pools, and lifestyle director (Del Webb, Cresswind, Seasons): $250–$500/month.
Oceanfront condos: Highly variable but typically $500–$1,500/month and sometimes higher. Includes insurance, water, structural maintenance, exterior, and amenities. The HOA budget and reserve study are essential reads before you buy any oceanfront condo.
Gated golf communities (Barefoot, Tidewater, Grande Dunes, DeBordieu): $200–$800/month not including golf membership.

When evaluating a property, always ask for the HOA dues, the reserve study, the recent special assessments, and pending insurance renewals. Coastal condo associations have been particularly volatile on master-policy insurance since 2022.

Sales Tax

Combined state and Horry County sales tax is 8% as of May 2025. Groceries and prescription drugs are exempt from the state portion. For visitors and short-term rentals, the City of Myrtle Beach and Horry County add accommodations and hospitality taxes (relevant if you're a second-home buyer planning short-term rental). Full tax breakdown.

Cost-of-Living Comparison by Origin Metro

Honest comparisons against the most common metros we see relocation buyers from. These are general framings — for precise dollar figures use the BestPlaces cost calculator with your specific income.

New York City metro. Dramatically cheaper across nearly every category. Housing is the runaway driver of the gap, often dropping by half or more on equivalent square footage. Property tax savings alone often run $10,000–$20,000/year.

Long Island (Nassau, Suffolk). Same picture as NYC plus the property-tax gap is especially severe.

Westchester / Fairfield County. Among the widest gaps on this list. Housing, property tax, and state income tax all drop substantially.

Northern New Jersey. Meaningfully lower across the board. NJ's 10.75% top income tax bracket, the state's estate situation, and high property taxes all narrow significantly in SC.

Boston metro. One of the widest gaps in the country, with housing as the runaway driver. Massachusetts estate tax kicks in lower than the federal threshold — that disappears in SC.

Philadelphia metro. Meaningfully lower but narrower gap than NY/Boston. Housing leads; PA's flat state income tax means the SC tax savings are real but smaller than for NY/NJ buyers.

Pittsburgh. One of the narrower gaps on this list. Pittsburgh's housing is reasonable; Myrtle Beach edges lower but the difference isn't dramatic.

Cleveland / Columbus. Modest cost-of-living savings. Columbus is the closest pairing in this list — the move is more about climate and the coast than the math.

Chicago suburbs. Notably lower across most categories — housing and Illinois state income tax + property tax lead the gap. The SC retiree deductions especially favor buyers from IL.

South Florida (Miami / Fort Lauderdale). Meaningfully lower in Myrtle Beach. Florida insurance costs in particular have escalated to where many South Florida residents find SC coastal insurance comparable or lower — flipping the conventional wisdom that Florida is cheaper than the Carolinas.

Northern Virginia / DC suburbs. Substantially lower. NoVa housing is among the most expensive in the country; Myrtle Beach equivalent housing runs 40–60% less.

Los Angeles / San Diego. Among the largest gaps on this list. Housing roughly halves and transportation/misc costs also drop meaningfully. California income tax (up to 12.3%) and the absence of an SC estate tax both shift the picture in SC's favor.

Seattle. Dramatically lower across every category — housing and transportation are the largest drivers. WA has no state income tax (mirroring SC after the new structure for some buyers), but the housing gap is enormous.

Toronto. Once converted to USD, Toronto's housing index runs well above Myrtle Beach. Housing is the overwhelming driver of the gap. (Note: BestPlaces doesn't publish Canadian comparisons directly — this is general framing.)

What's Not Cheaper

To be straight: not everything is cheaper.

Coastal home insurance is meaningfully higher than what you're paying inland in most northern states.
HOA fees on oceanfront condos and gated communities are higher than what most relocation buyers from inland markets expect.
Tourist-season pricing in summer means restaurants, beach gear, and parking near the coast cost more June through August than November through April.
Specialty groceries (some imported wines, specialty cheeses, certain ethnic ingredients) may be harder to find or cost more than they did in major metros — though Costco, Trader Joe's, and Whole Foods have all come to the Strand in recent years.

Frequently Asked Questions

Is Myrtle Beach an affordable place to live?

Yes, in the aggregate. South Carolina's overall cost of living index is around 91.9 (US=100). Housing in particular runs 20% below the national average and roughly 50–70% below the major Northeast and West Coast metros. The two coastal premiums to budget carefully are homeowners insurance and HOA fees on oceanfront properties.

What's the average property tax in Myrtle Beach?

For owner-occupied primary residences at the 4% legal-residence ratio, expect $1,500–$2,000/year on a $500,000 home in Horry County. For second homes and rentals at the 6% ratio, the same property runs $4,000–$6,000. Full property tax breakdown.

How much is homeowners insurance in Myrtle Beach?

Coastal homeowners insurance on the Grand Strand typically runs 2–3 times the cost of equivalent inland SC coverage. For a $500,000 home, expect $2,500–$5,000/year on the coast versus $1,200–$1,800 inland. Oceanfront with full wind/hail coverage can run higher. Always get a quote on the specific property before waiving inspection contingencies.

How much do utilities cost in Myrtle Beach?

Electric bills run $80–$150/month in winter and $200–$350 in summer for a typical single-family home. Heating is cheap because winters are mild; cooling is the bigger cost from June through September.

How much are HOA fees on the Grand Strand?

Anywhere from $20/month in older neighborhoods to $1,000+/month on oceanfront condos with full amenities. Active-adult 55+ communities typically run $250–$500/month. Always ask for the HOA budget and reserve study before you make an offer.

Is it cheaper to live in Myrtle Beach or in Florida?

For most relocation buyers, Myrtle Beach is cheaper now — Florida's property insurance and HOA situation have escalated meaningfully since 2022, while SC coastal insurance is also up but less severely. Florida has no state income tax (SC has a low one). For retirees with significant retirement income, the FL income-tax edge is partly offset by SC's retirement deductions, no estate tax, and lower property tax on a primary home.

What is the sales tax in Myrtle Beach?

Combined state and Horry County sales tax is 8% as of May 2025. Groceries and prescription drugs are exempt from the state portion.

How much do I need to make to live comfortably in Myrtle Beach?

For a couple with no children: $75,000–$100,000/year in household income supports a comfortable middle-class lifestyle including mortgage on a typical inland home, insurance, utilities, and discretionary spending. For families with children, add $20,000–$40,000 depending on private school and childcare choices. These are rough benchmarks — the right number depends heavily on your specific home value, insurance, and lifestyle.

Keep Reading

Back to the relocation guide

SC taxes for relocation buyers

Climate & hurricane risk (and what drives insurance)

Healthcare on the Grand Strand

These are general framings, not financial or insurance advice. Get a quote on the specific property and a real cost-of-living model with a financial advisor before you decide.