Myrtle Beach is one of the most desirable living locations in the East. Our beautiful coastal beaches attract many buyers from the North – and yet we maintain an extremely affordable cost of living. Compared to New York City, the cost of living is less than half. Even Virginia Beach has a higher overall cost of living.
Living in Myrtle Beach is extremely affordable. We are right on the average for the cost of things like groceries, transportation, and other miscellaneous categories. Surprisingly, the place where you can expect to save the most money is in real estate. The cost of buying a home here in Myrtle Beach is only about 74% of the national average; meaning that if you were to buy a house anywhere else in the United States for $1,000,000, you could expect to pay only $740,000 for the same home in Myrtle Beach. You’ll always save about 30%.
The average new home in Myrtle Beach will cost about $220,444 for three bedrooms and two bathrooms. A two bedroom apartment can easily be found for $660 per month.
Disposable income goes much further in Myrtle Beach where you can expect to save 7% annually (based on the national average). And did you know that South Carolina has the lowest state tax rate per capita?
To find out how much you could save by moving to Myrtle Beach, check out the Myrtle Beach Cost of Living Calculator. (You’ll even be able to compare the cost of fried chicken and sweet peas!)