Myrtle Beach, SC Cost Of Living
Cost Of Living In Myrtle Beach, SC Summary
Cost of living in Myrtle Beach research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Myrtle Beach is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in South Carolina, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Myrtle Beach is 97, with 100 being the average.
The cost of living index in Myrtle Beach is 1.0x lower than the national average.
Myrtle Beach ranks as the #68 cheapest in South Carolina out of 99.
Myrtle Beach ranks as the #2,747 cheapest out of 6,412 in the US.
The median home value in Myrtle Beach is $246,300.
The median income in Myrtle Beach is $45,701.
Table Of Contents
Myrtle Beach's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Myrtle Beach, SC?
According to the most recent data on the cost of living, Myrtle Beach has an overall cost of living index of 97, which is 1.0x lower than the national index of 100.
Compared to South Carolina, Myrtle Beach has a cost of living index that's 1.0x higher than South Carolina's index of 96.
The standard of living in Myrtle Beach ranks as #68 most affordable out of the 99 places we measured in South Carolina. By definition, that implies Myrtle Beach ranks as the #31 most expensive place in the Palmetto State.
For more reading on life in Myrtle Beach, check out:
- Living In Myrtle Beach
- Myrtle Beach Crime Report
- Search Homes For Sale In Myrtle Beach, SC
In South Carolina
In America
Myrtle Beach Cost Of Living Vs. South Carolina
Six factors go into calculating the cost of living index in Myrtle Beach. Here is how it fairs on each of the criteria:
The Services index in Myrtle Beach is 102.
The Groceries index in Myrtle Beach is 96.
The Health index in Myrtle Beach is 109.
The Housing index in Myrtle Beach is 90.
The Transportation index in Myrtle Beach is 110.
The Utilities index in Myrtle Beach is 105.
| Living Expense | Myrtle Beach | South Carolina | National Average | |
|---|---|---|---|---|
| Overall | 97 | 96 | 100 | |
| Services | 102 | 99 | 100 | |
| Groceries | 96 | 100 | 100 | |
| Health | 109 | 96 | 100 | |
| Housing | 90 | 89 | 100 | |
| Transportation | 110 | 90 | 100 | |
| Utilities | 105 | 107 | 100 | |
Myrtle Beach, SC Housing Cost Breakdown
Housing swings affordability the most between places in South Carolina, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Myrtle Beach is $246,300.
The Median Rent in Myrtle Beach is $1,000.
The Median Income in Myrtle Beach is $45,701.
The Home Value To Income in Myrtle Beach is 5.4x.
The Rent To Monthly Income in Myrtle Beach is 0.26x.
| Statistic | Myrtle Beach | South Carolina | United States |
|---|---|---|---|
| Median Home Value | $246,300 | $181,800 | $244,900 |
| Median Rent | $1,000 | $970 | $1,163 |
| Median Income | $45,701 | $58,234 | $69,021 |
| Home Value To Income | 5.4x | 3.1x | 3.5x |
| Rent To Monthly Income | 0.26x | 0.2x | 0.2x |
Median Home Value
Median Rent
Median Income
Myrtle Beach, SC Costs By Category
Detailed Myrtle Beach Services Costs Vs. South Carolina
| Item | Myrtle Beach | South Carolina |
|---|---|---|
| Shampoo | $1.07 | $1.06 |
| Movie | $10.35 | $10.68 |
| Bowling | $13.67 | $14.67 |
| Haircut | $15.0 | $18.62 |
| Beauty Salon | $42.5 | $39.05 |
Detailed Myrtle Beach Groceries Costs Vs. South Carolina
| Item | Myrtle Beach | South Carolina |
|---|---|---|
| Ground Beef | $4.32 | $4.22 |
| Fried Chicken | $1.48 | $1.39 |
| Milk | $2.58 | $2.05 |
| Potatoes | $4.3 | $3.29 |
| Pizza | $8.99 | $10.62 |
| Beer | $9.69 | $9.38 |
| Toothpaste | $3.23 | $2.34 |
Detailed Myrtle Beach Health Costs Vs. South Carolina
| Item | Myrtle Beach | South Carolina |
|---|---|---|
| Optometrist | $116.4 | $108.57 |
| Doctor | $121.67 | $116.17 |
| Dentist | $120.22 | $99.13 |
Detailed Myrtle Beach Transportation Costs Vs. South Carolina
| Item | Myrtle Beach | South Carolina |
|---|---|---|
| Gasoline | $2.5 | $2.22 |
| Tire Balancing | $63.96 | $50.07 |
Detailed Myrtle Beach Utilities Costs Vs. South Carolina
| Item | Myrtle Beach | South Carolina |
|---|---|---|
| All Electricity | $180.8 | $167.67 |
| Phone | $177.09 | $175.64 |
Myrtle Beach SnackAbility
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Cost Of Living In Cities Around Myrtle Beach
The cost of living varies in the cities and towns around Myrtle Beach. Here's a quick look at the cost of living in the most populous nearby places:
Socastee, SC has a cost of living index of 98, 1.0x Myrtle Beach.
Conway, SC has a cost of living index of 96, 1.0x Myrtle Beach.
North Myrtle Beach, SC has a cost of living index of 112, 1.2x Myrtle Beach.
| City | Population | Cost Of Living | Vs. Myrtle Beach |
|---|---|---|---|
| Socastee, SC | 24,657 | 98 | 1.0x |
| Conway, SC | 22,001 | 96 | 1.0x |
| North Myrtle Beach, SC | 18,502 | 112 | 1.2x |
| Red Hill, SC | 16,060 | 100 | 1.0x |
| Little River, SC | 9,929 | 99 | 1.0x |
| Murrells Inlet, SC | 9,695 | 107 | 1.1x |
| Forestbrook, SC | 7,256 | 98 | 1.0x |
