Myrtle Beach, SC Cost Of Living

Myrtle Beach cost of living index

In the event that the cost of living data was unavailable for this city, estimates based upon nearby cities were used. Each cost of living index is based on a national average of 100. If the amount is below 100, it is lower than the national average. If the amount is above 100, it is higher than the national average.
Index	Myrtle Beach	South Carolina	National
Cost of living index	99	97	100
Index	Myrtle Beach	South Carolina	National
Goods & Services index	97	106	100
Groceries index	103	103	100
Health care index	121	101	100
Housing index	92	80	100
Transportation index	107	92	100
Utilities index	100	111	100

A general overview of the cost of living index for Myrtle Beach, SC is displayed above. In Myrtle Beach, SC, the overall cost of living index is 99, which is 2% higher than the South Carolina average and 1% lower than the U.S. average. The following categories are used to calculate the overall cost of living index: goods/services (33%), housing (30%), groceries (13%), utilities (10%), transportation (9%) and health care (5%). From the list, it is clear that the categories of goods/services and housing are responsible for the largest portions of the overall cost of living index. As a general rule, everyday goods and services provide an accurate measure of the general cost of goods in any given city. In the case of Myrtle Beach, SC, the city's goods and services are 8% lower than the South Carolina average and 3% lower than the U.S. average.

Did you know?

The cost of living in Myrtle Beach is 2% higher than the South Carolina average.
The cost of living in Myrtle Beach is 1% lower than the national average.
The cost of housing in Myrtle Beach is 8% lower than the national average.
South Carolina general sales tax is 18% higher than the national average.
South Carolina state income tax is 100% lower than the national average.

Find Real Estate Listings In Myrtle Beach

New Real Estate Listings In Myrtle Beach

The best places in South Carolina

Here are the best places to live in South Carolina

Top 10 best public schools in Myrtle Beach

See the best places to live in & around Myrtle Beach

Top 10 cities in South Carolina with the best education system

Compare Myrtle Beach, SC Cost of living To Other Cities

Salary Calculator

This is how much you would need to earn in

Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

The salary calculator allows you to compare how much your current salary in Myrtle Beach, SC would be worth in another city. In other words, the salary calculator will adjust the figure you enter for cost of living so that you can determine how much more or much less you would need to earn while maintaining your current quality of living. If you are considering relocating to a more expensive city than Myrtle Beach, SC, the calculator will tell you how much more you need to earn so you can assess job offers more accurately. The Myrtle Beach, SC salary calculator is easy to use. All you do is enter the name of another city, then move the slider to your current income. After that, the salary calculator will crunch the numbers for you and give you the information you need about the place you are considering going. Additionally, it will show a detailed breakdown of the cost of living.

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$52,272	$4,356	$1,220	$1,568
Renters	$26,824	$2,235	$626	$805

A good way to judge both the affordability of the housing and the cost of living is by simply calculating the maximum that a person should spend on housing in Myrtle Beach, SC, otherwise known as the debt-to-income ratio (DTI). The safest way to live in the city is to avoid spending more than 28 percent of the gross income that one earns on costs that pertain to housing and no more than 36 percent on all expenses and debts. Myrtle Beach, SC has a median income of about $52,272 for people who own homes. Based on that number, a person should spend a maximum of $1,220 on expenses related to housing. Renters have a slightly different median income, which is $26,824. Based on this average, renters should spend no more than $626 on all of their rental costs if they want to maintain a non-impoverished standard of living.

South Carolina Sales Tax

State	General Sales Tax	With Max Surtax
South Carolina	6%	9%

South Carolina Income Tax

State	Income Tax (Low)	Income Tax (High)
South Carolina	0%	7%

The South Carolina sales tax and South Carolina income tax rates should definitely be considered when determining the overall cost of living in Myrtle Beach, SC. Sales taxes are taxes that are imposed onto goods and services sold. Sales taxes do vary by state and can range from no tax at all to upwards of 7%. The South Carolina sales tax is 6% and the maximum surtax is 9%. Income tax is the tax imposed on income by the government. The income tax rates will vary by state and will also increase or decrease depending on the corresponding tax bracket. State income tax rates can range from anywhere from no tax at all to more than 9%. The South Carolina income tax rates range from 0% to 7%.

Goods & Services

Item	Myrtle Beach	National avg.	Difference
Haircut	$14.50	$16.09	9.9%
Beauty Salon	$44.31	$37.33	18.7%
Toothpaste	$3.24	$2.45	32.4%
Shampoo	$1.13	$1.00	12.9%
Movie	$11.63	$10.28	13.1%
Bowling	$3.91	$4.93	20.7%

Groceries

Item	Myrtle Beach	National avg.	Difference
Ground Beef	$4.42	$3.80	16.3%
Fried Chicken	$2.14	$1.40	53.4%
Milk	$2.11	$2.01	5.1%
Potatoes	$3.29	$3.01	9.3%
Pizza	$9.83	$9.89	0.6%
Beer	$8.36	$8.90	6.0%

Health Care

Item	Myrtle Beach	National avg.	Difference
Optometrist	$126.53	$102.16	23.9%
Doctor	$145.87	$108.36	34.6%
Dentist	$114.73	$92.53	24.0%
Ibuprofen	$9.26	$9.28	0.2%
Lipitor	$438.48	$425.82	3.0%

Housing

Item	Myrtle Beach	National avg.	Difference
Home Price	$173,600.00	$184,700.00	6.0%
Avg. Mortgage Payment	$1,067.31	$1,202.44	11.2%
Apartment Rent	$824.00	$949.00	13.2%

Transportation

Item	Myrtle Beach	National avg.	Difference
Gasoline	$2.18	$2.24	2.9%
Tire Balancing	$59.69	$46.29	29.0%

Utilities

Item	Myrtle Beach	National avg.	Difference
All Electricity	$152.12	$165.96	8.3%
Phone	$32.00	$28.68	11.6%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City, State	Population	Cost of Living Index	National Avg.
Bucksport, SC	805	89	-11%
Atlantic Beach, SC	239	91	-9%
Garden City, SC	9,456	93	-7%
Conway, SC	20,631	95	-5%
Forestbrook, SC	5,218	97	-3%
Myrtle Beach, SC	30,106	99	-1%

Cities with similar population

City, State	Population	Cost of Living Index	National Avg.
Orcutt, CA	30,109	133	33%
Helena, MT	30,102	99	-1%
Burlingame, CA	30,118	270	170%
Holly Springs, NC	30,126	111	11%
Lawrenceville, GA	30,127	95	-5%
Myrtle Beach, SC	30,106	99	-1%

Source: The Myrtle Beach, SC cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2017.

Myrtle Beach, SC Cost of Living