Myrtle Beach is known for its beautiful coastline, thriving tourism industry, and relatively affordable cost of living. Whether you are considering relocating or planning an extended stay, understanding the expenses associated with living in Myrtle Beach is essential. Below, we break down the key factors contributing to the cost of living in this coastal city.
1. Housing Costs
Housing in Myrtle Beach is generally more affordable compared to other coastal cities. The cost of housing varies based on location, property type, and proximity to the beach.
- Median Home Price – Approximately $275,000 for a single-family home.
- Rent for a One-Bedroom Apartment – Around $1,100 per month.
- Rent for a Three-Bedroom Apartment – Averages between $1,500 and $2,000 per month.
- Property Taxes – Relatively low compared to the national average.
2. Utility Costs
Utilities in Myrtle Beach are fairly moderate, with costs fluctuating depending on the season.
- Electricity – Average of $130–$180 per month.
- Water & Sewer – Around $50–$80 per month.
- Internet & Cable – Ranges between $60 and $120 per month.
3. Transportation Expenses
Myrtle Beach has limited public transportation, making car ownership the primary mode of transport.
- Gas Prices – Typically aligned with the national average.
- Public Transit – The Coast RTA bus service offers affordable fares, with a standard one-way ticket costing $1.50.
- Car Insurance – Rates vary, but the average cost is around $1,200 per year.
4. Grocery and Food Costs
Grocery prices in Myrtle Beach are comparable to the national average, with some local markets offering fresh, affordable seafood and produce.
- Milk (1 gallon) – Approximately $4.00.
- Bread (1 loaf) – Around $3.00.
- Eggs (Dozen) – Between $2.50 and $4.00.
- Dining Out – An inexpensive meal costs around $12–$15, while a three-course meal at a mid-range restaurant averages $40–$60 for two people.
5. Healthcare Costs
Myrtle Beach offers a range of healthcare services at reasonable rates.
- Doctor’s Visit – Around $120 without insurance.
- Dental Check-up – Approximately $80–$150.
- Health Insurance Premiums – Varies based on provider and coverage, with averages around $300–$500 per month for an individual plan.
6. Entertainment & Recreation
Myrtle Beach is a tourist hub with a variety of affordable recreational activities.
- Movie Ticket – About $12 per person.
- Golfing Fees – Public courses range from $40 to $100 per round.
- Gym Membership – Typically $30–$60 per month.
- Amusement Parks & Attractions – Prices vary, but an all-day pass at major attractions costs between $30 and $80.
7. Education Costs
For families with children, education costs are a crucial consideration.
- Public Schools – Free, funded by local taxes.
- Private Schools – Tuition ranges from $5,000 to $15,000 per year.
- Higher Education – Coastal Carolina University tuition averages $11,640 per year for in-state students and $27,394 for out-of-state students.
Conclusion
The cost of living in Myrtle Beach is generally lower than many other coastal cities, making it an attractive option for retirees, young professionals, and families alike. With affordable housing, moderate utility expenses, and access to a variety of recreational activities, Myrtle Beach offers a balanced lifestyle for residents.