Cost of Living in Myrtle Beach, SC: Housing and Everyday Costs
Myrtle Beach's cost of living runs below the U.S. average, mainly because of housing. Here is what housing, utilities and everyday bills typically add up to, and why estimates vary.
In this article
Those two figures shape most of a household budget, so they are the place to start.
These figures come from online calculators, not official Census or Bureau of Labor Statistics data. Expect the exact number to shift from one tool to the next.
Treat these numbers as a starting point. Utilities add a real monthly cost on top of rent, with one calculator listing an energy bill of $256.19 a month [1].
How does Myrtle Beach compare with state and national costs?
Myrtle Beach costs less than the U.S. average on most measures, and housing shows the widest gap. The table sets the main figures against national levels where a source gives one. For the next step, see Pros and Cons of Living in Myrtle Beach, SC: What to Weigh.
That figure covers all everyday costs together, so it is a broader measure than the housing figures.
Housing is the largest difference. One estimate puts it 29.6% below the national figure [2], while another puts it at approximately 25% below [3]. The gap varies by estimate, so treat the direction as consistent and the exact percentage as approximate. Either way, a home here costs noticeably less than a comparable home at the national average, which matters if you are comparing a move. It also helps to read Cost of Living in Charleston SC: Housing, Taxes and Everyday Costs.
The monthly bills come from one calculator, and the table has no national comparison for them. Energy is $256.19 a month [1]. Gas is $3.02 a gallon [1].
Use these monthly figures as a starting point for your budget rather than a benchmark. Rent and housing carry the largest gap, so they deserve the most attention when you plan a move.
What would a month look like on a typical budget?
A typical month in Myrtle Beach starts at about $1,619 once you add rent, energy and phone. That base leaves out food, transport and insurance, so your real total will be higher.
Start with the median rent of $1,141 a month. Over a year, that comes to $13,692 before utilities. [1] For most budgets, rent is the largest single line, so it sets the base for everything else.
Next, add the everyday bills from the same calculator. It lists an energy bill of $256.19 a month and a phone bill of $221.97 a month. [1]
Adding those two bills to rent gives $1,141 + $256.19 + $221.97, or about $1,619 a month. [1]
That total is a sum of averages, not a quote for any address. Your rent depends on the home you pick. Your energy bill depends on the size of the home and how much you run the air conditioning. Your phone bill depends on the plan you choose.
To build your own month, start with the base and add the costs the estimate leaves out. Groceries and eating out come first, then fuel if you drive to work, then renter's or homeowner's insurance. Finally, add any savings you plan to set aside each month. Put each amount in a column next to the base. The total is the income you need after taxes to cover the month comfortably. Related reading: Cost of Living in Greenville, SC: Housing, Taxes and Everyday Costs.
These figures come from calculator estimates and describe averages. They show a starting point for comparison, not what your household will pay. Replace the rent, energy and phone lines with real numbers from listings and bills as soon as you have them, and the total will match your situation.
Which everyday bills add the most beyond rent?
Beyond rent, three everyday bills shape a Myrtle Beach budget: energy, phone and gas. The figures below come from one calculator estimate, so treat them as starting points for your own budget rather than exact costs.
Energy costs rise in summer
A typical energy bill in this estimate is $256.19 a month [1]. That is a middle-of-the-road figure you can use to set aside money each month, not a fixed charge.
The bill climbs when you run the air conditioner. For example, a household that keeps the cooling running most of the day in the hottest months should set aside more than the typical figure for those months, and less in mild seasons.
Phone bills depend on your plan
The phone bill estimate is $221.97 a month [1]. It is a single estimate, not a price tied to one carrier.
Your actual bill depends on the plan you choose and how many lines you have. A family with several lines on a higher-priced plan can pay well above this figure, while one line on a basic plan can pay less.
Gas matters if you drive a lot
Gas is listed at $3.02 a gallon [1]. That price matters most if you commute daily or drive long distances, because fuel is a cost you pay every week.
To estimate your own gas spending, divide your weekly miles by your car's miles per gallon to get the gallons you use. Then multiply those gallons by the local price per gallon.
What costs do these calculators leave out?
A monthly total from a calculator can therefore understate what a specific home will cost you. Add these three items to your budget before you compare any housing options.
Property taxes
Property tax depends on the assessed value of the specific parcel and the rate that applies to it. Two homes on the same street can carry different bills. Check the county assessor's site for the current rate and the assessed value of the property you are considering.
Divide the yearly tax by twelve to get a monthly figure. Add that amount to your mortgage payment or compare it with the rent you would otherwise pay.
Homeowner's insurance and flood coverage
Insurance premiums depend on the home's age, construction, location and claims history, so a general average will not match your situation. Get quotes for the specific address before you make an offer or sign a lease. Use the same coverage limits and deductible in every quote so the prices are comparable.
Ask each insurer whether flood coverage is included or priced as a separate policy. Flood coverage is a cost to plan for on its own line, not something to assume is already part of the homeowner's premium.
Seasonal price swings
If you plan to move in the warmer months, or rent for a season, the quotes you collect then may be higher than year-round averages. Collect offers at the same time of year so you compare like with like.
How should you use these numbers in your own budget?
Myrtle Beach runs below the U.S. average on most measures, and housing is the main reason [2][4]. Treat that as the direction, not an exact figure, because each calculator uses its own data and date.
Use these estimates to compare Myrtle Beach with the city you live in now, then replace the largest items with your own numbers. Start with the rent or home price in the neighborhoods you are considering, using current listings, and get an insurance quote for the exact address, since those costs vary by property. For the bigger picture, read the pillar article on whether Myrtle Beach suits you, then the articles on average rent and the housing market. Related reading: Is Myrtle Beach, SC a Good Place to Live? A Housing Overview.
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