Myrtle Beach, SC

Below Avg · 89

South Carolina · Population 37,214 · Updated March 2026

$1,132
Median Rent / Month
$53,679
Median Income
$347,700
Median Home Value
$1,073
Owner Costs / Month

Affordability

How far your income goes in Myrtle Beach

25.3%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in South Carolina

State-level tax rates that affect your costs

6.4%
Income Tax (Top Rate)
6.0%
Sales Tax
0.57%
Property Tax Rate

Estimated Annual Costs

$13,584
Annual Rent
$3,435
State Income Tax
$1,982
Property Tax (est.)

Cost of Living Overview

Myrtle Beach offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 89 (where 100 equals the national median), Myrtle Beach residents can expect to pay median rent of $1,132/month while earning a median household income of $53,679/year.

The median home value in Myrtle Beach, SC is $347,700, with typical monthly owner costs around $1,073 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.3%, Myrtle Beach falls within the generally affordable range, though it's approaching the 30% burden threshold.

South Carolina has a moderate income tax rate of 6.4%. Combined with a 6.0% sales tax rate and 0.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Myrtle Beach.

Frequently Asked Questions

Common questions about living costs in Myrtle Beach

What is the cost of living in Myrtle Beach, SC?
The cost of living index in Myrtle Beach, SC is 89 (US average = 100). Median monthly rent is $1,132, median household income is $53,679/year, and the median home value is $347,700.
Is Myrtle Beach, SC affordable?
Yes, Myrtle Beach is more affordable than the national average with a cost index of 89. The rent-to-income ratio is 25.3%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Myrtle Beach, SC?
The median gross rent in Myrtle Beach, SC is $1,132 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $13,584.
What is the median household income in Myrtle Beach?
The median household income in Myrtle Beach, SC is $53,679 per year. This compares to the national median of approximately $80,000.
What are the taxes like in South Carolina?
South Carolina has a top income tax rate of 6.4%, a sales tax of 6.0%, and an effective property tax rate of 0.57%.