A Comprehensive Dive Into Cost Of Living Myrtle Beach

A Comprehensive Dive Into Cost Of Living Myrtle Beach

If you’re considering moving city to Myrtle Beach, whether it be for their gorgeous beach, mini-golf, or retirement, it’s important to know the cost of living Myrtle Beach.

Relocating can be a big undertaking. But if you clearly understand the potential costs involved, it can make your transition much smoother. Here we will look at the costs involved to make such a move.

What are living costs such as food, electricity, gas? Where will you live? Will you rent or buy? What can you expect to pay for school fees? Do they have free healthcare? There are many things to consider, so let’s look at these.

Cost Of Living Myrtle Beach

Living Costs

The overall cost of living in Myrtle Beach is thankfully well below the national average and may even be less than the average cost of living in South Carolina.

The low cost attracts people of all ages across the board, mainly those who wish to retire and those who wish to live by the beach. With the low cost of living ever so attractive, the population is slowly increasing by 25% every decade.

The tax brackets in South Carolina range between 0% being the lowest and 7% being the highest tax bracket. Furthermore, these tax brackets are updated yearly to reflect changes in the cost of living.

If you are fortunate, you would have already lined up a potential job offer. But for many, you will have to look at what opportunities are available in your field. 

The largest employers in Myrtle Beach, to name a few, are Horry County School District, Wal-Mart, Coastal Carolina University, Coastal Carolina Government, and Conway Hospital. 

Housing

Myrtle Beach’s housing expenses are 30% lower than the national average, which is alluring in its own right. Housing in Myrtle Beach is readily available. From a condo to the cottage to the apartment to freestanding, they have it all in this city. 

Buying Accommodation

Purchasing the average new home in Myrtle Beach will cost approximately $243,594.

Naturally, the price you pay will depend on the neighborhood and the number of bedrooms you need. If you can buy a home, you’d be making an excellent investment in your future. Let’s look at what it would cost to buy a house in one of the neighborhoods.

Socastee sits in Horry County is one of the best places to live in South Carolina, Myrtle Beach. Most residents own their homes here, and the average price to buy in Socastee is $165,400.

The suburb has a population of about 24,964, and living here offers a residential feel. See the table below of housing costs in Socastee.

House$189,9003bed, 2bath1,222 sqft6,534 Sqft lot
House$595,0003bed, 2bath2,220 sqft0.46 acre lot
Condo$87,9002bed, 2bath912sqft 
Apartment$132,9002bed, 2bath980sqft 
Apartment$55,0001bed, 1bath700sqft 

To get you started with purchasing a home, get in touch with a real estate agent. They know the neighborhoods well and the laws that pertain to buying property in Myrtle Beach.

There are plenty of well-known mortgage lenders in Myrtle Beach that you can apply to for funding. Bear in mind that you need to take out home and life insurance to cover potential risks.

Then lastly, maintenance on a house can get pricey so perhaps cost in a monthly fee for unexpected costs. Maintaining your home will get you a good return on your investment when you decide to sell.

Renting Accommodation

The cost of living in Myrtle Beach for the average apartment rental is approximately $763.07 per month. But just as housing, it depends on beds and sqft required along with utilities.

Rent prices in Myrtle Beah are very affordable. To compare pricing against the housing, let us look at what rental prices are going for in Socastee, Myrtle Beach.

House$2,2003bed, 2.5bath2,024 sqft
Condo$1,0001bed, 1.5bath 
Condo$1,7502bed, 2.5bath1,250 sqft
Apartment$1,2131bed, 1bath652 sqft

If you cannot afford to rent on your own, think about flat or house shares. Renting space in a home would be the most affordable option while finding your feet in your new surroundings.

However, utility prices are 18% higher than the national average.

Summers in Myrtle Beach are extremely hot, so your air conditioner will likely run continuously, increasing the electricity bill significantly. You could pay up to $224.88 for the average electric bill based on a 2,400 sq. ft. living area. 

Phone charges cost around $28.20 for private residence, not including long-distance service and mobile, approximately $211.43.

It could cost you around $27.99 for monthly 6-24 Mbps DSL. The average household needs about 25Mbps a month for basic streaming like Netflix, Youtube, Zoom meetings, and online games.

The cable will cost around $44.99 for 200-100Mbps, and for fiber-optic, you could spend approximately $49.95 for 500-1000 Mbps per month.

Groceries and Entertainment

When considering the cost of living in Myrtle Beach, a trip to the grocery store for your weekly essentials will cost about $30. This is calculated as follows:

·   Milk $0.98for one liter

·   Loaf of Bread $2.97

·   Rice $3.59

·   Beef $13.06

·   Potatoes $4,62

·   Dozen eggs $1.73

·   Local Cheese $ 13.78

·   Chicken fillets 1kg $10.46

·   Movie ticket $8.60

·   Toothpaste $3.23

·   Shampoo $1.07

If you’re just grabbing a takeaway, a McDonald’s combo meal will cost around $8. Cigarettes and domestic or Imported beer will cost $10.84, and a regular Cappuccino will cost about $5.

Health

Health care costs can get very expensive, and they can take up a large part of your earnings. But to have protection is crucial. South Carolina is recognized for good overall healthcare access and affordability. 

Affordability is typically measured by the prices set for insurance coverage in a state, and You can expect to pay the following fees for medical services. 

Doctors visit$110.38
Dentist visit$94.82
Optometrist visit$103.43
RX Drug$439.68
Veterinary visit$51.93

Myrtle Beach Education

When factoring education into Myrtle Beach cost of living, day-care is $433 per month. This is the average price for full-time. However, the childhood program First Steps, a state early education program, offers free childcare or after-school programming to 4K siblings up to 12 years of age. 

Public school

Public schools in Myrtle Beach, South Carolina, are ranked high, namely:

  • Carolina Forest High School
  • St. James Elementary School
  • Socastee High School

Children have a constitutional right to attend free public schools. State law allows districts to charge the smallest reasonable amount for enrollment and nominal fees. 

Common School Fees would include enrolment, field trips, and mandatory fundraising. However, you do need to pay for additional items like the yearbook, entry fee to school dances, sports, etc.

Private Schools

The state of South Carolina has more than 420 private schools, and the average tuition for private schools in the state ranges between $5,883 – $7,094 per year.

The private preschool with the lowest tuition is The Goddard School, with a tuition fee of $1,300, and the private preschool with the highest tuition in South Carolina is Ashley Hall School, with a tuition of $20,000.

In the school year 2021-22, 9 private schools are attending to 1,300 students in Myrtle Beach, SC, with 78% of them being religiously associated.

The best top-ranked private schools in Myrtle Beach, SC include:

SchoolGradesYearly TuitionAverage class size
Christian Academy Of Myrtle Beach Kindergarten-12Kindergarten $6150Grades 1 & 2 $7500Grades 3-8 $7990Grades 9th-12th- $8,990
16 Students
Risen Christ Christian AcademyPrekindergarten-12$5,500143 students10 students
Calvary Christian SchoolPrekindergarten-12$4,500345 students
St. Andrew Catholic SchoolKindergarten-8$7,380194 students23 students

College & University

The average tuition and fees for colleges in Myrtle Beach, South Carolina are $15,000. The national average is $17,943 for the year 2020-2021, which makes Myrtle Beach lower than the national average. Coastal Carolina University is just minutes away from the city. 

Transport

Transportation expenses like bus fares and gas prices that contribute to the cost of living in Myrtle Beach are 8% lower than the national average. Although complicated at first because the area is new, the most convenient way to get around would of course be by car. That said, convenience does come at a cost. 

You would need to consider vehicle insurance, vehicle servicing, and tire wear and tear. And the average gasoline price per gallon is $3.33 for regular unleaded gasoline.

However, if you prefer transportation services, there are several ways to get around. Here are some options. Public transportation in the Myrtle Beach area includes taxis, shuttles, ride services, and buses. that can get you around town.

Coast Rta Bus Service

Coast RTA Public Transit services Horry and Georgetown counties which covers Myrtle Beach and most of the Grand Strand.

The service offers eight bus routes covering the most popular parts of the Myrtle Beach area, like North and South Ocean Boulevard in Myrtle Beach. This offers convenient transport to get around.

The cost of the shuttle starts from $1.50 for adults with discounts available for seniors, students, children, and Medicaid recipients.

See pricing below:

TYPE FARE 
Fixed Routes$1.50
Children, limit 3, (under age 6) with paid adult fare on fixed routesFree
Student with ID$1.25
Senior citizen (age 55 and older) or a person with disabilities$0.75
Express routes (Discounts or transfers are not available on Express routes.)$2.00
Transfers$0.25

Taxi

Taxis are always on call with vehicles to accommodate all. You can estimate a minimum fare of $7.5 per km per minute to get around Myrtle Beach and $4.2 as a base.

Some of the popular taxis to factor into the cost of living in Myrtle Beach are as follows:

  • Myrtle Beach Taxi Service: 843-222-2222 1108 3rd Ave. South, Myrtle Beach, SC 29577
  • City Cab of Myrtle Beach: 843-251-5959 9430 Leeds Circle, Myrtle Beach, SC 29588
  • Myrtle Beach Diamond Taxi: 843-448-2886 1354 Cannon Rd., Myrtle Beach, SC 29577
  • Yellow Cab of Myrtle Beach: 843-444-0444 713 63rd Ave., North Myrtle Beach, SC 29572 

Uber Ride

Uber is a great way to get around Myrtle Beach and very popular too. UberX offers low-cost rides servicing the Myrtle Beach area.

The service works via an app you download on your phone. You can select a vehicle on your app, and the registration and drivers’ image will be sent to you. The qualified driver will arrive at your current location in their car and pick you up.

UberX charges a base fee of $1.95 per ride and per minute and per-mile rates as a convenient way to get around.

Long-distance Moving Cost 

And last on the list is long-distance moving cost. For a stress-free journey, it would be wise to call on the pros. We can save you time by offering a packing and moving service. We know how to pack for your peace of mind and promise to take care of your belongings. 

You can also trust us to transport your items safely and rely on us to deliver them on time. At A&M Friendly Movers, we’ll provide you with a quote to move that fits in with your budget.

Conclusion

Moving is a big decision that must be taken seriously. Before making the leap, choices must be made considering all possibilities and costs 

But apart from being super organized and five steps ahead, moving is also a very exciting time and should be viewed as an adventure. 

Now that you know the cost of living in Myrtle Beach, you should be better prepared to hit the ground running when you make the move.

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