Myrtle Beach, located in the heart of the Grand Strand, is one of the most popular tourist destinations in the United States. Known for its beautiful beaches, warm weather, and southern hospitality, Myrtle Beach has a lot to offer. However, like any place, there are both pros and cons to living in Myrtle Beach.
One of the biggest pros of living in Myrtle Beach is the beautiful beaches. With miles of pristine coastline, residents have easy access to stunning beaches where they can relax, swim, or partake in water sports. Additionally, the warm weather and mild winters make it a great place to enjoy outdoor activities year-round. Myrtle Beach is also home to a variety of attractions, including amusement parks, golf courses, and shopping centers, providing residents with plenty of entertainment options.
On the other hand, one of the cons of living in Myrtle Beach is the cost of living. While the cost of living is generally lower than other popular coastal cities, such as Miami or San Diego, it is higher than the national average. Additionally, the salaries in Myrtle Beach tend to be lower than the national average, which can make it challenging for some residents to make ends meet. Another potential downside to living in Myrtle Beach is the traffic. During peak tourist season, traffic can be heavy, making it difficult to get around the city.
Climate and Weather Patterns
Myrtle Beach, located in South Carolina, has a humid subtropical climate, with hot summers and mild winters. The average temperature in Myrtle Beach ranges from 60°F to 80°F, making it an ideal place for those who enjoy warm weather.
One of the advantages of living in Myrtle Beach is that it receives over 2800 hours of sunshine per year, which is higher than the national average. The warm weather and ample sunshine make it a perfect place for outdoor activities such as golfing, swimming, and water sports.
However, living near the coast also has its challenges. The area is prone to hurricanes, tropical storms, and flooding. It is important to be prepared for these weather events by having an emergency plan in place and keeping up-to-date with local weather reports.
During the winter months, Myrtle Beach experiences mild temperatures, with average highs ranging from 57°F to 61°F and lows between 36°F and 38°F. While snow is rare in Myrtle Beach, it can occur occasionally.
In summary, Myrtle Beach's warm and sunny climate is a major draw for many residents. However, it is important to be aware of the potential for severe weather events and to take necessary precautions.
Cost of Living
Living in Myrtle Beach has its pros and cons when it comes to cost of living. Here are some factors to consider:
Housing Affordability
According to Sperling's BestPlaces, the median home price in Myrtle Beach is $299,700 which is 11.4% less expensive than the national average of $338,100. Renting a two-bedroom apartment in Myrtle Beach costs $1,120 per month which is 21.7% cheaper than the national average of $1,430. However, it is important to note that the cost of living in Myrtle Beach is still higher than the average cost of living in South Carolina.
Taxes and Insurance
Myrtle Beach has a sales tax rate of 8%, which is higher than the national average of 7.3%. Property tax rates in Myrtle Beach are also higher than the national average. According to Redfin, the median property tax rate in Myrtle Beach is 0.46%, which is higher than the national average of 0.35%. Insurance rates in Myrtle Beach are also higher than the national average due to the risk of hurricanes and flooding.
Daily Expenses
The cost of groceries, healthcare, and transportation in Myrtle Beach is lower than the national average. However, the cost of utilities, such as electricity and water, is higher than the national average. The cost of dining out in Myrtle Beach is also higher than the national average.
Overall, while the cost of living in Myrtle Beach is generally lower than other coastal cities in the United States, it is still important to consider all factors when deciding whether to relocate to the area.
Lifestyle and Recreation
Beaches and Outdoor Activities
Myrtle Beach is a coastal city with miles of pristine coastline that offers residents and visitors alike a variety of outdoor activities. The beaches are the main attraction, with soft, white sand and clear blue water. Whether you want to relax in the sun or partake in water sports, there is something for everyone. Residents can enjoy swimming, surfing, paddleboarding, kayaking, and fishing, among other activities. The beach is also a popular spot for walking, jogging, and cycling.
Entertainment and Dining
Myrtle Beach is known for its entertainment and dining options. The city has a vibrant nightlife, with plenty of bars, clubs, and music venues. There are also many restaurants, cafes, and food trucks that offer a variety of cuisines, from seafood to barbecue to international fare. Whether you want a casual meal or a fine dining experience, you can find it in Myrtle Beach.
Community and Culture
Myrtle Beach has a strong sense of community and culture. The city hosts many events and festivals throughout the year, including the Myrtle Beach Bike Week, the Carolina Country Music Fest, and the Myrtle Beach Jazz Festival. There are also many museums, galleries, and theaters that showcase the city's history and culture. The community is diverse and welcoming, with many opportunities to get involved in local organizations and activities.
Overall, Myrtle Beach offers residents a laid-back lifestyle with plenty of opportunities for recreation, entertainment, and community involvement.
Employment Opportunities
Myrtle Beach is a city that attracts many tourists, which in turn creates various job opportunities in the hospitality and tourism industry. The city has a thriving economy with a low unemployment rate of 3.7% as of March 2024.
The city's biggest employers are the healthcare sector, retail industry, and hospitality industry. The Grand Strand Medical Center, Tidelands Health, and Conway Medical Center are some of the top employers in the healthcare sector. The retail industry is also growing in the city, with Coastal Grand Mall and Tanger Outlets providing many job opportunities.
The tourism industry is the backbone of Myrtle Beach's economy. The city has over 60 miles of beaches, which attracts millions of visitors every year. This creates many job opportunities in hotels, restaurants, and other attractions. The Myrtle Beach International Airport is also a significant employer, with over 1500 employees.
However, it is essential to note that the wages in Myrtle Beach are lower than the national average. According to Travel Safe, the median household income in Myrtle Beach is around $20,000 less than the national median. This means that while there are job opportunities available in the city, the salaries may not be as high as other cities.
Overall, Myrtle Beach offers a good mix of job opportunities in various sectors. The city's thriving economy and low unemployment rate make it an attractive place for job seekers. However, it is essential to consider the lower wages when considering a move to the city.
Education System
Myrtle Beach has a good education system that offers quality education to students of all ages. The city has both public and private schools, as well as several higher education institutions.
Public Schools
The public school system in Myrtle Beach is overseen by the Horry County Schools. The district has 27 schools and serves over 22,000 students. Myrtle Beach public schools were rated #10 best in South Carolina by Public School Review. All the public schools are located in or around the city.
Higher Education
Myrtle Beach has several higher education institutions, including Coastal Carolina University, Horry-Georgetown Technical College, and Webster University. Coastal Carolina University is a public university that offers undergraduate and graduate programs in a variety of fields. Horry-Georgetown Technical College is a two-year college that offers associate degrees, diplomas, and certificates in various subjects. Webster University is a private university that offers undergraduate and graduate programs in business, education, and psychology.
Overall, Myrtle Beach offers a good education system for students of all ages. The city has a range of public and private schools, as well as several higher education institutions, that provide quality education to students.
Transportation and Accessibility
Myrtle Beach has a well-connected transportation system that makes it easy for residents to get around the city. The city has a public bus system called the Coast RTA, which operates seven days a week and covers most of the city's major areas. The bus system is affordable and convenient, with regular schedules and frequent stops. The buses are also equipped with bike racks, which is useful for those who prefer to cycle around the city.
For those who prefer to drive, Myrtle Beach has a well-maintained network of roads and highways. The city is easily accessible via the US-17 and US-501 highways, which connect to other major cities in the region. The traffic can be heavy during peak hours, especially during the summer season when tourists flock to the city. However, the traffic is generally manageable and does not cause significant delays.
In addition to the public transportation system, Myrtle Beach also has a regional airport, the Myrtle Beach International Airport (MYR). The airport is served by several major airlines and offers direct flights to several domestic and international destinations. The airport is conveniently located just a few miles from the city center and is easily accessible by car or public transportation.
Overall, Myrtle Beach offers a convenient and accessible transportation system that makes it easy for residents to get around the city. Whether you prefer to drive, take public transportation, or fly, Myrtle Beach has you covered.
Safety and Crime Rates
Myrtle Beach is a famous tourist destination in South Carolina known for its beautiful beaches, amusement parks, and golf courses. However, like any other city, it has its share of safety concerns. Visitors and residents should take necessary precautions to ensure their safety.
According to NeighborhoodScout, Myrtle Beach has a crime rate of 68 per 1,000 residents, which is higher than 94% of the cities in the United States. The website also reports that the chance of becoming a victim of either violent or property crime in Myrtle Beach is 1 in 15.
The crime rate in Myrtle Beach is higher than the national average, but it is important to note that most of the crimes are non-violent. The most common crimes in Myrtle Beach are property crimes, such as theft, burglary, and motor vehicle theft. Visitors and residents should take precautions to protect their valuables and avoid leaving them in plain sight.
The city of Myrtle Beach has taken steps to improve safety by installing surveillance cameras in public areas and increasing police presence in high-traffic areas. However, it is still important to practice common sense safety measures, such as avoiding walking alone at night in unfamiliar areas, staying in well-lit areas, and being aware of your surroundings at all times.
Overall, while Myrtle Beach may have a higher crime rate than some other cities, visitors and residents can take steps to ensure their safety and enjoy all that the city has to offer.
Healthcare Facilities
Myrtle Beach has a well-developed healthcare system that offers a range of medical services to its residents. There are five hospitals in the area, including Grand Strand Medical Center, Conway Medical Center, and Tidelands Waccamaw Community Hospital. In addition to these hospitals, there are also many medical clinics and specialized healthcare services available.
One of the key advantages of living in Myrtle Beach is the quality of healthcare facilities available. The hospitals in the area are equipped with modern medical equipment and staffed by highly trained healthcare professionals. This ensures that residents have access to quality medical care when they need it.
Another advantage of living in Myrtle Beach is the availability of specialized medical services. The area has a number of medical clinics that specialize in areas such as cardiology, neurology, and oncology. This means that residents can receive specialized medical care without having to travel to other cities.
However, one potential disadvantage of living in Myrtle Beach is the cost of healthcare. Healthcare costs in the United States are generally higher than in other countries, and this is true for Myrtle Beach as well. Residents may need to budget for higher healthcare costs, especially if they have pre-existing medical conditions or require specialized medical care.
Overall, Myrtle Beach offers a range of high-quality healthcare facilities to its residents. While the cost of healthcare may be a concern for some, the quality of care available makes it a good choice for those in need of medical services.
Real Estate Market Trends
Myrtle Beach, SC is known for its vibrant real estate market. According to Redfin, housing costs are about 32% lower than the national average, making it an attractive option for those looking for an affordable place to call home. The median sale price of homes in Myrtle Beach is around $330k, which is lower than other popular coastal cities like Miami and San Diego.
As of February 29, 2024, the Myrtle Beach housing market is demonstrating steady growth, with the average home value standing at $301,182, marking a modest 1.4% increase over the previous year, according to Nora Real Estate. Homes in this area typically go pending in around 41 days.
The Zillow estimates that the average home value in Myrtle Beach, SC is $307,680, up 2.2% over the past year. This indicates a healthy real estate market, with a positive growth trend.
According to RocketHomes, the Myrtle Beach housing prices by bedroom type for April 2024 compared to the previous year are as follows:
The home price of 1 bedroom homes increased by 1.2%
2 bedroom homes decreased by 0.7%
3 bedroom homes decreased by 0.7%
4 bedroom homes increased by 0.8%
5+ bedroom homes increased by 0.1%
Overall, the real estate market in Myrtle Beach, SC is showing steady growth, making it a great place to invest in property. With affordable housing options and a positive growth trend, it's no wonder why many people are choosing Myrtle Beach as their new home.
Local Economy and Business Climate
Myrtle Beach has a thriving economy that is driven by the tourism industry. According to U.S. News, the city's unemployment rate is below the national average, and there are plenty of job opportunities in the hospitality, retail, and healthcare sectors. The city also has a growing technology industry, with several startups and established companies choosing to set up shop in the area.
In terms of business climate, Myrtle Beach is known for being business-friendly, with low taxes and a streamlined permitting process. The city has several business organizations that provide resources and support to entrepreneurs and small business owners, including the Myrtle Beach Area Chamber of Commerce and the Grand Strand Business Alliance.
However, it is important to note that the city's economy is heavily reliant on tourism, which can be a double-edged sword. While tourism provides a steady stream of revenue for local businesses and the city government, it also means that the economy is vulnerable to fluctuations in the travel industry. Additionally, the seasonal nature of tourism can result in fluctuations in employment opportunities and income for workers in the industry.
Overall, Myrtle Beach's local economy and business climate offer both opportunities and challenges for residents and businesses alike.
About Samantha Marksberry SC Realtor:
Hello, I'm Samantha Marksberry, your local Realtor in Horry County, South Carolina, specializing in the Myrtle Beach area. With a decade of full-time residency and a lifetime of cherished vacations here, I am deeply committed to helping clients realize their dream of living in our vibrant beach community.
My extensive background in sales and customer service, paired with my passion for interior design, uniquely positions me to guide you through buying your first home, upgrading to your forever home, or investing in a vacation property. As a dedicated mother of two who loves to travel, I value experiences that drive excellence. I'm excited to assist you in your real estate journey and look forward to meeting you soon!
Environmental Concerns
Living in Myrtle Beach can come with some environmental concerns that residents should be aware of. One of the biggest concerns is the impact of hurricanes. Myrtle Beach is located in a region that is prone to hurricanes and tropical storms. While the city has measures in place to mitigate the damage caused by these natural disasters, residents should be aware of the risks and take necessary precautions.
Another environmental concern in Myrtle Beach is the impact of tourism on the local ecosystem. The city's beaches and wetlands are home to a variety of wildlife, including sea turtles, dolphins, and shorebirds. However, the high volume of tourists can disrupt these fragile ecosystems. The city has implemented measures to protect the environment, such as beach nourishment projects and restrictions on beachfront development.
Water quality is also a concern in Myrtle Beach. The city's beaches are regularly monitored for bacteria levels, and sometimes advisories are issued when the water is not safe for swimming. Residents and visitors should be aware of these advisories and take necessary precautions to avoid illness.
Overall, while Myrtle Beach has some environmental concerns, the city is taking steps to mitigate the impact of human activity on the local ecosystem. Residents and visitors can help protect the environment by being aware of the risks and taking necessary precautions.
Frequently Asked Questions
What are the advantages and disadvantages of residing in Myrtle Beach?
Living in Myrtle Beach comes with its fair share of pros and cons. On the positive side, residents have easy access to breathtaking beaches, a warm climate, and a low cost of living. However, low median household incomes and a high tourist population can make the city feel overcrowded and congested at times.
Is it cheaper to retire in FL or SC?
Retiring in South Carolina, especially in Myrtle Beach, can be more affordable than retiring in Florida. The cost of living in Myrtle Beach is lower than in many parts of Florida, and the state does not have a state income tax. Additionally, Myrtle Beach offers a range of affordable retirement communities and activities.
How does the cost of living in Myrtle Beach compare to other similar coastal cities?
Compared to other similar coastal cities, Myrtle Beach has a relatively low cost of living. Housing costs, in particular, are lower than in many other coastal cities. However, the city's median income is also lower than the national average, which can make it difficult for some residents to make ends meet.
What are the safety concerns when living in Myrtle Beach?
While Myrtle Beach is generally a safe city, there are some safety concerns to be aware of. Property crime rates, in particular, can be higher than in other cities. Residents should take precautions to protect their homes and belongings, especially during the busy tourist season.
Can Myrtle Beach be considered a suitable place for families to settle down?
Myrtle Beach can be a suitable place for families to settle down. The city has a range of family-friendly activities and amenities, including parks, museums, and beaches. However, families should be aware of the city's high tourist population, which can make the city feel crowded and busy at times.
What factors contribute to the affordability of Myrtle Beach?
Several factors contribute to the affordability of Myrtle Beach. The city has a relatively low cost of living compared to other coastal cities, and housing costs are particularly affordable. Additionally, the state of South Carolina does not have a state income tax, which can make it easier for residents to make ends meet.
What should one expect when retiring in Myrtle Beach?
Retiring in Myrtle Beach can be a great choice for those looking for an affordable, warm, and beachy location to spend their golden years. The city has a range of affordable retirement communities and activities, and the low cost of living can make it easier for retirees to stretch their retirement savings. However, retirees should be aware of the city's high tourist population, which can make the city feel crowded and busy at times.
