Short answer: Usually yes — if you compare a real Horry County house to a real Florida coastal house, and you count insurance.
Florida still wins the slogan: 0% state income tax. Myrtle Beach / Horry County usually wins the bill you cannot slogan away: purchase price, property tax on a new primary residence, and homeowners/wind insurance, especially inland of Highway 17.
It flips if you:
- Draw a huge taxable IRA every year
- Already own a Florida homestead with a Save Our Homes cap
- Insist on ocean-row Horry and recreate Florida’s insurance problem
- Compare Myrtle Beach condos to an inland Florida ranch
This guide is for 62+ buyers choosing between Horry County and Florida.
1. The 60-Second Scorecard
| Cost line | Who usually wins | Why |
|---|---|---|
| State income tax | Florida | 0% vs SC tax on some pension/IRA after deductions |
| Social Security (state) | Tie | Neither taxes SS |
| Military retirement (state) | Tie / slight SC ease | FL 0%; SC fully exempts military retired pay |
| House price (like product) | Horry, vs most FL | $300k–$450k houses still common off the sand in Mytle |
| Property tax on a new primary home | Horry | 4% assessment + homestead at 65+; FL new buyer resets to market Value |
| Homeowners / wind insurance | Horry inland | FL statewide averages still sit at the top of the U.S. |
| Flood | Parcel vs parcel | VE/AE is expensive in both states |
| HOA / condo assessments | Horry houses | FL condo crisis is the cautionary tale |
| Groceries / services (price parity) | South Carolina | SC regional price parity ~94 vs FL ~103 |
| Estate / inheritance tax | Tie | Neither has one |
| Healthcare access | Tie | Bigger specialist depth; Horry is “very good” for many |
Rule: Florida is cheaper on the tax return. Horry is cheaper on the house and cost of living.
2. Stop Comparing “Florida” to “Myrtle Beach”
Florida is Jacksonville and Naples. Myrtle Beach is Carolina Forest and Garden City SC.
Use pairs:
| If you mean this Florida… | Compare to this Horry… |
|---|---|
| The Villages / Ocala / inland | Conway, Longs, interior Carolina Forest |
| Daytona / Melbourne / Fort Myers suburbs | Socastee, Forestbrook, The Farm / The Parks |
| Sarasota / Naples / Palm Beach / barrier islands | NMB ocean, Garden City, Barefoot waterway — and expect the insurance fight |
A $280k Horry condo is not cheaper than a paid-off Florida house with a 1998 assessment. A $375k ranch in Myrtle is often cheaper to own than a $375k Florida coastal ranch bought in 2026.
3. Housing: Where the First $50,000–$150,000 Goes
Statewide list-price snapshots have shown South Carolina medians below Florida medians (one table: SC about $360k vs FL about $415k). Local product matters more.
Horry County realistic retiree bands:
- Socastee / Longs / Conway: often $250k–$380k for a usable 3-bed
- Carolina Forest workhorses: often $300k–$450k
- Newer planned (The Parks and similar): often $400k–$500k+
- Barefoot SF: $400k–$800k+; villas cheaper until dues
- Ocean-adjacent: beach premium + flood/wind
Florida coastal “same lifestyle” housing is frequently higher. Florida inland can meet Horry on sticker. The gap reappears on insurance and new-buyer tax.
Horry condos have been a buyer’s market (~8 months of supply in snapshots) while single-family sat nearer 5 months. Cheap condos are not cheap ownership if the regime fee and assessment are Florida-shaped.
4. Property Tax: The New-Buyer Trap in Florida
South Carolina legal residence
- Assessed at 4% of fair market value (second homes 6%)
- Age 65+ homestead: first $50,000 FMV off the taxable base
- Unincorporated Horry (Carolina Forest, much of Socastee, Longs, Conway): no city millage
- Inside Myrtle Beach or North Myrtle Beach: add city mills
Local guidance often lands a $350k–$500k Horry primary in a low four-figure annual tax band, address-dependent. Tax Foundation-style county figures have put Horry’s effective rate well below many Florida coastal counties (Horry cited near 0.38% vs Volusia/Duval/Brevard/Palm Beach often 0.68%–0.82%).
Florida
- Homestead exemption exists
- Save Our Homes caps assessment growth for the current owner…not new buyers!
- A 2026 buyer taxes adjusts up to the current market value
- Two houses on one street can have wildly different bills
If you already own Florida with a locked cap, moving inside florida can raise your property tax. If you are buying Florida now, Horry’s 4% + homestead is the cleaner and a huge benifit new-resident deal.
5. Insurance: This Is Why Halfbacks Leave Florida
Florida homeowners insurance remains among the most expensive in the country. Published 2026 averages disagree by methodology — FLOIR admitted-market figures near $3,800 including wind, other compilers printing statewide means of $4,000–$8,000+. Coastal counties are worse. The market cooled slightly after 2022–23 reforms. It did not become Iowa.
South Carolina statewide averages cluster lower than Florida in most tables, though oceanfront Horry is not cheap (but thats not where most people live anyway / Vacation). Inland new construction with a documented roof and wind-mitigation form is where Horry’s advantage is largest.
Horry stack to budget
- HO-3 + wind (sometimes separate)
- Named-storm deductible often 2%–5% of dwelling
- Flood only if the zone or your risk tolerance says so (required in AE/VE with a federally backed loan)
Ocean-row Horry can still print a Florida-looking insurance bill. Carolina Forest / Conway / Longs is the version of “cheaper than Florida” that usually survives a quote.
6. Income Tax: Do Not Skip This Line
Florida: 0% on wages, pensions, IRAs, capital gains at the state level.
South Carolina (2026): There is a state income tax (reform has been moving the top rate into the low-to-mid 5% area — confirm the current SC1040). What retirees actually use:
- Social Security: not taxed
- Military retirement: fully exempt
- Retirement-income deduction + age-65 deduction (commonly discussed as about $15,000 per person 65+ on non-SS retirement income — verify current law)
- No estate or inheritance tax
Who still prefers Florida on tax alone
- Large Roth conversions or Large IRA withdrawals
- Big capital-gains years
- Working retirement with W-2 or Large business income
Who often nets even or better in Horry
- SS + modest pension, average person
- Military + SS
- Households whose Florida insurance gap is larger than the SC income-tax bill
7. HOA, Condos, and the Assessment Problem
Florida’s post-Surfside reserve rules mailed five-figure bills. That is a core reason people shop Horry.
Horry still has:
- Farm / Parks dues (~$100–$120 range on many SF listings)
- Barefoot master + sub + optional golf
- Oceanfront regime fees of $400–$1,200+/month and special assessments
If you fled a Florida condo, buy a Horry house, not another tower, unless the reserve study is boring.
8. Everyday Living: Price Parity, Heat, and the Drive Home
Bureau-style regional price parity has South Carolina under 100 and Florida over 100 — roughly a 10-point purchasing-power gap at the state level. Groceries, services, and restaurant tabs are not Naples.
Other non-tax reasons halfbacks cite:
- Slightly shorter, less brutal summers than much of Florida
- Closer to Ohio / Pennsylvania / New Jersey grandkids
- Myrtle Beach inbound migration still strong
Tradeoffs:
- Horry medical is regional, not Tampa-scale
- Tourist season is real on the beach road
- You still get hurricanes
9. Sample All-In Compare (Teaching Numbers Only)
Couple, both 67, SS $48k, pension/IRA $40k, buying a $375,000 primary house, paid cash.
| Line | Inland Horry (e.g. Farm / Longs) | Florida coastal suburb, new purchase |
|---|---|---|
| Property tax | Often ~$1,000–$2,000 | Often higher after market reset |
| HO-3 + wind | Often lower than FL coastal | Statewide and county averages run high |
| Flood | Maybe $0 in X; quote ponds | Quote AE/VE |
| SC vs FL income tax | Small or modest on $40k after deductions | $0 |
| HOA | $0–$1,500/yr typical SF | Varies; condos can dwarf this |
If Florida insurance + tax exceeds Horry insurance + tax + SC income tax, Horry is cheaper. That is the only test that matters.
10. Who Should Stay in Florida
- Homestead cap you would be foolish to give up
- Doctors you cannot replace
- Income mix that makes SC tax painful
- You want year-round heat on purpose
- You were going to buy VE Horry anyway
11. Decision Framework
- New Homes Inland Horry or ocean Horry?
- New Florida purchase or existing capped homestead?
- SS-heavy or IRA-heavy?
- House or condo?
- Two insurance quotes on specific addresses?
- 4% filing plan if SC is home?
If 1 is inland, 2 is a new buy, 3 is SS-heavy, and 4 is a house — Myrtle Beach is usually cheaper.
If 2 is a 1999 cap and 3 is a $150k IRA draw — do the 1040 first.
12. FAQ
Is Myrtle Beach cheaper than Florida for retirees?
Usually yes on housing + new-buyer property tax + inland insurance. Not always on state income tax.
Does South Carolina tax Social Security?
No.
Will I save on insurance?
Inland Horry: often. Ocean-row Horry: maybe not enough to matter.
Is the cost of living lower?
State price-parity figures say South Carolina buys more per dollar than Florida. Your grocery cart will agree more than your oceanfront quote will.
What price house should I expect?
Many full-time retirees land in the $300k–$450k band off the sand.
Should I buy a condo to save money?
Only after HOA + insurance + assessments. That is how Florida got expensive.
13. Bottom Line
Myrtle Beach is cheaper than Florida for retirees when you buy a primary house inland of the dunes and you live on Social Security plus a moderate pension.
Florida is cheaper when your income is large and taxable at the state level, or when you already own a capped homestead.
Compare two addresses and one tax return. Do not compare two slogans.
