Is It Cheaper to Live in Myrtle Beach or Florida? A Detailed Cost Comparison
Are you considering a move to either Myrtle Beach, South Carolina, or the Sunshine State of Florida? If you find yourself torn between the allure of Myrtle Beach, South Carolina, and the vast expanse of options in Florida, you’re not alone. One of the primary factors influencing your decision is the actual cost of living. Both destinations offer beautiful weather, coastal charm, and an array of amenities, but which one is more affordable? Let’s dive into a detailed cost comparison so that you can make an informed decision.
Analyzing the Numbers
Let’s compare the actual cost of living in both areas.
Housing Costs:
Myrtle Beach: The median home price hovers at $299,609, up 0.9% over the past year. This area offers affordable housing options.
Florida: Cities like Orlando and Jacksonville have median home prices of $375,176, up 3.9% over the past year. Upscale areas such as Miami and Naples command significantly higher rates.
Utilities:
Myrtle Beach: Moderate utility costs are the norm, covering essentials like electricity and water.
Florida: With its sweltering summers, Florida often translates to higher utility bills, particularly for air conditioning.
Taxes:
Myrtle Beach: South Carolina has a state income tax but relatively low property taxes. Property taxes rank among the nation’s top 5 lowest property taxes for full-time residents.
Florida: The absence of state income tax in Florida, the state offsets that with much higher property taxes, depending on the county.
Transportation:
Myrtle Beach: Transportation expenses are generally lower, with manageable gas prices and minimal tolls.
Florida: A sprawling state, Florida’s transportation costs vary widely, with tolls and parking fees higher than suburban hubs.
Healthcare:
Myrtle Beach: Healthcare costs in Myrtle Beach align with the national average, with many top-notch medical facilities available.
Florida: An older healthcare infrastructure may cause delays in access times. Florida offers quality services, albeit with varying costs based on location and insurance coverage.
Groceries and Other Expenses:
Myrtle Beach: Everyday expenses like groceries remain on par with national averages.
Florida: Similar to Myrtle Beach, Florida’s cost of living is influenced by factors such as location and lifestyle choices.
Insights from Real Residents
To gain a real-life understanding of what is really happening, it’s essential to gain access to the experiences of individuals who’ve already made the leap:
Myrtle Beach Area Homeowners: Most county residents praise the affordability of the area. Residents enjoy the coastal lifestyle, finding many fun things to do, ambiance, and a vibrant community.
Florida Natives: While acknowledging Florida’s diverse appeal, some note the higher cost of living in certain regions, mainly metropolitan areas.
Making an Informed Choice
When grappling with the question of affordability, consider these pointers:
Personal Finances: Depending on your financial situation, income, savings, and potential job opportunities can be the deciding factor.
Lifestyle Preferences: Think about your lifestyle priorities and how much they align with each location’s offerings.
Long-Term Outlook: Look beyond immediate costs and consider the broader implications for future increases, your financial well-being, and quality of life.
Just remember both Myrtle Beach and Florida present solid options, but each has unique costs. Whether you opt for the tranquil shores of Myrtle Beach or the dynamic landscapes of Florida, we hope your choice is fulfilling and financially sustainable in your next chapter ahead.
Remember, while affordability is important, it’s just one piece of the puzzle. Moving is a big deal, but you didn’t get to where you are in life today without some big decisions already. This next journey should also be an exciting new chapter of your life; we wish you success!
