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Low Cost of Living

Disposable income goes much further in the Myrtle Beach area, where the cost of living is typically
7 percent lower than the nation as a whole.

We’re #50 and proud of it! It's usually not a good thing to end up at the bottom of state rankings, but this time it's terrific! That's because being the 50th ranked state means South Carolina taxes its citizens at the lowest rate per capita of all states. – Tax Foundation (2010)

ACCRA Cost of Living

Every quarter ACCRA compiles and publishes its Cost of Living Index, a comparison of the cost of living in more than 300 cities and areas across the country. Participating agencies such as chambers of commerce collect prices on nearly 60 different products and services. In an effort to control random error in the analysis of the data, agencies are expected to collect the same data at the same time for every quarter during the year.

Listed below are just a few examples of how Myrtle Beach compares with the rest of the nation. A composite index score of 100 is the national average

Cities Composite Index Grocery Items Housing Cost Utilities Trans-portation Health
Care
Misc. Goods
& Services
New York, NY (Manhattan) 220.4 135.9 451.4 133.8 126.7 106.2 151.6
San Francisco, CA 161.6 119.5 295.6 95.1 115.2 120.1 116.8
Washington, D.C. 140.1 108.2 249.3 104.1 105.8 98.8  96.9
Boston, MA 139.7 125.8 176.5 144.4 104.4 126.3 130.2
Philadelphia, PA 121.3 113.1 142.9 128.2 105.4 100.2 114.8
Charleston, SC 100.2 105.1 89.4 113.6 96.0 103.2 103.8
Virginia Beach, VA 100.1 93.0 96.4 110.2 96.9 102.7 103.7
Charlotte, NC 95.7 101.9 84.3 106.6 98.7 98.3 97.3
Atlanta, GA 95.3 91.4 87.7 92.1 102.3 102.7 100.0
Myrtle Beach, SC  94.1 100.7 73.9 118.5 96.0 104.3 97.8


ACCRA Cost of Living Calculator


Area Prices as Reported in the Cost of Living Index

Average Apartment Rent
$660 (two bedrooms, two baths, unfurnished, approx. 950 sq. ft., excluding utilities except water and sewer)

Average New Home Cost
$220,444 (2,400 sq. ft. living area, conventionally built on site, three bedrooms, two baths, two-car garage)

Average Electric Bill
$215.13 (based on 2,400 sq. ft. living area)

Average Phone Charges 
$27.65 (private residence, not including long distance service)

Average Gasoline Price per Gallon
$3.25 (regular unleaded gasoline)

Average Price of a Movie Ticket
$8.45 (recent release, indoor theater, evening rates)

(Source: ACCRA Cost of Living Index (2013 Annual Average Data)