Myrtle Beach, SC Economy


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Myrtle Beach, SC is a great city for those looking to enjoy the beach while still living on a budget. Renting an apartment in Myrtle Beach is significantly cheaper than the US average, at $1,120 compared to $1,430. Even groceries are less expensive in Myrtle Beach, with the Grocery Cost Index 97 versus 100 in the US. Local companies such as MYRTLE TRADING POST, South Strand Realty and Digital Design & Graphics offer unique services and products that make life in Myrtle Beach more enjoyable. In summary, Myrtle Beach offers all of the advantages of living at the beach without breaking your budget.

Myrtle Beach has an unemployment rate of 7.6%. The US average is 6.0%.

Myrtle Beach has seen the job market increase by 1.6% over the last year. Future job growth over the next ten years is predicted to be 38.8%, which is higher than the US average of 33.5%.

Tax Rates for Myrtle Beach
- The Sales Tax Rate for Myrtle Beach is 8.7%. The US average is 7.3%.
- The Income Tax Rate for Myrtle Beach is 7.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.

Income and Salaries for Myrtle Beach
- The average income of a Myrtle Beach resident is $32,691 a year. The US average is $37,638 a year.
- The Median household income of a Myrtle Beach resident is $45,701 a year. The US average is $69,021 a year.

Income by Population Percent

  EconomyMyrtle Beach, South CarolinaUnited States
  7.66
  -5.1%-6.2%
  38.8%33.5%
  9.0%6.2%
  7.0%4.6%
  $32,691$37,638
  $45,701$69,021
  $59,142$85,028
  Population by Occupation
  0.5%1.2%
  0.0%0.5%
  13.1%6.8%
  3.7%10.0%
  1.5%2.5%
  11.5%11.0%
  2.8%4.8%
  0.6%0.8%
  0.8%1.9%
  1.5%4.7%
  4.2%1.9%
  5.4%7.6%
  0.0%0.1%
  5.8%4.2%
  6.4%9.3%
  9.2%14.0%
  3.0%2.1%
  20.9%7.0%
  5.5%4.8%
  3.6%4.7%
Reviews for Myrtle Beach
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Coming from Massachusetts and New York state, I loved the weather, beach and change of lifestyle. Being an outgoing friendly person I met some nice people here along  More

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We were looking for a new city, and Myrtle Beach had had enough press that we were curious to check it out. A 30something and 40something couple, both of us have  More

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If I could give 4.5 instead of 5 I would because Id like to see the traffic flow better with more red lights and see more money put in to landscaping the roadways and  More

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