Horry County · South Carolina · South · 38k residents
Myrtle Beach, SC: economy, jobs & business costs
The site-selection read on Myrtle Beach: labor costs, talent, corporate tax, energy, and business activity, with the South Carolina median as the yardstick. Compare it live against any of 3,000 US cities.
Data coverage: ACS place data; supplementary fields may use state estimates.
Average weekly wages in the surrounding labor market run $963/wk. South Carolina's corporate income tax rate is 5%. Commercial electricity averages 10.6¢/kWh.
Compare Myrtle Beach side by side
Avg. weekly wage
$963/wk
Corporate income tax
5%
Bachelor's degree or higher
33.5%
Commercial electricity
10.6¢/kWh
Economic momentum
How fast Myrtle Beach's economy is moving, ranked against the US cities we track.
64/100
Steady
Ranks Myrtle Beach's residential building-permit and jobs growth against the US cities we cover. The label is relative pace, not a direction, so a market can rank low while some figures still rise. A higher score moves faster, it is not cheaper or better. This is economic activity, not commercial lease rates or vacancy. Not investment or relocation advice.
| ACS median home value | $388,800 |
| Price per sq. ft. | $175 |
| Property tax rate | 0.55% |
| 1-bedroom rent | $1,289/mo |
| 2-bedroom rent | $1,212/mo |
| State & local income tax | 3.39% |
| Sales tax | 7.5% |
| Corporate income tax | 5% |
| Avg. weekly wage | $963/wk |
| Bachelor's degree or higher | 33.5% |
| Commercial electricity | 10.6¢/kWh |
| Businesses per 1k residents | 30.9/1k |
| Wage: Software developer | $129,450 |
| Wage: Registered nurse | $80,640 |
| Wage: General manager | $87,260 |
| Wage: Customer service | $36,510 |
| Wage: Warehouse worker | $35,390 |
| Wage: Heavy truck driver | $46,360 |
| Wage: Electrician | $51,200 |
| Wage: Retail salesperson | $29,320 |
| Cost of living index | 94 |
| Groceries index | 98 |
| Utilities | $175/mo |
| Transit pass | $45/mo |
| Gas price | $2.95/gal |
| Healthcare index | 95 |
| Childcare (per child) | $850/mo |
| Median household income | $60,394 |
| Unemployment rate | 3.5% |
| Population | 38k |
| Crime index | 65/100 |
| School rating | 5.0/10 |
| Walkability | 30/100 |
| Disaster risk | 98/100 |
| Avg. commute | 25 min |
| Sunny days / year | 220 days |
| July high | 87°F |
| January low | 34°F |
| Annual snowfall | — |
| Home price YoY | -1.0% |
| Home price MoM | 0.0% |
| Rent YoY | 0.0% |
| Rent MoM | +0.4% |
| Employment (jobs) YoY | +1.1% |
| Building permits YoY | -4.5% |
| Ocean coast | 7 mi |
| Big lake | 145 mi |
| Mountains | 235 mi |
| Major airport | 93 mi |
| Ski resort | 239 mi |
Popular comparisons
Nearby
- Carolina Forest, SC · 26k
- North Myrtle Beach, SC · 20k
- Red Hill, SC · 16k
- Socastee, SC · 24k
- Conway, SC · 27k
Similar size
- Hilton Head Island, SC · 38k
- Spartanburg, SC · 39k
- Florence, SC · 40k
- Greer, SC · 42k
- Sumter, SC · 43k
Real listings in Myrtle Beach
LoopNet ↗Crexi ↗CommercialCafe ↗
Links open third-party listing searches. WhereToHQ has no paid relationship with these sites.
- Is Myrtle Beach a good place to run a business?
- South Carolina's corporate income tax rate is 5%; average weekly wages in the surrounding labor market run $963/wk; commercial electricity averages 10.6¢/kWh. Weigh these against your own priorities in the business comparison tool.
- What is the cost of living in Myrtle Beach, SC?
- Myrtle Beach indexes at 94 for day-to-day costs against a national baseline of 100, with a typical two-bedroom renting for $1,212/mo and a acs median home value of $388,800.
- How much does a house cost in Myrtle Beach?
- The acs median home value in Myrtle Beach is $388,800 (Census ACS estimate; individual listings vary).
- How much is rent in Myrtle Beach?
- A two-bedroom in Myrtle Beach rents for about $1,212/mo.