Cost of Living: Myrtle Beach vs Florida for Retirees

We meet a lot of halfbacks: people who retired to Florida, then moved halfway back north to the Carolinas. We also meet folks deciding between the two from the start. Either way, the question is the same: will it actually cost less?

This post is the cost stack we walk through. For the full moving guide, including the Florida roof-age question, read our Moving From Florida to South Carolina post.

A Housing Payment Comparison Framework

We do not publish median prices here because they shift monthly and vary hugely by town on both sides. The fair comparison is home to home: a specific Florida town you are considering against a specific Grand Strand area, at your price range, using current listings. Ask us and we will pull live numbers for the areas you name.

Insurance Questions Florida Leavers Ask

Coastal South Carolina is still hurricane country, so insurance does not disappear as a line item. Wind coverage, hurricane deductibles and separate flood policies all apply here too. The SC Department of Insurance is the official source on how coverage works, and SC Safe Home offers mitigation grants to eligible homeowners. Get real quotes on real addresses before you compare. We will not guess at premiums.

Property Tax and Homestead Differences to Verify

Florida's homestead exemption and South Carolina's work very differently. Florida offers a homestead exemption of up to $50,000 for permanent residents, plus the Save Our Homes cap on assessment increases, per the Florida Department of Revenue (as of October 2026). South Carolina taxes a primary residence at a 4 percent assessment ratio, and offers an age-65 homestead exemption, described below.

South Carolina gives homeowners 65 and older a homestead exemption on their legal residence. According to the SC Department of Revenue (as of October 2026), the statutory exemption covers the first $50,000 of fair market value, and for tax year 2026 the state temporarily added another $25,000 for qualifying homeowners. That extra amount is a one-year budget proviso, so confirm it with your county auditor before counting on it. You also need to have been a South Carolina resident for a full year before you qualify.

One Florida habit to unlearn: losing the Save Our Homes cap when you sell is a real cost on the Florida side, and it does not transfer to South Carolina. A CPA can model both.

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Income Tax Is the Big Difference

Florida has no personal income tax. South Carolina does, with breaks for retirees.

South Carolina does not tax Social Security benefits. The SCDOR retiree tax tips page (as of October 2026) also lists a retirement income deduction of up to $10,000 a year starting at age 65, and an age-65 deduction of up to $15,000 that is reduced by the retirement deduction. Your tax preparer can tell you how these apply to you.

For some retirees with mostly Social Security income, the difference is small. For others with large IRA withdrawals or pensions, it matters. This is a CPA question, not a real estate one.

HOA and Lifestyle Spending

Golf memberships, HOA dues, dining out and seasonal travel can outweigh taxes either way. Compare the HOA documents and the total fees for the actual communities you are considering, not state averages. Our cost of living in Myrtle Beach post covers everyday costs here.

Beach Access Compared

Many Florida retirees are used to driving to a beach park. On the Grand Strand, the city of Myrtle Beach lists its public accesses on cityofmyrtlebeach.com, and Myrtle Beach State Park and Huntington Beach State Park offer quieter stretches with parking. Murrells Inlet and Pawleys Island give you a marsh-and-creek feel some Gulf Coast folks love.

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Who Saves Money on the Grand Strand, and Who Does Not

Retirees often come out ahead here when insurance quotes on their Florida home have become hard to manage, or when they want four mild seasons. Retirees with large taxable retirement income, or with a big Save Our Homes benefit on a long-held Florida home, may not save at all. Run the numbers on your situation, and call us when you want live housing data to plug in. Our Retiring to Myrtle Beach guide is a good next read.

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