For some, the beach is their number one happy place. They count the days until they can be at the beach again to feel the breeze against their skin, to hear the ocean waves crashing against the shore, and to soak in the warmth of the sun. If they could, they'd live at the beach permanently. Is this you? What is it that stops you from moving to the beach? If your answer to that question is around the cost of living, well, we just may have a solution for you there. Because one of the most affordable beach towns in America is right here in South Carolina. Who knows? Perhaps this puts that dream within reach for you.
Myrtle Beach, South Carolina has been named among 34 other towns deemed as the most affordable beach towns in America by GoBankingRates, a popular personal finance website. A few of the other distinguished towns include Gulfport, Mississippi; Ocracoke, North Carolina; and Pensacola, Florida.
GoBankingRates compared median home costs and the overall cost of living index for groceries, healthcare, housing, utilities, transportation, and miscellaneous expenses for beach towns across the country.
Each of the coastal cities that made the list of 35 has a median home price below the U.S. average of $425,177 and an annual cost of living index under 99.9.
The median cost for a home in Myrtle Beach is just $299,700, while the overall cost of living index is 87.4. Interestingly, according to Redfin, the median home sales price is even lower at $261,200.
If you're more interested in rental options, the average rent for a two-bedroom apartment in Myrtle Beach is about $1,760.
Does this put your goal of more regular beach fun within reach? You may also wish to consider living in a suburb of Myrtle Beach instead, in which case we would recommend checking out the smaller, charming city of Conway, which is only about 30 minutes away.
Even if this information tells you that it's too far out of reach right now, with the right plan you could always work towards that goal for a future move. As the saying goes, "A journey of 1,000 miles begins with a single step." Perhaps start out with a book like this one and begin working on a plan: Financial Freedom: The Comprehensive Guide to Achieving Your Financial Goals.
If the beach isn't your happy place, what is?
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