For many retirees, Myrtle Beach represents a specific vision of retirement: morning walks on the beach, afternoon rounds of golf, lower taxes than many Northeastern states, and a cost of living that still looks manageable on paper. The appeal is obvious. The harder question is what that lifestyle actually costs in 2026 once housing, insurance, healthcare, taxes, and everyday expenses are added together.
The answer is more nuanced than many retirement calculators suggest. Myrtle Beach remains less expensive than many coastal retirement destinations, but the numbers work only when the full cost of living on the Grand Strand is priced realistically.
What it actually costs to live on the Grand Strand
South Carolina lands at a cost-of-living index of 94.7, below the national average, while Florida sits at 102.2. Coastal Horry County looks favorable on housing but less so on insurance, so the budget has to be built line by line.
- Housing: The median list price in Myrtle Beach proper sits around $265,000, with Zillow showing a median sale price near $272,000 and Redfin showing a lower three-month median sale price near $232,000. Single-family homes often price higher than the headline median, while condos pull the overall number down.
- Insurance is where reality diverges from the brochure. A standard HO-3 policy in Myrtle Beach now averages roughly $4,500 a year for $300,000 in dwelling coverage. Homes east of Highway 17 or in flood zones carry combined wind, hail, and flood premiums north of $7,000. Plan on $5,500 to $8,000 annually if you live near the water.
- Healthcare for a 65-year-old couple on Medicare follows a predictable structure. Part B in 2026 is $202.90 per person per month, with a $283 annual deductible. Add Medigap Plan G and Part D for each spouse, plus dental and vision out of pocket, and reserve about $12,000 to $14,000 a year. Higher income retirees cross the first IRMAA tier and add another $81 per person per month.
Groceries for two on the USDA moderate cost food plan run near $11,000 a year. Utilities, internet, and phone add roughly $3,800. Vehicles, home maintenance, HOA dues, gifts, travel, and income taxes on withdrawals belong in a miscellaneous and reserves bucket of $12,000 to $15,000 a year.
The math, in plain dollars
A comfortable couple spending roughly $72,000 a year breaks down as: $7,000 insurance, $1,200 property tax, $13,000 healthcare, $11,000 food, $3,800 utilities, $14,000 reserves and discretionary, and $22,000 for dining out, golf, beach club, vehicle replacement, and state income taxes.
South Carolina exempts Social Security entirely and, under the new H. 4216 structure effective for the 2026 tax year, applies a 1.99% rate on the first $30,000 of taxable income and 5.21% above that, minus a $966 credit. Two average retired workers collect $2,071 a month each after the 2026 COLA, or about $49,700 a year of tax-free state income. That leaves a gap of roughly $22,000 to fill from the portfolio.
At a 4% withdrawal rate, a $22,000 gap requires a $550,000 portfolio. Push spending to $80,000 and the gap grows to $30,000, requiring a $750,000 portfolio. With the 10 year Treasury at 4.45% and the fed funds rate at 3.75%, a treasury ladder or short duration bond fund can carry a meaningful slice of that gap without forcing equity sales in down years.
One expense not included in the base budget is boat ownership. For retirees drawn to the Intracoastal Waterway, nearby marinas, and fishing culture of the Grand Strand, annual costs can rise quickly. Slip fees, insurance, maintenance, fuel, registration, and periodic repairs can add several thousand dollars per year even for a modest vessel. Retirees planning to keep a boat should build those costs separately rather than assuming they fit inside a standard retirement budget.
The Coastal Expense Most Retirees Underestimate
Many retirement calculators do a reasonable job estimating housing costs but fail to capture the long-term cost of owning property near the coast. Insurance premiums along the Grand Strand have risen much faster than broader inflation in recent years, and homeowners must also account for roof replacements, HVAC systems exposed to salt air, storm-related repairs, and rising deductibles.
A homeowner paying $5,000 annually for insurance today could easily face materially higher costs over the course of a 20-year retirement. Combined with major maintenance cycles, those expenses can consume a growing share of a retiree’s budget and gradually crowd out discretionary spending that was originally earmarked for travel, dining, golf, or family activities.
Two decisions can materially improve the math. First, properties located farther inland often carry significantly lower wind and flood insurance costs. Second, some homeowners choose higher wind and hail deductibles and maintain a dedicated cash reserve to cover those risks. On a $300,000 home, a 5% deductible represents a potential $15,000 expense, making a separate reserve fund a practical planning tool.
The Portfolio That Makes the Numbers Work
For a couple, both age 65, with a paid-off home, two average Social Security benefits, and a budget that realistically accounts for coastal insurance and maintenance costs, a portfolio of roughly $650,000 to $800,000 can support retirement spending under a 4% withdrawal framework. A single retiree generally needs a larger portfolio because many major expenses, including housing, insurance, and healthcare, do not decline proportionally when only one person occupies the household.
The key takeaway is that Myrtle Beach retirement planning should focus as much on carrying costs as on home prices. Housing may remain relatively affordable compared with many coastal markets, but insurance, maintenance, and storm-related expenses often determine whether the long-term retirement budget remains sustainable.
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