The typical owner-occupied home in Myrtle Beach is worth about $388,800, 50% above the South Carolina median of $259,000 and 17% above the national median of $332,700. Owners pay a median $1,209 a year in property taxes, about 0.31% of their home's value, lower than the South Carolina rate of 0.48%. The median household earns $60,394 a year, so the median home costs 6.4 times the median income (3.7 times for South Carolina). 61% of occupied homes here are lived in by their owners, and 50% of those owners still have a mortgage.
Myrtle Beach at a glance
| Myrtle Beach | South Carolina | U.S. | |
|---|---|---|---|
| Median home value | $388,800 | $259,000 | $332,700 |
| Median property tax paid per year | $1,209 | $1,251 | $3,119 |
| Property tax as a share of value | 0.31% | 0.48% | 0.94% |
| Median household income | $60,394 | $69,324 | $80,734 |
| Homes lived in by their owners | 61% | 72% | 65% |
| Owner homes with a mortgage | 50% | 57% | 61% |
| Median monthly costs, owners with a mortgage | $1,707 | $1,529 | $1,963 |
| Those costs as a share of the owners' income | 21.1% | 19.7% | 21.0% |
| Median rent | $1,261 | $1,180 | $1,413 |
| Rent as a share of renters' income | 36.1% | 31.1% | 30.6% |
| Median year homes were built | 1994 | 1992 | 1980 |
| Vacant homes | 27.8% | 13.3% | 10.1% |
| Population | 38,371 | 5,296,225 | 334,922,499 |
What a typical home costs per month in Myrtle Beach
At this week's average 30-year rate of 7.11%, buying the median Myrtle Beach home of $388,800 with 20% down costs about $2,355 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,003, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $100,921 for the 20%-down payment. That payment is 47% of the median Myrtle Beach household income of $60,394; at that income and 20% down, the 28% guideline points to a home of about $233,000.
The median rent here is $1,261 a month, so owning the median home costs about $1,094 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $77,760 |
|---|---|
| Loan amount | $311,040 |
| Principal and interest | $2,092 |
| Property taxes (0.31% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| PMI | $0 |
| Total per month | $2,355 |
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| Down payment | $13,608 |
|---|---|
| Loan amount | $381,758 |
| Principal and interest | $2,568 |
| Property taxes (0.31% a year) | $100 |
| Homeowners insurance (our estimate, 0.5% a year) | $162 |
| FHA mortgage insurance | $172 |
| Total per month | $3,003 |
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Questions about home buying in Myrtle Beach
What is the median home value in Myrtle Beach?
About $388,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Myrtle Beach?
Homeowners pay a median $1,209 a year, which is about 0.31% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Myrtle Beach?
For the median home with 20% down at 7.11%, the payment is about $2,355 a month. Keeping that under 28% of gross income takes about $100,921 a year.
More about Myrtle Beach
- Mortgage Refinance in Myrtle Beach
- Debt Relief in Myrtle Beach
- Home Equity Loans in Myrtle Beach
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data