North Myrtle Beach in South Carolina is one of the best and most affordable retirement destinations in the South, according to a new list from Southern Living and Investopedia.
The list evaluated median income and monthly housing cost estimates of Census designated cities and towns in southern states from the 2022 American Community Survey. In addition to cost metrics like taxes and housing, Southern Living and Investopedia looked at criteria like the prevalence of restaurants, hospitals and colleges.
With an estimated median monthly housing cost of $1,075, the report shows housing costs in North Myrtle Beach are 8% lower than across the region. On top of that, South Carolina doesn’t tax Social Security Benefits and provides both income tax deductions and property tax homestead exemptions to eligible seniors.
The city is also a popular spot for both older people and transplants. According to the American Community Survey used to create the list, North Myrtle Beach has a median age around 60 years old and about 8% of residents polled had moved to the Palmetto State within the last year.
The list touts North Myrtle Beach as a calmer and more affordable alternative to the city of Myrtle Beach in the Grand Strand, with more than 80 regional golf courses, local seafood and excellent medical facilities in the area. North Myrtle Beach also gets a shout out for its nature at area beaches and Heritage Shores Nature Preserve.
While North Myrtle Beach was the only South Carolina city to make the report, Hickory in North Carolina also earned a spot on the list. With an estimated median housing cost of $960 a month, housing in Hickory is about 17% more affordable than in the South as a whole.
Here’s the full list of the 10 best and most affordable retirement destinations in southern states.
Orange Beach, Alabama
Estimated median monthly housing costs: $1,279
Fredericksburg, Texas
Estimated median monthly housing costs: $1,254
Maryville, Tennessee
Estimated median monthly housing costs: $1,125
Vero Beach, Florida
Estimated median monthly housing costs: $1,099
North Myrtle Beach, South Carolina
Estimated median monthly housing costs: $1,075
Hickory, North Carolina
Estimated median monthly housing costs: $960
Valdosta, Georgia
Estimated median monthly housing costs: $893
Charleston, West Virginia
Estimated median monthly housing costs: $857
Hot Springs, Arkansas
Estimated median monthly housing costs: $810
Englewood, Florida
Estimated median monthly housing costs: $779
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