Myrtle Beach Named as One of the Most Affordable Beach Towns in the Country

In a recent list compiled by Realtor.com, Myrtle Beach was named as one of the top-5 most affordable beach towns in the United States.

For this list, Realtor.com only considers “The biggest metropolitan areas with the highest share of listings with keywords such as “beach,” “beachfront,” and “ocean.”” The affordability rankings are determined based on an area’s median prices for the 12-month period between May 2018 and April 2019.

Myrtle Beach ranked 4^th overall in affordability, an improvement from the city’s 5^th place position in last year’s list. This improvement comes despite an increase in median home price from $234,000 in 2018 to $245,233 in 2019.

The Myrtle Beach area boasts more than 3,000 listings under $200,000. The majority of these listings consisted of townhomes and condos on or near the water. These properties are particularly popular with second homeowners interested in buying a property to rent out as a secondary source of income.

In addition to a lower than average cost of real estate, Myrtle Beach residents reap the added benefits of an astonishingly low tax rate as well as booming economic development opportunities. According to statistics recently released by the ACCRA, Myrtle Beach residents on average pay 6% less on basic expenditures than people living in similar coastal communities.

If you have always dreamed of owning a home at the beach but have always been afraid of breaking the bank, turn to your friends at Better Homes and Gardens Real Estate Elliott Coastal Living. For more than 60 years, our friendly staff and real estate professionals have been helping people find their forever home in the Myrtle Beach area at a reasonable price. Give us a call or stop by our office today to learn just how reasonable owning a home at the beach really can be.