Myrtle Beach 55+ Retirement Budget & Cost of Living

HOA Dues & Home Prices by Community

The Myrtle Beach 55+ market spans 60 miles of Grand Strand coastline, and the monthly cost of living in it varies a lot depending on which of the six communities researched most often — and which stretch of the corridor — you land on. Del Webb Grande Dunes and Del Webb North Myrtle Beach carry the highest HOA dues in this set, roughly $280–$320 a month, but they also carry the newest construction and the most amenity-heavy clubhouses. On the other end, Myrtle Trace in Conway runs roughly $100–$150 a month with homes priced in the low $200Ks — the deepest value tier in the market, about 25–35 minutes inland from the beach.

These are estimates based on published rates and community data — always verify current HOA dues directly with each community before budgeting against them, since fees change and often include different bundles of amenities, cable, and landscaping from one community to the next.

South Carolina Taxes & Horry County Reality

South Carolina does not tax Social Security income, which is one of the biggest recurring line items in most retirees' budgets. On top of that, Horry County stacks several property tax advantages specifically for owner-occupant primary residents age 65+. A primary residence is assessed at a 4% ratio versus 6% for a second home or investment property on the identical home. Qualifying owners 65+ can also apply a homestead exemption that removes $50,000 of fair market value from the assessment, and primary residences are exempt from the local school operating millage (roughly 130 mills) that non-primary owners still pay.

Put together on a $400,000 home in Horry County: a 65+ primary owner-occupant is estimated at roughly $900–$1,200 per year in property tax, while a second-home or investor owner on the same $400,000 property is estimated at roughly $4,200–$4,800 per year — an annual savings in the range of $3,000–$3,600 for the qualifying primary resident. Each piece (the 4% primary ratio, the $50K homestead exemption, and the school mill exemption) has to be filed for separately with the county; none of them apply automatically.

Putting the Budget Together

The real monthly cost of 55+ living on the Grand Strand is the sum of three pieces: the HOA dues for the specific community you choose, the property tax bill after the SC and Horry County exemptions you qualify for, and the mortgage or cash outlay on a home somewhere between roughly $100,000 in Conway's inland value communities and $1,000,000+ at the top of Del Webb Grande Dunes. Because those three numbers move independently — a lower-HOA community can sit on a higher-priced lot, and a modest home in one micro-market can carry different tax treatment than an identical home a few miles away — the only way to get an accurate number is to run it for the specific address and community you're considering.