Wilmington vs Myrtle Beach vs Nashville — three coastal and inland Southeast markets, three different tax environments. The math for buyers who are comparing all three.
| Factor | North Carolina (Wilmington) | South Carolina (Myrtle Beach) | Tennessee (Nashville) |
|---|---|---|---|
| State income tax | 4.5% flat (declining to 3.99% by 2027) | Graduated up to 6.4%; large retirement exclusions | Zero — all income |
| Social Security tax | Exempt | Exempt | Exempt |
| IRA / pension income | Taxed at 4.5% (with deductions for 65+) | Large exclusion — up to $15K/person retirement income deduction | Zero |
| Property tax — $500K home (est.) | ~$2,500–$3,000 (Brunswick Co.) | ~$900–$1,500 (Horry Co. with all exemptions) | ~$2,750–$3,250 (Wilson Co.) |
| 65+ property tax protection | Homestead exclusion — $38,800 income limit | 3-layer Horry Co. stack — very low effective rate | Freeze — locks bill completely; $63,470 Wilson Co. limit |
| No CDDs | Correct — NC has no CDD structure | Correct — SC has no CDD structure | Correct — TN has no CDD structure |
| Beach access | Yes — Wrightsville, Carolina Beach 15–25 min | Yes — Grand Strand 5–15 min | No — landlocked market |
| Top healthcare | Novant/NHRMC — strong regional | MUSC (Charleston) — 90 min | Vanderbilt UMC — top 20 nationally |
Horry County’s 3-layer exemption stack produces effective rates well below both NC and TN for qualifying 65+ buyers. If property tax minimization is the primary financial goal, Myrtle Beach wins. The trade-off: lower income tax protection than Tennessee (SC still has state income tax on IRA draws above its retirement deduction), and no beach access as immediate as Wilmington’s.
Zero income tax on all income. No exclusion threshold. No phase-out. For buyers drawing $100,000+ in IRA and pension income, Tennessee saves $4,500–$8,000/year in state income tax compared to North Carolina and more compared to South Carolina above the retirement deduction threshold. The trade-off: no beach, hotter summers.
Wilmington is the only market of the three where real Atlantic Ocean access is a weekly reality at reasonable 55+ community price points. The tax environment is not as favorable as Tennessee or South Carolina, but it is genuinely competitive — especially for buyers whose income is largely Social Security (exempt) and modest IRA draws. For the buyer who wants coastal living with reasonable tax costs and genuine small-city culture, Wilmington has no direct equivalent in our coverage.
If beach access is non-negotiable: Wilmington or Myrtle Beach. Between the two, Wilmington has lower property tax than Horry County’s published rates but Horry County’s 65+ exemption stack often produces lower actual bills. If income tax elimination is the primary driver: Nashville. If lowest total annual housing cost is the goal: Myrtle Beach often wins on property tax; Nashville often wins on income tax. Wilmington sits in the middle — not the cheapest overall, but the only one with genuine city character and direct Atlantic access.
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