Where in SC are best places for middle class to retire? Two are in the Myrtle Beach area
Two Grand Strand locations have ranked among the top cities in the nation as the best places for the middle class to retire.
Murrells Inlet and North Myrtle Beach were ranked among the top 30 towns for the middle class to retire, according to GOBankingRates.
Those who are considered middle-income make two-thirds to double the U.S. median household income, which ranges from about $56,600 to $169,800 in 2022, according to the Pew Research Center. The Census reported that the median household income in 2022 was $74,580.
Of the 30, Murrells Inlet ranks No. 11 with a reported household median income of $71,019, annual cost of living of $49,996, and average Social Security benefits of $26,060. The average value of a single-family home is $438,475.
North Myrtle Beach is listed as No. 21. It has a reported household median income of $69,792, annual cost of living of $54, 861 and average Social Security benefits of $27,638.
The population of those who are 65 and older increased by 17% in 2010 to more than 26% in 2022, according to USA Facts.
The 2020 Census numbers show that Murrells Inlet has a population of 9,740. Of that, 37% were age 65 and older. North Myrtle Beach has a population of 20,303, of which 38.6% were age 65 and older, according to the 2023 Census numbers.
GOBankingRates determined the top 30 towns by using U.S. Census and Federal Reserve data that factored in household median income, average home value, and total cost of living. It also analyzed cities with a minimum population of 10,000 residents, of which at least 25% are ages 65 and older.
