Cost of Living in Murrells Inlet, SC

With a cost of living index of 114, Murrells Inlet, SC is somewhat more expensive than average. Living here is 14% more expensive than the national average and 32% above the South Carolina state average of 82. Murrells Inlet is a smaller community of 10,087 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Murrells Inlet's cost of living. The median monthly rent is $1,702 (29% above the US median of $1,319), and the median home value sits at $355,800 (17% above the national median of $304,900). At current prices, the median home costs roughly 4.7x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Murrells Inlet is $75,438, which is 0% higher than the national median of $75,149. Residents spend roughly 27% of household income on rent. This is near the 30% threshold that financial experts generally consider the upper limit of affordability.

Climate is another factor for anyone considering a move to Murrells Inlet. The area sees an average annual temperature of 64°F, with summers averaging 79°F and winters around 48°F. Annual rainfall totals 48.5 inches spread over roughly 122 days.

Everyday prices in the Myrtle Beach-Conway-North Myrtle Beach, SC (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 6 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.