If you're considering buying, selling, or investing in South Carolina’s Grand Strand, understanding the cost of living is essential. Two of the most popular destinations—Conway and Myrtle Beach—offer very different lifestyles and price points, despite being just miles apart.

Whether you're relocating, retiring, or investing in rental property, this guide breaks down the real costs so you can make a confident decision.

Overview: Coastal Living vs. Small-Town Affordability

At a high level:

  • Myrtle Beach offers a vibrant coastal lifestyle, tourism-driven economy, and beachfront living.
  • Conway provides a quieter, more residential feel with generally lower housing costs.

For many buyers, the choice comes down to lifestyle vs. affordability.

Housing Costs: The Biggest Difference

Housing is the most significant factor in cost of living—and where these two markets differ the most.

Myrtle Beach Housing

  • Median home prices hover around $279,000–$318,000 depending on the source
  • Condos and beachfront properties drive demand
  • Housing costs are about 30% below the national average

Myrtle Beach remains relatively affordable for a coastal city, but demand from retirees, investors, and vacation buyers continues to push prices upward.

Conway Housing

Typically, 10–20% less expensive than Myrtle Beach

  • More single-family homes and larger lots
  • Less influence from short-term rental markets

Utilities & Insurance: Coastal Premiums Add Up

Living near the coast comes with added costs.

Myrtle Beach

  • Utilities are about 16–22% higher than the national average
  • Flood and wind insurance can significantly increase monthly expenses
  • HOA fees are common in condo and resort-style communities

Conway

  • Lower insurance costs due to inland location
  • Fewer HOA communities
  • More predictable monthly expenses

Groceries, Transportation, and Daily Expenses

 

Interestingly, everyday costs are fairly similar between the two areas.

Myrtle Beach

  • Groceries are about 3–4% higher than the national average
  • Transportation costs are slightly below average
  • Tourist demand can drive up seasonal prices

Conway

  • Slightly lower grocery and dining costs
  • Less traffic, reducing fuel and commute expenses
  • Fewer tourist-driven price fluctuations

Overall Cost of Living Comparison

  • Myrtle Beach cost of living is about 7% lower than the U.S. average
  • However, some reports place its cost index at 107 (slightly above average) depending on methodology
  • Conway is generally considered more affordable overall, especially in housing and insurance

Investment Potential: Where Should You Buy?

Myrtle Beach: Strong Rental Market

  • High demand for vacation rentals
  • Seasonal income opportunities
  • Popular among out-of-state investors

Conway: Long-Term Stability

  • Growing population and suburban expansion
  • Strong demand for primary residences
  • Lower entry price = higher potential ROI for buy-and-hold investors

Quality of Life: What Do You Get for Your Money?

Myrtle Beach

  • Beach access and ocean views
  • Entertainment, dining, golf, and nightlife
  • Higher traffic and seasonal crowds

Conway

  • Historic charm and slower pace
  • Riverfront scenery and local community feel
  • Easy access to Myrtle Beach (about 20–30 minutes away)

Final Verdict: Conway vs. Myrtle Beach

Choose Myrtle Beach if you:

  • Want coastal living and walkable beach access
  • Are investing in short-term rentals
  • Value lifestyle and amenities over lower costs

Choose Conway if you:

  • Want more affordable housing
  • Prefer a quieter, residential environment
  • Are focused on long-term living or rental stability

Bottom Line for Buyers, Sellers, and Investors

Both Conway and Myrtle Beach offer excellent opportunities—but for different reasons.

  • Buyers: Conway stretches your budget further
  • Sellers: Myrtle Beach demand can drive higher prices
  • Investors: Myrtle Beach = cash flow potential; Conway = lower risk and entry cost

If you're unsure which market fits your goals, working with a local real estate expert can help you identify the best opportunities based on current trends.