The all-in monthly cost calculator
The cost to own a home
in Myrtle Beach.
By Devin Day, Operations Officer & licensed MLO, NMLS 2721275 · Reviewed by Timmy Fredrick Nash, Broker-in-Charge · Updated August 29, 2026
The loan payment, property taxes, insurance, HOA dues, and upkeep, added into one monthly number before you offer.
Get the real number on a specific home.
Send the address. We run taxes, insurance, dues, and payment for that exact property, free.
Free, no obligation. We reach out the same day, evenings included. Prefer to talk now? Call 854.333.2135.
The direct answer
What it costs to own a home in Myrtle Beach
Five lines decide it: the loan payment, property taxes, insurance, HOA dues, and upkeep. Two of them surprise almost everyone who moves here. Property tax on the same house runs roughly three times higher when it is not your legal residence. And coastal insurance is often several policies, not one.
The calculator below adds all five, using the same Horry County tax math as our property tax page. It is planning math, not a quote.
The calculator
Your true monthly cost
Tax math mirrors our property tax calculator: Horry County's 2025 certified millage, the Act 388 school exemption on legal residences, and the Myrtle Beach TDF credit. It excludes the 65+ homestead exemption and small special districts. Insurance is your estimate; see coastal insurance costs. Example math for planning, not an offer or quote of credit. Your rate and terms come from your lender.
Before you offer
Two numbers to check before you offer
First, the tax status. The previous owner's bill tells you nothing if their status differs from yours, and the county reassesses when a home sells. The application deadlines and exemptions are on the property tax page.
Second, the insurance quote. Get it during due diligence, not after closing. On a condo, the building's own master policy also decides whether the building can take a conventional loan, which we explain on the non-warrantable condos page. The pieces and how they stack are on the coastal insurance page.
One more difference worth knowing: a condo usually has a lower purchase price and higher dues, because the dues carry the building insurance and exterior upkeep. A house trades dues for direct costs that arrive all at once, not monthly. What dues include, and whether an association can pay for what is coming, is covered in our HOA guide. Whether a condo makes sense at all is covered in are Myrtle Beach condos a good investment.
Want us to look at it for you?
Want the real number on a specific home?
Send the address. We run taxes, insurance, dues, and payment for that exact property, free.
Common questions
Cost to own FAQ
How much does it cost to own a home in Myrtle Beach each month?
Add five lines: the loan payment, property taxes, insurance, HOA dues, and upkeep. The mix moves a lot between a condo and a house and between a primary home and a rental, which is what the calculator on this page is for.
What is PITI?
Principal, interest, taxes, and insurance, the four pieces most lenders count in your housing payment. HOA dues and upkeep sit on top of PITI, and on the coast they matter.
How does the calculator figure property taxes?
It uses Horry County's 2025 certified millage for the location you pick, the 4 percent or 6 percent assessment based on how you will own the home, the Act 388 school exemption for legal residences, and the Myrtle Beach TDF credit. It is the same model as our property tax page, where the full detail lives.
What should I enter for insurance?
Your best current estimate for the specific home, because coastal quotes vary widely by distance to water, elevation, and roof age. Wind, hail, and flood can be separate policies. Our coastal insurance page explains the pieces, and quotes during due diligence give you the real number.
Is a condo cheaper to own than a house?
Often the purchase price is lower but the HOA dues are higher, because the dues carry the building insurance and exterior upkeep. A house trades dues for direct insurance and maintenance costs. Run both through the calculator before deciding.
How much should I budget for maintenance?
A common rule of thumb is about 1 percent of the home value per year, more for older homes and salt-air exposure. It is a planning number, not a bill, but the money gets spent eventually.