Myrtle Beach, South Carolina Income Statistics
Myrtle Beach Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
C
Myrtle Beach Below average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Median Household Income | $56,153 | $69,383 | $80,455 |
| Median Personal Income | $41,925 | $52,934 | $60,758 |
| Average Yearly Income Growth | 5.0% | 5.0% | 4.8% |
| Six-Figure Earners | 10.1% | 10.5% | 13.9% |
| $200k+ Households | 7.4% | 8.9% | 13.2% |
The median household income in Myrtle Beach is about 19% lower than in South Carolina. Income has been growing faster in Myrtle Beach (5.0%/yr) than in South Carolina (5.0%/yr).
About 10% of adults in Myrtle Beach earn six figures ($100,000 or more) a year, about the same as the South Carolina average of 11%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Myrtle Beach, South Carolina grew by 52.9% from 2009 to 2024, reaching $56,153 in 2024. That's an average of about 5.0% per year.
Income Inequality and the Gender Pay Gap in Myrtle Beach
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.545 | 0.547 | 0.552 |
| Male Median Income | $49,213 | $62,655 | $69,667 |
| Female Median Income | $45,883 | $49,387 | $56,850 |
| Gender Pay Gap | 6.8% | 21.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Myrtle Beach, it is 0.545, about the same as South Carolina's 0.547, so income here is about as evenly distributed as there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 7% more than women's income in Myrtle Beach, South Carolina. Over a 35-year career, a 7% wage gap accumulates to roughly $116,550 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Myrtle Beach, South Carolina has widened from about -2% to 7% in 2024. Over that period the gap was widest at 11% in 2011. In dollar terms, the gap has widened by $3,988 since 2009.
Sharply against the trend: the pay gap in Myrtle Beach widened by 8.9 points while South Carolina's narrowed by 2.3 points.
Employment
| Metric | Myrtle Beach | South Carolina Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 5.3% | 4.8% | 5.2% |
| Working from Home | 13.6% | 11.5% | 15.0% |
| Commute time (minutes) | 16 | 22 | 22 |
Approximately 927 people are unemployed in Myrtle Beach, South Carolina.
The average commute time in Myrtle Beach is 16 minutes, shorter than the 22 minutes in South Carolina.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Myrtle Beach, South Carolina has fallen from 10.0% to 5.3% in 2024. Over that period the rate peaked at 13.1% in 2013 and fell as low as 3.9% in 2022.
Myrtle Beach, SC Wealth Compared With Nearby Cities
How Myrtle Beach, SC compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Myrtle Beach, SC | 35,303 | $56,153 #3/3 | 5.0%/yr #2/3 | 5.3% #2/3 | 0.545 #3/3 |
| Carolina Forest, SC | 24,923 | $78,534 | 3.1%/yr | 6.3% | 0.523 |
| Socastee, SC | 22,859 | $59,962 | 5.1%/yr | 3.2% | 0.519 |
Conclusion
Considering all these factors, Myrtle Beach, South Carolina has an overall wealth index grade of C, making it about on par with South Carolina, and about on par with the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Myrtle Beach, South Carolina.
How Rich Is Myrtle Beach, South Carolina?
Myrtle Beach has a wealth index grade of C. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a C grade means residents are close to the U.S. average. The median household income is $56,153, about 19% lower than the South Carolina average of $69,383.
How has median household income changed in Myrtle Beach, South Carolina?
Between 2009 and 2024, the median household income in Myrtle Beach, South Carolina rose 53%, from $36,721 to $56,153. Over the same years, income here lagged behind South Carolina as a whole: +53% against +59%.
What was the median household income in Myrtle Beach in 2023?
In 2023, the median household income in Myrtle Beach, South Carolina was $50,274, about the same as in 2022. The South Carolina median that year was $66,973.
What was the median household income in Myrtle Beach in 2020?
In 2020, the median household income in Myrtle Beach, South Carolina was $43,975. By 2024 it had risen 28% to $56,153.
What is the Gini coefficient in Myrtle Beach, South Carolina?
The Gini coefficient in Myrtle Beach is 0.545. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Myrtle Beach, South Carolina?
Since 2009, the income gap between men and women in Myrtle Beach, South Carolina has widened from about -2% to 7% in 2024. Over that period the gap was widest at 11% in 2011. In dollar terms, the gap has widened by $3,988 since 2009.
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