Every quarter ACCRA compiles and publishes its Cost of Living Index, a comparison of the cost of living in more than 300 cities and areas across the country. Participating agencies such as chambers of commerce collect prices on nearly 60 different products and services. In an effort to control random error in the analysis of the data, agencies are expected to collect the same data at the same time for every quarter during the year.
Listed below are just a few examples of how Myrtle Beach compares with the rest of the nation. A composite index score of 100 is the national average.
Average Apartment Rent
$669 (two bedrooms, two baths, unfurnished, approx. 950 sq. ft., excluding utilities except water and sewer)
Average New Home Cost
$214,570 (2,400 sq. ft. living area, conventionally built on site, three bedrooms, two baths, two-car garage)
Average Electric Bill
$224.88 (based on 2,400 sq. ft. living area)
Average Phone Charges
$28.20 (private residence, not including long distance service)
Average Gasoline Price per Gallon
$3.33 (regular unleaded gasoline)
Average Price of a Movie Ticket
$8.60 (recent release, indoor theater, evening rates)
(Source: ACCRA Cost of Living Index (data collected in July 2014)