Why This Beautiful South Carolina Town Is Among Top 10 Most Expensive Places To Retire
If you’re lucky, one day you might get to retire. Although, that’s not on my radar for financial reasons. But, if you’re looking to do so, you might want to…
If you're lucky, one day you might get to retire. Although, that's not on my radar for financial reasons. But, if you're looking to do so, you might want to avoid the top 10 most expensive places to retire, including this beautiful South Carolina spot.
10 Most Expensive Places To Retire
Go Banking Rates examined U.S. cities with populations of more than 25,000 that included residents of retirement age to come up with their list of the top 10 most expensive places to retire. Then, they examined the average home values for 2024, mortgages, grocery costs, healthcare and utilities among other key factors in these towns.
And, it's not surprising that a large number of the most expensive places to retire are in Florida. In fact, the study found that nearly half of the 50 most expensive towns in which to retire are in The Sunshine State. But, the state didn't reach the top 10. That 'honor' goes to California.
10 Most Expensive Places To Retire Includes South Carolina Spot
But, what caught my eye was one particular spot that we love in South Carolina. We not only live in South Carolina, but we vacation every year at Myrtle Beach. However, one of our favorite vacations years ago was to Hilton Head, South Carolina.
In fact, my husband and son had the chance to play the gorgeous Harbour Town Golf Links course near the iconic lighthouse.
Debbie NanceA father and son post with a flag at Harbour Town Golf Links in Hilton Head, which was just named one of the 10 most expensive places to retire in the U.S.
But, if you were thinking about retiring to Hilton Head, maybe think again.
This beautiful South Carolina destination landed among the top 10 most expensive places to retire in the U.S. According to the study, 39.2% of the population of Hilton Head is 65 and above. The yearly expenditures from homeowners are just over $84,000.
But, here's what's staggering. The 2024 home values in Hilton Head were more than $1 million. And, the yearly mortgage rings in at $63,000 and change. Grocery costs are more than $5,000 a year, with health care just under $8,000 and utilities just above $4,000.
However, Hilton Head is one of the most peaceful, beautiful places I've been in years. And, of course if you golf, you're in luck. Harbour Town Golf Links is the current site of the RBC Heritage Championship in the spring. And, it's a beautiful course for a relaxing round.
And, this course is blessed with 2 things we find attractive and charming. You more than likely have seen the big lighthouse right on the course. And, one of our favorite spots for shrimp and grits is just beneath the lighthouse. We love the Quarterdeck Restaurant. It's 10 out of 10 for us.
So, if you can afford to retire in style, by all means head to Hilton Head, making the top 10 most expensive places to retire. And, see the full study from Go Banking Rates to find others on the most expensive places to retire list.
These Are The Five Best Cities To Retire In South Carolina
If you're looking for a great place to retire look no further than South Carolina. The Palmetto State offers affordable homes with mild winter temperatures. Additionally, easy access to the coast makes the state attractive to retirees. Retiring in South Carolina gives you the option of choosing a coastal area, historic city, or college town. There are The experts over at US News and World Report ranked the top 5 cities to retire in South Carolina. This has me asking the question, how can I be one of those people who retire in their 30s? #goals.
If your retirement dreams include moving to a quaint town full of relaxation, amenities, and activities then you’re in luck. There are some fantastic places to retire in South Carolina. Whether you want to golf, relax on the beach, revel in small-town living, or be closer to the city you won’t be bored in these cities and towns! Some offer a wide variety of activities perfect for the retiree who wants an active lifestyle. Others are ideal for those looking to fully kick back and relax.
Read the full US News article here or keep reading to see where the top 5 cities to retire in South Carolina are.
5. Columbia
Columbia, South Carolina, USA downtown city skyline from Finlay Park at dusk.
Median monthly mortgage cost: $1,246
Median monthly rent: $955
Columbia has all the benefits of a capital city and all the charm of a southern college town.
4. Charleston
Median monthly mortgage cost: $1,567
Median monthly rent: $1,197
Who wouldn't want to retire in Charleston? You'd be surrounded by all that history, southern charm, and incredible restaurants.
3. Spartanburg
Main Street in Downtown Spartanburg South Carolina SC.
Median monthly mortgage cost: $1,136
Median monthly rent: $825
A low cost of living and proximity to both Columbia and Charlotte makes Spartanburg a great place to retire.
2. Greenville
Once a dilapidated section of Greenville, South Carolina, Falls Park on the Reedy is now a beautiful urban park space with walking trails, and falling water, surrounded by art galleries and restaurants.
Median monthly mortgage cost: $1,223
Median monthly rent: $882
Greenville has gotten a lot of wonderful publicity over the last several years, for the city's revitalized downtown. And with a location halfway between Charlotte and Atlanta, it's convenient.
1. Myrtle Beach
Median monthly mortgage cost: $1,296
Median monthly rent: $976
With its coastal location, numerous golf courses, and tons of restaurants and attractions Myrtle Beach is the perfect retirement spot for those who are go-getters.
