South Carolina’s affordable homes and pleasant winter temperatures make the state attractive to retirees. Those who move from more expensive parts of the country can enjoy a better quality of life. You can retire in a coastal area, historic city or university town. Here are the best places to retire in South Carolina.
5. Columbia
Average monthly mortgage cost: $ 1,225
Average monthly rent: $ 920
The capital of South Carolina can be a place to reinvent your life in retirement. Columbia is a university city that is home to the University of South Carolina, where South Carolina residents aged 60 and over can take free classes.
“You have access to all kinds of opportunities for people who want to do lifelong learning at university,” says Sue Ellen Levkoff, chair with the SeniorSMART Center of Economic Excellence at the College of Social Work at the University of South Carolina at Columbia. “For people who want to have a second or third career in retirement, Columbia is a great place to do that. There are these incubators that you can belong to at a very low price and get a lot of support for a business idea.”
[Read: The Best Places to Retire in North Carolina.]
4. Greenville
Average monthly mortgage cost: $ 1,175
Average monthly rent: $ 822
Located in northwestern South Carolina, Greenville is halfway between Atlanta and Charlotte. Locals like to explore Falls Park in Reedy, which has a curved pedestrian bridge that overlooks a waterfall, and the Greenville County Museum of Art. Retirees planning to travel will appreciate the fact that Greenville has an international airport.
“I think many retirees move here to be close to their children and grandchildren who have moved here in search of job opportunities,” said Danielle Harmon, certified financial planner at Boundless Financial Services in Greenville. “It is very affordable, which means that retirees can spend less on their investment portfolios, even though they have a very comfortable retirement lifestyle.”
3. Spartanburg
Average monthly mortgage cost: $ 1,077
Average monthly rent: $ 763
Spartanburg’s low housing cost allows retirees to live well, even with a modest retirement budget. The Spartanburg community strives to welcome people who are new to the area. The Spartanburg Newcomers Club plans monthly activities and special events to help people who move to the area make new friends. The Hatcher Garden and Woodland Preserve was founded in 1969 by retirees Josephine and Harold Hatcher, who moved from Indianapolis to the area. The free garden now offers a place for retirees to exercise, enjoy nature and volunteer. Denny’s restaurant chain moved its California headquarters to downtown Spartanburg in 1991.
[SEE: The Best Places to Retire in Texas.]
2. Charleston
Average monthly mortgage cost: $ 1,508
Average monthly rent: $ 1,114
Charleston’s many charms include coastal scenery, historic architecture, cobbled streets and a unique sense of southern hospitality. You can spend your retirement years exploring galleries, boutiques, landscaped gardens and innovative restaurants. Although housing costs much more than in other parts of South Carolina, Charleston can still seem affordable for people who move from more expensive cities outside the south.
“The big draw for seniors in the area is the climate and the lower cost of living,” said Heather Boger, acting director of the Aging Center at the Medical University of South Carolina in Charleston. “There are many excellent elderly communities in the area that offer amenities specifically for the elderly.”
[See: The Best Places to Retire in Florida.]
1. Myrtle Beach
Average monthly mortgage cost: $ 1,267
Average monthly rent: $ 913
This coastal city on the Atlantic attracts many tourists to its beaches and golf courses. “There are just a few days when you can’t play golf or walk on the beach,” says Joe Taylor, founder of Oak Street Advisors in Myrtle Beach. “Whether you like sunbathing, looking for shells or just a great morning walk to start the day, we have it.”
Low housing costs make retirement near the ocean affordable for retirees. Housing options for retirees include condos on the beach or golf course, new housing developments and retirement communities. Keeping accommodation costs low allows many retirees on a budget to enjoy the region’s dining and entertainment options.