Myrtle Beach is a cheap beach town. Dubbed America’s most affordable for 2022, surprised?

Looking for a piece of property with a bird’s eye ocean view at a cost that won’t require winning the lottery? Consider South Carolina’s premier tourism destination.

Say what?

That’s right. Myrtle Beach is America’s fifth most affordable beach town, according to a newly released Realtor. com ranking that puts the rapidly growing city just ahead of Seal Beach, Calif. and right behind Mastic Beach, N.Y.

The recognition comes on the heels of a U.S. News & World Report ranking that named Myrtle Beach as America’s fastest growing city in 2022 for the second straight year.

“The U.S. has over 95,000 miles of shorelines. But most people, when they think of beach towns, they focus on a few dozen destinations,” George Ratiu, manager of economic research at Realtor.com, said in a press release. “However, there are a lot of hidden gems, which offer all the benefits of seaside living at a much lower price.”

According to Realtor.com, the median list price for a single-family Myrtle Beach home is $347,875 based on data measured between May 2021 and April.

That tracks with a May market report from the Coastal Carolina Association of Realtors, which pegs the average price of a single-family home in the region at $365,000 -- a 31 percent jump from where prices sat at the same time last year.

Inventory in Horry County’s largest city is also loosening up. Last month, 172 homes went up for sale, a 7.5 percent uptick from May 2021. And 99.5 percent of houses being sold are hitting their list price.

Still, that growth is coming at a cost. Property taxes are set to increase July 1 by $10 a year for homes assessed at $100,000 as a way to pay for 47 new city workers, including 25 police officers.

This story was originally published June 17, 2022 at 5:00 AM.