MYRTLE BEACH, S.C. (WBTW) — The Massachusetts Institute of Technology (MIT) created a tool to calculate how much money a household has to make to live in an area as a single person, couple, and with or without children.
In the Myrtle Beach metro area, which includes Myrtle Beach, Conway, and North Myrtle Beach, a single person with no children who works full-time (2,080 hours per year) needs to make $15.13 per hour, or $31,470 per year before taxes. With one child, that more than doubles to $30.65 per hour or $63,752 per year, according to the calculator.
Two adults, with one working, without children, need to make $24.43 per hour or $50,814.40 per year. With one child that bumps up to $29.92 per hour or $62,233.60 per year. At the extreme end, a single person with three children needs to make $46.49 per hour or $96,699.20 per year, according to the calculator.
In Horry County, a single person with no children needs to make $15.74 per hour or $32,739.20 per year, according to the calculator.
South Carolina’s minimum wage is $7.25. According to the calculator, there is no county in South Carolina where a single person without children could afford to live on the state’s minimum wage, based on typical expenses.
View the living wage calculator on the MIT website. The calculator also lists the typical expenses used to calculate the living wage.