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Take my advice, avoid Georgetown like the plague...
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IMO, that's unfair to Georgetown, as a whole. There is no question that there are areas of Georgetown that has drug problems, but there are also some very nice areas. In the past 4-5 years, the historic area, near Front Street has been going through a significant resurgence and property values in that area are going up significantly. Prior to implosion of the economy, Georgetown was on the verge of a population explosion, since much of the land area just north, up toward Myrtle Beach is grossly over-developed. There are/were a number of large developments in Georgetown that had been approved by County Council, but have been put on hold by the developers, awaiting a stronger economy that will allow further migration of retirees from Northern territories.
The job situation in Georgetown is very poor, with a county-wide unemployment rate in excess of 12%. The local steel mill, the third largest employer in the area, closed indefinitely about 2 weeks ago. Commercial development in Georgetown has been slow to come about. Lowe's and Home Depot have both taken a close look, and backed off. There's a Walmart, but not a very nice one. Other than that, most businesses are local-owned.
Cost of living is always relative. As compared to Charleston or Myrtle Beach, Georgetown's cost of living is not bad. Buying a home in Georgetown is not for the uninformed. IMO, having a good, reliable local realtor would be essential.