<p>Neoliberal policy shifts in the USA and other post-industrial societies since the late twentieth century emphasize individual responsibility, reduced social welfare spending, and market-based solutions to social problems. These shifts have increased inequality and as a result, homelessness, in many high-income countries around the world and the USA, is no different. In this paper, we examine the relationship between neoliberal governance and the criminalization of homelessness through a case study of Myrtle Beach, SC. Using publicly available arrest and court records from 2020 through 2024, supplemented with interviews with people experiencing homelessness, we analyzed 6219 arrests involving 1467 individuals identified as homeless. We estimated the financial costs associated with these arrests, including policing, incarceration, judicial, transportation, and medical costs. Findings indicate that arrests for homeless-related expenses increased substantially over the study period. The estimated minimum public costs associated with criminalizing homelessness in Myrtle Beach exceeded six million dollars in 5 years. Interview data further suggest that criminalization contributes to exhaustion, instability, stigma, and prolonged homelessness, while failing to address the structural causes of housing insecurity. We find that the criminalization of homelessness functions to primarily manage the visibility of poverty, rather than reduce homelessness itself. These findings suggest punitive approaches to homelessness are both socially harmful and economically inefficient.</p>