If it sounds appealing, start looking at these 16 top cities in NC. All Rights Reserved. We are a publishing team of licensed Nursing Home Administrators, Nurses, Assisted Living Directors, and individuals with vast personal experience with retirement communities and senior living. If youre the self-sufficient sort youll have plenty to do. Top 10 places to retire in NC. The state is 560 miles wide from east to west! JG Wentworth is well known across the country for its structured settlements, and was first founded in 1991. And its true, with median home prices coming in at $330,000, many folks end up moving to North Carolina to fulfill their lifelong dream of owning a home (myself included). Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. Retrieved from, Loughead, K. (2020, February 3). The Appalachian Mountains run through western North Carolina, providing ample hiking, camping, and fishing opportunities. Hurricanes in North Carolina are accompanied by intense winds and unpredictable weather patterns that can cause flooding and severely damage your home. The answer really depends on what youre looking for in retirement since each state offers different benefits. The Appalachian Mountains stretch across most of North Carolina and provide many hiking trails. Most weekends can be spend hiking, biking, fishing, swimming or hunting. The low property taxes in the state are one of the reasons for the below-average housing costs. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-leader-1','ezslot_14',114,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-1-0'); The true reality of a state can often be judged through its people, and if thats the case, then North Carolina truly is the most charming state in the US. Thank you! Winters were a bear and I was desperate to get out, as such, moving to a place with mild winters was non-negotiable. Besides the beautiful scenery, North Carolina offers a mild climate and plenty of amenities that make it attractive to retirees. Living in Pennsylvania . While those certainly exist, there are also major cities that could make for a fun and active retirement lifestyle. If you havent yet, you must ask yourself if retiring in North Carolina is a good option for you. However, the sales tax differs from county to county. You can thank me later. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking. The Tar Heel State offers exceptional opportunities for you to witness the beauty, from the Outer Banks to the Smoky Mountains. The states property tax rate stands at 0.77%, which means that a homeowner has to pay around $770 every year for every $100,000 in home value. The rolling landscape is dotted with lakes and reservoirs. The state is home to some of the best hospitals in the country, including Duke University Hospital and Wake Forest Baptist Medical Center. Forest City. YOUR DREAM RETIREMENT ON YOUR BUDGET From traveling the world to exploring your own backyard, Leisure Care living is fun and easy. Five-star fun. If you prefer the sea to mountaintops, the state has you covered in that department as well. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. But North Carolina has a lot to offer, from stunning scenery to tax breaks for seniors. North Carolinas Medicare quality ranking reflects the availability and effectiveness of Medicare Advantage plans in the state, which are sold privately and are available regionally. Javascript must be enabled for the correct page display. The. One big perk for retirees is that North Carolina will not tax your Social Security, which can give you thousands of extra dollars each year. Best known for the Blue Ridge Parkway and the Appalachian Trail, the mountains of North Carolina also boast stunning waterfalls, one of the oldest rivers in North America, farm-fresh foods, and even some of Americas best craft beer. Here, retirees can enjoy a more peaceful and relaxed pace of life. In 2021, MERIC data ranked North Carolina as having the 24th lowest cost of living in the US. The sales tax is around 6.98%, with municipalities having special leverage. Many retiree-friendly communities have been developed with top-notch health care facilities. As you think about it, the state does have a lot to love for retirement.The state's picturesque landscape,. Summers on the beaches, winters in the mountains, breathtaking views in the fall, and beautiful blooms in the spring North Carolina has it all. Pros Quality healthcare. Your web browser is no longer supported by Microsoft. If we talk about numbers then, South Carolina is a clear winner as the people here pay 0.56% of their home's market value, and also people above 65 years of age get a deduction of about $50K. This post is for you. Pros & Cons of Living in Asheville . More so, to celebrate their states rich and abundant history, North Carolina actively funds and looks after the many museums and historical sites in the state. North Carolina's rich history influences much of the cultural scene. To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. However, its important to remember that the cost of living varies from state to state. Exactly how much your monthly rate is will depend on the care being received, amenities being used, and apartment style chosen. If you consider yourself a nature nut, you will love living in North Carolina. Summers in North Carolina are the worst. The murder ratein the state is 5.8 per 100,000, 10% higher than the national average. Even popular tourist spots like Myrtle Beach can offer affordable living. One of the downsides to living in Maine is the fact that the income tax and retirement income tax rate can be as high as 7.15%. Our calculator will help you determine the life insurance policy size that best fits your circumstance. These same mountains include fishing, boating, whitewater rafting, and rock climbing. Retiring in North Carolina Is North Carolina a good place to live? if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-leader-2','ezslot_11',135,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-2-0');North Carolina has relatively low property taxes. The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. After all, this state has a lot to offer. Otherwise, it will be difficult to visit the beautiful beaches and mountains. Its your time to build your future. isnt one of the easiest states to find work, 16 HONEST Pros & Cons of Living in Georgia (Lets Talk), 12 HONEST Pros & Cons of Living in Minneapolis, 15 HONEST Pros & Cons of Living in Charlotte, North Carolina, Property taxes: 0.84%, well below the national average, Access to the mountains (alright, hills) and the beach. South Carolina's tax code is great for retirees as there are also some substantial deductions for other kinds of retirement income. Best North Carolina Beaches. North Carolina does have a low corporate tax rate, making it more business-friendly. Where do most retirees live in North Carolina? In July of 1933, the North Carolina State Legislature formed the EBNC. South Carolina Is Tax-Friendlier to Retirees Than North Carolina.Kiplinger ranks South Carolina as one of the most-friendly states for taxes on retirees. The Southern states have seen massive growth recently, with the region becoming one of Read More, These Markets Are Projected to Have the Most Home Price Change in 2023. The largest employers in the state are: Walmart, Duke University, Food Lion, Wells Fargo, Lowes and Bank of America. . If youre planning to retire in North Carolina, you have more than a few reasons up your sleeve to do so. The average monthly rent for, a 2-bedroom apartment in North Carolina is $825, , which is much lower than in many other states. The state offers various outdoor activities Whether you enjoy hiking, biking, fishing, or camping, North Carolina has plenty of outdoor activities to keep you busy. Please call us using the phone number listed on this page. According to How Stuff Works, "the average cost of living for a retired couple in South Carolina is about $37,000 a year," which is significantly lower than many other states in the US. You can learn more about our writers, here. Moreover, there are also smaller university hospitals in the state that are nationally ranked. North Carolina cost of living is 90.6. Although North Carolina's crime rate is lower than the national average, some areas of the state still have higher crime rates. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. Average daily temperatures hover around 40F-50F with nights dipping below freezing 28F-35F. One of the reasons people retire to North Carolina is the stunning scenery. Property taxes vary from county and municipality. Many of our communities include a wide range of amenities including. According to a chart from the U.S. News & World Report, North Carolina also has a poor ranking for Medicare quality, coming in at 38th. Retrieved from, Missouri Economic Research and Information Center. Happiness in retirement is the main goal, and having the right information allows us (and you) to achieve that. Now to answer the big question: Is North Carolina a good place to live? Retrieved from, Brandon, E. (2021, February 22). Williamston. It wont come easy (Ill touch on this shortly as well). Since they live in a gorgeous state, youll find most people casually walking around looking happy and enjoying life. Retrieved March 4, 2023, from https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). Regardless of your preference, know this: you cant go wrong but you better learn to defend it. Although the surgeon population for the Charlotte area is beginning to minimize this advantage, the cost of living here is still lower than it is across the United States, and especially along the eastern seaboard. The Best Places to Retire in North Carolina. North Carolina may traditionally be thought of by some as a rugged state filled with mountainous communities. Estimate how long you'll live and explore retirement options for a long life. Central North Carolina's Piedmont region is home to the state's capital, Raleigh. However, with your retirement nearing, you dont have to look past this wonderful state. There's a reason why retiring in the southeast, for example, is such a popular choice: it's the perfect intersection of affordability, convenience, and climate that many retirees crave. Between the breathtaking Appalachian and Blue Ridge Mountains, youll be spoiled of choice. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history. Thats lower than every bordering state except Tennessee. North Carolina has become a popular retirement destination as the state has grown, providing an alternative to extreme-heat states like Florida and Arizona. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our. 3. But there are still notable drawbacks to retiring in North Carolina. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. Consider leaving a review on Google or Facebook. One of the largest is Brunswick Forest, which is located outside of Wilmington. Your email address will not be published. The taxes are not overtly high, but still will cost you more than many other parts of the country. Likewise, rain is not uncommon during the summer months. New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. If youre moving to North Carolina with the hopes of escaping the grind and bustle of daily living, youll find reprieve. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. If youre new to North Carolina, allow me to fill you in. The state averages homeowners pay 0.85% of property value. Taxes - North Carolina's recent income tax reform lowered its rate to a flat 5.57 percent, but there are several states that don't tax resident income at all. North Carolinas total state and average local sales tax rate is 6.98%. Living in North Carolina, cost of living in North Carolina, pros and cons of living in North Carolina, moving to North Carolina, living in North Carolina, cost of living in North Carolina, north Carolina living, Living in North Carolina, cost of living in North Carolina, pros and cons of living in North Carolina, moving to North Carolina, living in North Carolina, cost of living in North Carolina, north Carolina living, Your email address will not be published. With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. You will need to invest in a car to get the most out of living in North Carolina. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our free weekly newsletter. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. Residents 65 and older can deduct up to $12,000 per person of retirement income, subject to income-eligibility limits. Many of the mountainous small towns typically come with very low costs of living. That rate continues to drop from what was 5.75% in tax years 2015-2016. As far as overall health in the state, the United Health Foundation ranks North Carolina 33rd nationally in 2021. As one of the original 13 colonies, you'll find important historical sites in American history, from Revolutionary-era buildings to Civil War battle sites. In fact, according to a 2019 report,1.4 million of the states residents live in poverty, making NC the state with the 15th highest poverty rate. Retrieved from, U.S. News & World Report. Sorry there is a continuing error in our system. For instance, prescription drugs are exempted from taxes, and the local corporate tax rates are quite reduced. During this time of the year, you must be very careful and mindful in case the state authorities issue any alerts. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. As you think about it, the state does have a lot to love for retirement. Partner the intense heat with the constant humidity and youll be begging for a shower before pulling out of the driveway. With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. Our fact-checking process starts with vetting all sources to ensure they are authoritative and relevant. How much money do you need to retire in North Carolina? Most of all, retirees with eyes on West Virginia must weigh the pros and cons of rural living. (n.d.). Regardless of your preference, both city and rural life have an overall laid-back quality about them that I havent seen in other places Ive lived. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. The job market in Raleigh is thriving right now. Hurricanes are always a lurking threat for those living along the eastern seaboard, and unfortunately, they can potentially wreak havoc on the residents lives. North Carolina offers a relatively temperate climate to enjoy. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. This is considered southern etiquette and folks are keen to teach their children manners. But thats not all there is to this wonder. It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. While many of these trials are for hikers, you can also easily come across some excellent trails where you can enjoy horse riding or mountain biking.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-large-mobile-banner-2','ezslot_9',145,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-mobile-banner-2-0'); One of the most popular trails in the state is the Appalachian Trail. Here are 10 pros and cons of living in North Carolina to consider before making this state your home. In her free time, Alissa loves to travel, read, cook, and spend time with her family. North Carolina ranks 19thamongst states with the highest per capita tax. Otherwise, it will be impossible to see the lovely beaches and mountainsides. Moreover, given the vast and diverse landscape, you can engage in a myriad of outdoor activities, such as visiting the beach or trekking, completely free of cost. In sum, heres a quick roundup of the pros and cons of moving to North Carolina. Proximity to Everything You Need; Cons of Moving to Asheville, NC #1. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. Not only will you get amazing service when you visit the store or supermarket, but youll also receive kind gestures from random people you bump into on the streets. North Carolina is the third most popular retirement destination. Theres two types of BBQ (Eastern style and Lexington style) and the topic of the best is hotly debated. You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. Its more of a low-impact retirement destination than Florida or Arizona, keeping many snowbirds closer to home and maintaining the seasonal changes that many Americans enjoy without as much severe weather. Overall, the cost of living in North Carolina comes in 5 points below the national average. MLA Eastern BBQ calls for the smoking of the whole hog (minus the snout) before finishing with a vinegar-based sauce. With lower than average rents, reasonably-priced food options, and free activities, retirees can save their dollars for other opportunities, such as traveling.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-large-mobile-banner-1','ezslot_7',143,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-large-mobile-banner-1-0'); First off, accommodation is the biggest expense that any states residents have to incur. Home to a combination of 21 professional and minor league teams, North Carolina has a football team, minor league baseball teams, basketball, and hockey teams. We'd love to hear your thoughts. The Appalachian Mountains form most of North Carolinas territory, providing the state with. Durham. That data found the median monthly mortgage cost was $1,314, and the median two-bedroom rent was $878. Know what that means? Well, if youre moving to North Carolina with kids in tow then you will want to budget private education into your cost of living in North Carolina. For full transparency, we clearly identify our sources in a list at the bottom of each page. Low Population 4. The south is known for hospitality, and North Carolina is no exception. Sadly, our state has one of the most poorly funded schools systems in the nation. In North Carolina, there is no tax on Social Security Income, income taxes have been lowered a flat rate (and that rate has been decreasing), there is no State Estate Tax, and a low corporate income tax. 2023 Retire Fearless. The average cost of living was $38,295. However, it does so at a reduced rate, with almost 2% on most food. Heck, take a road trip to Great Smokey Mountains National Park (the most visited national park in the country!) 4.3. In fact, Virginia was colonized almost sixty years before South Carolina was. Over the years we've found the best ways to live, how to travel, take on new hobbies and give back. Unlike Eastern style BBQ, the meat is part of the party, but not the whole show. Update your browser for more security, speed and compatibility. And often the most popular choice within the southeastern United States is a toss-up between North Carolina and South Carolina. The Lively Music Scene #5. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. True to form, locals focus on getting to know their neighbors and building a sense of community. You will need to invest in a car to get the most out of living in North Carolina. The state is also far from just mountain ranges and includes some vibrant, fast-growing metropolises. The state is home to a handful of great cities, but most of the Tar Heel State is rural. The scenery is also beautiful, and its one of the few states that is diverse enough to offer everything from small mountain towns to major cities and beaches. Cities such as Raleigh and Charlotte have a public transportation system, but they lack the convenience that other cities, such as Chicago or New York, offer. So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. Either way, since most seniors seek to build a home in a place with moderate weather, North Carolina is an excellent choice or at least a much better choice than Florida or New York. Residents could spend years exploring the state's caverns, gorges, and state parks, but retirees will need to plan their excursions for the summer months before the . This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. Again, it's about researching the specific community you're interested in living in as many areas have low crime rates. Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. In fact. But before I get some sassy remark, allow me to explain. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. North Carolinas total state and average local sales tax rate is 6.98%,placing it on the ranking of 26 in the nation. So Ive told you home much I enjoy the mild winters after moving to North Carolina, but Id be doing you a disservice if I didnt mention the blistering hot summers. The fact is that not everything is rainbows and butterflies in the Old North State. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). Find fishing, boating, hiking, golfing, and much more. Theres something for everyone! Weigh the pros and cons to see if retiring in North Carolina is right for you. If you're considering retiring to the coastal region of North Carolina, it's important to have a plan in place in case of a hurricane. Five-star service. A recent study by MIT found that a single adult (without kids) needs to make a minimum of $31,660 per year to live in North Carolina. District of Columbia costs $2,324 to rent. Receive Helpful Content Straight ToYour Inbox. One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. South Carolina Low Cost of Living. If you fancy yourself a city-dweller, you wont be disappointed either. Were you able to find the information you were looking for on RetireGuide.com? https://www.wral.com/new-study-reveals-best-places-to-retire-in-north-carolina-they-re-all-small-towns/19879509/, https://money.usnews.com/money/retirement/baby-boomers/articles/best-places-to-retire-in-north-carolina, https://assets.americashealthrankings.org/app/uploads/2021-senior-report-%E2%80%93-state-summaries.pdf, https://taxfoundation.org/state-individual-income-tax-rates-and-brackets-for-2020/, https://meric.mo.gov/data/cost-living-data-series, https://web.archive.org/web/20230126082510/https://www.usnews.com/news/best-states/rankings/aging, https://travel.usnews.com/rankings/best-beaches-in-north-carolina/, This article contains incorrect information, This article doesn't have the information I'm looking for, Winner of the Florida Society of News Editors Journalism Contest, Member of the Association for Financial Counseling & Planning Education, Founded an independent, student-run publication at UCF, Leah, H. (2021, September 16).
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