Here are 10 pros and cons of living in North Carolina to consider before making this state your home. If youre considering retiring in North Carolina but still require some convincing, Ive lined up more than a few reasons to help you make a decision. Although the good news is that Maine . 6. Want to Retire in North Carolina? 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. Each beach has a distinct vibe and feeling and many are surrounded by quaint coastal towns great for family reunions or a quick weekend getaway. North Carolina is a retiree's paradise when it comes to outdoor recreation. According to the NC Rural Health Research Program, people who live in rural areas often have to travel long distances for care. On average, individualstate and municipal taxescost 9.8% of ones yearly income. Mission was ranked #6 in U.S. News and World Report's North Carolina hospital rankings. Expats, digital nomads and retirees living in North Carolina responded: "People who live in North Carolina enjoy the mild climate, the beautiful beaches, and the friendly people. North Carolina has a diverse range of weather and climate, depending on which region you retire to. The access to nature and plethora of outdoor recreational is hard to beat. 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. Contents1 Which county in NC has the lowest property taxes?2 Do you have to pay property taxes after 65 in NC?3 [] The residents of this state display that Southern charm regularly. Seriously, Ive had days where the temperature soars to 80F by 8am (I mean, what the heck?). For the first time, most Medicare beneficiaries will opt for a private plan as early as this year. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. 1.4 million of the states residents live in poverty, making NC the state with the 15th highest poverty rate. The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. However, after moving to Carolina and making the adjustment, this is one of my personal favorite perks of living in North Carolina. The state has been hit by several major storms, including Hurricane Florence in 2018. Simmons, C. (2023, February 20). Pros of Retiring in South Carolina Beautiful Landscapes Tax-Friendly Good Healthcare System Great Weather Numerous Outdoor Activities Southern Hospitality Convenient Transportation Historically Rich Low Crime Rates Free Education for Retirees Cons of Retiring in South Carolina High Cost of Living Too Much Construction Hurricanes Flood Alligators Over the last 10 years, Greenville has become one of the most vibrant cities in the nation. 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. Americas Health Rankings. North Carolina is an overall safe state for you and your family to call home. While my new state gets snow occasionally (folks arent accustomed to driving in the snow, so be careful), the winters are mild overall. 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. Please wait a moment and try again. Otherwise, it will be difficult to visit the beautiful beaches and mountains. You can thank me later. After all, this state has a lot to offer. But there are still notable drawbacks to retiring in North Carolina. Around 14% percent of residents live in poverty, typically leading to increased criminal activity. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. Retrieved from, Brandon, E. (2021, February 22). Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. Know what that means? The company also offers access to third-party pre . The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. Theres essentially something for everyone. This area is famous for its beaches, lighthouses, and wildlife. For instance, prescription drugs are exempted from taxes, and the local corporate tax rates are quite reduced. It may seem like all of this comes at a cost, but North Carolina actually has a lower cost of living than the national average. Pros of Living in Asheville #1. North Carolina Retirement. To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history. Its important to remember that regardless of where you choose to settle in North Carolina, youre never far from the mountains. Sorry there was an error. Here's what you need to know about the state before you make your move. Please call us using the phone number listed on this page. Retrieved from, Missouri Economic Research and Information Center. According to the Census Bureau, both states ranked in the top five for net migration of people aged 60 and older. 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. However, its important to remember that the cost of living varies from state to state.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-leader-4','ezslot_13',144,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-4-0'); North Carolina has a complicated tax system. A cost of living index above 100 means North Carolina, North Carolina is more expensive. According to the communitys website, it is 10 minutes from a city in Wilmington, 30 minutes from the beach and includes many nature attractions and activities. Theres something for everyone in the mountains of North Carolina. Oops! Receive Helpful Content Straight ToYour Inbox. Thats not to say that youll be greeted with open arms (Ive found locals to be friendly, yet reserved Ill cover this in detail shortly) but you will be welcomed and treated with respect. placing it on the ranking of 26 in the nation. An amount below 100 means North Carolina is cheaper than the US average. Reidsville. And the next 10 years are predicted to bring even more growth. Essentially, the public transport in North Carolina doesnt cover a huge ground and is rather under-serviced, so it becomes particularly tricky to get from one place to another without a car. 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. North Carolina does have a state income tax, which can be unappealing to some retirees and sets it back from a financial perspective from popular retirement states like Florida, which doesnt have tax 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. But one mountain city that stands out is Asheville. 2023 Retire Fearless. Christian Simmons is a writer for RetireGuide and a member of the Association for Financial Counseling & Planning Education (AFCPE). Before moving to North Carolina I found myself living in Chicago, where I braced for winters with the enthusiasm reserved for water-downed cocktails and malfunctioning alarm clocks. Even a carefully planned retirement lifestyle may come with unintended consequences. The low property taxes in the state are one of the reasons for the below-average housing costs. Social Security Income is exempt. Retirefearless.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon. For starters, Social Security income is not taxed and if youre over 65 years old, up to $35,000 of your retirement income is exempt from state taxes. Then we verify the facts with original reports published by those sources, or we confirm the facts with qualified experts. Although North Carolina has several world-renowned hospitals, not all citizens have the same level of access to health care. 3. But I dont want to fool you, its not all sunshine and peach cobbler gossip runs rampant in the rural parts of town and youll need to be mindful of the tea youre spilling. Better with age, exceptional with us! Festivals and events take place throughout the year. How much do you need to retire in North Carolina? 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. Your money will go far there, helping you to have a full retirement. North Carolinas crime rate almost matches the national average. The answer really depends on what youre looking for in retirement since each state offers different benefits. Pros And Cons Of Living In North Carolina First of all, these are the top 10 North Carolina pros and cons: Great sense of community Low cost of living and economic opportunity Temperate weather and mild winters Abundant outdoor activities Access to quality health care High tax burden Sub-par K-12 education High crime rates Lack of weather variety A popular getaway for beachcombers, the Outer Banks is ideal for climbing sand dunes, cruising the ocean, learn more about history, exploring nature, and more. As in North Carolina, South Carolina does not tax Social Security benefits. Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. As the younger population flocks to the more happening and exciting states, they often miss out on the beauty that is NC. The coastal areas are milder, with average temperatures in the 60s and 70s. Find fishing, boating, hiking, golfing, and much more. But even then, its hard to fault someone who considers living in North Carolina the end prize. With a GDP per capita of $64,582, the Virginian economy is ranked 15th out of the country's 50 states.. The city mixes the old with the new in an innovative way, bringing history to life with Civil War landmarks, the Discovery Place, the NASCAR Hall of Fame, and even Carowinds, a sprawling theme park all within the Queen City. With over 300 miles of beaches, you are sure to find one you love. If you havent yet, you must ask yourself if retiring in North Carolina is a good option for you.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[300,250],'retirefearless_com-medrectangle-3','ezslot_3',110,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-medrectangle-3-0'); The truth is that North Carolina is one of the most beautiful and fairly reasonable states in the United States. According to an article from Tax Foundation, the spending power of $100 in North Carolina is equal to $109.53. And its true, kindness comes easily, but friendships are earned (and typically last longer, in my experience). (30) Living in North Carolina (99) Living in Ohio (11) . encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. If you're considering retiring to North Carolina, it's important to research the health care options in the area you plan to live. in the state is 5.8 per 100,000, 10% higher than the national average. If youre the self-sufficient sort youll have plenty to do. It came in as the 20th most-taxed state. The moderate temperatures mean that the outdoors can be enjoyed year-round, keeping retirees active and engaged. The cost of senior living in North Carolina is fairly consistent across the state, coming in at $3250 per month for assisted living care, below than the national average. The first option is to live inland as the worst effects of the hurricane can impact you in the mountains, while the other option is to buy an insurance plan that covers all aspects of hurricane damage. North Carolina is home to a thriving arts and culture scene. Charlotte, Raleigh, Durham, Morehead City, and Asheville had higher housing costs than New Bern, Fayetteville, Greensboro, and Jacksonville. All this to say, both the outdoor recreation and road trip possibilities are endless while living in North Carolina. Good news for retirees eyeing North Carolina as a landing pad for their golden years: State residents 65 and older can, on a space-available basis, audit classes tuition-free at the campuses of. Many of the mountainous small towns typically come with very low costs of living. Plenty of Outdoor Activities 3. 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. Usually, there are two options to steer clear of hurricane damage. 0.77%. Property taxes vary from county and municipality. They also appreciate the state's diverse culture, with its many festivals and events. Find many museums, including the North Carolina Museum of Art and the Asheville Art Museum. Fuel costs are also cheaper than the rest of the country, sometimes by as much as $0.50 per gallon. Im not joking, the debate has become the subject of state legislation with bills being introduced over which of the two prominent BBQ styles should be deemed official. That data found the median monthly mortgage cost was $1,314, and the median two-bedroom rent was $878. Winters were a bear and I was desperate to get out, as such, moving to a place with mild winters was non-negotiable. North Carolina's property tax rates are relatively low in comparison to those of other states. 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. Raleigh and Durham. For instance, with the highest average rent in the United States, a one-bedroom apartment in the. The Appalachian Mountains have a strong folk art and music tradition. I knew that living in North Carolina would require becoming acquainted with a humid sub-tropical climate, but even after 12 years I still cant get used to it. But dont just take my word for it, with an unemployment rate sitting at 3.8%, North Carolina isnt one of the easiest states to find work. Central North Carolina's Piedmont region is home to the state's capital, Raleigh. RetireGuide.com. North Carolina has become one of the best retirement states in recent years. Many of our communities include a wide range of amenities including. The Appalachian Mountains form most of North Carolinas territory, providing the state with. The only downside to the easy going vibe is the lack of ambition you may come across from time to time. Identifying a state with a low cost of living and still offers a vibrant post-retirement lifestyle can be difficult, but North Carolina checks both boxes. Last modified February 20, 2023. https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. If youre new to North Carolina, allow me to fill you in. The board was formed to repeal a 1929 law that had been put in place to provide sterilization for persons that were feeble minded and mentally . We'd love to hear your thoughts. Charlotte, North Carolina is the most populous city in the state and offers residents a big city feel with small-town charm. 2023 RetireGuide LLC. North Carolina is home to the Smoky Mountains and the Blue Ridge Mountains. North Carolina doesnt tax Social Security retirement benefits. Cmon now, my grubby little hands will never squeal! (2021). If you fancy yourself a city-dweller, you wont be disappointed either. The fact is that every place you consider moving to will have its benefits and pitfalls; you will have to decide the factors that are important to you and the ones youre willing to look past. So what does that mean for you? 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. All-in-all, you will find that the big city vibe doesn't come with a significant price tag. You will need to invest in a car to get the most out of living in North Carolina. The median home cost in the city is $260,000, but you can save some by relocating to Durham if you prefer. Top 10 places to retire in NC. If you consider yourself a nature nut, you will love living in North Carolina. Today, we're going to highlight 7 of the best places to retire in North Carolina. However, its important to remember that the cost of living varies from state to state. But North Carolina has a lot to offer, from stunning scenery to tax breaks for seniors. If you havent yet, you must ask yourself if retiring in North Carolina is a good option for you. Now to answer the big question: Is North Carolina a good place to live? Both of those are key areas for seniors and certainly good news. I lived in the Old North State for 12 years and have definitely learned a few things about daily life in North Carolina. North Carolina may be most known for its scenic mountain ranges, but it also has plenty of beach options with 322 miles of coastline. APA You havent lived until youve tasted the irresistible temptation that is vinegar barbecue, its life-changing. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. The murder ratein the state is 5.8 per 100,000, 10% higher than the national average. The coastal region is where you'll find the Outer Banks plus the miles of the Atlantic coastline. There are several prominent health care systems throughout the state that have been nationally ranked for different specialties, including cardiac surgery; rheumatology; ear, nose, and throat; and cancer. The cost of living in North Carolina is relatively low compared to other US states. However, it does so at a reduced rate, with almost 2% on most food. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. Table of Contents. Generally speaking, North Carolina offers more diversity in locations and scenery, from major cities and beaches to full-blown mountain ranges. The rolling landscape is dotted with lakes and reservoirs. For instance, Duke University Hospital is among the best in the country. The state has a moderate climate while still offering four distinct seasons. All Rights Reserved. The average cost of living was $38,295. Hickory. North Carolinas total state and average local sales tax rate is 6.98%,placing it on the ranking of 26 in the nation. You can learn more about our writers, here. The state is best known as the birthplace of Aviation, irresistible barbecue and friendly locals theres so much to love about living in North Carolina. Still, its worth pointing out, especially for those looking to grow their careers after moving to North Carolina. You're signed up for our free newsletter! 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. Thinking about living in North Carolina? One of the benefits of retiring in North Carolina is that the state offers tax breaks for seniors. The state does tax public and private pension incomes, 401(k)s, IRA, and other retirement accounts at the current income tax rate. If youre planning to retire in North Carolina, you have more than a few reasons up your sleeve to do so. 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. Florida and Arizona may be the most popular spots, but they are paired with extreme heat, virtually nonexistent seasons and are as far away as can be from the Northeast or Midwest where many retirees come from. Most weekends can be spend hiking, biking, fishing, swimming or hunting. For instance, with the highest average rent in the United States, a one-bedroom apartment in the District of Columbia costs $2,324 to rent.So, if you move to North Carolina, youll be saving quite a bit on your monthly cost. One of the most significant disadvantages of retiring in North Carolina is a lack of public transportation. The average monthly rent for a 2-bedroom apartment in North Carolina is $825, which is much lower than in many other states. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. 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. Forest City. If it sounds appealing, start looking at these 16 top cities in NC. This site also participates in other affiliate programs such as CJ, ClickBank and more, and is compensated for referring traffic and business to these companies. Of course, your location influences your total costs. . Just when you think summers in North Carolina cant get worse, youll experience the threat of a looming hurricane. Much of determining where to retire may come down to researching where your money will spend the best. Lexington style BBQ (also called Western style) uses only the pork shoulder and employs a ketchup-based red sauce perfected with vinegar and spices. Pros of retiring in North Carolina Beautiful scenery Diversity in locations Low cost of living And the state has the added benefit of generally affordable housing and a low cost of living, even within the cities. North Carolina is home to several historical sites, including battlefields from the Civil War, the Thomas Wolfe Memorial, the first documented gold find in the U.S., and the Battleship USS North Carolina. 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. Whether or not you have access to healthcare programs, insurance, and good hospitals and doctors, is and should be a major factor to consider. What more could you want in a new community? List of the Pros of Living in Charlotte, NC 1. Hurricanes are always a lurking threat for those living along the eastern seaboard, and unfortunately, they can potentially wreak havoc on the residents lives. Worth mention: The flat 4.99% state income tax is one of the lowest in the country, further adding to the lost cost of living in North Carolina. The University of North Carolina, for example, offers a Continuing Education program with a range of general interest courses for community members. Whether youre looking for directions or recommendations for a good restaurant, the locals will be more than enthused about helping you out. In fact. In 2021, MERIC data ranked North Carolina as having the 24th lowest cost of living in the US. Residents 65 and older can deduct up to $12,000 per person of retirement income, subject to income-eligibility limits. 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 We will work closely with you and your family to create a lifestyle that meets care and budget needs while making the most of every day of retirement. The most frequent explanation for North Carolina's increased crime rate is the state's higher-than-average poverty levels. If you're over 65, you can exempt up to $35,000 of your retirement income from state taxes. 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. However, the state will tax other types of retirement income, including 401(k) and pension distributions. It can balance out somewhat, however, since the cost of living and affordability of North Carolina is significantly lower than some similar states that also tax retirement income. And while seasonal weather is a benefit to some, other retirees may simply want to move far enough south to never even have to think about snow again. And often the most popular choice within the southeastern United States is a toss-up between North Carolina and South Carolina. Proximity to Everything You Need; Cons of Moving to Asheville, NC #1. Javascript must be enabled for the correct page display. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. Save my name, email, and website in this browser for the next time I comment. Home to a population of nearly 10.5 million, North Carolina is the 9th most populous state in the country. Healthcare is a massive concern for those looking to move to another state, especially retirees. Were you able to find the information you were looking for on RetireGuide.com? I was fortunate enough to keep my teleworking job while living in North Carolina, so I didnt experience the challenges of find a job firsthand.