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. Are you considering buying a house in the mountains of North Carolina but arent sure where Read More, 8 Best NC School Districts for Buying a House Recall how I mentioned southern hospitality as one of the best things about living in North Carolina? encounter a violent crime, and 24% encounter a property crime, with the overall crime rate being 28.72. On the flip side, NC has a high-than-usual crime rate, increased chances of hurricanes, higher taxation, and a poor transportation system. Better with age, exceptional with us! The report noted that North Carolina had several health pros including good flu vaccine coverage and a low prevalence of falls. This trail starts from Georgia and passes through North Carolina, making it all the way to Maine. Another pro of retiring in North Carolina is excellent health care. However, its important to remember that the cost of living varies from state to state. Even though this isnt true for the entire state, the most populous places do experience a fairly temperate climate. But before I get some sassy remark, allow me to explain. If you're considering retiring to North Carolina, it's important to research the health care options in the area you plan to live. 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. Where do most retirees live in North Carolina? The average cost of living was $38,295. Mild Weather Year-Round #3. You will need to invest in a car to get the most out of living in North Carolina. North Carolina offers many advantages for older adults. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. 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. Although North Carolina has several world-renowned hospitals, not all citizens have the same level of access to health care. This can be attributed to several factors, including a lower-than-average cost of housing. Cmon now, my grubby little hands will never squeal! New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. As in North Carolina, South Carolina does not tax Social Security benefits. While the cost of living in North Carolina is relatively low, the state does have higher taxes than some other US states. Thinking about living in North Carolina? . I lived in the Old North State for 12 years and have definitely learned a few things about daily life in North Carolina. Considering the average salary in the state clocks in at $54,250, the cost of living in North Carolina is deemed reasonable. You can thank me later. Plenty of Outdoor Activities 3. The sales tax rate in North Carolina is 4.75% across the state, although county and local taxes can add to it. In true form to its southern neighbors, North Carolinas public schools are nothing to write home about. North Carolinas crime rate almost matches the national average. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. The affordable housing prices couples with reasonable property taxes and youll understand why buying a home in North Carolina is a desirable endeavor. According to the Census Bureau, both states ranked in the top five for net migration of people aged 60 and older. Consider how much of your income is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs. Simmons, Christian. Low Employment Opportunities 3. 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. You never know when the threat will come to fruition so youll want to be prepared. 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. To retire comfortably in the state of North Carolina starting today, you will need to have saved at least $65,000. Theres two types of BBQ (Eastern style and Lexington style) and the topic of the best is hotly debated. There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. One of the largest is Brunswick Forest, which is located outside of Wilmington. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. The most frequent explanation for North Carolina's increased crime rate is the state's higher-than-average poverty levels. It has an old town feel and is very affordable, giving older adults the chance to retire in a charming town with great scenery. Pros of retiring in North Carolina All four seasons. 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. Now to answer the big question: Is North Carolina a good place to live? Charlotte, Raleigh, Durham, Morehead City, and Asheville had higher housing costs than New Bern, Fayetteville, Greensboro, and Jacksonville. RetireGuide.com, 20 Feb 2023, https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. One of the most significant drawbacks of retiring in North Carolina is the lack of a public transportation system. in advertising from the University of Illinois, Alissa has worked all over the world as a freelance communications strategist and writer. If youre moving to North Carolina with the hopes of escaping the grind and bustle of daily living, youll find reprieve. As for my favorite BBQ joint? 1.. Javascript must be enabled for the correct page display. Pinehurst. Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. 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. Pros and Cons of a Georgia Retirement. Just when you think summers in North Carolina cant get worse, youll experience the threat of a looming hurricane. As you think about it, the state does have a lot to love for retirement. "North Carolina Retirement." For the first time, most Medicare beneficiaries will opt for a private plan as early as this year. Average daily temperatures hover around 40F-50F with nights dipping below freezing 28F-35F. (30) Living in North Carolina (99) Living in Ohio (11) . Here, retirees can enjoy a more peaceful and relaxed pace of life. North Carolina is home to a thriving arts and culture scene. Moreover, there are also smaller university hospitals in the state that are nationally ranked. That rate continues to drop from what was 5.75% in tax years 2015-2016. Many of the mountainous small towns typically come with very low costs of living. Asheville is the #1 retirement town in the U.S. As a result the entire region has experienced rapid growth as tens of thousands of retirees have migrated to these mountains in western North Carolina. The Appalachian Mountains form most of North Carolinas territory, providing the state with. Youre probably not surprised to learn that affordable housing plays the largest role in the low cost of living in North Carolina. "North Carolina Retirement." The company also offers access to third-party pre . The sales tax is around 6.98%, with municipalities having special leverage. 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. Thats our promise. South Carolina's tax code is great for retirees as there are also some substantial deductions for other kinds of retirement income. Overall Score. 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. However, although higher than the national average, the murder rate in North Carolina is much lower than in South Carolina.if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[250,250],'retirefearless_com-leader-3','ezslot_12',146,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-leader-3-0'); The fact is that not everything is rainbows and butterflies in the Old North State. 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. 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. Summers on the beaches, winters in the mountains, breathtaking views in the fall, and beautiful blooms in the spring North Carolina has it all. The lack of proper public buses, trains, and other modes of transportation make it challenging to travel and explore different parts of the state. Retiring in South Carolina Pros and Cons South Carolina has no shortage of things to do to stay outdoors and active. Besides the beautiful scenery, North Carolina offers a mild climate and plenty of amenities that make it attractive to retirees. As with other retirement communities, it also offers a variety of differently styled homes and ways to live in retirement. While the state has always had plenty to offer, one of its biggest advantages for retirees is that it can essentially serve as a middle ground between more extreme retirement destinations. 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). Social Security Income is exempt. Enter North Carolina, sweet North Carolina. (2021). 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.