In cities like Charlotte and Raleigh, the winter lows rarely dip under 35F. Charlotte. Even though this isnt true for the entire state, the most populous places do experience a fairly temperate climate. 21 Pros and Cons of Living in Charlotte, NC - Vittana.org Christian is a former winner of a Florida Society of News Editors journalism contest and has written professionally since 2016. RetireGuide doesnt believe in selling customer information. Although the cost of senior living may seem daunting at first, a second glance may reveal something different. Cmon now, my grubby little hands will never squeal! Read More. North Carolina compensates for its affordable cost of living by putting a significant tax burden on its citizens. Should You Retire in Georgia or Florida? Let's Compare! North Carolina is home to the Smoky Mountains and the Blue Ridge Mountains. Contents1 Which county in NC has the lowest property taxes?2 Do you have to pay property taxes after 65 in NC?3 [] The state also has major league lacrosse games and all of that is before getting into college sports where there is a fierce following for several college teams. Likewise, rain is not uncommon during the summer months. RetireGuide.com. The sales tax rate in North Carolina is 4.75% across the state, although county and local taxes can add to it. NC isnt the worst state for retirees when it comes to income taxes, but it isnt the best either. With its picturesque beauty, stunning coastline, and southern hospitality, it isnt hard to see why North Carolina draws people from all over the country. Marion. Now to answer the big question: Is North Carolina a good place to live? Posted by Preston Guyton on March 3, 2023 . Overall, North Carolinas health care is not bad by any means, but its also not close to the states in the top tier. Healthcare is a massive concern for those looking to move to another state, especially retirees. Its true, but this point warrants a deeper dive. Why do retirees move to North Carolina? - 2023 Better with age, exceptional with us! Overall, the cost of living in North Carolina comes in 5 points below the national average. Posted by Preston Guyton on Friday, September 30, 2022 at 10:07 AM By Preston Guyton / September 30, 2022 Comment When you think "retirement destination," North Carolina may not be top of mind. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. District of Columbia costs $2,324 to rent. One option that stands out is Hendersonville. Oops! Expenses like groceries, housing, and transportation were under national expenditures. 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. Truthfully speaking, the friendly community feel took some adjusting at first because Ive mostly lived in large cities where being greeted by name was deemed unusual. North Carolinas total state and average local sales tax rate is 6.98%. A cost of living index above 100 means North Carolina, North Carolina is more expensive. An amount below 100 means North Carolina is cheaper than the US average. 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. Aging in America Rankings. 10 Pros and Cons of Living in North Carolina Right Now 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. First off, accommodation is the biggest expense that any states residents have to incur. The average monthly rent for a 2-bedroom apartment in North Carolina is $825, which is much lower than in many other states. The job market in Raleigh is thriving right now. The mountainous regions in the state experience humid days in the summer and pretty cold temperatures in the winter. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. When you think "retirement destination," North Carolina may not be top of mind. Once you have a good understanding of how much it costs to live on your own, you will have a more comprehensive understanding of the cost of senior living. cost 9.8% of ones yearly income. After all, this state has a lot to offer. Simmons, Christian. The EBNC is The Eugenics Board of North Carolina. However, the sales tax differs from county to county. The Best Places to Retire in North Carolina. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. You never know when the threat will come to fruition so youll want to be prepared. The Outer Banks' positioning on the east coast makes them more susceptible to direct hits or brushes from tropical storms that ride up the East Coast. Average daily temperatures hover around 40F-50F with nights dipping below freezing 28F-35F. South Carolina Low Cost of Living. List of the Pros of Living in Charlotte, NC 1. 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. This is considered southern etiquette and folks are keen to teach their children manners. 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. 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 state has been hit by several major storms, including Hurricane Florence in 2018. Enter North Carolina, sweet North Carolina. There are plenty of opportunities for retirees to pursue academic study at the many universities located around the State. 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. She has written copy for both digital and print pieces ranging from blogs, radio scripts and search ads to billboards, brochures, mailers and more. Please wait a moment and try again. History buffs will be drawn to the states colonial heritage and its strong heritage that comes to life with interactive and time-honored memorials. 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. Thank you! Thinking about living in North Carolina? Healthcare is a massive concern for those looking to move to another state, especially retirees. The largest employers in the state are: Walmart, Duke University, Food Lion, Wells Fargo, Lowes and Bank of America. The answer really depends on what youre looking for in retirement since each state offers different benefits. Moreover, there are also smaller university hospitals in the state that are nationally ranked. With some of the countrys best university medical centers in the country, fortunately, North Carolina delivers well in this regard. RetireGuide.com. (30) Living in North Carolina (99) Living in Ohio (11) . Not to mention the plethora of problems that arise when humidity becomes a part of your daily life. Its a major area and feels like it as its the most populous city in the state. Many of our communities include a wide range of amenities including. It's somewhat of a hobby, and we want to share what we've learned with you. Its all about the meat in this method, and sauce would serve as a mere distraction although a small side of ketchup-based sauce is provided, for those so inclined. Chicago Low Employment Opportunities 3. North Carolinas total state and average local sales tax rate is 6.98%,placing it on the ranking of 26 in the nation. 4.3. Were you able to find the information you were looking for on RetireGuide.com? 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. Dine Well, Live Well at The Vero at Orange, One Month Rent-Free Incentive at Treeo Raleigh, Memory Care at MacKenzie Place Fort Collins, February Fitness Frenzy at Fairwinds Rio Rancho, True restaurant dining, with made to order meals, Gym memberships and fitness classes through PrimeFit, Assisted living and memory care services, if needed. Unlike most other states, North Carolina taxes groceries. The Pros and Cons of Retiring to Alabama Have you been thinking of retiring to Alabama? Retrieved March 4, 2023, from https://www.retireguide.com/retirement-life-leisure/best-and-worst-states-to-retire/north-carolina/. By 63, you no longer pay taxes. A coworker joked that North Carolinians are the best neighborhoods and acquaintances a person could have because respect is a second language. In true form to its southern neighbors, North Carolinas public schools are nothing to write home about. For anyone trying to find affordable senior housing in Indiana, there are some good options to choose from around the state. 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. It was also named the top hospital in the state by Business North Carolina in 2017, 2018, and 2019. Theyre non-negotiable in my book because they prevent things from molding overnight. It can be exciting to move somewhere new, start fresh, and . There aren't enough regular buses, trains, and other means of transportation to allow you to travel and explore different areas of the state. Especially if you are moving from up north, youll find that even the largest cities compare favorably to the cost of living that youre used to. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[336,280],'retirefearless_com-box-4','ezslot_5',111,'0','0'])};__ez_fad_position('div-gpt-ad-retirefearless_com-box-4-0'); When moving to a new state, especially with the purpose of living out your retirement years, there are more than a few things to consider. Unfortunately, North Carolina is located in an area susceptible to hurricanes. Besides housing, the state also offers comparatively cheaper food options than other states like New York State or Washington State. . According to the Census Bureau, both states ranked in the top five for net migration of people aged 60 and older. The average monthly rent for, a 2-bedroom apartment in North Carolina is $825, , which is much lower than in many other states. New Study Reveals Best Places to Retire in North Carolina Theyre All Small Towns. The state has coastlines, mountains, and distinct regions that offer a variety of activities for retirees. You can just as easily find a charming apartment in the city or a farmstead, if you so choose. (n.d.). Published in Forbes, Senior Finance Advisor, Alzheimers.net and on other leading senior care blogs, she leverages her working knowledge of the senior care industry with leading research and best practices to create engaging content benefitting seniors and their caregivers. Many retiree-friendly communities have been developed with top-notch health care facilities. In addition, Social Security income is not taxed, and income taxes have been lowered to a flat rate, to 4.9% in 2022. 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. North Carolina doesnt tax Social Security retirement benefits. 3. Get money-saving tips, hard-to-find info and tactics for a successful retirement in our. 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. Social Security is not taxed, but 401(k) and pension distributions are. 201-447-2212 171 E. Ridgewood Ave. Suite 205 Ridgewood, NJ 07450 Simmons, C. (2023, February 20). The state's picturesque landscape, with both its rugged inland mountains and windswept beaches, is sure to take your breath away. Is it better to retire in South Carolina or North Carolina? - 2023 What more could you want in a new community? While most of these are meant for hikers, there are options for mountain biking or horseback riding. 15 HONEST Pros & Cons of Living in Asheville, North Carolina Speaking from personal experience, one of the best things about living in North Carolina is actually being able to enjoy life without feeling the pinch of irrational rent prices and overall high cost of living. 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. Find a job before moving to North Carolina is vital (especially if you plan to live in the rural parts of the state). With its rugged inland mountains and wind-swept beaches, the state offers some grossly ravishing scenery that will take your breath away. North Carolina may traditionally be thought of by some as a rugged state filled with mountainous communities. The truth is that North Carolina is one of the most beautiful and fairly reasonable states in the United States. Both of those are key areas for seniors and certainly good news. Speaking of, heres a locals tip: Purchase these bad boys before moving to North Carolina. Locals Tip: Something that caught me off guard after moving to North Carolina was hearing kids use yes maam and no sir in practically every interaction. In some places, such as Durham County, you may even have to pay sales tax at the rate of 7.50%. The summers are good for the beach, while winters are good for skiing in the mountains. Our communities are located across the United States and offer a range of senior living services including independent living, assisted living, and memory care. As in North Carolina, South Carolina does not tax Social Security benefits. APA The most frequent explanation for North Carolina's increased crime rate is the state's higher-than-average poverty levels. This can take out a big chunk of your retirement savings. Hickory. You can thank me later. Resorts are spread throughout the mountains and many are open for skiing in the winter and hiking in the summer. The cost of living index for Myrtle Beach is 93, which means that it's 7 percent cheaper than the national average. Even a carefully planned retirement lifestyle may come with unintended consequences. Lamia Chowdhury is a financial content editor for RetireGuide and has over three years of marketing experience in the finance industry. Our calculator will help you determine the life insurance policy size that best fits your circumstance. 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. Moreover, there are also smaller university hospitals in the state that are nationally ranked. North Carolina may not be a state traditionally thought of when it comes to retirement, but its popularity is on the rise. This can be attributed to a number of factors, including a lack of providers, transportation issues, and a lack of insurance. 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. If youre a history enthusiast, you can explore the many museums at Beaufort or Cape Fear and get lost in the centuries of history. North Carolina does have a low corporate tax rate, making it more business-friendly. The answer is yes, between the affordable housing market, low cost of living and unmistakable southern hospitality, living in North Carolina is living life on easy mode. Want to Retire in North Carolina? 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. We'd love to hear your thoughts. Retire in Asheville - Asheville North Carolina retirement 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. Weigh the pros and cons to see if retiring in North Carolina is right for you. High Crime Rate 2. Simmons, Christian. 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. Property tax rates are moderately high in North Carolina, but there is a senior discount that is quite significant. Even popular tourist spots like Myrtle Beach can offer affordable living. Javascript must be enabled for the correct page display. Insurance is often more expensive in rural areas, and there are fewer providers to choose from. If you havent yet, you must ask yourself if retiring in North Carolina is a good option for you. Dont hesitate to reach out with questions, Im here to help! North Carolina is a generally affordable state where your money will go far, especially if you are used to a Northeast standard of living. Raleigh, the state capital, could also be a suitable retirement destination that includes many big city offerings without quite as much activity as Charlotte. Williamston. However, its important to remember that the cost of living varies from state to state. Summers in North Carolina are the worst. 4 Full Seasons Cons of Retiring in West Virginia 1. A few of the most popular include the Riverfest Music Festival, the NC State Fair, and the Charlotte Folk Festival. Poverty is seen as a significant contributor to the relatively higher crime rate in the state. The Good Life - Pros and Cons of Retiring in South Carolina 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. North Carolina has a growing variety of retirement communities, with some as small as a couple hundred homes grouped together and others large enough to qualify as sprawling self-sufficient towns. Its your time to build your future. Is it cheaper to live in North Carolina? - 2023 If it sounds appealing, start looking at these 16 top cities in NC. Recall how I mentioned southern hospitality as one of the best things about living in North Carolina? JG Wentworth is well known across the country for its structured settlements, and was first founded in 1991. Local venues often have bluegrass and country music bands creating a folk atmosphere. What this means for you: Anytime you hear mention of a possible hurricane, make a beeline for the grocery store and stock up on essentials.