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Facts About Retiring in North Carolina

By    |   Thursday, 11 Jun 2015 09:44 AM

North Carolina is often thought of as a cozy outpost of Southern charm, and so it is, but the state has many other attributes that have helped make it one of the primary destinations for retirement: good and varied weather, a strong sense of community, and reasonably low taxes, especially for older folks. In fact, as TopRetirements.com points out, North Carolina has recently surpassed Florida as a retirement state for Northeast sorts, and it has seen increasing numbers of people who had formerly retired to Florida becoming disillusioned and relocating to the Tar Heel State. Since this is in effect a move partway back to their urban Northeast origins, they often refer to themselves collectively as "half-backs."

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Here are a few of North Carolina's particular character traits that have been drawing retirees from all over the country to its cities, towns, and suburbs.
  • A Varied Climate - North Carolina offers a choice of landscapes and weathers, from mild coastal beaches to the full panoply of the four seasons in its western hills. However, none of the seasons are as extreme as in the busy Northeastern states.
  • Low Taxes - While Florida's taxes are somewhat more favorable, (there is no state income tax there) North Carolina recently revamped its tax code, introducing a flat-rate tax that takes a smaller bite out of most folks' income, and eliminating the estate tax altogether. Plus, Social Security income has never been taxed in the state.
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  • Low Housing Costs - House prices are lower in North Carolina than in most other states with good economies. The median cost of a home in the Tar Heel State was $146,700 in 2015, which might buy you a garage in LA, or a closet in Manhattan, and is lower than the same number in Florida ($169,700) or nationwide ($178,700). The equity from your working-world domicile goes farther in North Carolina.
  • Easy Travel - The state's compact cities and towns, extensive coastal ferry system, and extensive Amtrak service relieve elders of the burdens of driving everywhere, a distinction that Florida cannot match.
  • A Sense of Community - North Carolina offers a small-town feel even in its big cities. Retirees won't feel they are isolated in golden-years ghettos, and social involvement is known to improve health at any age, but especially in the elderly.
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North Carolina is often thought of as a cozy outpost of Southern charm, and so it is, but the state has many other attributes that have helped make it one of the primary destinations for retirement.
retirement, North Carolina, facts
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2015-44-11
Thursday, 11 Jun 2015 09:44 AM
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