Is North Carolina a Good State to Retire In? Why Seniors Say Yes
If you're wondering, "Is North Carolina a good state to retire in?" the short answer is yes. From a low cost of living to access to quality healthcare, there are numerous benefits seniors can enjoy by retiring in NC.
According to the NC Office of State Budget and Management, approximately 17% of the state's population is comprised of residents over 65. That number is expected to double by 2040. There are many reasons why North Carolina is quickly becoming one of the best retirement destinations.
Choosing where to set down your roots during your Golden Years is a major decision. Let's explore some of the primary reasons seniors are flocking to cities like Fayetteville in North Carolina.
Affordable Cost of Living
One of the features that makes North Caroline one of the best retirement destinations is its low cost of living. According to U.S. News, North Carolina ranks as the 24th most affordable state. The overall low cost of living, especially when compared to other states, makes it an attractive choice for seniors.
Some of the factors that contribute to a low cost of living include:
- Lower prices for goods and services
- Strong economy due to access to major East Coast markets
- Low sales tax
- Affordable housing options
Access to High-Quality Healthcare Options
Being close to major medical centers is important at any age, but it becomes even more so the older we get. North Carolina is home to some of the best hospitals in the country, including:
- Duke University Hospital
- UNC Hospitals in Chapel Hill
- Cape Fear Valley Medical Center
- Rex Hospital
- Pardee UNC Health
There are also comprehensive care networks throughout the state that offer medical services that are especially designed for seniors. This includes:
- Cardiac services
- Geriatric care
- Rehab centers
- Cancer treatment
Seniors won't have to travel far to take advantage of the cutting-edge medical solutions the state has to offer.
Comfortable Climate and Weather
One of the things we love about North Carolina is that residents can enjoy all four seasons without having to deal with harsh extremes like in other areas of the country. Whether you're looking for a mountain retreat or a beachfront community, the options are endless.
North Carolina also boasts a humid subtropical climate. This means winters are mild, but the summers are warm. Many retirees from colder regions of the country move to North Carolina because of its moderate climate and warmer weather.
For example, the average daily temperature in winter in Fayetteville is around 61°. It doesn't frequently snow, but when it does, it rarely snows more than one inch.
Stunning Natural Beauty and Recreation
There's no better way to spend your retirement years than surrounded by natural beauty. There are three distinct regions that you can find in North Carolina:
- The Piedmont
- The coast
- The mountains
You can find pristine Atlantic beaches and high peaks close to the Mississippi River within the state. A few of the activities seniors can enjoy while living in North Carolina include:
- Hiking
- Fishing
- Camping
- Skiing
- Sunbathing
Frequently Asked Questions About Retiring in North Carolina
So, you're wondering, "Is North Carolina a good state to retire in?" Let's dive into some of the most commonly asked questions by seniors who are considering moving to the state.
What Part of North Carolina is Best to Retire In?
There are several areas throughout North Carolina that are ideal for retirement. Popular destinations include:
- Asheville
- Pinehurst
- Raleigh
- Durham
- Fayetteville
Whatever city you select depends on your personal and financial needs.
Is North Carolina a Tax-Friendly State for Retirees?
North Carolina is considered a moderately tax-friendly state for the retired community. The state doesn't charge taxes on the following types of income:
- Inheritance
- Estate
- Social Security benefits
Keep in mind that the state does charge state income tax. It also taxes several retirement sources, including:
- IRAs
- Pensions
- 401(k)s
That's why North Carolina is considered moderately tax-friendly. North Carolina also charges a flat 4.25% tax rate. It's expected to decrease to 3.99% by 2027. This tax rate is lower than other states.
What Benefits Do Seniors Get in North Carolina?
Seniors living in North Carolina have access to various benefits. This includes:
- Medigap, a Medicare supplement
- Senior Medicare Patrol (NCSMP)
- Homestead exemption for those over 65
These benefits allow seniors to have access to high-quality healthcare at a low cost.
Why Do People Move to Fayetteville, NC?
Fayetteville, NC, is a great place to move to, no matter what stage of your life you're in. It's a thriving community that's located in the Sandhills region in southeastern North Carolina. The history of the town can be traced to the late 1700s, and Fayetteville has continued to grow since.
How to Pick Where to Retire in the United States?
Your retirement years provide you with the chance to learn new hobbies, make new friends, and explore new areas. While this can be an invigorating time, choosing where to retire isn't a decision that should be taken lightly.
Some of the factors you should consider when picking where to retire include:
- Your personal preferences for climate and lifestyle
- Proximity to friends and family
- Community features, like walkability and safety
- Access to medical centers
It's important to determine how much money you'll have access to when you retire. Knowing your budget will help better inform your choices when choosing a retirement destination.
For example, if you decide you want to retire in North Carolina, you may want to check out cities that aren't considered major tourist destinations. These areas will still offer the same amenities, but they'll have a lower cost of living than big cities.
Is North Carolina a Good State to Retire In?
We hope we've answered the question of "Is North Carolina a good state to retire in?" If you enjoy tax benefits, access to quality healthcare, and living in natural beauty, you can't go wrong with North Carolina. Fayetteville, NC, is a leading choice for seniors due to its family-friendly environment and various cultural attractions.
If you're looking for affordable aging options that prioritize a Southern senior lifestyle, look no further than TerraBella Fayetteville. We offer exclusive retirement programs, such as chef-prepared homestyle dining, a comprehensive activities calendar, and access to community events. Contact our office to learn more about why you should choose our Fayetteville senior living community.