Retiring in NC 

Do you want to retire in North Carolina? Here is what you need to know about retiring in NC, with pros and cons. 

The full retirement age is 66, but you can start receiving your Social Security retirement benefits at 62. If you are about to retire or are already enjoying your retirement years, you might be considering where and how to spend it. From lively cities to peaceful suburbs, there are more than enough options when searching for a retirement community or relaxing neighborhood to call home. 

North Carolina is one of the top states people are moving to for retirement, and it is no surprise why since it offers many benefits that retirees can take advantage of. 

If you are considering retiring in North Carolina, there are many things to think about, from the cost of living to healthcare. North Carolina is a great financial choice for retirement and provides convenience, safety, and an ideal climate that most retirees seek. 

This is what you need to know about retiring in NC 

1. Affordable Cost of Living

Ranking number 23 on a list of the most affordable states in the country, North Carolina is a relatively affordable place to live and ultimately retire. With a cost of living of 4% lower than the national average, it is no wonder that so many young families and retirees are moving here. 

The cost of living in North Carolina is not as expensive as other areas and is not the least expensive option. Still, its housing costs are 2% lower than the national average, making it a top choice for homebuyers. 

Considered a great state for retirees, many individuals and couples of retirement age choose to call North Carolina home for its affordability alone. Though housing costs vary widely in the state, there are certainly more affordable cities to live in over others, depending on what you are looking for in retirement. 

The capital city of Raleigh is a growing area that offers many affordable neighborhoods and numerous up-and-coming neighborhoods to fit many different lifestyles. 

2. Moderately Tax-Friendly State 

Taxes are a big thing to consider when retiring, and North Carolina offers certain tax benefits that may be appealing. Considered a moderately tax-friendly state, North Carolina does not tax Social Security retirement benefits from income taxes. 

On the other hand, withdrawals from retirement accounts and private and pension income are fully taxed. All wages and other forms of retirement income are taxed at the normal state income tax rate of 4.75%. 

3. Excellent Healthcare 

If you are considering living in North Carolina and weighing the pros and cons, its excellent healthcare is a pro. Home to some of the best hospitals and doctors in the country, patients will always be in good hands. 

Duke University Hospital, located in Durham, which is part of the Research Triangle, is the number one best hospital in North Carolina since it is nationally ranked in ten specialties and ten children's specialties. UNC Hospitals in Chapel Hill is ranked at number two for its national rankings in three specialties and nine children's specialties. 

While the options for healthcare are top-rated, North Carolina is unfortunately ranked as one of the worst states for healthcare costs. Since the state has large regions that only offer a few major healthcare providers, the lack of competition and increased demand drives up the cost of care. 

4. Ideal Climate 

North Carolina has a humid subtropical climate, meaning the summers are warm and the winters are mild. Many retirees from New York, Pennsylvania, and other parts of the Northeast are moving to North Carolina for its warmer weather and moderate climate. 

With the Appalachian Mountains to the West, the Piedmont Plateau in the central region, and the Coastal Plain to the East, the weather will vary depending on where you decide to retire in the state, but not by much. 

Though the mountains of North Carolina tend to get colder during the winter and receive larger amounts of snow than the rest of the state, several cities, including Raleigh, Wilmington, Lumberton, and Hatteras, tend to have warmer years. 

Average annual temperatures tend to range from 66 degrees Fahrenheit near the coast to 60 degrees Fahrenheit in the central region and 55 degrees Fahrenheit in the mountains. If you decide to spend your retirement living in Raleigh, expect to enjoy all four distinct seasons throughout the year. 

5. Natural Beauty 

Why not spend your retirement surrounded by stunning natural beauty? North Carolina is a special state since it offers three distinct regions: the Piedmont, the coast, and the mountains. 

Raleigh is centrally located and is a popular destination as the home of Research Triangle Park. It is also within a two-hour drive to the nearest beach and within a four-hour drive to Asheville and the mountains. 

The Piedmont is home to many welcoming and relaxing lake communities where retirees can go fishing, boating, or just simply experience luxury lakefront living. 

Home to some of the best beaches, retirees love to spend their time relaxing on the coast. Wrightsville Beach is the closest beach to Raleigh, but the Outer Banks are only three hours away and are a sought-after location for its quiet beaches, spectacular sunsets, and friendly residents. 

On the other end of the state lies the mountains, which offer retirees the chance to explore and spend time in nature. Home to some of the best ski resorts on the East Coast and breathtaking views, it is no wonder many residents stay here for retirement. 

6. Safe Neighborhoods 

Safety is a top consideration for people to consider when moving, especially for retirees. Much like you want to consider climate, it is important to research the crime rate and other related statistics about an area before deciding on a place to live. 

The most common crimes committed against the elderly are burglary, robbery, and fraud. Luckily, North Carolina has many safe places to live that retirees would feel comfortable calling home. 

Ranking number 15 for personal and residential safety, North Carolina is one of the safest states in the country. Raleigh is a safe place to live in particular, along with its surrounding towns, including Holly Springs, Cary, and Apex. 

Here are the property crime rates vs. violent crime rates in North Carolina: 

Your Chance of Becoming a Victim of Property Crime	Your Chance of Becoming a Victim of Violent Crime
One in 48	One in 247

*Data Sourced From Neighborhoodscout. 

7. Well-Maintained Highway Systems 

North Carolina has one of the largest state-maintained highway systems in the country and is easy to get around. Consisting of a vast network of interstates, there are a total of 36 US highways that exist entirely or partially in the state. 

The North Carolina Division of Highways maintains more than 80,000 miles of roadway in the state, and its job is to build new roads and relay travel information and commute times. The longest highway in North Carolina is U.S. Route 64, which will take drivers from the Tennessee border to the Outer Banks. 

There are also four international airports in the state for retirees who want to travel and see the world. These airports are the Raleigh-Durham International Airport, Charlotte-Douglas International Airport, Piedmont Triad International Airport, and Wilmington International Airport. 

Even though Raleigh does not offer many options for public transportation, there are public bus routes, an Amtrack passenger service, and coastal ferries that residents can take advantage of. 

8. Golf 

Golf is the perfect sport for retirement since it is low-impact and provides an enjoyable activity for all ages that provides social, physical, and mental benefits. While choosing to retire does not mean that you have to immediately buy a pair of golf clubs, North Carolina is home to some of the best golf courses in the country that welcome thousands of visitors and players each year. 

Some of the best neighborhoods in Raleigh and the state are golf communities that offer affordable tee times. Whether you are an experienced golfer or just learning to play, most courses offer challenging and fun play for all levels. 

Pinehurst Resort is located in North Carolina and is almost an hour and a half drive southwest of Raleigh. Pinehurst is notorious for its golf and is home to the famous course Pinehurst No. 2, which Donald Ross designed and is where the U.S. Open Championship will occur in June 2024.  

9. Vibrant Arts and Culture 

North Carolina offers a vibrant arts and cultural scene, as seen through its many museums and art galleries scattered around the state. If you are going to retire, then you need to make sure that you will have things to do and will find ways to enjoy it. 

No matter what city in the state you decide to call home, retirees can enjoy film festivals, live music, theater productions, dance performances, and orchestra productions. There are also many volunteering opportunities available to get involved in the community. 

10. Access to Education 

Just because you are retired does not mean that you should stop learning new things. Many of the top-rated colleges and universities in North Carolina offer senior citizens over 65 the ability to audit courses for free. 

If space is available for the course, participants can audit a total of six credit hours of undergraduate courses per semester without payment. Some of the higher-education institutions that offer this program include North Carolina State University, East Carolina University, Appalachian State University, The University of North Carolina Charlotte, and The University of North Carolina Wilmington. 

Pros and Cons: 

Pros: 

• Affordable cost of living 
• Moderately tax-friendly 
• Excellent healthcare 
• Ideal climate 
• Natural beauty 
• Safe neighborhoods 
• Well-maintained highway systems 
• Golf courses 
• Vibrant Arts and Culture 
• Access to education 

Cons: 

• Higher healthcare costs 
• Not many public transportation options 
• Increased risk of hurricanes and natural disasters 
• Withdrawals from retirement accounts are fully taxed 

Methodology 

We used information and data to determine the top things to know about retiring in North Carolina from the following sources: 

• U.S. News and World Report
• Raleigh News and Observer  
• Britannica 
• The Office of Justice Programs 
• The North Carolina Department of Transportation 

FAQs 

Is North Carolina a good state for retirement? 

North Carolina is not only one of the best places to live in the country but it is considered a great state to retire, offering a lower cost of living, lower tax rates, beautiful weather, and a high quality of life. 

Is North Carolina tax-friendly to retirees? 

North Carolina is known to be moderately tax-friendly for retirees since social security income is not taxed, but withdrawals from retirement accounts are fully taxed. 

Is it cheaper to retire in NC or SC? 

Even though North Carolina and South Carolina offer some of the same amenities and perks, it is slightly cheaper to retire in South Carolina since it has a lower cost of living. 

How much money do you need to retire comfortably in North Carolina? 

While some states are either cheaper or more expensive to retire in, to retire comfortably in North Carolina, it is recommended that an individual have at least $69,237 annually. 

Retiring in North Carolina - Final Thoughts 

A popular destination for retirement, North Carolina offers plenty of great things to look forward to after years of hard work. Whether you want to live in a big city or a small town, North Carolina has it all. 

Spending these best years of life should be somewhere nice and relaxing and this Southeastern state offers just that and more. If you are ready to call beautiful North Carolina home, contact the experts at Raleigh Realty. We are here to help and answer any questions.