This North Carolina City Is Most Desirable But Not Most Affordable For Retirees
The saying ‘you can’t always get what you want’ is so true when it comes to picking a city for retirement. So, it seems just when you find a place with all the quality of life issues you want, you realize cost of living is through the roof. Well, nothing illustrates that point more plainly than a study conducted by Empower.com. And, this city in North Carolina ranks high among cities where retirees want to live. But, it’s not exactly affordable for everyone.
Obviously, cost of living scored highest in the empower.com study among retirees. The factor mattered to 46% of those asked about priorities when deciding where to live. But, other factors scored nearly as high including proximity to family, crime and weather. And, San Diego finished first with 19% in the poll. But, Charlotte tied for 2nd with Virginia Beach and Tampa at 12% when it comes to cities where retirees want to live. The most famous fictional retirees, The Golden Girls, chose Miami. But, it didn’t appear on the leaderboard in this study.
And, retirees wanting to live here is all great and wonderful except for the affordability issue. So, on the affordability scale, the Queen City fell to 76th. Hey, I don’t think it’s a secret that living in any big city these days comes with sky high prices. Many folks barely make enough to afford housing, with huge numbers of folks living paycheck to paycheck. And, a lot of us don’t even consider retirement because, at this point, it’s out of the question. But, I digress.
So, I certainly understand why Charlotte ranks as one of the cities where retirees want to live. There’s lots of entertainment and culture, museums, concert venues and restaurants. And, the weather is fairly mild most of the year. Plus, I love that we have beautiful seasons with pretty fall color. Also, day trips to the mountains for leaf peeping in the fall are super easy. And, the beaches are a short drive away.
Anyway, the study has plenty of helpful numbers to consider when planning your retirement if you want to see the full analysis. And, congratulations on your retirement!
These 6 Cities Are The Best Places To Retire In North Carolina
6. Greensboro, NC
Greensboro, North Carolina skyline from the west. (Photo: Raynor Garey/Getty Images)
Median monthly mortgage cost: $1,195
Median monthly rent: $846Greensboro is much more affordable than the other large metro areas of the state but it’s still a short drive from all those cities have to offer.
5. Charlotte
Median monthly mortgage cost: $1,419
Median monthly rent: $1,073The largest city in the state has a lot to offer retirees and many others. And while the cost of living is higher than other areas of the state it’s cheaper than many parts of the country.
4. Hickory
Median monthly mortgage cost: $1,048
Median monthly rent: $708Hickory keeps popping up on lists among the top cities in North Carolina, and in this case placing higher than Charlotte. It’s lower cost of living is a large factor in those rankings.
3. Winston-Salem
Median monthly mortgage cost: $1,178
Median monthly rent: $790A quieter city in the Triad and with easy access to the popular Yadkin Valley, Charlotte, lakes, and other resources makes Winston a fantastic place to retire.
2. Raleigh and Durham
Raleigh, North Carolina, USA downtown skyline.
Median monthly mortgage cost: $1,602
Median monthly rent: $1,162The triangle gives residents all the benefits of a large city and a metro of the state’s most prominent college towns.
1. Asheville
Asheville, North Carolina, USA at twilight.
Median monthly mortgage cost: $1,357
Median monthly rent: $953While it has a significant cost of living, if you can afford to retire in Asheville then its money well spent to spend your time in the beautiful mountains.
