The Complete Guide To Moving To North Carolina

Choosing the perfect location for your family to call home is no small feat. One of the most desirable places in 2024 is North Carolina. And with its low cost of living and access to the outdoors, it’s no surprise more and more people are moving here.

Are you considering a move to the Tar Heel state? Keep reading to learn more about whether North Carolina is a good place to live, what the housing market is like, the best cities to call home and more.

Is North Carolina A Good Place To Live?

North Carolina has major benefits that can help you achieve an excellent quality of life there. However, like all places, it has a few downsides to consider.

Affordable Cost Of Living

One key benefit of moving to North Carolina is its cost of living. The state has a cost of living that’s lower than the national average, especially when it comes to housing.

The state’s overall cost of living is 97.4% of the national average, according to the Missouri Economic Research and Information Center. In addition to housing, it also ranks a little below the national average in food, utilities and transportation, but slightly higher than the national average in health care costs.

Job Opportunities

Job opportunities in North Carolina vary widely depending on the area of the state. The state’s urban areas enjoy a robust job market, while the same can’t be said about all the state’s rural areas. The state’s unemployment rate in July 2024 was 4.2%, matching the national rate for the same period.

The state’s top industries include:

• Aerospace and defense
• Automotive, truck and heavy machinery
• Biotechnology and pharmaceuticals
• Business and financial services
• Corporate headquarters
• Energy
• Food processing and manufacturing
• Furniture
• Information technology
• Plastics and chemicals
• Textiles
• Tourism

Educational Opportunities

North Carolina ranks 21st in the country for education overall and 26th for pre-K and K-12 education. It has 115 public school systems, the largest of which is the Wake County Public School System.

North Carolina ranks 14th in higher education and is home to several top universities, including Duke University, the University of North Carolina at Chapel Hill, Wake Forest University and North Carolina State University.

Keep in mind that educational opportunities vary across the state. The good news is if you’re thinking of your own educational future or that of your children, there are excellent school districts and universities to be found.

Dining In North Carolina

If you’re looking to settle down somewhere you can be surrounded by excellent food, you can find that in North Carolina. The state has a reputation for its delectable southern food, including its barbecue. It’s most well-known for its pork barbecue, with different regional favorite sauces to be found across the state.

North Carolina also has a booming craft brewery and distillery scene. In fact, according to the Brewers Association, the state ranks ninth in the country for its number of craft breweries.

Finally, if you’re a donut aficionado, you’ll be pleased to learn that Krispy Kreme, the world-famous donut icon, was started in North Carolina and still has its headquarters there.

Outdoor Activities And Scenery

North Carolina has no shortage of outdoor recreation. The state is home to several national parks, including:

• Great Smoky Mountains National Park: The single most popular national park, it sits on the border of North Carolina and Tennessee and is known for its beautiful mountains and its diversity of plant and animal life.
• Appalachian National Scenic Trail: If you enjoy hiking, you can walk a portion of this trail in North Carolina. Built in 1921, it extends from Maine to Georgia.
• Blue Ridge Parkway: Stretching through parts of North Carolina and Virginia, the parkway features 469 miles of beautiful mountain landscapes and beautiful vistas.
• The Outer Banks: This string of barrier islands starts at the Virginia border and goes 120 miles south. It features state parks, seaside villages, and miles of open shoreline.

Crime Rate

Unfortunately, North Carolina’s reported crime rate is higher than the national average. As of 2022, the state’s crime rate was 6% higher than the United States overall, according to data from the FBI Uniform Reporting Program. With a violent crime rate of 405 incidents per 100,000, the state’s violent crime rate is 15% higher than 10 years earlier.

If you're concerned about finding the safest place for your family to settle down, know that like in any state, the crime rate varies considerably by city and county.

Counties with incidences of violent crime include Mecklenburg County, Wake County and Guilford County. Meanwhile, some of the safest places to call home include Pinehurst, Whispering Pines, Davidson, Waxhaw and Elon. If you’re specifically looking for urban centers, Cary is the largest city with the lowest crime rate.

Public Transportation

Compared with some other states along the east coast, few areas in North Carolina have public transportation.

That being said, individual cities within the state, including Charlotte, Raleigh and Greensboro, have their own public transportation systems. Charlotte has bus and rail transportation, while both Raleigh and Greensboro have local bus systems.

As far as transportation costs, North Carolina’s are slightly lower than most of the country. Average transportation costs in North Carolina are just 96.2% of the national average.

What To Know About North Carolina’s Housing Market

Housing is the biggest line item in most people’s budgets, so it should be one of the biggest considerations when planning a move.

North Carolina's housing market favors sellers right now. Though there are North Carolina homes for sale, the inventory is still lower than the demand. Additionally, North Carolina is among the top five states where home buyers are moving, making the market even more competitive. But it’s not all bad news, as you’ll read in the next few sections.

Utility Costs

For utility costs once you purchase a home, North Carolina’s are slightly lower than the national average. North Carolinian homeowners pay an average of $302.30 per month for basic utility costs.

Financing Programs For Home Buyers

If you’re a first-time home buyer in North Carolina, there may be programs that can help make your purchase more affordable and accessible.

First, the North Carolina Housing Finance Agency offers several programs for home buyers. Its NC Home Advantage Mortgage offers down payment assistance of up to 3% of the loan amount, while its NC 1st Home Advantage Down Payment offers up to $15,000. Additionally, the NC Home Advantage Tax Credit can save buyers up to $2,000 on their taxes if they qualify for a mortgage credit certificate.

Additionally, there are local nonprofit organizations and government agencies that offer down payment assistance and other help for home buyers.

Finally, there are plenty of mortgage loans that aren’t specific to first-time buyers or North Carolina residents. Conventional loans are the most popular option and offer down payments as low as 3%, while government-backed loans like FHA loans, VA loans and USDA loans offer other unique benefits.

Closing Costs

Closing costs generally fall between 3% and 6% of a home’s purchase price. Luckily for North Carolina home buyers, the rate is even lower in the Tar Heel state. The average closing costs in North Carolina were recently as low as 1.1% of the sale price. So, for the state’s median home price of $320,067.50, closing costs would likely be around $3,521.

Property Taxes

Property taxes can increase the cost of homeownership considerably. North Carolina is ranked 20th in the country for the lowest property taxes, meaning you’ll pay a bit less than you would in most other states. According to our data, the average property tax rate in North Carolina is 0.82%. If you buy a home for the median price of $320,067.50, you can expect a property tax bill of about $2,624.55.

Keep in mind that property taxes are a local tax. The amount you’ll pay depends on where in the state you live.

Is North Carolina Good For Retirees?

If you’re looking for somewhere to spend your golden years, North Carolina might be just the place you’re looking for. It has attractive amenities like great food, year-round outdoor activities, moderate temperatures and more – not to mention the below-average cost of living.

One key downside to consider before retirement in North Carolina is the above-average health care costs. Considering most people’s health care needs increase after retirement, the state’s expensive health care could create more of a burden.

The 4 Best Cities To Move To In North Carolina

North Carolina offers a diverse landscape, both visually and culturally. As a result, there are many places you might decide to call home. Some of the best places to live in North Carolina include its large cities, including Charlotte, Raleigh and Greensboro.

Though these three large cities are the urban centers of North Carolina, they’re all located inland. If you’d prefer a coastal vibe, consider the state’s largest coastal city, Wilmington.

No matter where you decide to settle down, make sure to thoroughly research each neighborhood ahead of time to make sure you find the perfect place to call home.

What To Know About North Carolina’s Climate

Many people love North Carolina for its tempered climate. It has a temperate climate – average temperatures are often in the 50s in the winter and 80s in the summer. The state tends to get about 47 inches of rain and 5 inches of snow per year, but the snow doesn’t stick around in all areas due to the winter temperatures.

One thing to consider is that North Carolina can experience hurricanes. This puts you at risk of having to evacuate or even lose your home. It’s important to make sure you have the proper hazard insurance in place.

Pros And Cons Of Living In North Carolina

FAQs: Moving To North Carolina

If you’re considering a move to North Carolina, make sure to read these frequently asked questions.

Why are so many people moving to North Carolina?

North Carolina is one of the most popular states for people to relocate to right now. It’s become popular due to its low cost of living, beautiful scenery, robust amenities and generally low tax burden.

What should I know about moving to North Carolina?

Before moving to North Carolina, it’s important to consider anything that could impact your life there. Make sure to consider the overall cost of living and average wage, as well as housing costs, health care costs and more. It’s also important to research the different neighborhoods available, as well as their amenities, crime rates and other factors.

How much does it cost to move to North Carolina?

According to Moving.com, the average cost of a local move is $1,250, while the average cost of a long-distance move is $4,890. Your overall costs will depend on how far you’re moving, the amount of belongings you’re moving, whether you hire movers or DIY and more.

The Bottom Line: Moving To N.C. Can Be A Good Choice

North Carolina is a very desirable place to move right now, thanks to its low cost of living, affordable housing, booming economy and beautiful outdoors, just to name a few. If you’re considering a move to the Tar Heel state – or even if you’ve already moved — now is the time to start the home buying process. Start an application with Rocket Mortgage^® to search for your dream home today.