Cost of Living Comparison
The major difference between these two states is their population. North Carolina has a population of just double roughly of South Carolina’s around 5 million people. The overall cost of living in South Carolina is 88.5% whereas it is 90.6% in North Carolina.
North Carolina’s cost of living index is 92.7, South Carolina’s is 95.2. North Carolina is about 3% cheaper than South Carolina. The median home price in North Carolina is $220,000, while in South Carolina it is $235,000. North Carolina is slightly more expensive than South Carolina when it comes to taxes.
Furthermore, people living in NC pay below average housing, groceries, utilities, and transportation costs of the country.
South Carolina is ranked #4 best state to retire to. According to their data, the overall cost of living is lower than the national average, including expenses like groceries, transportation, and housing. The costs slightly above the national average are health care and utilities in South Carolina.
Taxation and Real Estate
Here in this state, the taxes on real estate vary according to the size of residence, type of property, and place of property. In North Carolina, the taxes are charged according to the ad volerem basis, and the tax rates vary from county to county.
South Carolina has an advantage concerning property taxes for its residents; people here pay 0.56% of their home’s market value, and those above 65 years of age get a deduction of about $50K.
Climate and Lifestyle
Both North and South Carolina have mild climates, making them comfortable places to live. Since South Carolina is closer to the equator, it has a bit warmer temperatures than North Carolina and is likely more ideal for going to the beach year-round.
Of the two states, NC is actually bigger than SC, but SC with its warmer weather, has a better year-round beach scene.
Deciding Where to Retire
If you compare North Carolina and South Carolina living, then both the Carolina states offer a great quality of life. Whereas the best South Carolina beaches for families are people’s favorite to live and settle down.
Retiring in North Carolina brings tax benefits, which means that the state is considered pro-business, with a great outlook on jobs for seniors looking to start their own business or begin a second career.
A survey by Retirement Living has ranked South Carolina as the #4 best state to retire to, offering a lower cost of living and beautiful beaches.
Conclusion
All in all, South Carolina wins in terms of affordability. Weather wise, North Carolina may get slightly cooler temperatures, especially in the mountainous regions. When it comes down to it, choosing between North Carolina and South Carolina depends on individual preferences for lifestyle. Both states offer a unique experience that will leave any visitor satisfied.