Inviting Chapel Hill, North Carolina Has a Funky, Academic Vibe, Leafy Neighborhoods, Good Medical Facilities and a Robust Foodie Culture
Cost of Living: Above the National Average
Leafy and academic, Chapel Hill (population 65,000) is in north central North Carolina and is a slightly rural college town that grew up around the University of North Carolina (26,000 students), the oldest state-supported university in the United States. It is part of the Raleigh/Durham/Chapel Hill "Triangle," with North Carolina State University, Duke University and one of the largest and most reputable high-tech research parks in the nation, the Research Triangle Park, just down the road. Professors, university staff and RTP employees live in Chapel Hill, and as a result, its residents are generally affluent and well-educated.
In fact, 73% of locals hold at least a four year college degree. Residents overwhelmingly lean to the left politically, and 23% of them are age 45 or better. The crime rate is below the national average. Chapel Hill has grown by 7% within the last decade and is racially diverse.
The cost of living is 25% above the national average, and the median home price is $485,000. The city dates from 1752, and its long history is reflected in much of its architecture. The University definitely gives parts of Chapel Hill a very youthful atmosphere, but many sections of the city have a very settled, suburban feeling and beautiful, older residences with plenty of Southern character give lush, tree-canopied neighborhoods a regal atmosphere. Some of the more affordable areas include Briar Chapel-Newland and Rosewalk at University Lake.
North Carolina is somewhat friendly when it comes to taxes and retirement. The state does not tax Social Security retirement benefits and most other forms of retirement income, including IRAs, 401k(s) and pensions, are taxed at 5.25%. The state standard deduction is generous, at $10,750 for single filers and $21,500 for married filers.
The average effective property tax rate (the annual tax payment as a percentage of median home value) in Chapel Hill is 1.19%. Homeowners who are 65 or better with an annual household income of $31,500 or less may claim a $25,000 or 50% of a home's taxable value homestead exemption. Homeowners age 65+ with annual income $47,250 or less may also qualify for the Circuit Breaker Tax Deferment Program. This does not reduce property taxes but defers them until the home is sold. The annual taxes on a $485,000 home are approximately $5,772 with out any exemptions.
Chapel Hill, North Carolina
Sophisticated but with a small town warmth, Chapel Hill is known for its engaging music scene, stimulating foodie culture and funky hospitality. A healthy downtown, agreeable weather and good medical facilities are a few reasons why retirees come here. It is a very livable place and exudes the easygoing confidence of a generally prosperous city.
Chapel Hill has plenty of activities to keep any retiree happy and involved. For people who appreciate a college atmosphere and all that goes with it, downtown is the place to be. More than 300 shops, music venues, pubs, bookstores (The Bookshop has one of the largest collections of used and collectable books in the South), cafes, coffee shops, boutiques and other various specialty stores attract tourists and locals alike.
Musical acts as diverse as James Taylor and the Squirrel Nut Zippers have gotten their start in Chapel Hill, and today new acts continue to hone their skills in dozens of clubs and pubs. Jazz and bluegrass festivals, concerts and fairs bring neighbors of all ages together for good food, great music and in the process bolster a strong community fabric.
Several of the city's markets and restaurants, in particular Foster's Market and Caffe Driade, have achieved a certain level of fame after being touted by Martha Stewart and Rachael Ray. There are outdoor markets, gourmet markets and specialty markets, including Fresh Market and Weaver Street Market, one of the largest organic markets in the U.S.
Eateries range from posh, white table cloth establishments to more down home spots such as Breadman's, the original 24-hour restaurant. In fact, Chapel Hill has such a robust foodie culture that Bon Appetit magazine has called it "America's foodiest small town."
Museums, historic plantation homes, the Coker Arboretum, the Forest Theatre, the Morehead Planetarium, Montrose Gardens and more contribute to Chapel Hill's cultural menu. Parks, wooded areas and even the beautiful UNC campus give residents ample green spaces for walking, bicycling or rollerblading.
And, of course, the UNC Tar Heels give residents plenty of exciting sporting events to attend all year long. For people who would rather participate in games than watch them, golf courses are plentiful throughout the city, and the city's parks and recreation department has programs and events for people age 55 or better. The surrounding region abounds with lakes for boating, swimming and fishing, and 200 hiking and bicycling trails are within a 60 miles radius.
Award-winning North Carolina Memorial Hospital (NCMH) is owned by the state of North Carolina and is part of a non-profit integrated health care system that stretches throughout seven North Carolina counties. NCMH, accredited by the Joint Commission, is a Level I Trauma Center and a teaching hospital. It accepts Medicare patients. The UNC School of Medicine is a top research and training facility, and 11 miles down the road in Durham, Duke University Hospital is another nationally-ranked medical center. Durham also has a VA outpatient clinic and a VA hospital.
Chapel Hill Transit, the local bus system, is completely free and is thorough enough that a car is almost unnecessary. The Raleigh-Durham International Airport is just 18 miles away.
The Seymore Senior Center is managed by the county and is in a modern building. It has a hot lunch program, wellness classes, computer classes, trips abroad and more.
The climate is moderate, with mild winters (temperatures in the 30s and 40s) and warm, sometimes hot, summers (temperatures in the 80s and 90s). On average, the city receives 45 inches of rain and 5 inches of snow per year. On the comfort index, a combination of humidity and temperature, Chapel Hill comes in below the national average. The sun shines 215 days of the year.
A Chapel Hill retirement does have some potential drawbacks. Locals complain about increasing traffic and housing sprawl. The poverty rate is above the national average (but much of this is attributed to the large student population). UNC has a lively party scene but it is mostly confined to neighborhoods around campus.
Despite these possible downsides, Chapel Hill remains a very appealing place. Anyone looking for a progressive Southern city with a rich quality of life will want to add Chapel Hill to their list of great places to retire.
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