Retire in Asheville

Affordability

Find out how much it costs to live in Asheville.

Cost of Living

Kiplinger Rating:

Mixed

State Income Tax:

5.75%

Social Security Tax?

None

County + State Sales Tax

7%

Property Tax Rate *

0.7%

Property Tax Ranking (County Property Tax rank out of 2,773, higher rank=lower rate) *

1879

* 2008-2010

Cost of Living Index (100=average):

99.8

Housing + transportation costs as % of income:

55%

Tax Details

State Sales Tax Breaks for Seniors:

None

Pensions Taxed?

Yes

Tax burden: % income going to state and local taxes:

9.8%

Inheritance and estate taxes (per Kiplinger):

None

Taxing of other retirement income (per Kiplinger):

Yes

Property Tax Break for Seniors (per Kiplinger):

To qualify for the Elderly or Disabled Exclusion, a homeowner must be at least 65 years old or totally and permanently disabled, with income of no more than $28,600 for 2014. The program excludes the first $25,000 or 50% of the home’s appraised value plus the value of up to 1.0 acre of land, whichever is greater, from taxation. The state’s Circuit Breaker Tax Deferment Program limits property taxes to 4% of an owner’s income for those 65 years and older who make less than $28,600 a year for 2014. For those making between $28,600 and $42,900 for 2014, property taxes are limited to 5% of their income.

 

For more detailed tax information from Kiplinger, visit www.kiplinger.com/tool/retirement/T055-S001-state-by-state-guide-to-taxes-on-retirees/

Real Estate

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Work Potential

  • Area
  • National Average

5 Largest Companies

  • Buncombe County Public Schools
  • Ingles Markets, Inc
  • Mission Health System and Hospital
  • City of Asheville
  • The Biltmore Company Museums

GDP Growth Last 3 Years

13.1%

Income Growth Last 3 Years

10.7%

Employment Growth Last 3 Years

6.5%

Top Industries Hiring

  • Accommodation and food services
  • Other services (except public administration)
  • Health care and social assistance
  • Manufacturing
  • Construction

Breakdown Fulltime vs Part Time over 65 (%)

  • Part Time over 65
  • Full Time Over 65

Occupation Breakdown (%)

  • Management, Business, Science & Arts (MBSA)
  • Natural Resources, Contruction & Maintenance (NRCM)
  • Production, Transportation, Materials & Moving (PTMM)
  • Sales & Office (S&O)
  • Service

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