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Retirement Planning in McDowell County, NC

What does it take to retire comfortably in McDowell County? Here are the numbers.

Median Income

$53,532

Retirement Income (80%)

$42,826

Est. Nest Egg Needed

$602,250

Cost of Living Index

82

Retirement Income Analysis

Income Needs (Annual)

Target Income (80% rule)$42,826
Est. Social Security$18,736
Annual Income Gap$24,090

Housing Costs

Median Rent$725/mo
Annual Housing$8,700
Property Tax Rate0.5%
Median Home Value$153,300

About McDowell County, North Carolina

McDowell County in North Carolina has a median household income of $53,532 and a homeownership rate of 73.4%. Using the 4% rule, retirees in this county would need approximately $602,250 in savings to cover the gap between Social Security and their target retirement income.

These are estimates based on county-level medians. Your actual retirement needs depend on your specific income, expenses, healthcare costs, Social Security benefits, and investment portfolio. Use our calculator for a personalized Monte Carlo analysis.

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Other Counties in North Carolina

Wake CountyMecklenburg CountyGuilford CountyForsyth CountyCumberland CountyDurham CountyBuncombe CountyUnion County

County-level data from U.S. Census Bureau American Community Survey (ACS) 2022 5-Year Estimates. Additional sources: SSA, BLS. Estimates based on county-level medians and the 4% withdrawal rule. This is not financial advice.