In 2000, nearly 515,000 of the state’s 3.1 million households—16%—received retirement income. This proportion increased to 19% or 693,000 households by 2010-14, according to the American Community Survey.
While the number of households receiving retirement income has increased by 178,000, a growth rate of 35%, the aggregate value of retirement income received has grown even more. Retirement income received by North Carolina households rose from $8.7 billion in 2000 to $15.1 billion by 2010-14. This increase of $6.5 billion represents a 75% increase in household income received from retirement sources.
The counties with the largest growth in the number of households receiving retirement income since 2000 are those that are strongly influenced by retiree and military populations: Brunswick (+88%), Hoke (+83%), and Chatham (+79%). Wake County had the fourth largest growth rate in households receiving retirement income (+72%) and the largest numeric increase (+22,000). The aggregate income from retirement accounts received by Wake County households has more than doubled since 2000, rising from $617 million to $1.4 billion in 2010-14.
Click on the image below to explore county-level shifts in the share of households with retirement income (opens new webpage).