For about fifty years, the retirement playbook went like this: sell the house up north, buy a golf cart and head for Florida. Warm winters, ocean views and no state income tax made it an easy call.
The playbook is changing, and the Carolinas are the reason.
In July, U-Haul released its 2026 Midyear Migration Trends report. It ranks where each generation is moving based on every state’s net gain of one-way U-Haul trucks, trailers and U-Box containers between July 2025 and June 2026. Among baby boomers, South Carolina came in first and North Carolina came in second. Florida, the longtime favorite, fell to third.
That’s a big deal for anyone living around Lake Norman, and for anyone thinking about joining us. The same things pulling boomers north of the Florida line are things our corner of North Carolina does well: reasonable costs, easy access to the rest of the country, and more ways to spend a Tuesday than you can fit into a week.
Here’s what the numbers say, and why so many people are deciding their next chapter looks a lot like a dock on the lake.
What the U-Haul Data Actually Shows
Florida is still popular. It just isn’t boomers’ top pick anymore.
U-Haul sorted its customers into four groups: baby boomers (born 1946–64), Gen X (1965–80), millennials (1981–96) and Gen Z (1997–2012). Florida was the only state to make the top 10 for all four generations, and it ranked No. 1 for both Gen X and millennials.
Boomers went a different direction. Six of their top seven states were in the Southeast, and Arizona was the only exception. The Carolinas took the top two spots.
That’s a real shift from just a few years ago, when Fortune reported that boomers were still set on retiring in Florida even as rising costs pushed many of their peers out.
One caveat: this data reflects U-Haul customers, not the entire population. Still, it gives a useful read on where each age group is heading, and plenty of those trucks are pulling into driveways in Mooresville, Cornelius and Denver.
For Lake Norman, the takeaway is simple. The people moving here are increasingly people who have already lived somewhere else, compared their options and picked the Carolinas on purpose. That’s good company to keep.
Taxes and Housing Costs
Florida wins on income tax. The Carolinas win almost everywhere else.
Florida still has no state income tax, but both Carolinas keep their rates low. North Carolina has a flat 3.99% rate this year, and a law signed in July will lower it to 3.49% in 2027. South Carolina overhauled its income tax this year, moving to 1.99% on the first $30,000 of taxable income and a top rate of 5.21% above that.
Florida homeowners have also been hit hard by rising insurance premiums and condo association fees. Many condo sellers have had to cut prices, and housing inventory is climbing in parts of the state.
Lake Norman isn’t the cheapest spot in North Carolina (waterfront rarely is anywhere). Even so, retirees here get lake living, a growing restaurant scene and good healthcare nearby without Florida’s insurance headaches. If you’re comparing the numbers yourself, check property tax rates by county, since the lake touches four of them: Mecklenburg, Iredell, Catawba and Lincoln.
Close to Everything That Matters
Retirement doesn’t mean staying put, and the Carolinas make getting around easy.
More Americans are working well into their 60s and 70s, consulting part-time or keeping a foot in the business they built. That makes geography more important than it used to be.
Florida’s peninsula sits far from the rest of the country. Miami, Tampa and Orlando are all a long way from any neighboring state. Miami may be a quick flight to the Caribbean, but the Carolinas are within a half-day’s drive of both Atlanta and Washington, D.C.
The airports help too. Charlotte Douglas International and Raleigh-Durham make business travel and grandkid visits much simpler, and Charlotte is one of the best-connected hubs in the country.
This is where Lake Norman really stands out. Most of the lake’s towns are a short drive from Charlotte Douglas, so you can fly out for a board meeting in the morning and be back on the water for sunset (I-77 traffic permitting, of course). Many people who live around the lake already split their time between Charlotte and home, and that same convenience works well for semi-retirees who aren’t quite ready to stop working.
Mountains, Beaches and a Lake in the Middle
Florida is flat. The Carolinas give you a little of everything.
The Carolinas have some of the most varied terrain in the Southeast. Beaches and golf courses line the coast. The Blue Ridge Mountains to the west offer hiking, biking and camping. In between, big lakes like Lake Norman and Lake Murray draw boaters and anglers all year.
Florida has its own outdoor appeal, from beaches to freshwater springs, but it doesn’t offer the same range. That matters more now that people are staying active well into retirement.
Lake Norman sits right in that middle sweet spot. The mountains and the coast are each a few hours away, close enough for a weekend trip without moving your whole life. At home, you have more than 500 miles of shoreline for kayaking, fishing, sailing or just watching the boats from a restaurant patio in Cornelius or Mooresville.
The lake also changes with the seasons. Summer means busy coves, boat traffic and long evenings on the water. Fall brings cooler days, college football and festivals in Davidson and Huntersville. Winter is quieter and more local, which is when a lot of longtime residents say they enjoy the lake most. For retirees who want variety without constant travel, that rhythm is a big part of the appeal.
The Weather Question
Warm weather used to be Florida’s best selling point. Now it’s more complicated.
Hotter summers, rising sea levels and hurricane risk have made Florida a riskier place to own property year-round. Combine that with the insurance costs mentioned above, and the sunshine comes with a bigger bill.
The Carolinas aren’t risk-free. Both coasts deal with flooding and hurricanes, and Hurricane Helene’s destruction in western North Carolina in 2024 showed that even the mountains aren’t immune. Many of our neighbors around Lake Norman spent that fall volunteering and sending supplies west, and the recovery continues.
Still, the Carolinas’ milder climate and higher ground give residents more choices about how much risk to take on. Inland areas like Lake Norman get real seasons (yes, you’ll need a jacket for a few months) without the coastal storm surge that worries so many Florida homeowners.
Smaller Markets Are Winning
Boomers aren’t just choosing different states. They’re choosing quieter places.
By the broadest measures, Florida is still the bigger draw. Its population reached about 23.5 million in 2025, third behind California and Texas. It grew 8.9% between April 2020 and July 2025, just ahead of South Carolina’s 8.8% and North Carolina’s 7.2%, according to the Census Bureau.
But a booming population isn’t always what retirees want. Look at boomers’ top 10 metro areas: the Florida markets on the list weren’t Miami, Tampa, Orlando or Jacksonville. They were Gainesville-Ocala at No. 1 and Daytona Beach at No. 9. Myrtle Beach and Charleston, S.C., ranked second and fourth, and Wilmington, N.C., rounded out the list.
The pattern is clear. Retirees want smaller communities with character, not sprawling metros.
Lake Norman is growing fast, and it’s fair to say so. New neighborhoods, restaurants and residents are arriving all the time. Even so, each town has kept its own identity. Davidson has its college-town charm, Mooresville has its racing roots, and Denver still has a small-town feel on the west side of the lake. You get Charlotte’s amenities nearby without living in the middle of them.
The New Retirement Dream Looks a Lot Like the Carolinas
The beach-and-shuffleboard version of retirement is getting an update. Today’s retirees want affordability, peace and quiet, room to stay active and easy access to the people and places that matter to them. More and more, they’re finding all of that in the Carolinas.
If you’re one of the newcomers who just pulled in with a U-Haul, welcome to the lake. Support the local shops, try a different waterfront restaurant every weekend and find a favorite sunset spot. If you’ve been here for years, you already know what everyone else is figuring out: we’re lucky to call this place home.
Jeff Hamm is a North Carolina real estate broker with Ivester Jackson | Christie’s International Real Estate, serving Lake Norman, North Carolina. He specializes in luxury and waterfront property, golf and lakefront communities, condominiums, active adult and family-friendly neighborhoods, and short-term rental and investment purchases – with a particular focus on buyer representation, where his relationships with the region’s top listing brokers, builders, and designers give his clients a measurable edge.
Jeff is also the founder and host of The Best of LKN, a podcast, newsletter, and media platform that has spotlighted the Lake Norman area’s most admired small businesses, nonprofits, and entrepreneurs since 2020. He publishes the annual Lake Norman Visitors Guide, regular market reports, and hosts The Best of Lake Norman Business Network.