Introduction
Are you looking for a rural town to buy some real estate in Virginia? Want to get a mortgage and live the American Dream or just retire away from the big city? Who doesn’t right?
Today we are looking at great rural towns in Virginia.
Virginia is a very historic state or commonwealth that in my opinion is very different depending on what side you are on. Most states are like that, Virginia seems to me to be a little more noticeable than most.
Like I said in the other videos, I normally do Top 10 lists, but not all states have 10 good rural towns and I don’t want to waste your time with some places that are a reach just to get to 10. Virginia has crime issues in their small rural towns and they seem to be lacking when it comes to decent internet. Those two things knocked a bunch of great small towns off this list. For those of you that keep commenting about not needing the internet, congratulations, you are a rarity these days. I’d also like to talk to you and find out what it's like still living in 1990 22 years later.
The focus of this series is rural towns. That normally implies a good distance outside a metro area.
With the towns in this video, we are looking for that sweet spot. A decent place to live that isn’t too close to any major cities, easy on the crime rate, not 5 hours away from a hospital or so far out in the sticks they have horrible internet. Those things knocked a lot of small towns off this list.
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Content
Are you looking for a rural town to buy some real estate, wanna, get a mortgage and live the American dream? Are you just looking and retire away from the big city who doesn't right.
Today? We're, looking at great rural towns in the Commonwealth of Virginia., Yes.
It's Commonwealth, not a state.
There's, not much of a difference unless you're in the Commonwealth.
They seem to take some kind of pride in it., And, they'll, correct., You Virginia is a very historic state or Commonwealth.
And.
In my opinion, it's very different.
Depending on what side of the state you happen to be standing.
On.
Most states are sort of like that.
Virginia seems to be a little more noticeable than most states.
Like I said, in the other.
Videos, I normally do top 10 lists, but not all states have 10 good rural towns., And I, don't wanna waste your time with a bunch of places that are reach just to get to 10.
Virginia has some crime issues in their small rural towns, and they seem to be lacking when it comes to decent internet.
Those.
Two things knocked a whole bunch of great small towns off this list.
And for those of you, who've been commenting lately about you, don't need internet., If you're moving out to the country.
That's part of the reason you wanna disconnect., Congratulations.
You are a rarity.
These days.
I'd also like to talk to you and find out what it's like still living in 19 90, 22 years.
Later.
People need internet these days, especially if you're working from home.
But.
The focus of this series is rural towns.
That normally implies a good distance outside of Metro area.
When.
It comes to towns in this video.
We are looking for that sweet spot, a decent place to live that isn't too close to a major city.
It's easy on the crime.
It's, not five hours away from a hospital, and it's not so far out in the sticks that you get horrible internet.
Those are the requirements.
Get it.
Got it.
Good.
Let's.
Take a look.
Number six, Floyd, Virginia Floyd sits about 45 minutes west of Rocky mountain, Virginia.
The town of Floyd was originally called Jacksonville.
The named it after president Andrew accent.
And.
He was, you know, the man in the white house when the town kind of came to be.
The name was subsequently changed to Floyd for Virginia, governor John Floyd.
Now.
He was pretty interesting.
Guy.
He was the governor of Virginia, but he's the one that actually started pushing for the United States to kind of claim Oregon as part of the United States.
After, the war of 1812, by both Britain and the United States had claimed Oregon, but nobody was really pressing the issue and there were no outposts or anything like that out there at the time.
He's, the one that pushed for it to happen.
They named the town after him, these days.
It's, a small rural town.
That's, got a population of about 600.
It's, a nice looking place.
The countryside here is amazing.
It's nice.
It is a great place to live.
They got a crime rate that sits 14% below the national average, which is outstanding.
When.
It comes to healthcare.
They have some health clinics in town, nothing big, and a few doctors, office, family practice, things like that.
If.
You need a hospital.
They have the Carilion new river valley, medical center, which is about 25 minutes to the north.
So.
They get a thumbs up for both healthcare and crime rate.
When it comes to internet, not a problem.
Now, keep in mind the internet numbers they give.
You are mostly for the downtown and surrounding area.
The.
Further you get out into the world portions, eh, you got some, you know, you gotta question, them., If, they're gonna be able to deliver internet to your place before you buy someplace, always keep that in mind.
And, as time goes on, that will become less and less of an issue, especially with things like what Elon Musk is doing with his new satellite internet thing.
It's supposed to be pretty good.
We'll see how it pans out in the next years.
But right now you have a few choices.
You have citizens, internet broadband, whatever you wanna call it, they offer one gig and they say they cover 90% of Floyd.
They also have one called all points.
Broadband.
It only gives you 25 MVP.
And, that covers about 25% of the town.
So.
They get a thumbs up for internet, which to be perfectly honest.
I was surprised that they had as good a coverage in Floyd.
Cuz Floyd is not a big place.
Uh, there's only 600 people that live here and they got decent internet.
Floyd also gets big thumbs up for their real estate.
They have a lot of things for sale, both in town and the outskirts.
And.
It's a wide range of prices.
Too.
I've seen some decent ones here, just going by Zillow that are under 200,000 that are in town, four bedroom, three bath, $189,000.
Older home looks decent.
They got some other ones, four 50, but three 50 to four 50 is what you're probably looking for to find something nice in and around town.
If you wanna go outside of town.
You could find some older homes that need a little work.
That'll, probably come with a couple acres and those go for about 200,000 as well.
Here's, something to keep in mind about all Virginia towns.
They're, really close to nature.
Almost always.
That means hiking trails, fishing, whatever you wanna do, you're gonna, find it here.
Virginia's just that way.
Sure.
When you get over into the cities like Richmond and stuff, like that, you're, not gonna, find as much, but most of the stuff we're talking about on this list is rural.
Rural always has hiking.
Virginia has really good hiking.
Number, five, Abington, Virginia Abdon is a nice rural town, about 20 minutes north of the Tennessee border.
And about two hours, Southwest of Roanoke, Virginia.
Again.
This is a great place.
If! You like the outdoors.
As a matter of fact.
You could find a trail head for the Virginia creeper trail in Abington, where you outdoor types.
This, offers the possibility of seeing some amazing wildlife and some awesome landscapes and kind of big for rural town, but just outside of a great downtown.
You have wilderness and farms.
Everywhere.
This is a great place to live.
If.
You do wanna be away from big cities, I mean Bristol's right down the road, but Bristol's, really not that big.
It has a population of 8,000.
That's, pretty good size.
And.
They have a crime rate that is 39% lower than the national average that outstanding.
Now.
When it comes to internet, you can get one gig from Xfinity, which covers 90% of the town.
They also have point broadband, which offers one gig and they also offer 60% of the town.
So.
Both crime and internet get a thumbs.
Up.
It's a big thumbs up for healthcare, right outside of town.
They, have Johnston Memorial hospital emergency room.
The bit.
It's also a great place.
If.
You wanna buy a house.
They have a wide range of prices and property sizes and all that good stuff.
Currently they have homes as low as 200,000, but go up to about 550,000.
I would say a majority of the good ones, you'll find between 250 and 325,000.
And I'm.
Talking really nice homes, big lots.
You're, not right.
On top of each other.
Just nice homes., So yeah.
They definitely get a thumbs up for real estate.
Number four, Coburn, Virginia Coburn is a mountain town on the west side of Virginia, about an hour north of Kingsport NSE on the guest river.
This is a great place for hiking, fishing and camping.
And.
It's also a great place to get lost in the woods.
Apparently.
This happens a handful of times annually in these parts, the town of Coburn, was originally named guest station.
After an Explorer and surveyor Christopher guest.
If you've ever played the game.
Assassins, creed he's there, but he was a real man, Explorer and surveyor.
And.
They named the town after him, even though his last name spelled GI S T.
They went with guest and then they changed it to Coburn.
After a railroad chief engineer., You know, when I do these things, it's, I'm, always amazed how often rail lines have shaped this country, whether it's the name of a place, whether there's a town someplace because of the rail.
I? Just don't think people these days realize how important trains were to this country.
So.
Many of these little towns named different things after rail people, because there was really nothing to the town and the rail was like a godsend that now they can get supplies.
The town will grow.
More.
People will come to the area.
It's really interesting when it comes to internet, they're, doing really good here.
Now I'll tell you right.
Now.
More often than not mountain towns are the ones that have horrible, internet.
It's just hard to get the line out to a lot of these different places, especially when they're up the Hills off the road.
It's kind of hard, but they're doing pretty good here.
They get one gig from Xfinity in Xfinity covers 85% of the town.
You also have mountain net, which gets one gig.
They cover 35% of the town.
You got a couple.
Other ones called point broadband, 10% of the town.
And.
Then you always have the satellite internets.
So.
They get a thumbs up for internet.
Now, when it comes to healthcare, they're.
Doing pretty good.
They have like a doctor's office in town, nothing major, but down the road, about 15 minutes away in Norton.
You have the Norton community, hospital.
That's, a good size place has just about everything you need.
Anything, past that, you're gonna probably have to go down to Knoxville or something like that.
So.
They get a thumbs up for healthcare.
Number, three, Strausberg, Virginia, or Strausberg Strausberg.
I've actually heard people call it both.
They kind of put this owl on there like Strausberg, but it's really Strausberg.
And I'm.
Sure a bunch of people are gonna comment in the comment: section.
So, uh, buckle up for that one.
Strasburg sits about an hour and a half west of Washington, DC on the north fork of the Chan Doah river.
This is a beautiful town of about 6,500 residents.
Besides having great stats all the way, around.
I included this one for the veterans.
They have some great VA hospital that are within an hour away, hour and a half.
If.
You want to go into DC for everyone else.
They get a thumbs up for healthcare because they have a few family practices in town, along with their urgent care.
Beyond that you have Warren Memorial hospital, about 20 minutes away in front Royal.
So.
They got plenty of healthcare.
They're, doing great.
They get a thumbs up for crime.
Two, it's 51% lower than the national average, which is outstanding.
Now.
Their internet.
I'm gonna, give it a faded thumbs up because they have a company called Chantelle.
They have one gig, but it only covers 85% of the town.
They also offer 100 megabytes per second.
And that cover about 90% of the town.
I'm.
Sure some people in the neighborhood or in this town are getting hosed.
So.
They get a faded thumbs, up.
When you're.
Looking at real estate, they have quite a few things to choose: from.
And.
They range right now from 200,000 up to about 700,000.
Most of the time, you're lucky to see something between 200 and 250,000 pop up.
But.
What you're really looking at is like 400 to 500,000.
And that'll, get you something decent and something place nice to live.
But.
This place gets high marks because it is a beautiful little town.
There's plenty of fishing, hiking, camping.
You're right there next to West Virginia, which is an outdoor paradise.
Overall.
This is one of my favorites on the list and we're not doing this in any special order.
I.
Just really like this one.
Number, two Cape Charles Virginia Cape Charles, is located close to the mouth of the Chesapeake bay on Virginia's Eastern shore.
This place was founded in 1884 as a planned, community.
By guess what a railroad, company, well ferry and railroad company.
This is not a place for people that are looking to retire are on a budget, or let's say you work from home and you you're not killing it in the salary department.
This is not your place.
This place is pricey because it sits on the Chesapeake.
Bay.
They have a golf course, and they have like a marina for your boat, but it is definitely away from any Metro area.
The closest Metro area is about 45 minutes away and you gotta cross the speak bay bridge, tunnel.
And, that's where you'd have to go.
If.
You have to go to a big hospital.
They do have a medical center in town with some doctors and stuff like that, but anything big, you're gonna have to head out to Virginia Beach, which is a little less than an hour.
Away.
This is a nice beach and rural community.
I was watching a video about a guy that lived there and he said that him and his girlfriend at the time they've now been married.
Like 30 years., They came out here for one of her friend's weddings.
And.
It was the first time he'd ever been to Cape Charles.
And.
He was like, we're moving here.
And a few years later.
They did.
And they never left.
I mean.
How could you not wanna live in a place that has an art thing on the coast that just says, love.
Look at that.
They only have around a thousand people living.
He here, and they have a crime rate, that's 54%, lower than the national average and that's outstanding.
So.
They get a thumbs up for that one.
When.
It comes to internet, they're, doing pretty good, especially being this far away from everything.
You can get one gig from Eastern shore of Virginia broadband authority.
And.
They say they cover 95% of the town.
So.
They get a thumbs up for that one.
Now, like I said.
It gets expensive.
And one of the most expensive things here is real estate.
Currently.
They have three things for sale and they're, going $4 million.
But back in February and March.
They did have some homes that were for 300 and 350,000.
But in my opinion, you're gonna need to spend at least 600, 700,000 to get something decent.
Here.
You, just gotta, keep watching and hope something pops up that you kind of like.
So they get a faded thumbs up for real estate, cuz.
They don't have a lot to choose from.
And when they do have something to choose.
It's kind of expensive., All right.
Before we get to number one, don't forget.
Have another channel called on this day.
There's a link down below.
All right on to number one.
And number one, Amherst, Virginia Amherst is a town of about 2,500 that sits about 20 minutes north of Lynchburg, Virginia.
This is a nice place to live if you're into wine or antiques.
Honestly.
If you Google things to do in Amherst, seven of the top 10 things are wine or antiques.
This is a great place for retirees that may need medical specialists.
Amherst has a few doctors in a medical clinic, but Lynchburg is 20 minutes down the road and they'll have everything you need.
They have some really good hospitals that have very high marks.
Yes, I looked it up.
Amherst was actually founded in 1807., Originally was known as the Oaks and then seven Oaks.
And.
It began as a stage coach station for the Charlottesville Lynchburg road.
Finally, a place that didn't start because of a train Amherst like so many other places in Virginia.
Just it's great for people that love the outdoors.
If.
You know anything about the Pacific Northwest.
This part of Virginia kind of reminds me of it, every things green.
And.
It seems like there's a pond or a Creek around every bend.
But like I said.
They got great healthcare.
So.
They get a thumbs up here for that.
Their crime rate is 73% lower than the national average.
So.
They get a big thumbs up for that one.
When.
It comes to their internet, uh, they're, getting a faded, thumbs.
Up.
They have Xfinity one gig, but it only covers about 58% into the town.
They also have another one called CS.
Broadband.
They offer one gig, but that only covers 25% of the town.
They have some other ones that give like 25 MVPs, but that's really not for the greatest.
When.
It comes to real estate.
They get a big thumbs up because they have everything.
They have a few homes for 200,000.
They've got a bunch for between 300 and 450,000.
Of course.
If you want to dump a million and a half on a piece of property, you get 34 acres in a really nice house.
So they're, all over the place.
And.
They got a handful to choose from.
In the last six months, they've sold like eight or under 250,000.
So, they got a price range for just about everyone.
All, right.
That's.
Today's video.
Hope, you guys enjoyed it.
Do me a favor.
Don't forget to hit that like button.
It really helps out the channel.
That way.
I can keep feeding my pig.
All right.
Everyone have a great day.
Be nice to each other.
FAQs
What are Virginia's Best Rural Towns to Retire or Buy a Home.? ›
Outside of the obvious entertainment benefits, Virginia Beach is one of the safest cities in the state. Out of the top 20 safest cities in Virginia, this Hampton Roads town is the only area with a population over 400,000. The next biggest city on the list is Blacksburg at just over 45,000.
What is the best area of Virginia for retirees? ›- Martinsville.
- Danville.
- Petersburg.
- Bristol.
- Hopewell.
- Roanoke.
- Lynchburg.
- Staunton.
- Martinsville. The cheapest place to live in Virginia is Martinsville. ...
- Big Stone Gap. The second most affordable place to live in Virginia is Big Stone Gap, which is located in the state's southwestern corner. ...
- Bluefield. ...
- Covington. ...
- Pulaski. ...
- Galax. ...
- Bristol. ...
- Danville.
Outside of the obvious entertainment benefits, Virginia Beach is one of the safest cities in the state. Out of the top 20 safest cities in Virginia, this Hampton Roads town is the only area with a population over 400,000. The next biggest city on the list is Blacksburg at just over 45,000.
Is Virginia a good state to retire in financially? ›Virginia ranked the best state for retirees
Virginia's number one position relates mainly to the access to healthcare and the quality of life of retirees in the state. On both of these indicators Virginia ranks eleventh in the country and sixteenth on the affordability metric.
- How We Determined the Best Places to Retire. Virginia is tax-friendly for retirees. ...
- Fairfax County. If you're looking to retire in the great outdoors, Fairfax County may be the perfect place for you. ...
- Falls Church. ...
- Abingdon. ...
- Williamsburg. ...
- Bedford. ...
- Fredericksburg. ...
- Vienna.
1 state to retire in, Virginia has taken the top spot this year, according to personal finance website WalletHub's “2023′s Best States to Retire” study. WalletHub evaluated all 50 U.S. states in three key categories: affordability, quality of life and access to health care.
What are the pros and cons of retiring in Virginia? ›Pros of Living in Virginia | Cons of Living in Virginia |
---|---|
3. Good Job Market | 3. High Cost of Living |
4. Thriving Economy | 4. Plenty of historical features |
5. Excellent Schools | 5. Exceptional Autumn |
6. Top Medical Facilities | 6. Difficult housing market |
Virginia is more tax-friendly for retirees. Income is taxed at the state rate of 5%, which is lower than North Carolina. In addition, pension incomes and retirement account withdrawals are only partially taxed. Like North Carolina, there are no taxes on Social Security income.
What is the most affordable state to live for seniors? ›Rather, Alabama is the most affordable state to retire in, according to WalletHub's “2023 Best States to Retire.” The analysis compared all 50 states across three key categories: health care, quality of life and affordability.
What town in Virginia has the lowest crime rate? ›
Purcellville
The safest place to live in Virginia is Purcellville. It has a population of 8,200 and is the safest city in Virginia. Purcellville's crime rate is 467 per 100,000, which is 72% lower than the state average.
- Mesa, AZ. Mesa welcomed 4,967 new residents age 60 and older from other states in 2021. ...
- Henderson, NV. ...
- San Antonio, TX. ...
- North Las Vegas, NV. ...
- Boise, ID. ...
- Wilmington, NC. ...
- Frisco, TX. ...
- Miami, FL.
Bridgewater had 1 violent crime report for the lowest violent crime rate in the state (0.2 per 1,000 residents).
What is the number 1 state to retire in? ›The best state to retire: Vermont
Vermont quietly has a lot going for it, including very good scores in public health, crime, quality of life, and cost of living. It also has lower-than-average housing costs as well as reasonable taxes for retirees.
The study took into account affordability, quality of life and health care to come up with their list. Researchers said the best state to retire in is Virginia, with Florida and Colorado following right behind.
What is the best state to retire in financially? ›- Florida. The poster child for states to retire in, Florida offers beautiful weather, zero income tax, and numerous outdoor offerings for relaxation and entertainment. ...
- Virginia. Virginia offers variety to retirees. ...
- Alaska. ...
- Colorado. ...
- Delaware. ...
- New Hampshire. ...
- Ohio. ...
- Hawaii.
Yes. Any pension income you receive while you are a Virginia resident is taxable by Virginia, even though it may have been received from another state.
Do retirees pay state income tax in Virginia? ›Virginia is tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are partially taxed. Wages are taxed at normal rates, and your marginal state tax rate is 5.00%.
What do I need to know about retiring in Virginia? ›Virginia is the top state to retire to, according to a new study from WalletHub. Virginia has a good balance of affordability, quality of life and health care, ranking high in all three categories. WalletHub points to the commonwealth's tax friendliness to retirees and great access to adult volunteer activities.
Why is Virginia the number one place to retire? ›WalletHub's study found that Virginia has a number of factors that make it a great place to retire, including: Affordability: The cost of living in Virginia is below the national average. Quality of life: Virginia has a strong economy, a low crime rate, and a variety of cultural and recreational opportunities.
Where is the best place to retire financially? ›
Countries Natixis ranked as secure retirement locations are mostly concentrated in Europe but also include New Zealand and Australia. The top three countries in the rankings are Norway, Switzerland and Iceland, all of which have life expectancies of 83 years, compared to 77 in the U.S. and the world average of 72.
At what age do you stop paying state taxes in Virginia? ›In addition, Virginia allows an exemption of $800* for each of the following: Age 65 or over: Each filer who is age 65 or over by January 1 may claim an additional exemption. When a married couple uses the Spouse Tax Adjustment, each spouse must claim his or her own age exemption.
Does Virginia tax Social Security payments? ›Virginia State Tax: Overview
Virginia's average combined state and local sales tax rate is 5.75%. The statewide median property tax rate is generally below average, too. Virginia does not tax Social Security benefits. Railroad Retirement benefits are also exempt.
To live comfortably in Virginia, an annual income of $64,947 is needed, according to the 50/30/20 budgeting rule (50% for necessities, 30% for discretionary expenses, and 20% for savings). Virginia's median household income is $74,222, making it an affordable place to live.
What state has the lowest property taxes for retirees? ›- Alabama. Alabama is one of the few states with absolutely no property taxes for seniors. ...
- Alaska. Retirees over 65 get a tax exemption for the first $150,000 of their house's value. ...
- Florida. Florida is another great state for seniors who don't want to pay property taxes. ...
- Georgia. ...
- Mississippi. ...
- South Dakota. ...
- Hawaii. ...
- Alabama.
Ecuador. If you're looking for a country where you can retire outside the US comfortably with $800 per month and experience one of the most ecologically diverse places in the world, then Ecuador might be for you. The go-to city for US retirees in Ecuador is Cuenca, which also happens to be a UNESCO World Heritage site.
What is the easiest state to live in financially? ›- Mississippi. Coming in as the cheapest state to live in in the United States is Mississippi with a cost of living index score of 83.3. ...
- Kansas. ...
- Alabama. ...
- Oklahoma. ...
- Georgia. ...
- Tennessee. ...
- Missouri. ...
- Iowa.
The top five states where your money will go further are Alabama, South Carolina, Tennessee, West Virginia and Wyoming. While Wyoming ranks in the top ten for quality of life, the other four are at the tail end of the list, it and the others are laggards with respect to health care when compared to the other states.
What is the most crime ridden city in Virginia? ›Richmond is the capital of Virginia as well as being one of its most violent cities. It has a population of 204,214 and a crime rate of 3,270 per 100,000, which 39% higher than the U.S. average. In 2022, Richmond had a total of 7,703 property and violent crimes.
What are the unhealthiest cities in Virginia? ›The 2022 County Health Rankings National Findings Report has been released and out of 133 cities and counties in Virginia, Martinsville is among the unhealthiest. The city of Martinsville is rated 129, ahead of only the cities of Galax, Hopewell, Emporia and Petersburg.
What is the most common crime in Virginia? ›
Reckless driving is by far the most commonly charged criminal offense in Virginia, but it is still a criminal offense. In many counties, it is best to work with an attorney to reduce or dismiss a reckless driving charge rather than tarnish your record.
Where is the most affordable place to live for seniors? ›- Tulsa, Oklahoma. ...
- Myrtle Beach, South Carolina. ...
- Sioux Falls, South Dakota. ...
- Chattanooga, Tennessee. ...
- Sherman, Texas. Cost of living for retirees: 13.0% below U.S. average. ...
- St. George, Utah. ...
- Roanoke, Virginia. Cost of living for retirees: 8.7% below U.S. average. ...
- Spokane, Washington.
- Eugene, Oregon. Population: 377,749. ...
- Asheville, North Carolina. Population: 459,344. ...
- Toledo, Ohio. Population: 643,724. ...
- Port St. Lucie, Florida. ...
- Youngstown, Ohio. Population: 538,115. ...
- Pittsburgh. Population: 2,324,447. ...
- Philadelphia. Population: 6,092,403. ...
- Manchester, New Hampshire.
Maine topped The Motley Fool's list of best U.S. states to retire, with high marks for quality of life, safety, and health care cost and quality. The state has the highest percentage of residents over age 65, so retirees can find like-minded neighbors who enjoy the outdoors, natural beauty, and reliable health care.
Where is the poorest city in Virginia? ›Of the 328 towns in the state with available data, Jonesville ranks as the poorest. The typical Jonesville household earns just $17,344 a year, 78.5% less than the statewide median household income. Given the low incomes, it is not surprising that a larger than average share of residents live in poverty.
What state has the lowest property crimes? ›State/rank | Violent crime rate | Property crime rate |
---|---|---|
1. Maine | 109 per 100K residents | 1,156 per 100K residents |
2. New Hampshire | 146 per 100K residents | 1,099 per 100K residents |
3. New Jersey | 195 per 100K residents | 1,158 per 100K residents |
4. Vermont | 173 per 100K residents | 1,217 per 100K residents |
Known as "Virginia's Switzerland" or "Virginia's Little Switzerland", Highland County is the least populous jurisdiction in Virginia, including counties and independent cities. Highland lays claim to being one of the least populous counties and one of the highest average elevations east of the Mississippi River.
What states are not good to retire in? ›Kentucky ranks as the worst state to take up retirement in 2023, according to a WalletHub study. This year, the state landed in last place which was occupied by New Jersey in 2022. WalletHub ranked all 50 U.S. states based on three key categories: affordability, quality of life and health care.
How do I get the $16728 Social Security bonus? ›To acquire the full amount, you need to maximize your working life and begin collecting your check until age 70. Another way to maximize your check is by asking for a raise every two or three years. Moving companies throughout your career is another way to prove your worth, and generate more money.
What are the best states to retire in no taxes? ›Retirement distributions from 401(k) plans or IRAs are considered income for tax purposes. Fortunately, there are some states that don't charge taxes on retirement income of any kind: Alaska, Florida, Nevada, South Dakota, Tennessee, Texas, Washington and Wyoming.
Which state is better to retire in Delaware or Virginia? ›
For example, WalletHub ranked Virginia as the best state to retire in its 2023 study, followed by Florida, Colorado, Wyoming, and Delaware. Why Virginia? WalletHub's methodology evaluated quality of life, affordability, and health care using 47 metrics.
Are taxes higher in VA or MD? ›There is no way to compare and say that Maryland or Virginia is better because they are so similar. The difference lies in the income tax which is much higher in Maryland than Virginia, and the possibly offsetting personal property tax in Virginia.
Why do people retire in Virginia? ›In addition to a favorable retirement taxes, Virginia also ranks high among other states in terms of affordability, making it an attractive option for retirees on a budget. The cost of living in Virginia is generally lower compared to some of the neighboring states, particularly in areas such as housing and healthcare.
Can you retire on $3,000 a month? ›If you have a low living cost and can supplement your income with a part-time job or a generous pension, then retiring on $3,000 a month is certainly possible.
Where is the cheapest warm place to retire? ›- Tarboro, North Carolina. ...
- Melbourne, Florida. ...
- Lakeland, Florida. ...
- Mountain Home, Arkansas. ...
- Mount Airy, North Carolina. ...
- Kingsport, Tennessee. ...
- Roanoke, Virginia. ...
- College Station, Texas.
Taxes for Retirees
Pension incomes and personal withdrawals from retirement accounts are also taxed. Virginia is more tax-friendly for retirees. Income is taxed at the state rate of 5%, which is lower than North Carolina. In addition, pension incomes and retirement account withdrawals are only partially taxed.
The study took into account affordability, quality of life and health care to come up with their list. Researchers said the best state to retire in is Virginia, with Florida and Colorado following right behind. The study says the worst state to retire is Kentucky. You can find the entire study here.
How much does it cost to live in a retirement community in Virginia? ›First, let us look at the average costs of assisted living communities., Assisted living in Virginia will cost an average of $4,850 per month (2021) which amounts to a yearly expense of $58,200. With that said, the cost of assisted living communities in Virginia is pricey than the national average of $4,300 per month.
What state is best financially to retire to? ›The best state to retire: Vermont
Vermont quietly has a lot going for it, including very good scores in public health, crime, quality of life, and cost of living. It also has lower-than-average housing costs as well as reasonable taxes for retirees.
Although the average age in a retirement community is 84 years old, moving into a community greatly depends on the individual. Some people choose to move into a retirement community at a younger age, but a large majority make the transition between the ages of 75 and 84.
What state has the lowest cost of living for retirement? ›
Rather, Alabama is the most affordable state to retire in, according to WalletHub's “2023 Best States to Retire.” The analysis compared all 50 states across three key categories: health care, quality of life and affordability.