Forget Florida – These two states are new retirement hotspots for low-cost and high-quality living

Retirees are flooding into certain states in large numbers. Although their motivations are not entirely clear, the growing cost of living (particularly property taxes) may be a factor.

David John, senior policy consultant retired expert, provides insight into the country’s insights based on affordability, health, health care costs, and quality, crime and weather.

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John stressed that retirees should fully understand their finances, including budget and spending habits, before relocation. This ensures that they can afford to act, no matter how attractive it looks.

According to the study, West Virginia and South Carolina are currently the two most popular places for retirees. This is what they offer and what retirees should consider.

West Virginia

West Virginia is second, behind Delaware. Although there is no official annual retiree number, the U.S. Census Bureau reports that the state's population as of 2024 was about 1.77 million, with more than 21% of those aged 65 and 65 and older.

Dr. Joshua Price, associate professor of economics at WVU Institute of Technology, told 59news The cost of living in West Virginia is low – below the national average, as well as tax incentives.

According to Bankrate's research, West Virginia is the most affordable state in the country. This affordability helps residents better manage inflation, and the price points out another incredible point, especially for retirees.

For example, the state has the lowest average property tax rate in the United States (0.55%). In the capital, Charleston, the median home sales price will result in monthly property taxes below $120. In addition, taxes on social security benefits will be phased out in 2026, benefiting those who are about to retire.

But West Virginia’s appeal is beyond financial conditions. Charleston offers laid-back scenic mountains, living in big urban facilities, and booming artistic and cultural scenes. Nearby towns like Hinton and Point Pleasant are known for their close, enthusiastic retirement communities.

Outside the capital region, popular retirement destinations include:

• Lewisburg, Known for historic buildings and quaint boutiques.

• Morgan Town, A vibrant university town with excellent healthcare facilities.

• swing, Offering affordable living and leisure options along the Ohio River.

Of course, no retirement destination is perfect. West Virginia’s challenges include access to healthcare facilities in rural areas, snow-prone winters, and fewer job opportunities for retirees to supplement fixed income.

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South Carolina

South Carolina has improved affordability since 2023, with six positions improving in Bankrate’s research starting the previous year. However, the overall cost of living remains above average, at about 95.9% of the national trademark.

Utilities costs contribute to higher expenses, while housing is still affordable. Other costs (such as groceries) are about the national average. House prices vary by region, but the state's median house prices (less than $297,000) are about 17% lower than the U.S. average.

What sets South Carolina apart is its tax structure. There is no inheritance tax, social security benefits are not taxed, and 401(k) and IRA withdrawals are only partially taxed.

The state offers a variety of retirement options:

• Myrtle Beach, Known for its iconic beachfront and golf.

• Charleston, Pre-war architecture with rich culture and a long history.

With nearly 200 miles of coastline, retirees can also find idyllic communities on islands like Kiawah and Seabrook.

While South Carolina’s mild winters and sunny summers attract many people, retirees should consider the hot summers in the area (the high of 89°F in July), as well as the risks of hurricanes and flooding. Another potential drawback is the relatively high health care costs in the state, ranking 33rd in the study.

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This article provides information only and should not be construed as advice. It is without any warranty of any kind.