This small state in the eastern United States has generally been overlooked, but it has become a new epicenter for retirees from all over the United States who are flocking to live there, so far in 2024.
With its stunning natural beauty, low cost of living, and a plethora of outdoor activities, this corner of the country is attracting seniors from all over the country, and you’ll find out why it’s become so attractive. According to the latest Bankrate report, this state has positioned itself as the most affordable state to retire in, surpassing more conventional and popular destinations such as Florida or Texas.
The Perfect State to Retire in the United States
West Virginia has become the preferred retirement destination in the United States in 2024. This state, known for its stunning natural landscapes and its rich history rooted in the very founding of the United States. In the last couple of years, it has emerged as the most attractive option for those looking for a quiet and affordable retirement.
According to a recent Bankrate report, West Virginia ranks as the most affordable state to retire in this year. With a cost of living index of 79.4, 20.6% below the national average, it offers a financially viable alternative for seniors looking to stretch their retirement savings.
James Thompson, an economist specializing in retirement trends, comments: “West Virginia has a unique combination of factors that make it irresistible to retirees. Affordability is just the tip of the iceberg.” Thompson notes that the state offers significantly cheaper housing, utilities and transportation compared to other popular retirement destinations.
The Advantages of Retiree Living in West Virginia
A recent study by the Gerontology Research Institute reveals that 78% of retirees who have moved to West Virginia in the last two years report a significant improvement in their quality of life. The survey, which covered more than 5,000 retirees nationwide, highlights satisfaction with the natural environment and recreational opportunities as key factors.
This is confirmed by Eleanor Paxton, 68, who moved from Florida to Lewisburg, West Virginia, in 2023.: “I never imagined I would fall in love with this place so much. The costs are much lower, and the natural beauty is incomparable. Here, my pension yields much more,” says this happy woman who does not regret her decision.
Tax Benefits for Retirees in West Virginia
West Virginia offers property tax relief and exemptions for Social Security and retirement income. According to the state Department of Revenue, these policies can result in annual savings of up to $3,500 for the average retiree.
Domestic tourism has also experienced a boom. The West Virginia Department of Tourism reports a 45% increase in visits by people 60 and older in the last year. Places like New River Gorge National Park and The Greenbrier resort have seen a significant increase in senior visitors.
The Disadvantages of Retiring in West Virginia
While West Virginia’s urban areas offer adequate healthcare, rural areas still face challenges in this regard. This is a factor to consider when choosing the city to permanently move to, carefully researching healthcare options in the areas where you plan to settle.
The climate also presents challenges. Winters in West Virginia can be very cold, especially for those who come from warmer climates and are not used to snow or high humidity. However, many retirees see this as an opportunity to enjoy winter activities such as skiing and snowshoeing.
To top it off, the good news is that crime rates in West Virginia are significantly lower than the national average, and with close, small, supportive, and friendly communities, the retirement environment is quite safe compared to other more popular states.
