Retirement in West Virginia
West Virginia is the most affordable state for retirement in the U.S. for the second year in a row, offering low cost of living, low property taxes, and affordable homeowners insurance. However, it ranks poorly in wellness scores and quality of healthcare.
Key Points
- West Virginia is the most affordable state for retirement in the U.S.
- Cost of living in West Virginia is 9% lower than the national average
- Housing costs in West Virginia are 20% lower than the national average
- West Virginia will phase out state-level taxes on income from Social Security benefits by 2026
- Residents 65 and older in West Virginia can claim deductions up to $8,000 per person
Pros
- Low cost of living
- Low property taxes
- Affordable homeowners insurance
Cons
- Poor wellness scores
- Low quality and high cost of healthcare