Forget Florida — these two unexpected states are the new retirement hot spots

Moneywise

Sun, Jun 15, 2025, 7:32 AM 5 min read

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Retirees are flocking to some states in droves. While their motivations aren't entirely clear, the growing cost of living — especially property taxes — is a likely factor.

A John Burns Research and Consulting study ranked states based on their highest and lowest median property tax rates.

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Those who are ready might look to West Virginia and South Carolina — two states standing out as retiree hotspots, with property taxes of under 0.5%. While it can be tempting to save money, retirees should fully understand their finances, including their budget and spending habits, before relocating. This ensures they can afford the move, no matter how financially appealing it may seem.

Here’s what they offer and what retirees should consider.

West Virginia is ranked second best for retirement, just behind Delaware. While an official annual retiree count isn't available, the U.S. Census Bureau reports that as of 2020, the state has a population of approximately 1.8 million, with 22% of the population aged 65 and older.

According to the Bankrate study, West Virginia is the most affordable state in the country. But West Virginia’s appeal stretches beyond finances. Charleston offers laid-back, scenic mountain living with big-city amenities, as well as a thriving arts and culture scene.

West Virginia’s affordability also helps residents battle inflation, another sticking point in choosing where to retire. For example, the state has the ninth-lowest average property tax rate in the U.S. (0.55%).

Another way to combat inflation is by investing in inflation-protecting assets, like gold. One way to invest in gold that also provides significant tax advantages is to open a gold IRA with the help of American Hartford Gold.

Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account — combining the tax advantages of an IRA with the protective benefits of investing in gold. This makes it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.