Is Virginia a Good Place to Retire

Yes, Virginia is a good place to retire. For many retirees, the state offers a favorable combination of affordability, quality healthcare, and scenic living. 

This matters more than ever, especially when only 17% of Americans feel “very confident” they’ve saved enough for retirement. The state you choose can stretch your savings further, and Virginia often ranks as a smart choice.

Choosing where to retire is a decision that shapes your lifestyle, budget, and peace of mind. Virginia might be a good fit, but only if you know what to expect.

What You'll Learn

• The Real Pros and Cons of Retiring in Virginia

• How Virginia Treats Retirees When It Comes to Money

• The Best Places to Retire in Virginia Based on Your Lifestyle

Overview

Is Virginia a good place to retire? Yes, depending on your personal needs like budget, healthcare, and climate preference, Virginia offers diverse retirement experiences from mountain towns to coastal cities.

Here's a more detailed breakdown:

Financial Considerations

Virginia offers tax benefits for retirees, like no tax on Social Security, but other retirement income is taxed, though there are age deductions; property and sales taxes vary significantly by location.

Geographic and Recreational Diversity

Virginia boasts diverse landscapes, from the Blue Ridge Mountains to the Atlantic coast, providing ample opportunities for outdoor activities and scenic beauty.

Healthcare Access

The state has access to top-ranked hospitals and healthcare facilities, ensuring quality medical care for retirees.

Cultural and Historical Attractions

Virginia is rich in history and culture, with numerous historic sites, museums, and cultural festivals across the state.

Cost of Living and Housing

The cost of living is near the national average, but housing costs vary widely; some areas are affordable, while others, like Northern Virginia, are expensive.

Other Notable Aspects

Climate Variations: Virginia experiences a four-season climate, but summers can be hot and humid, especially in the southern and eastern regions, while coastal regions face hurricane risks.

Why Choosing the Right State Matters in Retirement

Choosing where to retire may be the most important financial and personal decision you make in your later years. And while it’s easy to focus on sunny beaches or postcard views, what really matters is how a state supports your lifestyle, protects your money, and helps you enjoy your golden years with less stress.

Virginia offers a strong case for many retirees. It has four-season beauty, rich history, and one of the most diverse landscapes in the country, from the Blue Ridge Mountains to the Atlantic shoreline. But all of that only matters if your income stretches far enough to cover daily life.

Pros and Cons of Retiring in Virginia

Virginia offers a blend of natural beauty, rich history, and modern amenities, making it an attractive option for many retirees. However, it's essential to weigh both the advantages and potential drawbacks to determine if it's the right fit for your retirement plans.

Pros of Retiring in Virginia

1. Diverse Geography and Outdoor Recreation

From the serene Blue Ridge Mountains to the sandy shores of Virginia Beach, the state boasts a variety of landscapes. This diversity provides ample opportunities for outdoor activities like hiking, fishing, and boating. Areas such as Shenandoah National Park and the Chesapeake Bay are popular among nature enthusiasts.

2. Rich Historical and Cultural Attractions

Virginia is steeped in history, being home to numerous historic sites from the American Revolution and Civil War. Cities like Williamsburg, Richmond, and Charlottesville offer museums, theaters, and cultural festivals that cater to a wide range of interests.

3. Access to Quality Healthcare

The state is home to several top-ranked hospitals and healthcare facilities. For instance, Inova Fairfax Medical Campus has been recognized as the #1 hospital in Virginia by U.S. News & World Report. Additionally, 18 hospitals in Virginia have been ranked among the best in the country.

4. Proximity to Major Urban Centers

Virginia's location offers convenient access to major cities like Washington, D.C., and Raleigh, NC. This proximity allows retirees to enjoy the tranquility of suburban or rural life while still being close to urban amenities and international airports.

5. Moderate Cost of Living

While costs can vary by region, Virginia's overall cost of living index is approximately 100.7, close to the national average. This balance means that, in many areas, retirees can enjoy a comfortable lifestyle without the high expenses found in other East Coast states.

Cons of Retiring in Virginia

1. Variable Housing Costs

Housing affordability in Virginia varies significantly by location. While cities like Lynchburg and Roanoke offer more affordable options, areas such as Arlington and Alexandria have higher average home values. For example, the average home value in Arlington is approximately $839,154, while in Alexandria, it's around $672,709.

2. Traffic Congestion in Northern Virginia

The Northern Virginia region, especially areas close to Washington, D.C., is known for heavy traffic and long commute times. This congestion can be a drawback for retirees seeking a more relaxed pace of life.

3. Exposure to Natural Disasters

Coastal regions of Virginia are susceptible to hurricanes and tropical storms. The Virginia Department of Emergency Management has designated evacuation zones for approximately 1.25 million residents in these vulnerable areas.

4. Higher Taxes in Certain Areas

While Virginia offers tax benefits for retirees, such as no state tax on Social Security benefits and deductions on retirement income, some localities have higher property and sales taxes. It's essential to research specific areas to understand the full tax implications.

5. Humid Summers

Virginia experiences hot and humid summers, particularly in the southern and eastern parts of the state. This climate may not be ideal for retirees sensitive to heat or those with certain health conditions.

Retirement Taxes, Cost of Living & Housing in Virginia

Planning your golden years means more than picking the right view. Your budget, tax situation, and housing options play a huge role. When you retire in Virginia, you’ll find that the financial picture is mixed; some costs are average or below, while others depend heavily on your chosen city.

Retirement Income & Taxes

One of the most common questions is: “How does Virginia treat retirement income?” The answer offers both benefits and cautions:

• Social Security Benefits
  Virginia does not tax Social Security retirement benefits. That’s a major win if you rely on Social Security income for a large part of your monthly budget. 

• Other Retirement Income
  Retirement account withdrawals, like from IRAs or 401(k)s, are considered regular income and taxable at the same income tax rates. However, Virginia allows an age deduction of up to $12,000 per person for those aged 65 and older. 

• Pension Income
  Pensions are also taxable, though the same age-based deduction applies. This gives some breathing room for many retirees.

• Do you have to pay state taxes in Virginia?
  Yes, but with exemptions. Virginia taxes income at a graduated tax rate ranging from 2% to 5.75%, depending on your income level. However, many retirees end up in the lower brackets. 

Property Tax & Housing Costs

When it comes to property tax, Virginia ranks well. The average effective property tax rate is about 0.72% lower than the national average of 0.99%. Virginia also has property tax relief programs for seniors in many counties.

But what about housing itself?

• Affordable Places: Staunton, Winchester, and Lynchburg stand out for low housing costs, good healthcare access, and community vibe.

• Expensive Markets: Expect to pay a premium in Northern Virginia, Arlington, and Charlottesville, where the cost of living exceeds the national average.

According to Zillow, Virginia’s average home value as of 2024 is approximately $372,000. But in Falls Church, it’s over $900,000.

Sales Tax & Everyday Costs

• The base sales tax rate in Virginia is 5.3%, but in some regions, like Northern Virginia and Hampton Roads, local add-ons push it to 6% or more. 

• In terms of total sales tax rates, the state ranks middle of the pack nationwide. That keeps daily spending in line with the national average, depending on your zip code.

• Virginia’s cost of groceries, healthcare, and utilities are generally near the national level. But transportation costs, especially near busy corridors like I-95, can spike.

Is Virginia the Best State to Retire on a Fixed Income?

It depends. Virginia isn't the cheapest, but if you qualify for the age deduction, skip state taxes on your social security benefits, and live in one of the affordable places, your retirement income could stretch further than in nearby states like Maryland or New Jersey.

If you’re considering retiring on a fixed income, Virginia’s blend of tax breaks and affordable regions like Harrisonburg or Smith Mountain Lake make it one of the best places to retire in the Mid-Atlantic region.

Best Places to Retire in Virginia Based on Your Lifestyle

Choosing the right town can make or break your retirement experience. Whether you're drawn to mountain views, coastal living, or walkable cultural hubs, Virginia offers a wide range of options. But your ideal location depends on more than beauty, access to healthcare, affordability, and community all matter.

Nature & Peaceful Living

If you're seeking quiet mornings, clean air, and a slower pace, these towns are great choices:

• Staunton - Nestled in the Blue Ridge Mountains, this small city blends charm, walkability, and low housing costs. It’s also known for its strong local arts scene and access to outdoor recreation.

• Abingdon - A scenic town near the Appalachian Trail with strong ties to the arts and regional culture. Abingdon offers low property tax rates and quiet neighborhoods.

• Smith Mountain Lake - Perfect for retirees who want lakeside peace without going off-grid. It offers affordable homes, access to water activities, and a strong sense of community.

Cultural & College Towns

These popular cities are ideal if you want amenities like dining, healthcare, and vibrant culture scenes:

• Charlottesville - Home to the University of Virginia, this town is filled with historic sites, bookstores, and performing arts venues. It’s walkable and has excellent hospitals, but it comes with higher housing costs.

• Roanoke - Offers the feel of a city with the soul of a small town. Located near the Blue Ridge Mountains, Roanoke combines outdoor access with a growing arts venue scene.

• Williamsburg - Famous for its rich history from the American Revolution, Williamsburg also boasts a mild climate and retirement-friendly housing communities.

Affordable & Medical Access

These cities offer excellent value for retirees who want reliable healthcare nearby and low costs:

• Lynchburg - Known for low housing costs, modest tax rates, and easy access to doctors and hospitals.

• Harrisonburg - Offers low home prices and access to Sentara RMH Medical Center, a top-ranked hospital in the region.

• Winchester - A small, historic city with good walkability, affordable homes, and Valley Health’s flagship medical center.

Coastal Options

• Virginia Beach - It’s one of the best places to retire in the state thanks to its blend of amenities, hospitals, and vibrant community events. But be prepared: housing costs and sales tax rates here are higher than in inland cities.

• Norfolk - Slightly more affordable than Virginia Beach, Norfolk still offers coastal charm, strong healthcare access, and proximity to Chesapeake Bay. Just keep in mind the natural disaster risk from hurricanes.

Areas to Think Twice About

• Northern Virginia - Includes cities like Falls Church, Fairfax County, and Arlington. These areas offer great hospitals and transit, but they come with high housing costs, long commutes, and elevated sales tax rates. They may not suit those looking for quiet retirement living or a modest retirement savings budget.

Final Thoughts 

Retiring in Virginia offers a mix of tax advantages, healthcare access, and diverse living options. The state does not tax Social Security, provides income deductions for seniors, and maintains lower-than-average property tax rates. Its geography ranges from mountains to coastlines, giving retirees varied choices for lifestyle and recreation.

Challenges include high housing costs in some areas, traffic congestion in Northern Virginia, and risks from humid summers or coastal storms. Retirees who match their budget and preferences to the right region can find Virginia a practical and rewarding place to live.

Ready to Retire in Virginia? Let AmeriFreight Car Shipping Get Your Vehicle There

Once you’ve picked the best place to spend your golden years, don’t stress about how to get your vehicle there. Whether you’re relocating to Virginia Beach, the Blue Ridge Mountains, or anywhere in between, AmeriFreight Car Shipping will handle your vehicle with care.

We help retirees across the country move their cars safely and affordably so you can focus on settling into your new home while we handle the road.

Frequently Asked Questions (FAQs)

What are the pros and cons of living in Virginia?

The state offers a mild four-season climate, access to both mountains and coastline, strong healthcare systems, and no state tax on social security benefits. You’ll also find a deep sense of history, numerous museums, and plenty of outdoor activities.

However, housing costs and income tax rates can be high in areas like Northern Virginia. Traffic congestion near Washington, D.C., is among the worst in the country. Coastal regions face occasional hurricanes, and summers across the state can be hot and humid.

At what age do you stop paying state taxes in Virginia?

You don’t automatically stop paying state taxes, but Virginia offers an age deduction of up to $12,000 for people age 65 or older on qualifying retirement income. Social security retirement benefits are not taxed in Virginia.

Does Virginia give seniors a break on property taxes?

Yes. Many counties in Virginia offer senior property tax relief or exemptions. These programs often depend on age, income, and home value. 

Does Virginia get snow?

Yes, but it varies by region. Northern and western Virginia (like the Blue Ridge Mountains) get the most snowfall, averaging 20 to 30 inches per year. Areas like Virginia Beach and the southeastern coast typically see only light snow, if any.

DISCLAIMER: 

This post is here to help you learn and give you general information. It’s not meant to take the place of advice from a doctor, lawyer, or money expert. Everyone’s situation is different, so make sure to talk to a professional you trust before making any big decisions.