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Emma Caplan-Fisher
Updated Jul 28, 2026
A John Burns Research and Consulting study found West Virginia and South Carolina have emerged as retiree hot spots, both with property tax rates under 0.5%.
Retiring somewhere new means rethinking your whole financial plan. Consider speaking with a vetted financial advisor through WiserAdvisor to map out your next steps.
With fewer income opportunities in a new locale, it helps to lock in guaranteed growth. Gainbridge lets you earn up to 5.45% on a fixed annuity with just a $1,000 minimum to start.
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.
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%.
Here’s what they offer and what retirees should consider.
West Virginia
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 Priority Gold.
Gold IRAs allow investors to hold physical gold or gold-related assets within a retirement account, which combines the tax advantages of an IRA with the protective benefits of investing in gold, making it an attractive option for those looking to potentially hedge their retirement funds against economic uncertainties.
To learn more, you can get a free information guide that includes details on how to get up to $10,000 in free silver on qualifying purchases.
Of course, no retirement destination is perfect. Challenges in West Virginia include access to health care facilities in rural areas, colder winters with significant snowfall and fewer job opportunities for retirees to supplement their fixed income.
With fewer ways to supplement income through work, some retirees turn to other sources to help stretch a fixed income further.
A fixed annuity from a provider like Gainbridge is one option worth understanding. Fixed annuities are designed to offer principal protection while generating a set rate of return over a defined term.
Gainbridge currently offers rates up to 5.45%, higher than the national average CD rate. Terms range from 3 to 10 years, with a $1,000 minimum to open.
Unlike many CDs, Gainbridge allows withdrawals of up to 10% of the account balance each year without a penalty. As with any annuity product, it's worth reviewing the fee structure and any surrender charges that may apply outside that withdrawal allowance.
Those interested can answer a few questions to see current rates and complete setup online.
South Carolina
South Carolina's affordability has improved since 2023, moving up six spots in Bankrate’s study from the previous year. However, the overall cost of living remains above average, at about 95.9% of the national mark.
Utility costs contribute to the higher expenses, while housing remains affordable. House prices vary by region, but the state’s average home value is around $303,1260 — about 21% below the U.S. average.
What makes South Carolina stand out is its tax structure. There's no estate tax, Social Security benefits aren't taxed and 401(k) and IRA withdrawals are only partially taxed.
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 appeal to many, retirees should consider the region’s hot summers (with July highs of 89°F), as well as the risks of hurricanes and flooding.
Another potential drawback is the state's relatively high health care costs, ranking 33rd in the study. It’s worth considering how to decrease costs on other essentials to compensate for that.
That kind of cost gap is exactly what long-term care insurance is designed to address. Long-term care insurance offers coverage for the costs of in-home assistance, nursing homes or assisted living facilities.
Without proper planning, paying for long-term care could deplete your retirement fund. In many cases, the burden of paying for care often falls on family members – potentially straining their finances.
When considering long-term care insurance, GoldenCare offers different options based on your needs, including hybrid life or annuity with long-term care benefits, short-term care, extended care, home health care, assisted living, and traditional long-term care insurance.
If your health is excellent, you may be able to cover your health care expenses with relative ease. If you have multiple health issues, it's a good idea to stockpile extra cash in case your bills start to mount at a time when it's not advantageous to tap your investments.
Other ways to cut down costs on essentials, like home and auto insurance, can also help offset some of these added health care expenses.
For example, Insurify makes comparing multiple insurance companies easier than ever. They’ll ask you some quick questions then sort through leading insurance companies in your area, ensuring you find the lowest rate possible.
The process is 100% free and won't affect your credit score. Plus, you could save up to 15% by bundling home and auto coverage together.
Talk to a financial advisor
At the end of the day, there are plenty of factors to consider before you up and move for your retirement.
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.
To figure out the best decision for your personal circumstances, it might be worth consulting with a financial advisor.
With Advisor.com, you get a trusted partner that’s with you every step of the way in your retirement journey.
The platform matches you with vetted financial advisors that offer personalized advice to help you to make the right choices, invest wisely, and secure the retirement you've always dreamed of. Start planning early, and get your retirement mapped out today.
For retirees with portfolios of $250,000 or more, financial decisions often become increasingly nuanced.
Managing withdrawals, minimizing tax exposure, and ensuring long-term sustainability often requires greater coordination and strategic planning.
Platforms like
can connect you with vetted professionals who specialize in this kind of planning.
Simply answer a few questions about your savings, retirement timeline and overall investment portfolio.
From there, WiserAdvisor reviews its network to match you — for free — with up to three vetted, reputable advisors aligned with your specific needs.
You can then schedule no-obligation consultations with your matches to determine who is the best fit for your long-term goals.
Note: WiserAdvisor is a matching service and does not provide financial advice directly. All matched advisors are third parties, and specific financial results are not guaranteed.
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Emma Caplan-Fisher
Contributor
With a writing and editing career spanning over 15 years, Emma creates and refines content across a broad spectrum of industries, including personal finance, lifestyle, travel, health & wellness, real estate, beauty & fitness and B2B/SaaS/tech.
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