This Southern U.S. State Is One of the Best Places to Retire for Its Cost of Living — and No, It’s Not Florida or a Carolina

With its year-round warm weather, famous hospitality, coastal communities, and culinary heritage, the South has always been a popular retirement destination for American seniors. While Florida continues to be the most sought-after state for those 65 and over, if low cost of living is a priority, consider relocating to Georgia.

Bankrate recently named it the third-best state for retirement, analyzing data on living costs, healthcare, overall well-being, weather, and crime rates.

“The Peach State has become significantly more affordable since last year, pushing it up from 15th place to third place on our ranking,” the report stated. “That’s primarily because Georgia’s cost of living has come down significantly, and average homeowners insurance premiums have dropped slightly.”

According to Zillow, the state’s median home value is $333,862, which is about $30,000 lower than the national median. Cities like Statesboro, Augusta, and Dublin rank among the most affordable communities in Georgia. Niche.com highlights Avondale Estates near Atlanta, Simons, and Clarkesville as some of the best places to retire in the state, all earning excellent overall scores of A- or above.

The Peach State is also very tax-friendly to its senior citizens. It doesn’t tax Social Security benefits, and residents pay no inheritance or estate taxes. There are also numerous tax breaks for seniors, such as deductions of up to $65,000 on taxable income, from which even those who live part-time in Georgia can benefit.

However, keep in mind that Southern states are some of the most expensive when it comes to health care, and Georgia is no exception, ranking eighth in a recent survey.

But seniors are still drawn to its charming communities, which span small towns in the Blue Ridge Mountains and stunning barrier islands. As a mid-sized state, Georgia is easily accessible — it takes a little over three hours to cross the state from east to west and five hours from north to South. Georgia is also home to the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport, which connects the state to over 230 destinations. 

In Bankrate’s ranking of the best states for retirement, Delaware and West Virginia rank first and second, respectively, while California, Washington, and New York rank last.

You can read the full report on bankrate.com.