Population: 1.8 million
Share of population 65+: 17.8%
Cost of living: 17% below the U.S. average
Average income for 65+ households: $40,109
Average health care costs for a retired couple: Below average at $404,606
Tax rating for retirees: Not Tax Friendly
Despite its below-average living costs, the Mountain State offers some rocky terrain for retirees. Retirement income, including Social Security, is taxed to the same extent as it is on your federal form—though the first $8,000 is exempt. And given the state’s fiscal health, its tax situation is unlikely to get friendlier: According to a recent report from the Mercatus Center at George Mason University, West Virginia ranks as the ninth-worst state in terms of fiscal soundness.
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The state also scores poorly for the health of its 65-and-over population, ranking 45th in the country, according to the United Health Foundation. While 64.6% of older adults nationwide are considered able-bodied, only 56.6% of those in West Virginia can say the same—the worst in the U.S.
