25 Most Affordable Places To Retire Includes 2 VA Cities: Forbes

VIRGINIA — Two cities in Virginia have been named to Forbes’ ranking of the 25 Best Places to Retire in 2025.

Virginia Beach ranked 24th and Winchester ranked 25th among the 950 localities Forbes compared on how well they meet the needs of older Americans.

The cost of housing was the primary factor in determining the ranking, Forbes said, citing National Association of Realtors data showing that since 2020, the median price of single-family homes nationwide has jumped 50 percent to $404,000.

Here is what Forbes had to say about the two Virginia cities on its list:

Virginia Beach, Virginia

Forbes described Virginia Beach as the Commonwealth's largest city, situated on the Atlantic Ocean at the mouth of Chesapeake Bay, with a median home price $404,000. Its selling points include good air quality, comfortable climate and being a fairly bike-friendly city.

The median home price of $404,000 matches the national median. The editors noted its "very low serious crime rate," and said Virginia City has an adequate ratio of primary care physicians per population. The state income tax rate tops out at 5.75% for couples with taxable income at just $17,000, but no state tax on Social Security, estates or inheritances.

The negatives include that it is not very walkable, Forbes said.

Winchester, Virginia

Forbes described Winchester in the Shenandoah Valley as outdoorsy and very walkable, with a laudable median home price of $382,000, 5% below the national median.

Other praise noted its outstanding ratio of doctors per capita, and a serious crime rate below the national average.

The state income tax rate tops out at 5.75% for couples with taxable income at just $17,000, but no state tax on Social Security, estates or inheritances, editors said.

The negatives include that it is not very bikeable, Forbes said.

Median home values are below the national median in 22 of the 25 cities, which Forbes said was by design. Four of them — Iowa City, Iowa; Lincoln, Nebraska, Pittsburgh, Pennsylvania; and San Antonio, Texas — have median values under $300,000.

Housing costs are higher than the national median in three of the cities on the list. The most expensive is Raleigh, North Carolina, with a median home cost of $440,000, which is 9 percent above the national median. The others are Madison, Wisconsin, a college town and the state capital, with a median home price of $408,000, about 1 percent above the national median. Pasco, Washington has a median home price of $406,000.

Median home prices in The Villages, Florida, are at the national median of $404,000.

Overall, the list features cities in 19 states in all four domestic time zones. Known for its frigid winters, Fargo, North Dakota, has been on the list in each of the 15 years since Forbes launched it. Pittsburg, Pennsylvania, which also has chilly winters, has been on the list 13 of the 15 years.

Forbes also looked at state tax rates, prospects for the local economy, air quality, serious crime, the availability of primary health care doctors, and how well they encourage an active lifestyle by making it convenient to walk or bike.

Since 2000, Forbes has also looked at the risks posed by natural disasters and climate change. Cities at substantial risk, as measured by the Federal Emergency Management Agency, were not considered, the news outlet said.

Here’s the full ranking:

1. Apache Junction, Arizona
2. Athens, Georgia
3. Bethlehem, Pennsylvania
4. College Station, Texas
5. Columbia, Missouri
6. Fargo, North Dakota
7. Greenville, South Carolina
8. Iowa City, Iowa
9. Lawrence, Kansas
10. Lexington, Kentucky
11. Lincoln, Nebraska
12. Madison, Wisconsin
13. Newark, Delaware
14. Pasco, Washington
15. Pittsburgh, Pennsylvania
16. Raleigh, North Carolina
17. Rochester, Minnesota
18. San Antonio, Texas
19. Savannah, Georgia
20. Sioux Falls, South Dakota
21. Spokane, Washington
22. Tucson, Arizona
23. The Villages, Florida
24. Virginia Beach, Virginia
25. Winchester, Virginia