2 VA Communities Ranked As Best Places To Retire In 2024: U.S. News

VIRGINIA — Two communities in Virginia are ranked among the 2023-2024 Best Places to Retire, according to a new ranking released Tuesday by U.S. News & World Report.

The new list evaluates the country’s 150 most populous metropolitan areas based on how well they meet Americans’ expectations for retirement, with measures including those on housing affordability, health care and overall happiness.

In Virginia, Richmond ranked No. 31 on the list, while Virginia Beach ranked 41st. Both cities also made the rankings last year.

This year’s list is based on the evaluation of the nation’s 150 most populated metropolitan areas based on how well they meet Americans’ expectations for retirement. Measures used in the evaluation were affordability, health care, desirability, retiree taxes, the job market and overall happiness.

Richmond had an overall score of 6.8, an affordability score of 6.5 and a health care ranking of 6.3.

About Richmond, the editors said: "More than 7 million tourists visit the Greater Richmond region each year to explore its rich American history. Patrick Henry gave his famous "Give Me Liberty or Give Me Death" speech in Richmond's St. John's Church and, as the former capital of the Confederacy, the metro area was at the epicenter of the Civil War. Modern-day attractions can easily be found in the region as well, including world-class museums, a vibrant food scene and an array of entertainment options, from concerts and theater performances to family-friendly festivals.

"The only city in America with whitewater rapids running through its downtown, Richmond is the seat of Virginia's state government. With a range of housing options, the Richmond metro area – which includes suburban areas in the counties of Chesterfield, Hanover and Henrico – appeals to a varied demographic, from young families to retirees."

Virginia Beach had an overall score of 6.7, an affordability score of 6.4 and a health care ranking of 5.9.

About Virginia Beach, the editors said: "Despite Virginia Beach's resort city status, the friendly residents and relaxed atmosphere found here have swayed many to take up a permanent residence in Virginia's largest metro area. The glorious ocean views, beautiful waterfront homes and award-winning restaurants make this vacation destination a place worthy of being calling home.

"The job market in the Hampton Roads region, which encompasses Virginia Beach and nearby Norfolk and Newport News, offers some niche opportunities in both the civilian and government sectors that make moving to the area attractive, from defense contractor positions to hotelier jobs."

Also on the list — Washington, D.C., ranked No. 52. DC had an overall score of 6.7, an affordability score of 3.9 and a health care ranking of 7.7.

Pennsylvania dominated the top five in this year’s list and had seven metro areas in the top 10. Cities in the top tier are:

1. Harrisburg, Pennsylvania
2. Reading, Pennsylvania
3. Allentown, Pennsylvania
4. Scranton, Pennsylvania
5. New York City
6. York, Pennsylvania
7. Daytona Beach, Florida
8. Youngstown, Ohio
9. Pittsburgh, Pennsylvania
10. Ann Arbor, Michigan

Record-high interest rates in the housing market, inflation and extreme weather patterns all figured into retirees’ choices on where to live, Beverly Harzog, personal finance expert at U.S. News, said in a news release.

“As retirees consider where to spend their golden years, they want areas that not only give them the best bang for their buck, but places where they can live a happy, healthy life,” Harzog said. “This is why Pennsylvania dominated the Best Places to Retire ranking’s top positions. …”

Florida also ranked high as a desirable place to retire, with six metro areas in the top 25. Also notable:

• Adjustments made for affordability and retiree taxes allowed Winston-Salem, North Carolina, to move up 19 spots to No. 17;
• Trenton, New Jersey, moved up 25 positions to No. 29; and
• Rochester, New York, moved up 29 positions to No. 21.

Affordability is the most heavily weighted of the six factors used to rank the 2024 Best Places to Retire. Data points were expended to better encapsulate a place’s strengths and weaknesses. The results are also based on a survey to determine if people want to retire to a given metro area.