On this ranking you can find places where median home price does not exceed $150,000 and where healthcare costs are from 12% to 1% below America’s average. All of the ranked states are tax friendly toward retirees – seniors do not have to pay taxes on money coming from social security while others types of retirement income are completely or partly exempt from taxation. Moreover, in many of them property and sale taxes are below the national average. Although low costs of living go with fuller wallet they do not guarantee high quality of life. Insidermonkey experts made a list of the 16 cheapest states to live in the US for seniors.
We have picked one state from their list. South Carolina. It has the highest health care costs and third highest real estate prices on this ranking. Still, compared to many other places in America, Palmetto Sate is pretty affordable, especially if we take into account taxation. The state does not tax social security income, while pensions, both private and public, are partly taxed. Moreover, the state has very low property taxes (for $100,000 home value owners pay around $570). There are a few things that attract retirees to SC – slow pace of life, beautiful nature and sandy beaches, mild winters. You can also check our list of 15 Cheapest Places to Live in the World on the Beach.
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