This Emerging U.S. City Is One of the Best Places to Retire for Affordable Housing, Health Care, and Low Taxes

As the song goes, West Virginia is almost a haven for its natural beauty. But recently, the Mountain State has made headlines with its appeal to newcomers, especially retirees, who flock here to take advantage of affordable living and inexpensive real estate.

In October, Investopedia published the results of a survey that focused on the best places to retire in the South, and West Virginia's capital came in third. According to the publication, residents benefit from big city perks, including "having access to the best health care and hospitals in the state, a vibrant downtown, an arts and culture scene, and lots of activities for outdoor enthusiasts."

However, Investopedia identified the city's affordability as a main draw for those 65 and over, who account for 20 percent of the population here. So, how cheap exactly is life in Charleston?

According to Zillow, the median home value is $156,701 (the current national median sale price is $420,400), and the cost of living is 16 percent lower than the national average. Even if property investment is not part of your retirement plans, renting is equally affordable. Investopedia reported that the median rent is $870 per month, which is about 18 percent of the monthly income there. According to data from this year's America Health Index, West Virginia and Alabama have the lowest housing burden for seniors in the country.

West Virginia's tax friendliness is another reason to consider spending your golden years here. This year, the state decided to gradually stop taxing Social Security benefits, but retirement income continues to be charged between 2.36 percent and 5.21 percent. However, property and sales taxes in West Virginia are low.

Charleston seniors also have access to two of the best hospitals in the state: the Charleston Area Medical Center and Thomas Memorial Hospital in South Charleston.

The city, which sits at the confluence of the Elk and the Kanawha rivers, is surrounded by the lush Allegheny Mountains, offering plenty of opportunities for staying active and outdoor recreation. Kanawha State Forest, which is a short drive away from the city, has over 60 miles of hiking and biking trails in addition to campsites, fishing, horseback riding, and hunting facilities.

Hot Springs, Arkansas, topped Investopedia's list, followed by Englewood, Florida.

Earlier this year, the financial website GoBankingRates published a survey of the most affordable, underrated cities in the South to retire, among which were many Texas communities.

You can read the findings of Investopedia's report on investopedia.com.

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