9 Cost-Effective Towns In Virginia For Retirees

Considering how money is increasingly becoming hard to come by, it does not make sense to splurge $900,000 on a decent and livable house. Fortunately, the median home listing price in Virginia for October 2024 was just $440,527. Of course, you can find several towns with home listings below this price point. Plus, Virginia does not tax Social Security benefits. It also maintains low property and sales tax rates. Still, you want to be close to a good hospital and have access to other crucial amenities. From Bristol to Bridgewater, discover below nine cost-effective towns in Virginia for retirees.

Bristol

In October 2024, the median listing home price in Bristol was $273,700, a price point that is hard to find in Virginia. Bristol is known as “The Birthplace of Country Music” and boasts several sites and festivals that keep its music legacy alive. These include the Birthplace of Country Music Museum, the Bristol Rhythm & Roots Reunion (this is one of the largest musical festivals in the Southeast), and the 93-year-old Paramount Bristol, the area’s premier performing arts center. Remember, Bristol, Virginia and Bristol, Tennessee are virtually two cities in one, so you can enjoy living in two states. You can paddleboat at Steele Creek Park, enjoy afternoon rounds of golf at the Clear Creek Golf Club, or swim at the South Holston Lake — all without worrying about healthcare access, especially because Bristol Regional Medical Center is at your doorstep. Finally, 29% of Bristol residents are empty nesters aged 60 and above, implying the presence of a sizeable support network.

Radford

Radford hosts the 114-year-old Radford University, so if you want to retire in a vibrant college town, you should pay attention to Radford. The median listing home price in Radford was $315,500 in October 2024, which comes with access to the programs provided by the Radford Senior Center, including fitness classes and monthly van trips; ready access to Claytor Lake, where one can swim or fish — and the New River. There are many parks to relax and while away time, events that celebrate Radford’s Scottish roots, and, of course, the Mary Draper Ingles Trail, which honors the courage and resilience of a heroic woman and her companion, especially in the face of forbidding circumstances. Moreover, the award-winning Carilion New River Valley Medical Center is a heartbeat away in Christiansburg. Although there is a big population of youth here — which is not a bad thing anyway — seniors aged 60 and above still comprise a modest 12% of the population.

Staunton

In October 2024, the median listing home price in Staunton was $330,000. Called the “Queen City of the Shenandoah,” this storybook town will easily meet the expectations of a retiree. It is close to Charlottesville, which hosts one of Central Virginia's oldest and largest farmers markets. Staunton has many restaurants that are ideal for a spontaneous brunch, several historic sites, including the birthplace of President Woodrow Wilson, and numerous parks and green spaces. For example, you have access to the Shenandoah National Park and the nearby Monongahela National Forest. Don’t worry about healthcare access, either. Augusta Health, which is next door in Fishersville, is ranked among America’s 50 Best Hospitals for Surgical Excellence. Finally, 27% of Staunton residents are empty nesters aged 60 and above.

Abingdon

From Barter Theatre to the 175-year-old Virginia House to The Martha Washington Inn, whose guest list has names such as President Franklin D. Roosevelt and Elizabeth Taylor, Abingdon’s Historic District is one of a few that is noticeably frozen in time. It is the place to retire, especially if you love the nostalgic appeal of old things and places. The median listing home price in Abingdon was $348,500 in October 2024. South Holston Lake is just a hair out of town, the award-winning Johnston Memorial Hospital is at your doorstep — and you have the Virginia Creeper, considered one of the best bike trails in the nation. The social landscape is also spot-on, especially because pensioners aged 60 and above comprise 31% of the population.

Woodstock

The median listing home price in Woodstock was $349,900 in October 2024. Woodstock is a neat town that boasts the oldest working courthouse west of the Blue Ridge Mountains. From the breathtaking beauty of the Seven Bends State Park to some of Virginia’s most panoramic views at Woodstock Tower, this beautiful town is an outdoor lover’s dream. There is the charming farmhouse on the Muse Vineyard property, which can be a convenient romantic escape, the 73-year-old Shenandoah Memorial Hospital, and Adam's Apples & Herbs, loved for its fresh selection of vegetables and fruits. Woodstock is fairly diverse, especially because Hispanics constitute 19% of its population. Plus, about 1 in 4 residents are aged 60 and above.

Strasburg

As a retiree, what you want is to be sitting out on the porch sipping coffee, occasionally opting for a mid-week brunch in a fantastic local restaurant, and cracking jokes with residents during community events and festivals. Fortunately, Strasburg offers just this kind of life. There is the Strasburg Mayfest, a family-friendly event that enlivens the town during the second weekend in May; Strasburg River Walk, a tranquil stretch perfect for soaking up some calm and quiet; the North Fork of the Shenandoah River, and Star in the Valley Estate Winery, beautifully perched at over 1,000 feet high with jaw-dropping views to boot. The median listing home price in Strasburg was $319,900 in October 2024, a budget-friendly price point that comes with access to the nearby Warren Memorial Hospital. Finally, 22% of Strasburg residents are 60 years old and above.

Bridgewater

Bridgewater is safe, quiet, and small, so if you are looking for these features, you should start putting your plans in motion. In October 2024, the median listing home price in Bridgewater was $377,500. Bridgewater has a theater, which is still fairly brand-new (it opened in 2019), a miniature golf course (the well-maintained Bridgewater Mini-Golf at Sandy Bottom Park), and is close to the breathtaking Shenandoah National Park, known for some of the most panoramic views in the eastern states. The award-winning Sentara RMH Medical Center is next door in Rockingham, and a private liberal arts college is right in town. On the social side, Bridgewater residents aged 60 and above comprise 24% of the population, meaning almost 1 in 4 is a fellow empty nester.

Winchester

Winchester, known for its crowd-pulling Shenandoah Apple Blossom Festival, has of late been getting a lot of rave reviews in the retirement landscape. For example, Reader’s Digest in March 2024 ranked it among the 10 Best Small Towns in America to Retire. Its location is perfect: just 65 miles west of Washington, D.C. There is the Rock Harbor Golf Course and many more within a short drive from town, several museums, including the Wartime home of Stonewall Jackson in the early 1860s — and Sharp Shopper Grocery Outlet — which meets almost all the shopping needs of residents. In October 2024, the median listing home price in Winchester was $430,500, which is still lower than the state median. Don’t even mention healthcare access, so long as Winchester Medical Center is in town. This medical facility has bagged several awards, including America’s 50 Best Hospitals for Cardiac Surgery Award. Moreover, 23% of Winchester residents are fellow empty nesters aged 60 and above.

South Boston

A retiree here has the Dan River flowing through the town, houses selling at a median listing price of just $220,000, and the 71-year-old Sentara Halifax Regional Hospital. Then there is the Commonwealth Senior Living at South Boston, which is incredibly clean, comfortable, and perfect for those seeking assisted living. If you are keen on South Boston’s outdoor offerings, Staunton River State Park, with its 1930s cabins, is ideal for stargazing and enjoying the incredible beauty of nature. But there’s also Buffalo Park and Campground, so you know you are not short of options — and Banista Lake. Finally, 28% of South Boston residents are 60 years old and above, meaning one will easily find folks in the same age bracket.

The Takeaway

Retirement is a time to reward yourself. You have been squeezed by inflexible schedules, suffocated by toxic workplaces and bosses, endured early-morning traffic nightmares, and woken up when you had scarcely slept. No wonder it is one's golden years. Still, you have to be realistic, especially with finances. While it's good to have a town with a historic theater, a college campus, or a good shopping venue, you also need a location you can afford. Fortunately, Virginia, with its relatively low home listing prices, is just such a state. Ready to hit the ground? The towns highlighted here are some of Virginia's most cost-effective.