Senior Advice's Guide to Assisted Living in Virginia
Assisted Living in Virginia
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Based on U.S. census data, the Weldon Cooper Center for Public Service at the University Virginia projects that seniors will make up 18.3% of the state's population by 2040, an increase from 15.4% in 2019. Many seniors choose to retire in Virginia because there's no state tax on Social Security benefits. Virginia also offers seniors a $12,000 tax exemption on some forms of retirement income. These tax benefits, along with easy access to the nation's capital, an abundance of fresh seafood and several nationally ranked hospitals, make Virginia a desirable place to retire.
According to the Genworth 2019 Cost of Care Survey, assisted living facilities in Virginia cost an average of $4,800 per month, which is approximately 18.4% more expensive than the national average of $4,051.
This guide provides an overview of how much seniors can expect to pay for assisted living and other types of care in Virginia. It also contains information on programs that may make assisted living more affordable for seniors.
Senior Advice's Guide to Assisted Living in Virginia
Virginia currently has a SeniorScore of 78%, which is higher than the national average of 72%. The SeniorScore metric indicates how well an area accommodates the needs of seniors. It's based on 100 data points across four categories: recreation and leisure, health and safety, finances and overall quality of life.
Virginia received a score of 72 for General Quality of Life, which is higher than the scores of all nearby states. The state scored well on this metric due to its temperate climate and high-quality schools.
Although some areas of Virginia have a high cost of living, the state received a score of 75 for Finances. In Virginia, sales and property tax rates are both below the national average. The state also has an average household income of $86,407 per year, which is more than $20,000 higher than the national average of $64,580.
Another reason Virginia received a high score for Finances is because the state unemployment rate is lower than the national average, while the median annual household income and per capita income are higher than the national averages.
See the full article here including the Top Assisted Living Facilities in Virginia
https://www.senioradvice.com/assisted-living/virginia
https://www.senioradvice.com/assisted-living
Source: https://www.senioradvice.com/