Bankrate evaluated states across cost of living, taxes, health care, weather, crime, culture, and well-being.
Cost of Living and Taxes
Maryland’s cost of living is 4.4% higher than Virginia’s, contributing to its lower ranking for retiree-friendliness. Additionally, state income tax, which can be avoided in Virginia, cannot be avoided in Maryland. Virginia also does not have local income taxes, whereas Maryland does.
Tax Considerations for Retirees
Overall, Virginia is more tax-friendly than Maryland for retirees.