Advertisement
retirement

Columbia, S.C.: A Great Place to Retire for Your Health

South Carolina’s capital attracts people who love art, culture and college sports, and the state is a tax-friendly place for retirees.

While it’s known for its old-fashioned southern hospitality, Columbia is in the midst of an economic and cultural renaissance. Couple that with a below-average cost of living, affordable housing and low state taxes, and it’s no surprise that a growing number of retirees from the Northeast and Midwest are skipping the move farther south and choosing to live here. Columbia is one of 10 small or midsize cities we found that offer first-class health care.

Columbia stats

Population: 133,100

Advertisement - Article continues below

What $300,000 will buy: 3-bedroom, 3-bath, single-family home

Best place to exercise: Riverfront Park

5-star hospital*: Lexington Medical Center

Home to the state capital and the University of South Carolina, Columbia offers a little bit of everything, including a ballet, a symphony orchestra and the Columbia Museum of Art. Sports fans can cheer USC’s Gamecocks football team at Williams-Brice Stadium, or watch the minor-league Fireflies play at the Spirit Communications ballpark. Columbia has three top-rated hospital systems, in addition to a Veterans Affairs hospital and a university medical research center.

Housing options range from homes near Lake Murray in West Columbia, where a four-bedroom, 2,400-square-foot house goes for about $235,000, to midrise condos at the trendy Vista quarter downtown, where a two-bedroom unit in a luxury building costs about $270,000. For retirees who would rather rent, two-bedroom townhouses and condos are available for about $1,000 to $1,500 a month.

Starting in 2019, residents age 55 and up can move in to the Merrill Gardens at BullStreet, a 196-unit apartment community located next to Spirit Communications ballpark. The 181-acre development will include a 20-acre park and the TownPark complex, with luxury townhomes priced at $467,000 and up.

South Carolina is tax-friendly for retirees. Social Security benefits aren’t taxed, and the state provides a generous deduction for other types of retirement income.

* Rating developed by the Centers for Medicare and Medicaid Services.

Advertisement
Advertisement

Most Popular

11 Dividend-Paying Stocks You Should Think Twice About
dividend stocks

11 Dividend-Paying Stocks You Should Think Twice About

Dividend-paying stocks often can be a store of safety, but 2020 has been difficult on income equities. These 11 picks look like shaky plays despite th…
September 21, 2020
Medicare Basics: 11 Things You Need to Know
Medicare

Medicare Basics: 11 Things You Need to Know

There's Medicare Part A, Part B, Part D, medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare --…
September 16, 2020
How To Buy a Roth IRA When You Make Too Much To Qualify For One
Roth IRAs

How To Buy a Roth IRA When You Make Too Much To Qualify For One

With their tax-free growth and tax-free withdrawals, Roth IRAs are a great deal — if you qualify. If you don’t, well, there’s still a way to get into …
September 23, 2020

Recommended

HSA Limits and Minimums
health savings accounts

HSA Limits and Minimums

Annually adjusted contribution limits and other requirements must be met if you're covering health care costs with a Health Savings Account.
September 21, 2020
Don’t Be Paralyzed by Uncertainty
retirement planning

Don’t Be Paralyzed by Uncertainty

You definitely need a plan, because what’s ahead could be scarier than what’s behind us.
September 21, 2020
Insurance for Long-Term Care at Home
retirement

Insurance for Long-Term Care at Home

In the wake of COVID-wracked nursing homes, increasingly more people are looking at options to age in place with long-term care insurance.
September 17, 2020
Medicare Basics: 11 Things You Need to Know
Medicare

Medicare Basics: 11 Things You Need to Know

There's Medicare Part A, Part B, Part D, medigap plans, Medicare Advantage plans and so on. We sort out the confusion about signing up for Medicare --…
September 16, 2020