October 2nd 2024
By Jordan McElwain
With year-round warm weather and a mix of waterfront and city living, retiring in Georgia has its perks! Learn about the pros & cons of retiring in Georgia.
While states like Florida, California, and Arizona come to mind as some of the most popular states to retire to, every state has its perks for retirement. Georgia may not come to mind right away as a popular retirement state. That said, it is home to many retirees, probably due to a low cost of living and warm weather.
In this guide, we’ll share important information about retiring in Georgia, including the main pros and cons, how retirement taxes work, and what the healthcare landscape is like for seniors.
Georgia’s average retirement age is 63.
14.7% of Georgia’s population is over 65, but that number is expected to grow in the coming years.
Georgia has a low cost of living compared to much of the US.
The climate is mild in the winter, but can get very hot and humid in the summer—much like its neighboring state, Florida.
Access to good healthcare is a problem in some parts of Georgia, particularly more rural areas.
Not everyone wants the same things in retirement, and each state has something different to offer. If you’re thinking about retiring to Georgia, you should get to know the pros and cons to decide if it’s a good place for your desired retirement lifestyle. Below we’ll highlight the biggest pros and cons of retiring in Georgia.
Georgia’s cost of living is lower than many other states.
The weather in Georgia is generally mild, especially in the winter.
Georgia is a great place for outdoor activities. It’s also home to many museums and historic sites.
Housing in Georgia is particularly affordable.
Traffic can be bad in cities and there is little public transportation.
Summers are often very hot and humid.
Hurricanes and tornadoes can be dangerous in some parts of the state.
Access to healthcare in rural areas can be limited.
Georgia does not tax Social Security or railroad benefits. All other forms of retirement income, like pensions and 401(k)s are taxed. However, Georgia offers a retirement income tax deduction for people over 62. People who are 62-64 years old can apply the deduction to up to $35,000 of retirement income. For those who are 65 and older they can apply the deduction for up to $65,000 of retirement income. If you’re married, both you and your spouse can qualify for the deduction if you file taxes separately.
For general income tax, Georgia used a graduated income tax rate until 2024, at which point, it switched to a flat tax of 5.49%.
Georgia has plenty of retirement communities to choose from. There are currently 676 in the state. To choose the right retirement community, think about where you want to live first. Then, consider the lifestyle you want to live, the level of care you wish to receive, and the services and activities you’re interested in. Many people choose to live in communities with activities and organizations that can help them build connections.
Everyone has their own idea of what they want retirement to look like. Some people want to live close to cities for convenient access to restaurants and community. Others prioritize waterfront living above all else!
Below are some of Georgia’s cities that have become particularly popular among retirees.
North Decatur is only 7 miles from Atlanta and offers many parks and restaurants.
Dutch Island, near Savannah, is close to beaches making it perfect for those who enjoy spending time on the water. 28% of Dutch Island’s population is over 65.
Adairsville, halfway between Atlanta and Chattanooga, has attracted many seniors who are interested in small town living—which comes with local parks, and local shops.
Savannah combines low housing costs with famous architecture and waterfront areas.
Georgia’s a coastal state in the southeast—which means the summers are going to be hot and humid! That said, the winters are mild, which is a major attraction for retirees. Rain is common in all seasons, and snow is rare. While harsh winters aren’t a concern, hurricanes and tornadoes are. Especially recently, hurricanes have become more of a concern for Georgia residents.
Georgia’s year-round warm temperatures, paired with diverse landscapes make the state a great place to enjoy the outdoors. The famous Appalachian Trail begins on Springer Mountain in Georgia. The state is also home to 11 national parks, including the Civil War prison site Andersonville. While Georgia isn’t known for its beaches, as a coastal state, it has plenty! Whether you enjoy casual walks on the beach or adventurous water sports, Georgia has plenty of water activities for retirees who move there for the coast. Georgia’s cities also offer space for outdoor activities. Atlanta has converted 33 miles of former railroad tracks into a hiking trail known as the BeltLine.
One of Georgia’s biggest attractions is its low housing costs. The average house in Georgia costs $306,113. The current national average is $362,481. Property taxes are also low. While taxes will vary between counties, the average is .81%.
Almost every other cost of living is lower in Georgia. Utility costs are 13% lower than the national average, food bills are 4% less, and transportation costs are 4% less. Healthcare is the only cost that is higher than the national average.
Georgia’s state sales tax is 4%. Some areas or counties have additional taxes that may increase your total tax. Some healthcare items, like prescription drugs and some medical equipment are not taxed.
Georgia's Department of Human Services has a Division of Aging Services that offers several resources to its aging population. This Division aims to support older adults, their families, and their caregivers by providing community services, support for elder abuse, and various dementia and mental health resources.
The Good Pill Pharmacy is a Georgia nonprofit that can help you reduce your prescription drug costs. The organization asks patients to pay $6 for a 90-day supply of most generic medications.
Georgia’s Aging and Disability Resource Center partners with organizations to provide support for older adults and people with disabilities. Benefits include long-term care services, respite care, home-delivered meals, and help with utility bills.
You can find many more great resources on the Georgia Council on Aging website.
The United Healthcare Foundation rates Georgia as 39th out of the 50 states for overall health of seniors. Notably, the prevalence of depression in older adults has increased in recent years. From 2021 to 2022, it increased 29% (from 11.4% to 14.7%).
While the health of seniors in Georgia is relatively low, compared to the rest of the US, there are many good hospitals in the state. Emory University Hospital, located in Atlanta, was rated one of the top 50 hospitals in the state by Healthgrades. It also received awards for its stroke care, critical care, and gastrointestinal surgery services. Piedmont Hospital, also in Atlanta, won awards for coronary care and heart bypass surgery.
Georgia has 1.8 million people on Medicare. Like all Medicare beneficiaries, Georgia residents have options. 59% are enrolled in one of 102 Georgia Medicare Advantage plans. The other 41% are on Original Medicare and may also have Medicare Supplement coverage and Medicare Part D coverage.
Below are some resources to help you determine when to enroll in Medicare and which coverage is best for your unique needs.
If you’re looking for a warm state to retire in, want a lower cost of living than California, and are worried about the increasing number of strong hurricanes that are hitting Florida, Georgia may be a good place for your retirement. If you’re interested in retiring in Georgia, plan a trip to explore one or two cities of interest. It might be a good idea to visit in the summer to get a good idea of what the hot and humid weather feels like.
