Is Richmond, Virginia a good place to retire? If you’re looking for a mid-sized city with a small-town feel and all the perks you’d expect to find in a big city like a variety of cultural amenities and entertainment options, then, yes, Richmond might be a good place to consider for your retirement.
Here’s everything you need to know before moving to the city:
Richmond Cost of Living
According to Best Places, Richmond’s cost of living is 4.8% lower than the national average and 8.6% lower than Virginia’s average. So, Richmonders can expect to spend less on everyday necessities like utilities, groceries, and transportation as well as health care needs.
They can also plan to spend less when purchasing a home. The city’s median home price is $327,100, which is 3.3% less than the U.S. average and 4.7% lower than the state’s average. Regarding taxes, Virginia is considered a tax-friendly state for retirees and does not tax Social Security benefits. Pensions, IRAs, and 401(k)s are taxable, but retirees 65+ can qualify for an age deduction up to $12,000.
Richmond Climate: Mild With Seasons
Richmond has a humid, subtropical climate and experiences all four seasons. Summers are hot and humid with average temps ranging from 65° to 88°,while winters are cold with temperatures between 30° and 50°. Residents can expect to get some snow and winter weather. February is normally the snowiest month of the year with an average snowfall of 4.7 inches, according to Weather Spark. The trade off for hot summers and cold winters are balmy days during the fall months and warm, comfortable temps during the spring.
Richmond Outdoor Recreation: Fun for Everyone
With comfortable weather most of the year, Richmonders can make the most of all the outdoor recreation options and activities the city has to offer — and there are plenty to choose from.
Ranked as one of the top gardens in America, the Lewis Ginter Botanical Garden has always been a favorite outdoor destination for Richmonders — especially during the holiday season when the garden transforms into a winter wonderland with millions of twinkling lights. Want to meander through several of Richmond’s best gardens? Spend the day on The Richmond Garden Trail, which visits 10 of the city’s prettiest gardens that are all within 10 miles of each other.
The city also has plenty of scenic parks and green spaces to visit. Maymont Park, Byrd Park, Belle Isle, and Brown’s Island are all popular public parks for locals who want to spend some time outdoors without going too far.
Like to hike or bike? There are several great trails to explore in the Richmond area. The Virginia Capital Trail spans 52 miles and runs all the way from Richmond to historic Jamestown giving bikers and hikers (or walkers if that’s what you prefer) the perfect way to get in their daily cardio while also taking in some of the Old Dominion’s most beautiful scenery and oldest history. Want to combine your cardio workout with another history lesson? Hop on the Richmond Liberty Trail and take a self-guided tour along the 6.2 mile loop that takes walkers through several distinct neighborhoods and past 15 national historic landmarks.
Adrenaline seekers who want a little more excitement can take on the James River’s class IV rapids on a guided kayaking tour through one of the local tour companies.
Richmond Culture and Entertainment: Food, History, and More
Dining Scene
The city is home to a thriving culinary scene that’s recently been earning high praise from national publications like Condé Nast Traveler, National Geographic, and Travel and Leisure. In Richmond you’ll find everything from trendy food trucks and down-home barbecue joints dishing out plenty of Southern favorites to upscale steakhouses and several James Beard nominated restaurants.
You’ll also find cuisines from around the world, ranging from authentic Latin fare and flavorful Jamaican dishes to French staples and Mediterranean tapas.
Looking for something sweet? The city is full of delicious bakeries like The Proper Pie Co., a fan favorite among locals for their decadent pies. Their menu includes mouthwatering options like French apple, chocolate pecan, and coconut cream.
Along with its flourishing restaurant scene, Richmond has also earned a reputation as a top-tier destination for craft beer lovers with more than 30 breweries operating in the city. And, the Richmond Beer Trail provides the perfect way to taste what’s on tap in the Capital City.
Local Attractions
As far as local attractions go, there’s something for everyone in Richmond. From performing arts theaters and music venues to historic sites, science museums and professional sports teams, Richmonders will never run out of things to do in town.
Richmond has its fair share of museums that cover a wide variety of topics and interests, including the Virginia Holocaust Museum, the Black History Museum, the Science Museum of Virginia, and the Poe Museum, which celebrates the life of famed writer Edgar Allen Poe, who called the city home as a child.
We’d be remiss not to mention Carytown as one of Richmond’s attractions. The area is a popular shopping, dining, and entertainment destination where visitors can grab a bite to eat, catch a movie, and visit one of the area’s specialty boutiques or thrift stores, all in one trip.
Entertainment
While it may not be a big city, Richmond certainly offers all the exciting entertainment options you’d expect to find in a larger city.
Residents can catch Broadway shows and live performances by the Richmond Ballet, Richmond Symphony Orchestra, and Virginia Opera at the Altria Theater and Dominion Energy Center. There are dozens of live music venues to visit no matter what genre you prefer, including historic The National theater, which always has a packed schedule of musicians performing on an almost nightly basis.
Creatives will appreciate the fact that there are more than 70 art galleries to explore, including the Virginia Museum of Fine Arts (VMFA) and the Institute for Contemporary Art at Virginia Commonwealth University. The VMFA has more than 50,000 works of art for visitors to peruse, including the largest collection of Fabergé eggs outside of Russia. The museum is open 365 days a year and is free to the public.
Inquisitive minds will want to get tickets to visit the Science Museum of Virginia, which is full of interactive, hands-on exhibitions that cover a variety of interesting topics that range from space and ocean exploration to medical marvels. The museum also offers live demonstrations and special events almost daily.
Love sports? You can plan a trip to the Diamond and root for the home team at a Flying Squirrels Minor League Baseball game.
Live a Healthy and Active Lifestyle
Eating well can go a long way in maintaining your health and improving your quality of life — especially as you age — and Richmond makes it easy for residents to find healthy eating options whether they want to eat out or cook their own meals. There are plenty of places to find fresh, local produce in Richmond.
Stop by the 17th Street Farmer’s Market or the RVA Big Market, another local staple for fresh fruits and veggies that’s open every Saturday year-round. Or plan to do some grocery shopping at Ellwood Thompson’s, a small, independent market located in Carytown that’s dedicated to stocking high-quality organic produce from local farmers as well as health supplements.
For healthy dining options consider grabbing a meal somewhere like Roots Natural Kitchen, where you’ll find a menu full of fresh salads and nutrient-rich grain bowls. The Daily Kitchen & Bar also prides itself on having a health-conscious menu with lots of vegetarian and vegan options as well as gluten-free and paleo dishes.
Health Care
Richmond residents can expect to be well taken care of when it comes to anything health related. The city is home to several medical facilities and major hospitals, giving locals easy access to healthcare, including one of the top hospitals in the state — the Virginia Commonwealth University Medical Center. The hospital is nationally ranked in three adult specialties, including cardiology, heart and vascular surgery, orthopedics, and rehabilitation.
The Henrico Doctors’ Hospital also offers Richmonders top-notch health care in several adult specialties ranging from hip and knee replacements to heart bypass surgery. Bon Secours is another well-known healthcare provider in the Richmond area with several medical centers and hospitals spread throughout the city. Bon Secours offers a range of services from general health care to surgical procedures.
55+ Communities in Richmond
If Richmond sounds like it might be a good fit for your golden years, then, you’re in luck. The city has several active adult communities with a variety of price points and housing options, whether you’re looking to downsize or want to live in a community with very specific amenities to suit your lifestyle.
Settler’s Ridge
Low $300ks – High $400ks
Settler’s Ridge is an age-restricted community with a total of 166 single-family homes. The neighborhood offers both new and resale options with a variety of distinct floor plans ranging from 1,265 to 2,090 square feet of living space. Layouts offer two to three bedrooms, two to three bathrooms, and two-car garages.
Settler’s Ridge residents will never have to worry about doing tedious lawn maintenance like cutting grass, cleaning gutters or shoveling snow — all of which is taken care of by the Homeowners’ Association (HOA) for a nominal fee. Community amenities include a clubhouse, an exercise room, a ballroom, a card room, and a heated indoor pool.
There’s also an activities director onsite to plan engaging community gatherings and events throughout the year.
Townes at Notting Place
Mid $300ks – Mid $400ks
Located 20 minutes from the city, Richmond’s age-restricted Townes at Notting Place community is ideal for retirees looking to downsize and enjoy a low-maintenance lifestyle during their golden years. The development is made up of 128 two-story attached homes with layouts ranging from 1,564 to 1,578 square feet of living space featuring two bedrooms, two or two-and-a-half bathrooms, and one- or two-car garages.
Amenities within the community include a gardening area with raised beds where homeowners can grow their favorite fruits, veggies and herbs, plus, two miles of paved walking trails, and a picnic area.
The Villas at Archer Springs
Mid $500ks – High $500ks
The Villas at Archer Springs is a small age-restricted community featuring a total of 95 single-family homes that are available on a resale-only basis. All homes offer single-level living and range from 1,522 to 2,268 square feet of living space and have two to three bedrooms, two bathrooms, and a two-car garage.
Residents of the Villas at Archer Springs have access to a number of amenities including gardening plots and a community park where they can socialize with neighbors. For a monthly fee, homeowners can have all of their lawns taken care of, giving them more time to enjoy their retirement.
Trellis Crossing
Low $400ks – High $400ks
If you’re looking for a small, tight-knit community consider Trellis Crossing. Located 15 miles outside the city, the age-restricted community is made up of 44 attached homes. The single-level layouts range from 1,753 to 2,037 square feet with two to three bedrooms, two bathrooms, and attached two-car garages.
Trellis Crossing’s list of amenities includes a clubhouse and amenity center with a card room, a library, a fitness center, and a community kitchen where neighbors can gather and share meals together. Outdoors, residents will find a gazebo, parks, and natural spaces.
