Texas will be cheaper place to retire by end of 2024, says Yahoo!Finance

NEW YORK – Yahoo!Finance has identified three states where retiring will cost less by the end of the year. One of those is Texas.

Texas has no state income tax, no Social Security tax, and no estate or inheritance taxes, the finance site reports. In addition, the average home value in Texas is nearly $100,000 less than in Florida, another state that made the list (Virginia was the third). And these values have increased by only 1 percent over the past year, a much slower gain.

According to the Texas Real Estate Research Center’s 2024 Real Estate Forecast, “Average overall home price levels could remain flat or, at most, dip slightly” in Texas in 2024.

Additionally, some areas of Texas are seeing declining home prices.

San Antonio, which SmartAsset says has the second-highest net migration of retirees nationwide, has seen median home sale price drop by 3.5 percent over the past year, according to Redfin. And San Antonio homes spend a median of 46 days on the market — up 11 days year over year — which could give buyers some negotiating power.