DemographicsAug 25, 2024
Ranked: The Best U.S. States for Retirement 🏖️
What We’re Showing
This chart ranks the 10 best U.S. states to retire in according to Bankrate.com, as of 2024.
What this ranking is not showing are states that people prefer to retire in for more qualitative reasons. Factors like weather are considered, but financial aspects of a state are weighted higher in this ranking.
Key Takeaways
- Delaware is at the top of the list as it has no state or local sales taxes and also does not tax social security benefits, improving affordability for those on a pension. It also has a high share of residents above the age of 62, helpful for finding community.
- Generally speaking, the best states for retirement are those that are affordable to live in and have warm weather. As a result, southern states in particular are considered “havens” for retirees.
Retirement Metrics
To create this list, Bankrate analyzed all states across five categories with assigned weights: Affordability (40%), Wellbeing (25%), Health care (20%), Weather (10%), Crime (5%). One overall rank was then calculated.
Dataset
Rank | State | Affordability | Well-being | Healthcare | Weather | Crime |
---|---|---|---|---|---|---|
1 | Delaware | #20 | #2 | #39 | #8 | #36 |
2 | West Virginia | #1 | #27 | #50 | #21 | #16 |
3 | Georgia | #5 | #42 | #34 | #6 | #29 |
4 | South Carolina | #17 | #20 | #33 | #9 | #46 |
5 | Missouri | #9 | #35 | #18 | #22 | #42 |
6 | Mississippi | #2 | #46 | #49 | #5 | #22 |
7 | Pennsylvania | #25 | #14 | #20 | #32 | #12 |
8 | Florida | #37 | #3 | #19 | #3 | #27 |
9 | Iowa | #16 | #33 | #12 | #38 | #12 |
10 | Wyoming | #8 | #16 | #38 | #47 | #7 |
Data sources
Metric Weights: Affordability (40%), Well-being (25%), Healthcare (20%), Weather (10%), Crime (5%).
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