3 best and 3 worst US states to retire to: new ranking
If I were to retire today, I'd make a beeline straight to my favorite area of Canada.
The Okanagan Valley is hot in the summer, reasonably mild in the winter, filled with big, beautiful lakes, and surrounded by three breathtaking mountain ranges.
Of course, there are many factors outside of weather and scenery that go into selecting a retirement location.
And as a new power ranking of the best places to retire to shows, the place you pick can have a lot to do with how happy you and your wallet are.
Ranking the best U.S. states to retire to
The personal finance and lending site Bankrate recently analyzed dozens of data points to come up with a list of the best U.S. states to retire to — from worst to first.
Some of these will probably leave you scratching your head, but keep in mind the following category weights when you go through the list and it'll make more sense:
- Affordability (40 percent)
- Overall wellbeing (25 percent)
- Cost and quality of healthcare (20 percent)
- Weather (10 percent)
- Crime (5 percent)
In other words, affordability was the most important factor Bankrate considered.
So after all that, the best state to retire to is … DELAWARE?!
Yessir, according to Bankrate.
Here's their explanation:
"The First State isn't typically thought of as a retirement haven, but it has many strong selling points for retirees.
"Delaware is a tax-friendly state for retirees. It doesn't have state or local sales tax, and it doesn't tax Social Security benefits.
"It also has lower property taxes relative to the rest of the country, averaging roughly $1,939 annually…
"The state ranks well for racial and ethnic diversity, arts and entertainment establishments per 100,000 residents and overall well-being.
"Earthquakes, tornados, and hurricanes are also rare, and the climate is temperate."
While Delaware's cost of living, crime, and healthcare numbers were lower than some of the other top 5 states, it ranked beautifully in affordability areas like property taxes, sales tax, and home insurance.
So which other states ranked near the top?
The top 5 best U.S. states to retire to
Again, some of these are going to seem weird at first glance.
Here's the rest of that top five, here they are:
- Delaware
- West Virginia
- Georgia
- South Carolina
- Missouri
So you can see here where the heavy weighting toward affordability comes into play.
Recently I published a story about the 5 cheapest states to buy a home in, and West Virginia came out on top with an average cost of $167,110.
Here's what I wrote then:
"The catch (there's always a catch) is that economic opportunities in these states are scarce as hell.
How bad is it?
I Googled 'Why are homes so cheap in West Virginia?' and it turned up this response on Quora:
"'I'm in WV, and most of the people are just plain dumb. You have dumb neighbors who do dumb things.
'This behavior runs down the neighborhood. I moved here because my son needed a house sitter, and I got stuck.
'I was dumb enough to come here, too, to my regret.'"
And the review went on like that for several more paragraphs.
Meanwhile, even the Bankrate rating had West Virginia as the worst state in the U.S. for access to healthcare, which seems kind of important when you're a senior!
So while some places might seem like ideal retirement spots from a cost perspective, sometimes you get what you pay for.
Meanwhile, several of the states Bankrate rated as the WORST to retire to would probably be dream landing spots for a lot of folks.
Let's look at some of those now.
The 5 worst U.S. states to retire to
According to Bankrate, the five worst states to retire to are:
- Alaska
- New York
- Washington
- California
- North Dakota
The sweeping vistas of Alaska, the exciting bustle of New York, the easy access to the outdoors of Washington, the sun and surf of California … they all come at a cost, which is the main reason these states rank so low.
You get what you pay for
The right retirement spot will look different for everyone.
Maybe you love winter and hate the beach.
Maybe you don't have a ton of money but you're willing to pay a premium for that lakeside cottage.
There are also many priceless factors to consider, like proximity to your kids and grandkids.
Tell me:
Do you agree with the ranking of the best and worst retirement states?
Where would you retire to if you had the choice?
Hey pals, thank you for reading all the way to the end! Want to completely change your life and support my work at the same time? Check out my Power To-Do List today (affiliate link).
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Published in Dwelling News
This publication focuses on trending real estate news. Dwelling News Podcast: https://www.youtube.com/playlist?list=PLhZm_X7IAx_Nlaq5ZkIdMbTAmyRJ8hBQc
Written by James Julian
James is a journalist, author, entrepreneur, and investor. YouTube: https://www.youtube.com/@JamesJulianWealth
What are your thoughts?
I will retire in either Vermont, Maine, Colorado or any other New England state. I like snow and cold and liberals.
83
As someone who was born and raised in Massachusetts, I agree with you. And you'll get plenty of all three! 🙂
18
Haha..... that's funny, I like none of those three. I retired to South Carolina. Warm, friendly, and conservative. To each their own.
2
Other than Delaware, their top 5 are among the worst states to move to. West Virginia, for god's sake! It's affordable because nobody would want to live there. Terrible health care, low economic opportunity, high crime, and whatever wellbeing comes from living surrounded by poverty.Look at life expectancy: West Virginia - 50th, Missouri - 41, South Carolina - 43, Georgia - 38.California is near the top. I'm old. alive, and in reasonable health for my age. I'll stay here. The weather is much nicer than other worst states.
36
North Dakota??? You've got to be kidding. We left 25 years ago when the state turned redder every year. Now it's a MAGA cult hellhole.
13
WA resident here. Totally agree this is a terrible place to move to. Stay away. Don't come. Scat.
80
As someone on the cusp of retiring, who lives in Seattle since 1995, I support your comment. Terrible place to live. West Virginia and Missouri sound like better options. I will fall on my trekking pole and stay in Washington so other people don't have to.
9
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