Best and Worst States To Retire in 2024, Ranked From Best to Worst

If your retirement plan is currently wide open and you’re considering making a domestic move to one of the 50 nifty United States, make sure you understand just what each option will cost you.

Between rising food costs, volatile housing markets and Social Security benefits down the line remaining a huge question mark, it’s best to focus on the finances you can control and how long you can stretch them in your desired retirement destination.

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Retirement is a significant milestone, and choosing the right place to enjoy this new chapter in life is crucial. The best states for retirement offer a blend of factors including cost of living, healthcare quality, recreational opportunities and overall lifestyle. Conversely, some states may present challenges that can detract from a comfortable retirement. This article explores the best and worst states to retire, helping you make an informed decision for your golden years.

GOBankingRates researched where to retire based on factors like property taxes, crime rates, home values and general cost of living assessments. Here are some key takeaways:

West Virginia is ranked number one based on cost factors and livability standards.
The worst state based on the study’s factors is California.
The top 10 ranked states — West Virginia, Maine, Kentucky, Wyoming, Alabama, Pennsylvania, North Dakota, Florida, Indiana and Mississippi — have an estimated average income of under $75,000.
The state with the highest violent crime rate was South Carolina and the state with the highest property crime rate was Colorado.

Here’s GOBankingRate’s assessment of where you should retire, ranked from best to worst. You can also check out how much you’ll need to do so.

1. West Virginia

State population of senior citizens, aged 65 and up: 376,162
Median household income: $55,217
Average single-family home value: $169,488
Average monthly mortgage payment: $992
Average monthly expenditure costs: $1,812
Total annual cost of living: $33,649

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2. Maine

State population of senior citizens, aged 65 and up: 312,893
Median household income: $68,251
Average single-family home value: $407,172
Average monthly mortgage payment: $2,384
Average monthly expenditure costs: $2,043
Total annual cost of living: $53,129

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3. Kentucky

State population of senior citizens, aged 65 and up: 791,113
Median household income: $60,183
Average single-family home value: $212,244
Average monthly mortgage payment: $1,243
Average monthly expenditure costs: $1,837
Total annual cost of living: $36,958

4. Wyoming

State population of senior citizens, aged 65 and up: 107,988
Median household income: $72,495
Average single-family home value: $349,030
Average monthly mortgage payment: $2,044
Average monthly expenditure costs: $1,804
Total annual cost of living: $46,170

5. Alabama

State population of senior citizens, aged 65 and up: 913,013
Median household income: $59,609
Average single-family home value: $229,129
Average monthly mortgage payment: $1,342
Average monthly expenditure costs: $1,733
Total annual cost of living: $36,894

6. Pennsylvania

State population of senior citizens, aged 65 and up: 2,539,054
Median household income: $73,170
Average single-family home value: $273,043
Average monthly mortgage payment: $1,599
Average monthly expenditure costs: $1,822
Total annual cost of living: $41,048

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7. North Dakota

State population of senior citizens, aged 65 and up: 130,293
Median household income: $73,959
Average single-family home value: $270,005
Average monthly mortgage payment: $1,581
Average monthly expenditure costs: $1,832
Total annual cost of living: $40,951

8. Florida

State population of senior citizens, aged 65 and up: 4,794,414
Median household income: $67,917
Average single-family home value: $417,817
Average monthly mortgage payment: $2,446
Average monthly expenditure costs: $1,907
Total annual cost of living: $52,239

9. Indiana

State population of senior citizens, aged 65 and up: 1,157,426
Median household income: $67,173
Average single-family home value: $246,647
Average monthly mortgage payment: $1,444
Average monthly expenditure costs: $1,775
Total annual cost of living: $38,633

10. Mississippi

State population of senior citizens, aged 65 and up: 513,184
Median household income: $52,985
Average single-family home value: $182,236
Average monthly mortgage payment: $1,067
Average monthly expenditure costs: $1,770
Total annual cost of living: $34,042

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11. Oklahoma

State population of senior citizens, aged 65 and up: 661,996
Median household income: $61,364
Average single-family home value: $210,716
Average monthly mortgage payment: $1,234
Average monthly expenditure costs: $1,753
Total annual cost of living: $35,848

12. Idaho

State population of senior citizens, aged 65 and up: 329,530
Median household income: $70,214
Average single-family home value: $462,357
Average monthly mortgage payment: $2,707
Average monthly expenditure costs: $1,825
Total annual cost of living: $54,380

13. Minnesota

State population of senior citizens, aged 65 and up: 995,047
Median household income: $84,313
Average single-family home value: $346,886
Average monthly mortgage payment: $2,031
Average monthly expenditure costs: $1,875
Total annual cost of living: $46,872

14. Ohio

State population of senior citizens, aged 65 and up: 2,168,665
Median household income: $66,990
Average single-family home value: $237,155
Average monthly mortgage payment: $1,389
Average monthly expenditure costs: $1,812
Total annual cost of living: $38,413

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15. Arkansas

State population of senior citizens, aged 65 and up: 538,842
Median household income: $56,335
Average single-family home value: $210,322
Average monthly mortgage payment: $1,232
Average monthly expenditure costs: $1,684
Total annual cost of living: $34,989

16. Michigan

State population of senior citizens, aged 65 and up: 1,877,562
Median household income: $68,505
Average single-family home value: $251,244
Average monthly mortgage payment: $1,471
Average monthly expenditure costs: $1,778
Total annual cost of living: $38,983

17. Rhode Island

State population of senior citizens, aged 65 and up: 206,117
Median household income: $81,370
Average single-family home value: $482,509
Average monthly mortgage payment: $2,825
Average monthly expenditure costs: $2,054
Total annual cost of living: $58,547

18. Wisconsin

State population of senior citizens, aged 65 and up: 1,102,386
Median household income: $72,458
Average single-family home value: $315,903
Average monthly mortgage payment: $1,850
Average monthly expenditure costs: $1,877
Total annual cost of living: $44,721

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19. Missouri

State population of senior citizens, aged 65 and up: 1,113,136
Median household income: $65,920
Average single-family home value: $253,253
Average monthly mortgage payment: $1,483
Average monthly expenditure costs: $1,713
Total annual cost of living: $38,348

20. New Mexico

State population of senior citizens, aged 65 and up: 404,784
Median household income: $58,722
Average single-family home value: $307,255
Average monthly mortgage payment: $1,799
Average monthly expenditure costs: $1,771
Total annual cost of living: $42,836

DenisTangneyJr / Getty Images/iStockphoto

21. Arizona

State population of senior citizens, aged 65 and up: 1,381,954
Median household income: $72,581
Average single-family home value: $444,236
Average monthly mortgage payment: $2,601
Average monthly expenditure costs: $1,856
Total annual cost of living: $53,483

22. Montana

State population of senior citizens, aged 65 and up: 226,136
Median household income: $66,341
Average single-family home value: $473,351
Average monthly mortgage payment: $2,772
Average monthly expenditure costs: $1,886
Total annual cost of living: $55,892

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23. Tennessee

State population of senior citizens, aged 65 and up: 1,217,964
Median household income: $64,035
Average single-family home value: $325,045
Average monthly mortgage payment: $1,903
Average monthly expenditure costs: $1,699
Total annual cost of living: $43,230

24. New Hampshire

State population of senior citizens, aged 65 and up: 281,983
Median household income: $90,845
Average single-family home value: $508,381
Average monthly mortgage payment: $2,977
Average monthly expenditure costs: $1,958
Total annual cost of living: $59,224

25. Nebraska

State population of senior citizens, aged 65 and up: 334,897
Median household income: $71,722
Average single-family home value: $266,070
Average monthly mortgage payment: $1,558
Average monthly expenditure costs: $1,819
Total annual cost of living: $40,530

26. Virginia

State population of senior citizens, aged 65 and up: 1,462,042
Median household income: $87,249
Average single-family home value: $402,453
Average monthly mortgage payment: $2,356
Average monthly expenditure costs: $1,849
Total annual cost of living: $50,460

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27. Iowa

State population of senior citizens, aged 65 and up: 588,879
Median household income: $70,571
Average single-family home value: $228,033
Average monthly mortgage payment: $1,335
Average monthly expenditure costs: $1,785
Total annual cost of living: $37,442

28. South Dakota

State population of senior citizens, aged 65 and up: 165,909
Median household income: $69,457
Average single-family home value: $309,454
Average monthly mortgage payment: $1,812
Average monthly expenditure costs: $1,818
Total annual cost of living: $43,556

29. Oregon

State population of senior citizens, aged 65 and up: 816,714
Median household income: $76,632
Average single-family home value: $511,920
Average monthly mortgage payment: $2,997
Average monthly expenditure costs: $2,022
Total annual cost of living: $60,224

30. Nevada

State population of senior citizens, aged 65 and up: 538,491
Median household income: $71,646
Average single-family home value: $459,799
Average monthly mortgage payment: $2,692
Average monthly expenditure costs: $1,909
Total annual cost of living: $55,212

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31. Delaware

State population of senior citizens, aged 65 and up: 212,180
Median household income: $79,325
Average single-family home value: $391,529
Average monthly mortgage payment: $2,293
Average monthly expenditure costs: $1,887
Total annual cost of living: $50,161

32. Vermont

State population of senior citizens, aged 65 and up: 139,827
Median household income: $74,014
Average single-family home value: $406,057
Average monthly mortgage payment: $2,378
Average monthly expenditure costs: $2,002
Total annual cost of living: $52,562

33. New York

State population of senior citizens, aged 65 and up: 3,564,596
Median household income: $81,386
Average single-family home value: $455,756
Average monthly mortgage payment: $2,669
Average monthly expenditure costs: $1,963
Total annual cost of living: $55,580

34. Kansas

State population of senior citizens, aged 65 and up: 506,342
Median household income: $69,747
Average single-family home value: $234,020
Average monthly mortgage payment: $1,370
Average monthly expenditure costs: $1,762
Total annual cost of living: $37,586

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35. Massachusetts

State population of senior citizens, aged 65 and up: 1,260,100
Median household income: $96,505
Average single-family home value: $657,464
Average monthly mortgage payment: $3,850
Average monthly expenditure costs: $2,264
Total annual cost of living: $73,364

36. Louisiana

State population of senior citizens, aged 65 and up: 780,061
Median household income: $57,852
Average single-family home value: $205,122
Average monthly mortgage payment: $1,201
Average monthly expenditure costs: $1,718
Total annual cost of living: $35,027

37. North Carolina

State population of senior citizens, aged 65 and up: 1,866,614
Median household income: $66,186
Average single-family home value: $337,441
Average monthly mortgage payment: $1,976
Average monthly expenditure costs: $1,868
Total annual cost of living: $46,125

38. South Carolina

State population of senior citizens, aged 65 and up: 1,008,618
Median household income: $63,623
Average single-family home value: $302,768
Average monthly mortgage payment: $1,773
Average monthly expenditure costs: $1,835
Total annual cost of living: $43,291

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39. Georgia

State population of senior citizens, aged 65 and up: 1,644,275
Median household income: $71,355
Average single-family home value: $336,833
Average monthly mortgage payment: $1,972
Average monthly expenditure costs: $1,816
Total annual cost of living: $45,453

40. Illinois

State population of senior citizens, aged 65 and up: 2,164,940
Median household income: $78,433
Average single-family home value: $275,790
Average monthly mortgage payment: $1,615
Average monthly expenditure costs: $1,831
Total annual cost of living: $41,353

41. Connecticut

State population of senior citizens, aged 65 and up: 663,712
Median household income: $90,213
Average single-family home value: $438,776
Average monthly mortgage payment: $2,569
Average monthly expenditure costs: $2,072
Total annual cost of living: $55,697

42. Hawaii

State population of senior citizens, aged 65 and up: 294,654
Median household income: $94,814
Average single-family home value: $991,137
Average monthly mortgage payment: $5,803
Average monthly expenditure costs: $2,545
Total annual cost of living: $100,177

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43. Utah

State population of senior citizens, aged 65 and up: 403,699
Median household income: $86,833
Average single-family home value: $533,040
Average monthly mortgage payment: $3,121
Average monthly expenditure costs: $1,768
Total annual cost of living: $58,672

44. Maryland

State population of senior citizens, aged 65 and up: 1,042,779
Median household income: $98,461
Average single-family home value: $434,761
Average monthly mortgage payment: $2,546
Average monthly expenditure costs: $1,943
Total annual cost of living: $53,869

45. Washington

State population of senior citizens, aged 65 and up: 1,309,142
Median household income: $90,325
Average single-family home value: $616,665
Average monthly mortgage payment: $3,611
Average monthly expenditure costs: $2,091
Total annual cost of living: $68,420

46. Texas

State population of senior citizens, aged 65 and up: 4,037,085
Median household income: $73,035
Average single-family home value: $309,871
Average monthly mortgage payment: $1,814
Average monthly expenditure costs: $1,801
Total annual cost of living: $43,379

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Jacob Boomsma / Getty Images/iStockphoto

47. Alaska

State population of senior citizens, aged 65 and up: 101,474
Median household income: $86,370
Average single-family home value: $378,750
Average monthly mortgage payment: $2,218
Average monthly expenditure costs: $2,556
Total annual cost of living: $57,293

48. New Jersey

State population of senior citizens, aged 65 and up: 1,611,726
Median household income: $97,126
Average single-family home value: $554,214
Average monthly mortgage payment: $3,245
Average monthly expenditure costs: $1,939
Total annual cost of living: $62,203

49. Colorado

State population of senior citizens, aged 65 and up: 915,661
Median household income: $87,598
Average single-family home value: $564,208
Average monthly mortgage payment: $3,304
Average monthly expenditure costs: $1,838
Total annual cost of living: $61,707

50. California

State population of senior citizens, aged 65 and up: 6,158,902
Median household income: $91,905
Average single-family home value: $810,327
Average monthly mortgage payment: $4,745
Average monthly expenditure costs: $2,247
Total annual cost of living: $83,906

Methodology: For this study, GOBankingRates analyzed each U.S. state to find the best to worst-ranked states. First GOBankingRates found the cost-of-living indexes as sourced from the Missouri Economic and Research Information Center, the average single-family home value as sourced from the Zillow Home Value Index, the total population, population ages 65 and over, total households, median property taxes paid, median home value, and median household income all sourced from the U.S. Census American Community Survey, the violent crime and property crimes as sourced from the Federal Bureau of Investigation’s Crime Data Explorer. For each state, the cost-of-living indexes were used along with the average expenditure costs for retired residents as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey to find the average expenditure costs. Using the median property taxes paid and the median home value, the median property tax rate can be calculated. The average home value can be used along with the national average 30-year fixed mortgage rate and by assuming a 10% down payment, the average mortgage cost can be calculated. With the expenditure and mortgage costs, the monthly cost of living can be calculated. Using the property and violent crimes, the crime rate per 1,000 residents can be calculated for each city. The violent crime rate was scored and weighted at 0.75, the property crime rate was scored and weighted at 0.75, the total cost of living was scored and weighted at 1.00, the property tax rate was scored and weighted at 1.00, the percent of the population that is aged 65 and over was scored and weighted at 1.00. All the scores were summed and sorted to show the best to worst states to retire. All data was collected on and is up to date as of August 16th, 2024.

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This article originally appeared on GOBankingRates.com: Best and Worst States To Retire in 2024, Ranked From Best to Worst

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