Wondering where to find the best places to retire? A new survey from WalletHub compared the 50 states across 46 key indicators, from tax rates and the cost of living to access to quality medical care and fun activities, to narrow down the best states to retire in.
Regardless of your reasons for moving in retirement — living closer to family, cheaper cost of living, downsizing, better healthcare or just wanting a different view out of the kitchen window — checking out the best places to retire in the US before you change your address just makes good sense.
By 2030, the US will have more adults aged 65 years or older—retirement age— than children under the age of 18, according to the U.S. Census Bureau. By 2060, there will be around 94.7 million Americans who are 65 or older. Suddenly, finding the best place to retire becomes much more challenging as competition for housing ramps up.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Although what makes the best places to retire comes down to personal preferences, these factors can make (or break) the effort of packing up and moving worthwhile.
- High-quality public healthcare
- Affordable housing
- Good public transportation
- Lots of green spaces
- A welcome sense of community
- The ease of making new friends
- Lower taxes
- Weather - cold vs. hot or humid over dry
Before you permanently uproot your life, take a look at the best states to retire in. We’ve highlighted the top 10.
Top 10 places to retire in 2024
| Rank | State | Total Score* | Affordability | Quality of Life | Healthcare |
| 1 | Florida | 62 | 4 | 1 | 29 |
| 2 | Colorado | 61 | 14 | 27 | 3 |
| 3 | Virginia | 61 | 11 | 13 | 11 |
| 4 | Delaware | 60 | 3 | 34 | 22 |
| 5 | Wyoming | 59 | 7 | 7 | 37 |
| 6 | Idaho | 58 | 9 | 24 | 24 |
| 7 | New Hampshire | 58 | 28 | 8 | 5 |
| 8 | Minnesota | 58 | 39 | 4 | 1 |
| 9 | Montana | 57 | 21 | 12 | 16 |
| 10 | Pennsylvania | 56 | 35 | 2 | 8 |
*Rounded up or down. A rank of 1 represents the best conditions for that metric category.
The best of the best: the top 5 states to retire
Florida
Florida ranks as the best state to retire due to its relatively low taxes, including no estate, inheritance or income taxes. (Check out our Florida State Tax Guide). The cost of adult day health care and homemaker services are also lower than in most other states. Florida is also the land of eternal sunshine with the second-most shoreline miles of any state, allowing for plenty of relaxing at the beach. It also offer adult volunteer activities, dozens of golf courses, and plenty of ways for retirees to remain healthy. Unfortunately, the overall cost of living is pretty high in Florida compared to other states.
Colorado
Colorado is a great state for retirees’ physical and mental health with one of the lowest rates of social isolation for seniors. There are very few residents above age 65 that live in poverty and, like number one ranked Florida, it offers similar taxpayer-friendly conditions, with no estate or inheritance taxes. (Check out our Colorado State Tax Guide). Colorado also boasts some of the best geriatrics hospitals in the country.
Virginia
Virginia has high-quality geriatrics hospitals and a lot of doctors and dentists to choose from. It also boasts some of the best elder-abuse protections in the country, making it a safer place to live for retirees. It is the tenth most taxpayer-friendly state, but not a particularly cheap place to live, with an overall higher cost of living. (Check out our Virginia Tax Guide). On the positive side, Virginia has miles and miles of shoreline, a low violent crime rate and good air quality.
Delaware
Delaware ranks as the fourth-best state for retirement because it has one of the lowest overall tax burdens in the country, including no estate or inheritance taxes. (Check out our Delaware State Tax Guide). It also has a large population of seniors so you never feel alone or isolated. Delaware also has the lowest rate of poverty among people age 65 and older. The state also offers seniors a variety of things to do and places to wander, from the beaches of Rehoboth to the historic streets of Wilmington, the First State offers a unique blend of experiences for retirees.
Wyoming
Wyoming has one of the highest senior volunteering rates in the nation, which might help explain why there’s a low risk of social isolation for seniors. It also stands out by keeping seniors safe against elder abuse compared to most states. It has low violent crime rates, and some of the cleanest air in the country. When it comes to finances, Wyoming also ranks among the states with the lowest tax burdens and doesn’t have an estate or inheritance tax. (Check out our Wyoming State Tax Guide).
The next 15 states also earn the distinction of being good states to retire in 2024.
- South Carolina
- Utah
- South Dakota
- Arizona
- North Carolina
- Massachusetts
- California
- Wisconsin
- North Dakota
- Missouri
- Michigan
- Nebraska
- Maine
- Alabama
- Ohio
“Being retired brings freedom, but it also naturally comes with financial constraints, with many seniors living on a fixed income. To make the most of your retirement savings, you should retire in a state where the cost of living and tax rates are friendly to retirees if you have the resources,” says Cassandra Happe, WalletHub Analyst. “You should also consider factors like the quality of the state’s healthcare system and the abundance of activities that you enjoy.”
Still not certain if making a move is best for you? Check out the Worst Places to Retire in the U.S., based on 46 key indicators like not-so-easy access to quality healthcare, higher housing costs and taxes.
Related Content
-
Harris vs Trump on Medicare Drug Price Negotiations: Fact CheckA fact check of what the Trump and Biden-Harris administrations did around Medicare drug price negotiations.
-
How to Create a Retirement Plan That Checks All Your BoxesYou might consider starting with a model retirement plan that has already been assembled and is ready to be refined to meet your objectives.
-
How to Create a Retirement Plan That Checks All Your Boxes
You might consider starting with a model retirement plan that has already been assembled and is ready to be refined to meet your objectives.
-
Why Gen X Marks the Spot for Rethinking RetirementRetirement plans that worked for Baby Boomers may not fit the bill for Gen Xers. If you're nearing 60, it's time to bring your retirement strategy up to date.
-
Kamala Harris Proposes Medicare Cover In-Home HealthcareVice President Kamala Harris proposed a plan for Medicare to cover in-home healthcare.
-
Election Could Reshape Opportunity Zones and 1031 ExchangesTrump and Harris have divergent approaches to qualified opportunity zones and 1031 exchanges. See how each could fare under their administrations.
-
Six Reasons to Have Life InsuranceThe peace of mind from knowing your family is financially protected if something happens to you is invaluable, but there are other compelling reasons, too.
-
Is Medicare a Good Reason to Wait Until 65 to Retire?The average retirement age is 62, but many people wait until Medicare starts at 65. Should health care be the key driver of your retirement date?
-
Late to Retirement Planning? Four Ways to Help Catch UpIf you're afraid you're behind in saving for retirement, it's important to act. You can do something. Here are four ways to help get back on track.
-
What Buyers and Sellers Need to Know About New Real Estate RulesBuyers and sellers have more room to negotiate commissions, and that could reduce home prices over the long run.
