The No. 1 State to Retire in Might Not Even Be on Your Radar, According to a New Report The results are in — and for once, Florida isn't the winner.
By Amanda Breen Edited by Jessica Thomas
Key Takeaways
- From climate to cost of living, healthcare access and more, retirees considering a move have a lot to consider.
- CreditDonkey gathered data on nine factors across all 50 states to determine the best states for retirement.
Nearly one in four Americans (22%) hope to relocate to another state in retirement, according to a recent survey of 1,000 U.S. adults conducted by financial services company Empower.
Of course, there are a number of factors for retirees on the move to consider — from climate to cost of living, healthcare access and more.
Related: Looking to Retire? Here Are the Top Five States to Consider
With that in mind, it's little wonder why Florida consistently appeals to the over-60 set. The warm weather, lack of income tax and abundant retirement communities make it the No. 1 destination for many retirees, per Travel + Leisure.
But what about some of the less obvious picks? Personal finance website CreditDonkey put together a report of its own to find out.
The study examined nine factors — average salary, annual utility bills, annual medical costs, food and beverage expenditure, car insurance costs, house prices and tax rates, crime rates, population over 65 and average temperature — in all 50 states, then factored its findings into an index score out of 100 for each state.
Related: This U.S. City Is One of the Most Desirable Places to Retire — and No, It's Not in Florida
According to that metric, here are the top 10 states to retire in:
1. Mississippi
Score: 62.54
2. Alabama
Score: 62.33
3. Idaho
Score: 62.14
4. Iowa
Score: 60.91
5. Arkansas
Score: 59.98
6. North Carolina
Score: 59.45
7. Virginia
Score: 59.23
8. Kentucky
Score: 59.20
9. West Virginia
Score: 58.72
10. Oklahoma
Score: 58.65
Related: Young and Wealthy Professionals Are Moving To These 10 States, According to a New Report
