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.

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.

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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

• 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.