Top 5 States Retirees Are Moving To in 2024
Written by
Choncé Maddox
Edited by
T. Woods
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When it comes to retirement, many people start to envision sunsets by the beach or leisurely walks on a scenic trail. A study conducted by Hire a Helper found that over 234,000 Americans actually moved to their ideal retirement state.
Cost of living was a big factor behind the moves but these five states have been the most popular.
1. Washington
Washington saw a 5.3% of inbound moves for retirees. The state has an abundance of natural beauty including the Cascade Mountains and Puget Sound so those who love the outdoors will find a range of activities to enjoy in their retirement.
But the state’s appeal goes beyond its greenery. Seattle offers the buzz of urban life, while smaller coastal towns provide a quaint pace. The lack of state income tax is also a significant draw for retirees who want to keep as much of their nest egg as possible.
2. Texas
Texas is increasingly becoming a hot spot for retirees due to its low cost of living and lack of a state income tax. The state of Texas saw a 5.3% increase in retiree moves and the metro areas of El Paso had 8% of total retirement moves.
3. New Jersey
New Jersey may surprise some as a top state for retirees to move to due to its high cost of living and property taxes. However, access to major cities like New York and Philadelphia, along with the state’s robust healthcare system making it a desirable location.
The state had 6% of inbound retirement moves and has diverse communities cater to a variety of interests including historical sites like Princeton and plenty of beach towns. New Jersey’s Senior Property Freeze program also helps older individuals manage their housing expenses, making it a surprising but appealing choice.
4. South Carolina
In South Carolina, the cost of living is below the national average and the state had 10% of inbound retirement moves. According to RedFin, the median home list price is $360,000 and historic cities like Charleston and Beaufort offer retirees a chance to immerse themselves in Southern culture, while the quieter towns along the coast provide a serene setting.
5. Florida
Florida is still one of the most popular retirement destinations and the state had 11.1% of inbound retirement moves in one year. Metro areas like Miami, Fort Lauderdale, and West Palm Beach were among the most popular destinations to move to. Florida’s warm environment, lack of state income taxes and range of retirement communities makes the transition for retirees easier.
Each state presents a unique set of attractions and opportunities, so consider what aspects are most important to you when deciding on your retirement destination.
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