What's the best state to retire in? It's a complicated question that you may find yourself asking as you approach retirement age.

Senior Couple Walking With Pet Golden Retriever
Image source: Getty Images.

About half of Americans older than 55 are retired, and that percentage may be on the rise. Among those who haven’t retired yet, pessimism about being able to afford retirement is growing alongside considerations about moving during retirement to save money.

Of course, people have different priorities when it comes to choosing the best state to retire to. But what are those priorities? The Motley Fool surveyed 1,500 Americans to find out -- and then ranked all 50 states based on those priorities.

We'll go over the survey results and then jump into the best states to retire to based on what Americans really want.

Key findings

Key findings

  • According to The Motley Fool survey, Americans value these seven factors when it comes to choosing a best place to retire: high quality of life, low housing costs, high healthcare quality, reasonable healthcare costs, low crime rate, good public health, and low taxes.
  • The top five best states to retire to in 2024 are New Hampshire (1), Utah (2), Minnesota (3), Connecticut (4), and Colorado (5).
  • The bottom five worst states to retire to in 2024 are Louisiana (50), Kansas (49), West Virginia (48), Arkansas (47), and Mississippi (46).

Retirement factors ranked

What makes a state one of the best places to retire?

Instead of ranking states on the factors we think are important to people, we surveyed 1,500 Americans 55 and older to find out what they really want. High quality of life, low housing cost, high healthcare quality, reasonable healthcare costs, low crime rate, good public health, and low taxes were the highest-ranking factors.

Here's the full list of things Americans think about when choosing a state to retire to:

Data source: The Motley Fool survey of 1,500 Americans age 55 and over, conducted December 2, 2021.
Retirement factor Average importance (out of 10)
Quality of life 8.4
Housing cost 8.2
Healthcare quality 8.2
Crime rate 8.2
Healthcare cost 8.1
Public health, including Covid-19 response 7.7
Taxes 7.6
Non-housing costs 7.5
Weather 7.3
Proximity to family 7.2
Walkability 6.6
Resistance to climate change 6.1
Political environment 5.9
Diversity and equality 5.8
Proximity to airport 5.0
Public transit 4.8

What is quality of life?

Quality of life is the highest-ranking factor when it comes to finding a state to retire to, but what exactly does that mean?

The prevalence of retail and dining options came out at the top of our list, with 57% of respondents saying it's important. Outdoor activities (47%) and cultural activities (35%) were high priorities as well, while spiritual community (31%), organized activities for retirees (23%), and civic organizations (14%) were less important.

In these rankings, we used Sharecare's Community Well-Being Index to represent quality of life since it captures many of the things that people want in a high-quality life, including a wide variety of physical, social, financial, and community factors.

Top 10 best states to retire to in 2024

Here's the ranking of the top-10 states for retirees based on our study and data analysis:

  1. New Hampshire
  2. Utah
  3. Minnesota
  4. Connecticut
  5. Colorado
  6. Vermont
  7. Maryland
  8. Nebraska
  9. North Dakota
  10. Wisconsin

Best state to retire

The best state to retire: New Hampshire

New Hampshire earns the top spot on our Best States to Retire list thanks to its near-perfect healthcare score, second-best crime score, and being in the upper half of states when it comes to quality of life and taxes. That was more than enough to offset expensive housing, cost of living, and cold temperatures.

  • Quality of life score: 60 (ranked 16th)
  • Housing cost: $453,001 (ranked 41st)
  • Healthcare score: 99.9 (ranked 2nd)
  • Crime score: 95 (ranked 2nd)
  • Tax score: 56 (ranked 18th)
  • Average temperature: 45.2ºF (ranked 41th)
  • Cost of living score: 34 (ranked 47th)

Top 10 best states to retire

2. Utah

Utah ranks second, boasting the top healthcare score in the country and pulling in scores in the top half of all states in two other categories: quality of life (eighth) and crime (12th). Utah does have among the highest house prices in the country and a relatively high tax burden, but those factors and middling temperature (33rd) and cost of living (28th) scores didn’t keep the state down in our rankings.

  • Overall rank: 2
  • Quality of life score: 76 (tied 8th)
  • Housing cost: $510,173 (45th)
  • Healthcare score: 100 (1st)
  • Crime score: 79 (12th)
  • Tax score: 34 (40th)
  • Average temperature: 49.2ºF (33rd)
  • Cost of living score: 80 (28th)

3. Minnesota

Minnesota ranks third on our Best States to Retire list, boosted by the fourth-best healthcare score among all 50 states, 13th-best crime score, and 15th-best quality of life score. While the state has the third-lowest average temperature, it comes in around average for housing cost (26th) and cost of living (30th), making it desirable for retirees who can handle chilly weather.

  • Overall rank: 3
  • Quality of life score: 64 (15th)
  • Housing cost: $331,895 (26th)
  • Healthcare score: 95 (4th)
  • Crime score: 77 (13th)
  • Tax score: 34 (39th)
  • Average temperature: 41.5ºF (47th)
  • Cost of living score: 78 (30th)

4. Connecticut

Connecticut is an expensive state to retire to, but it makes up for that with great quality of life (seventh best), healthcare (sixth best), and low crime (fourth best). That’s enough to make up for tough tax and cost-of living scores.

  • Overall rank: 4
  • Quality of life score: 80 (7th)
  • Housing cost: $381,722 (31st)
  • Healthcare score: 92 (6th)
  • Crime score: 90 (4th)
  • Tax score: 4 (49th)
  • Average temperature: 51.1ºF (29th)
  • Cost of living score: 51 (45th)

5. Colorado

Colorado’s natural beauty and outdoor recreation is arguably unmatched, so it’s no surprise that it ranks in the top 10 for quality of life. That, and scoring third best for healthcare, propelled it into our top five best states to retire to despite chilly temperatures and being home to the fourth-most-expensive housing market in the country.

  • Overall rank: 5
  • Quality of life score: 76 (tied 9th)
  • Housing cost: $537,600 (46th)
  • Healthcare score: 96 (3rd)
  • Crime score: 57 (31st)
  • Tax score: 55 (19th)
  • Average temperature: 46.2ºF (38th)
  • Cost of living score: 79 (29th)

6. Vermont

Vermont comes in sixth on our list of best states to retire to due to having the third-best crime score and fifth-best healthcare score. That, along with a slightly-above-average quality of life, is enough to make up for cold temperatures, a high cost of living, and an expensive tax environment.

  • Overall rank: 6
  • Quality of life score: 52 (tied 21st)
  • Housing cost: $393,838 (34th)
  • Healthcare score: 93 (5th)
  • Crime score: 91 (3rd)
  • Tax score: 20 (47th)
  • Average temperature: 44ºF (42nd)
  • Cost of living score: 55 (41st)

7. Maryland

The only mid-Atlantic state to crack the top 10, Maryland has the second-highest quality of life score and ninth-best healthcare score. Although Maryland has a relatively high cost of living, its scores for crime (28th), temperature, tax (35th) and housing (35th) are closer to average, leaving it as a top state to retire to.

  • Overall rank: 7
  • Quality of life score: 96 (tied 2nd)
  • Housing cost: $407,656 (35th)
  • Healthcare score: 83 (9th)
  • Crime score: 60 (tied 28th)
  • Tax score: 41 (35th)
  • Average temperature: 56.7ºF (18th)
  • Cost of living score: 62 (39th)

8. Nebraska

The Cornhusker State scores in the upper half of all 50 states in every category but taxes and weather. And Nebraska’s scores in those two categories aren’t among the worst, meaning they more than offset its strong scores in cost of living, quality of life, housing cost, healthcare, and crime.

  • Overall rank: 8
  • Quality of life score: 56 (tied 18th)
  • Housing cost: $254,571 (15th)
  • Healthcare score: 77 (tied 12th)
  • Crime score: 69 (22nd)
  • Tax score: 39 (tied 37th)
  • Average temperature: 49.5ºF (32nd)
  • Cost of living score: 92 (9th)

9. North Dakota

North Dakota has experienced a relatively recent boom thanks to drilling in the oil-rich Bakken formation. The state doesn’t stand out in any one category but scores in the top half in five of the seven categories that factor into our rankings. Weather is a rough spot -- North Dakota has the second-coldest average temperature, at about 41 degrees Fahrenheit.

  • Overall rank: 9
  • Quality of life score: 60 (tied 18th)
  • Housing cost: $257,503 (16th)
  • Healthcare score: 75 (16th)
  • Crime score: 70 (21st)
  • Tax score: 63 (7th)
  • Average temperature: 40.7ºF (49th)
  • Cost of living score: 80 (27th)

10. Wisconsin

Wisconsin rounds out the top 10 best states to retire to by posting healthcare, crime, and house price scores all in the top half of the country. Its quality of life and cost of living scores come in at 25th out of 50 states, while it fares worse in terms of tax burden and average temperature.

  • Overall rank: 10
  • Quality of life score: 48 (tied 25th)
  • Housing cost: $293,610 (20th)
  • Healthcare score: 80 (11th)
  • Crime score: 71 (20th)
  • Tax score: 44 (32nd)
  • Average temperature: 44ºF (43rd)
  • Cost of living score: 81 (25th)

The best states to retire in for high quality of life

Data source: Sharecare (2022).
Rank State Sharecare Well-Being Index
T-1 Hawaii 71
T-1 Massachusetts 71
T-3 Maryland 70
T-3 New Jersey 70
5 New York 69

Our respondents said that quality of life is the most important factor to them. We measured quality of life using the Sharecare Community Well-Being Index, which combines a wide range of factors that they call "social determinants of health." This includes factors that cover physical and financial health, food access, and a variety of social and community elements.

The best states to retire in financially

We looked at two different factors that make a state affordable: housing cost, via the Zillow Home Value Index, and non-housing cost of living, represented by the C2ER Cost of Living Index. With the recent drop in average financial well-being among Americans over 61, this is more important than ever.

States with the most affordable homes for retirees

Data source: Zillow (2023).
State Zillow Home Value Index (August 2023)
West Virginia $158,668
Mississippi $177,536
Kentucky $197,657
Oklahoma $198,629
Arkansas $198,746

States with the lowest cost of living for retirees

Data source: Council for Community and Economic Research (2023).
State Non-housing cost of living
Mississippi 66.2
Oklahoma 66.8
Tennessee 67.0
Kansas 67.3
Missouri 67.4

Best states to retire in for healthcare

Data source: United Health Foundation (2023).
State America's Health Rankings Senior Report Overall Score
Utah 0.722
New Hampshire 0.72
Colorado 0.657
Minnesota 0.637
Vermont 0.603

Our respondents value both the quality and affordability of healthcare when looking at states to retire to. We used a single value to represent both: the America's Health Rankings Senior Report. The score in that report is calculated using a number of factors that represent quality, availability, and cost of healthcare, in addition to outcomes.

Safest states to retire to

Data source: United Health Foundation (2023).
State America's Health Rankings Senior Report Violent Crime Per Capita
Maine 109
New Hampshire 146
Vermont 173
Connecticut 182
New Jersey 195

To determine the level of safety of each state, we used the number of violent crimes committed per 100,000 population from the America's Health Rankings Crime Report.

Best states to retire tax wise

Data source: Tax Foundation (2023).
State Effective Tax Rate
Alaska 4.60%
Wyoming 7.50%
Tennessee 7.60%
South Dakota 8.40%
Michigan 8.60%

We ranked states for taxes by looking at the Tax Foundation's State and Local Tax Burden tables. The five states above have the lowest state and local tax burden in the country. It's important to remember that different states tax your retirement income differently.

Best states to retire to for warm weather

Data source: National Oceanic and Atmospheric Administration, September 2018 to August 2023.
State Average Temperature
Hawaii 76°F
Florida 73°F
Louisiana 68°F
Texas 66.4°F
Georgia 65.5°F

Identifying the state with the best weather for retirees is complicated, if not impossible. Many people prioritize mild winters, but others prefer dryness over heat. Others want to be close to the beach, and still others are fine with cold winters as long as summers aren't too oppressive. In the end, because warm winters are a common theme, we went with a five-year average temperature for our ranking, and the five states above came out on top.

Retirement ranking by state

The best states to retire: The full ranking

Individual factor scores are normalized on a 0-100 scale. The final score is weighted and normalized.
State Quality of life Cost of housing Public health Crime Taxes Weather Non-housing cost of living Overall weighted and normalized score
New Hampshire 60 57 99.9 95 56 34 34 100
Utah 76 48 100 79 34 43 80 95
Minnesota 64 75 95 77 34 26 78 92
Connecticut 80 67 92 90 4 47 51 87
Colorado 76 44 96 57 55 36 79 86
Vermont 52 66 93 91 20 32 55 85
Maryland 96 64 83 60 41 59 62 82
Nebraska 56 86 77 69 39 43 92 81
North Dakota 56 86 75 70 63 25 80 79
Wisconsin 48 80 80 71 44 32 81 79
Virginia 72 69 72 86 30 60 78 78
Washington 76 39 88 75 46 39 53 77
Maine 44 66 76 100 31 29 55 72
Hawaii 100 0 91 80 16 100 0 72
Iowa 40 92 67 73 42 41 89 72
Florida 52 66 61 62 60 94 81 71
Oregon 68 51 77 75 45 41 62 70
Massachusetts 100 37 82 73 39 45 26 70
Rhode Island 72 59 70 83 40 49 53 69
Wyoming 44 73 61 83 74 27 89 69
Delaware 56 68 77 56 31 61 69 68
Idaho 36 58 71 82 46 32 84 65
South Dakota 44 80 66 46 66 35 94 62
Pennsylvania 60 85 60 61 47 46 76 62
Michigan 36 88 63 49 65 36 88 62
Indiana 32 89 55 66 58 51 88 61
New Jersey 96 51 59 88 24 55 68 59
North Carolina 40 76 57 57 53 67 86 59
Illinois 68 86 57 57 27 51 89 56
Ohio 40 91 47 73 52 50 84 55
Georgia 40 76 44 60 62 78 95 52
Arizona 48 61 57 48 57 68 76 52
Kentucky 16 94 42 79 56 60 75 52
Texas 40 79 44 54 65 80 90 51
South Carolina 36 81 49 42 62 75 82 50
Alabama 24 90 43 53 54 76 92 49
New York 92 57 65 65 0 38 59 46
Montana 40 57 64 50 48 28 76 44
Missouri 40 88 38 40 58 57 96 37
California 84 14 57 54 21 65 41 28
Alaska 52 71 57 0 100 0 5 26
Tennessee 28 78 33 23 73 64 97 26
Nevada 52 62 31 52 56 47 86 23
Oklahoma 20 94 16 52 61 67 98 21
New Mexico 12 80 37 8 50 55 89 13
Mississippi 0 97 0 75 54 77 100 12
Arkansas 12 94 20 23 50 69 92 11
West Virginia 16 100 3 66 54 52 87 9
Kansas 48 91 3 57 42 55 96 4
Louisiana 28 94 0 27 60 83 92 0

Worst states to retire in

The worst states to retire in

Louisiana, Kansas, West Virginia, Arkansas, and Mississippi ranked as the worst states to retire to based on the factors Americans care most about.

These five states are among the most affordable in terms of housing and other cost-of-living categories. They also feature relatively warm temperatures. But they post very low scores in other areas.

Louisiana, West Virginia, Arkansas, and Mississippi are among the 10-worst states for quality of life, with Mississippi taking the bottom spot.

In terms of healthcare for seniors, the bottom four states are Mississippi, Louisiana, Kansas, and West Virginia, in that order. Arkansas is ranked sixth worst.

Louisiana and Arkansas have the fourth- and fifth-worst crime scores, and Kansas is in the bottom half of all states.

Of course, there are sought-after retirement communities in some of those states, such as the Ozarks in northern Arkansas.

Related retirement topics

Methodology

The Motley Fool’s 2024 Best States to Retire study leverages data and rankings from a variety of reputable sources, as well as primary data collected by The Motley Fool to determine what Americans value most in retirement.

To determine the best states to retire in, The Motley Fool used a three-step process:

1. Survey distribution and analysis

The Motley Fool surveyed a national representative sample of 1,500 American adults aged 55 or older to find out what they value in retirement. This survey was distributed on Dec. 2, 2021. The margin of error was 3%, and the confidence level was 95%. Their responses determined the factors considered in this study, as well as the weighting of each factor (described below). The online survey was distributed via Pollfish. The survey employed organic sampling via random device engagement.

2. Data analysis

Second, The Motley Fool selected data sources to correspond to these top retirement factors:

Quality-of-life

  • Source: Sharecare's Community Well-Being Index (2022).
  • The Sharecare Community Well-being Index, produced in partnership with the Boston University School of Public Health, examines more than 600 factors, including physical, financial, social, community, purpose, healthcare, food, resources, housing and transportation, and economic security, as well as data from more than 400,000 Americans. The index makes use of county-level well-being data to generate a holistic assessment of well-being.

Cost-of-living (excluding housing)

  • Source: The Council for Community and Economic Research’s (C2ER) Cost of Living Index (Q2 2023).
  • C2ER has collected state and MSA-level cost-of-living data since 1968. It has been recognized by the U.S. Census Bureau and U.S. Bureau of Labor Statistics and is consistently cited by major media outlets.

Housing cost

  • Data source: Zillow Home Value Index (ZHVI) (August 2023).
  • The ZHVI is a measure of the typical home value in a state, across all homes in a state. The dataset includes more than 100 million homes, including those under construction or not listed for sale, providing a more accurate overview of a housing market.

Healthcare

  • Data source: United Health Foundation’s America's Health Rankings - Seniors Report (2023).
  • This report scores health and well-being outcomes for older adults by state. It examines 52 measures from 22 data sources.

Crime

  • Data source: United Health Foundation’s America's Health Rankings - Violent Crime Report (2023).
  • This report reviews the number of murders, rapes, robberies, and aggravated assaults per 100,000 population to determine state safety rankings.

Temperature

  • Data source: National Oceanic and Atmospheric Administration National Centers for Environmental Information (October 2018 to September 2023).
  • Uses average temperature from October 2018 to September 2023, a 60-month period.

Tax

  • Data source: The Tax Foundation: State and Local Tax Burden (2023).
  • Provides findings on effective tax rates for each state. Effective tax rates are the percentage of taxable income paid in taxes, which provides a holistic view of taxes paid in each state.

3. Data weighting and state scoring

Data from those sources were normalized and weighted based on the importance of the corresponding factor from the survey.

Weighting was assigned as follows, based on survey results (percentages do not add up to 100% due to rounding):

  • Quality of life: 15.2%
  • Housing cost: 14.9%
  • Healthcare: 14.8%
  • Crime: 14.8%
  • Taxes: 13.7%
  • Non-housing cost of living: 13.6%
  • Weather: 13.1%

The Motley Fool used that data to create a final weighted score between 0 and 100 for each state to determine the best states to retire.

Sources

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