Best and Worst US States for Retirement, Rankings 2022 Guide
The best & worst states for retirement 2022, cost of living, tax rates, health & medicare, life quality, Full Guide..
The pace of life typically slows down after retirement.
No more stressing over work deadlines, office politics, or trying to make ends meet in a city with a punishing cost of living.
The end of your career also poses new issues regarding how and where you should spend your free time now that you are not bound to a particular place.
The most expensive destinations for retirement, includes Hawaii, the Northeast and the West Coast. The Midwest and Deep South tend to be the least expensive retirement destinations,
Highest Cost of Living US States Rank --- Lowest Cost of Living States Rank
Hawaii 1 --- Indiana 42
District of Columbia 2 -- West Virginia 43
New York 3 -- Iowa 44
California 4 --- Missouri 45
Massachusetts 5 -- Tennessee 46
Oregon 6 -- Georgia 47
Alaska 7 -- Oklahoma 48
Maryland 8 -- Alabama 49
Connecticut 9 -- Kansas 50
Rhode Island 10 -- Mississippi 51
Best Value States Dollar Value --- Worst Value States Dollar Value
Arkansas $1.17 --- Hawaii $0.85
Mississippi $1.16 --- New York $0.86
Alabama $1.16 --- California $0.87
West Virginia $1.14 --- New Jersey $0.87
Kentucky $1.14 --- Massachusetts $0.91
South Dakota $1.14 --- Maryland $0.92
Ohio $1.13 --- Washington $0.93
Oklahoma $1.13 --- Connecticut $0.94
Missouri $1.13 --- New Hampshire $0.94
Louisiana $1.12 --- Alaska $0.95
Taxes to Consider When Considering Where to Retire
US State- Highest Rates --- US State- Lowest Rates
California 13.3% --- North Carolina 4.99%
Hawaii 11% --- Illinois 4.95%
New Jersey 10.75% --- Utah 4.95%
Oregon 9.9% --- Oklahoma 4.75%
Minnesota 9.85% --- Colorado 4.55%
Vermont 8.75% --- Arizona 4.5%
Iowa 8.53% --- Michigan 4.25%
Wisconsin 7.65% --- Indiana 3.23%
Maine 7.15% --- Pennsylvania 3.07%
South Carolina 7% --- North Dakota 2.9%
Best States - Rank
Utah - 1
Vermont - 2
New Hampshire - 3
Washington - 4
Oregon - 5
Worst States - Rank
Kentucky - 46
Arkansas - 47
New Mexico - 48
Louisiana - 49
Mississippi - 50
Best States Rank
Alaska - 1
California - 2
Maine - 3
Massachusetts - 4
Florida - 5
Worst States Rank
Nebraska - 46
West Virginia - 47
New Mexico - 48
North Dakota - 49
South Dakota - 50
Best States - Rank
New Hampshire 1
Minnesota 2
Colorado 3
Nebraska 4 Iowa 5
Worst States - Rank
Louisiana - 46
Kentucky - 47
New Mexico - 48
West Virginia - 49
Mississippi - 50
Best and worst states for retirees
________
Sources.
1. Missouri Economic Research and Information Center
2. Wall St 24/7 and U.S. Bureau of Economic Analysis
3. : Tax Foundation
4. United Health Foundation
The pace of life typically slows down after retirement.
No more stressing over work deadlines, office politics, or trying to make ends meet in a city with a punishing cost of living.
The end of your career also poses new issues regarding how and where you should spend your free time now that you are not bound to a particular place.
The 10 Best and Worst States for Cost of Living, Rankings
The most expensive destinations for retirement, includes Hawaii, the Northeast and the West Coast. The Midwest and Deep South tend to be the least expensive retirement destinations,
Highest Cost of Living US States Rank --- Lowest Cost of Living States Rank
Hawaii 1 --- Indiana 42
District of Columbia 2 -- West Virginia 43
New York 3 -- Iowa 44
California 4 --- Missouri 45
Massachusetts 5 -- Tennessee 46
Oregon 6 -- Georgia 47
Alaska 7 -- Oklahoma 48
Maryland 8 -- Alabama 49
Connecticut 9 -- Kansas 50
Rhode Island 10 -- Mississippi 51
US States Where Your Retirement Dollar Is Worth the Most and Least, rankings.
Best Value States Dollar Value --- Worst Value States Dollar Value
Arkansas $1.17 --- Hawaii $0.85
Mississippi $1.16 --- New York $0.86
Alabama $1.16 --- California $0.87
West Virginia $1.14 --- New Jersey $0.87
Kentucky $1.14 --- Massachusetts $0.91
South Dakota $1.14 --- Maryland $0.92
Ohio $1.13 --- Washington $0.93
Oklahoma $1.13 --- Connecticut $0.94
Missouri $1.13 --- New Hampshire $0.94
Louisiana $1.12 --- Alaska $0.95
Best and Worst US States for Retirement, 10 Highest to Lowest Income Tax Rates, Ranking.
Taxes to Consider When Considering Where to Retire
- State and local income taxes
- State and local sales taxes
- Property taxes
- How or whether a state taxes Social Security benefits
- State inheritance taxes
- State estate taxes
US State- Highest Rates --- US State- Lowest Rates
California 13.3% --- North Carolina 4.99%
Hawaii 11% --- Illinois 4.95%
New Jersey 10.75% --- Utah 4.95%
Oregon 9.9% --- Oklahoma 4.75%
Minnesota 9.85% --- Colorado 4.55%
Vermont 8.75% --- Arizona 4.5%
Iowa 8.53% --- Michigan 4.25%
Wisconsin 7.65% --- Indiana 3.23%
Maine 7.15% --- Pennsylvania 3.07%
South Carolina 7% --- North Dakota 2.9%
The 5 Best and Worst States for Senior Health Care if You’re a Retiree, 2021-22, rankings
Best States - Rank
Utah - 1
Vermont - 2
New Hampshire - 3
Washington - 4
Oregon - 5
Worst States - Rank
Kentucky - 46
Arkansas - 47
New Mexico - 48
Louisiana - 49
Mississippi - 50
The Top 5 Best and Worst States for Quality of Medicare, rankings
Best States Rank
Alaska - 1
California - 2
Maine - 3
Massachusetts - 4
Florida - 5
Worst States Rank
Nebraska - 46
West Virginia - 47
New Mexico - 48
North Dakota - 49
South Dakota - 50
Top 5 US States with the Best and Worst Quality of Life for Retirees, rankings.
Best States - Rank
New Hampshire 1
Minnesota 2
Colorado 3
Nebraska 4 Iowa 5
Worst States - Rank
Louisiana - 46
Kentucky - 47
New Mexico - 48
West Virginia - 49
Mississippi - 50
Overall Best and Worst US States for Retirement, scores by Each State, rankings.
| State | Cost of Living Rank | Senior Health Care Rank | Quality of Life Rank |
|---|---|---|---|
| Alabama | 3 | 44 | 43 |
| Alaska | 45 | 6 | 26 |
| Arizona | 33 | 30 | 37 |
| Arkansas | 11 | 47 | 44 |
| California | 48 | 38 | 40 |
| Colorado | 34 | 17 | 3 |
| Connecticut | 43 | 19 | 6 |
| Delaware | 36 | 9 | 10 |
| Florida | 27 | 25 | 24 |
| Georgia | 5 | 40 | 28 |
| Hawaii | 50 | 16 | 33 |
| Idaho | 31 | 13 | 29 |
| Illinois | 20 | 32 | 32 |
| Indiana | 10 | 24 | 22 |
| Iowa | 8 | 27 | 5 |
| Kansas | 2 | 35 | 20 |
| Kentucky | 17 | 46 | 47 |
| Louisiana | 16 | 49 | 46 |
| Maine | 39 | 18 | 38 |
| Maryland | 44 | 7 | 12 |
| Massachusetts | 47 | 9 | 9 |
| Michigan | 14 | 31 | 32 |
| Minnesota | 26 | 12 | 2 |
| Mississippi | 1 | 50 | 50 |
| Missouri | 7 | 43 | 17 |
| Montana | 28 | 23 | 39 |
| Nebraska | 19 | 21 | 4 |
| Nevada | 35 | 39 | 15 |
| New Hampshire | 37 | 3 | 1 |
| New Jersey | 40 | 20 | 14 |
| New Mexico | 12 | 48 | 48 |
| New York | 49 | 34 | 42 |
| North Carolina | 22 | 33 | 31 |
| North Dakota | 24 | 22 | 21 |
| Ohio | 13 | 28 | 30 |
| Oklahoma | 4 | 45 | 41 |
| Oregon | 46 | 5 | 36 |
| Pennsylvania | 32 | 15 | 25 |
| Rhode Island | 42 | 26 | 35 |
| South Carolina | 18 | 35 | 45 |
| South Dakota | 29 | 29 | 8 |
| Tennessee | 6 | 37 | 34 |
| Texas | 15 | 41 | 27 |
| Utah | 25 | 1 | 18 |
| Vermont | 41 | 2 | 22 |
| Virginia | 30 | 11 | 7 |
| Washington | 38 | 4 | 16 |
| West Virginia | 9 | 42 | 49 |
| Wisconsin | 23 | 8 | 13 |
| Wyoming | 21 | 14 | 11 |
Also Read worthy, How your state ranks for retirement, Full results
Best and worst states for retirees
To determine the best and worst states to retire, Bankrate analyzed multiple data points and assigned a weight to each category, including: Affordability (40%), Well-Being (20%), Culture and Diversity (15%), Weather (15%) and Crime (10%).
________
Sources.
1. Missouri Economic Research and Information Center
2. Wall St 24/7 and U.S. Bureau of Economic Analysis
3. : Tax Foundation
4. United Health Foundation
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