Deciding where to live in retirement is one of the most important decisions many retirees in the United States need to make. While some may want to stay close to family and friends, others may prioritize affordable housing, a reasonable cost of living, and a low tax rate to maximize retirement income. Safety, access to health care, and climate are also big factors.
Using data from financial services company and personal finance website Bankrate, 24/7 Wall St. reviewed the best and worst states to retire. Bankrate analyzed multiple data points and assigned a weight to each category: affordability (40%), well-being (20%), culture and diversity (15%), weather (15%), and crime (10%).
According to the report, Georgia ranks as the second best place to retire among the 50 states. The state ranks fourth best in weather, its best performing category. This category takes into account climate data and the likelihood of natural disasters. Georgia’s worst performing category is culture and diversity. In this category, which takes into account venues for arts, entertainment, and recreation as well as the population’s racial and ethnic diversity, Georgia ranks 14th worst in the country.
Of the 10,516,579 people who reside in Georgia, 13.9% are 65 or older, the fourth smallest share among states, according to five-year estimates from the U.S. Census Bureau’s 2020 American Community Survey.
All data in this story is from Bankrate and the U.S. Census Bureau. A full methodological explanation is available here.
| Overall rank | State | Best category | Best category ranking (of 50 states) | Worst Category | Worst category ranking (of 50 states) | Population age 65 and older (%) |
|---|---|---|---|---|---|---|
| 1 | Florida | Culture and diversity | 1 | Crime | 27 | 20.5 |
| 2 | Georgia | Weather | 4 | Culture and diversity | 37 | 13.9 |
| 3 | Michigan | Affordability | 1 | Well-being | 39 | 17.2 |
| 4 | Ohio | Affordability | 11 | Culture and diversity | 34 | 17.0 |
| 5 | Missouri | Affordability | 3 | Crime | 42 | 16.9 |
| 6 | Kentucky | Weather | 3 | Culture and diversity | 50 | 16.4 |
| 7 | Texas | Affordability | 9 | Culture and diversity | 48 | 12.5 |
| 8 | Tennessee | Affordability | 2 | Crime | 45 | 16.4 |
| 9 | Pennsylvania | Crime | 12 | Weather | 33 | 18.3 |
| 10 | South Dakota | Affordability | 15 | Weather | 41 | 16.7 |
| 11 | West Virginia | Weather | 8 | Well-being | 48 | 19.9 |
| 12 | Mississippi | Affordability | 4 | Well-being | 50 | 15.9 |
| 13 | Arizona | Weather | 1 | Crime | 41 | 17.6 |
| 14 | Iowa | Crime | 12 | Weather | 31 | 17.1 |
| 15 | North Carolina | Affordability | 16 | Well-being | 38 | 16.3 |
| 16 | Illinois | Well-being | 13 | Culture and diversity | 31 | 15.7 |
| 17 | Wisconsin | Crime | 12 | Weather | 38 | 16.9 |
| 18 | Indiana | Affordability | 12 | Culture and diversity | 43 | 15.7 |
| 19 | Oklahoma | Affordability | 6 | Culture and diversity | 46 | 15.7 |
| 20 | New York | Well-being | 5 | Affordability | 42 | 16.5 |
| 21 | Virginia | Crime | 9 | Culture and diversity | 40 | 15.4 |
| 22 | Wyoming | Crime | 7 | Weather | 49 | 16.4 |
| 23 | New Hampshire | Crime | 1 | Weather | 45 | 18.1 |
| 24 | North Dakota | Well-being | 16 | Weather | 46 | 15.3 |
| 25 | South Carolina | Weather | 16 | Crime | 46 | 17.7 |
| 26 | New Jersey | Well-being | 3 | Affordability | 46 | 16.2 |
| 27 | Nevada | Culture and diversity | 11 | Crime | 40 | 15.8 |
| 28 | Colorado | Well-being | 7 | Weather | 44 | 14.2 |
| 29 | Arkansas | Affordability | 8 | Well-being | 49 | 16.9 |
| 30 | Nebraska | Well-being | 19 | Weather | 37 | 15.7 |
| 31 | Utah | Well-being | 10 | Culture and diversity | 47 | 11.1 |
| 32 | Massachusetts | Well-being | 1 | Affordability | 47 | 16.5 |
| 33 | Idaho | Crime | 6 | Weather | 43 | 15.8 |
| 34 | Rhode Island | Crime | 7 | Affordability | 44 | 17.3 |
| 35 | Minnesota | Well-being | 15 | Weather | 42 | 15.8 |
| 36 | Alabama | Affordability | 10 | Well-being | 46 | 16.9 |
| 37 | Kansas | Affordability | 20 | Culture and diversity | 45 | 15.8 |
| 38 | Oregon | Culture and diversity | 6 | Affordability | 40 | 17.6 |
| 39 | Louisiana | Weather | 6 | Crime | 48 | 15.4 |
| 40 | Delaware | Culture and diversity | 2 | Affordability | 39 | 18.8 |
| 41 | Washington | Well-being | 9 | Affordability | 38 | 15.4 |
| 42 | Hawaii | Well-being | 2 | Affordability | 50 | 18.4 |
| 43 | Connecticut | Crime | 4 | Affordability | 48 | 17.2 |
| 44 | Maryland | Well-being | 4 | Affordability | 43 | 15.4 |
| 45 | Vermont | Culture and diversity | 3 | Affordability | 45 | 19.4 |
| 46 | Montana | Culture and diversity | 10 | Weather | 47 | 18.7 |
| 47 | New Mexico | Weather | 12 | Crime | 50 | 17.4 |
| 48 | California | Well-being | 6 | Affordability | 49 | 14.3 |
| 49 | Maine | Crime | 2 | Weather | 50 | 20.6 |
| 50 | Alaska | Culture and diversity | 26 | Crime | 49 | 11.9 |
by Samuel Stebbins, 24/7 Wall St. via The Center Square
