What Makes a State Great for Retirees?
Before we dive into our top picks, let’s chat about what turns an ordinary state into a retiree’s paradise. It’s kind of like finding the perfect pair of jeans – it needs to fit just right in all the right places.
- Low cost of living: We want our hard-earned savings to last longer than a Twinkie in a time capsule. According to the Missouri Economic Research and Information Center, the cost of living can vary by up to 40% between states!
- Affordable housing: Whether you’re looking to buy a cozy nest or rent a cool pad, you want options that won’t break the bank. The National Association of Realtors reports that median home prices can differ by over $500,000 between states!
- Top-notch healthcare: We want doctors and hospitals that’ll keep us healthier than a horse. The United Health Foundation’s America’s Health Rankings provides a comprehensive look at healthcare quality across states.
- Tax-friendly policies: We’re looking for states that let us keep more of our cash than Uncle Sam. Some states, like Florida and Texas, have no state income tax at all!
- Pleasant climate: Whether you’re a sun worshipper or a fan of four seasons, the weather should make you want to get out and enjoy life. The National Oceanic and Atmospheric Administration (NOAA) provides detailed climate data for each state.
- Plenty of activities: Retirement should be more action-packed than a summer blockbuster! We want places with enough going on to keep us busier than a one-armed wallpaper hanger.
- Safe neighborhoods: Because feeling secure in your home is as important as a comfy recliner. The FBI’s Uniform Crime Reporting Statistics give us the lowdown on safety across states.
- Strong sense of community: We want places where making friends is easier than pie, and you feel like part of something bigger than yourself.
Now that we know what we’re looking for, let’s check out the states that are rolling out the red carpet for retirees in 2024.
Best States for Retirees in 2024
1. Florida: The Sunshine State
Folks, get ready to trade your snow shovel for a sand shovel! Florida isn’t just for snowbirds anymore – it’s a year-round paradise that keeps getting better for retirees.
Weather: With an average of 237 sunny days per year, Florida is like a never-ending summer vacation. The average annual temperature is a comfy 70.7°F. You can kiss your winter coat goodbye!
Taxes: Florida’s tax situation is sweeter than key lime pie. There’s no state income tax, which means your retirement income stays in your pocket. Plus, there’s no inheritance or estate tax. According to the Tax Foundation, Florida ranks 4th in the nation for overall tax climate.
Cost of Living: While some spots might make your wallet sweat (we’re looking at you, Miami), many areas offer great value. The overall cost of living index is 97.9, just a tad below the national average of 100. Your dollar stretches further here than a piece of saltwater taffy!
Healthcare: Florida’s not messing around when it comes to keeping you in tip-top shape. It’s home to some heavy hitters like Mayo Clinic in Jacksonville and Cleveland Clinic in Weston. The state ranks 27th in overall healthcare according to U.S. News & World Report’s 2021 rankings.
Activities: Bored in Florida? That’s about as likely as a penguin in the Everglades! From world-famous theme parks to 1,197 miles of coastline, and over 1,250 golf courses, your biggest problem will be deciding what to do first.
Let’s take a closer look at some popular retirement spots:
- The Villages: This place is like a never-ending summer camp for adults. With over 50 golf courses, 100 recreation centers, and 3,000 social clubs, it’s impossible to be a couch potato here. The Villages is so popular, its population has grown by 37.8% since 2010!
- Sarasota: If you’re into culture, Sarasota’s got you covered. From the John and Mable Ringling Museum of Art to the Sarasota Opera, it’s a regular feast for the senses. Oh, and Siesta Key Beach? It’s been named the best beach in America multiple times by Dr. Beach.
- Naples: For those who like the finer things in life, Naples is your spot. It’s consistently ranked as one of the happiest and healthiest cities in the U.S. by the Gallup National Health and Well-Being Index.
2. Arizona: The Grand Canyon State
Hold onto your hats, folks! Arizona isn’t just cacti and tumbleweeds—it’s a retiree’s playground with more to offer than a Vegas buffet.
Weather: With a whopping 299 sunny days a year on average, you’ll get more vitamin D than a calcium supplement convention. The average temperature sits at a toasty 75.1°F. Sunscreen might become your new best friend!
Cost of Living: The index is 102.2, just a hair above the national average, but still reasonable. According to the Bureau of Labor Statistics, Arizona’s overall prices are about 2% higher than the national average, but that’s a small price to pay for all this sunshine!
Healthcare: Arizona’s not messing around with healthcare. You’ve got top-notch facilities like Mayo Clinic in Phoenix and Banner University Medical Center in Tucson. The state ranks 23rd in healthcare according to U.S. News & World Report’s 2021 rankings.
Activities: From hiking in the Grand Canyon (which attracts over 6 million visitors annually) to exploring art galleries in Sedona, there’s always something to do. Arizona is home to 22 national parks and monuments!
Taxes: While there is a state income tax, Social Security benefits are exempt, and there are other tax breaks for retirees. According to the Tax Foundation, Arizona ranks 23rd in the nation for overall tax climate.
Let’s zoom in on some retirement hotspots:
- Scottsdale: Known for its luxurious resorts and spas, Scottsdale is where you go to feel pampered. With over 200 golf courses in the area, you could play a different one every day for more than half a year! Scottsdale has been named one of the best cities for an active retirement by Forbes.
- Tucson: If you prefer a more laid-back vibe, Tucson’s your jam. It’s got a rich cultural heritage, and the Mexican food here? Chef’s kiss Plus, it’s home to the Saguaro National Park, where you can see cacti taller than your grandkids. Tucson was named one of the best places to retire by U.S. News & World Report in 2021.
- Prescott: Often called “Everyone’s Hometown,” Prescott offers small-town charm with a mild climate. The historic downtown Whiskey Row is a hoot, and nearby Watson Lake is perfect for kayaking or just admiring the unique rock formations. Prescott has been named one of the top places to retire by Money magazine.
3. Texas: The Lone Star State
Yeehaw, partners! Everything’s bigger in Texas, including the perks for retirees. Saddle up, because the Lone Star State is shining bright for those golden years.
Cost of Living: With an index of 91.5, your dollar stretches further here than a piece of salt water taffy. According to the Missouri Economic Research and Information Center, Texas has the 15th lowest cost of living in the nation.
Taxes: No state income tax is music to any retiree’s ears. And while property taxes can be a bit high, many counties offer exemptions for seniors. According to the Tax Foundation, Texas ranks 13th in the nation for overall tax climate.
Housing: From sprawling ranches to cozy condos, there’s something for every taste and budget. The median home price of $289,000 is easier to swallow than a piece of Texas BBQ. According to Zillow, Texas home values have gone up 18.6% over the past year!
Healthcare: Home to the Texas Medical Center in Houston, the largest medical complex in the world. It’s like a small city dedicated to keeping you healthy. Texas ranks 31st in healthcare according to U.S. News & World Report’s 2021 rankings.
Activities: Rich culture, professional sports teams, and landscapes ranging from hills to beaches. You can go from watching a rodeo to lounging on a beach in the same day. Texas has over 80 state parks covering nearly 630,000 acres!
Let’s mosey on over to some popular Texas towns for retirement:
- Austin: Known for its vibrant music scene and outdoor activities, Austin is like the cool grandpa of Texas cities. You can paddleboard on Lady Bird Lake in the morning and catch a live band on Sixth Street at night. Austin has been named the best place to live in the U.S. by U.S. News & World Report for three years running.
- San Antonio: Rich in history with a beautiful riverwalk and diverse culture. The Alamo isn’t the only thing to remember here – the food scene is unforgettable too. San Antonio’s River Walk attracts over 14 million visitors annually.
- Fredericksburg: A slice of Germany in Texas Hill Country, known for wineries and a charming Main Street. It’s like taking a European vacation without the jet lag. Fredericksburg has over 50 wineries and vineyards in the surrounding area!
4. Tennessee: The Volunteer State
Listen up, y’all! Tennessee is making sweet music for retirees, and it ain’t just coming from Nashville. This state hits all the right notes when it comes to retirement living.
Cost of Living: One of the lowest in the country at 88.7. According to the Missouri Economic Research and Information Center, Tennessee has the 7th lowest cost of living in the nation.
Taxes: There is no state income tax on wages or retirement income, and property taxes are among the lowest in the U.S. According to the Tax Foundation, Tennessee ranks 8th in the nation for overall tax climate.
Weather: Four distinct seasons, but generally mild winters. The average annual temperature is a comfortable 58.4°F. You get to experience the beauty of all four seasons without the extreme cold.
Natural Beauty: From the Great Smoky Mountains (the most visited national park in the U.S. with over 12 million annual visitors) to serene lakes, outdoor lovers will think they’ve died and gone to heaven.
Music Scene: Not just country in Nashville—there’s blues in Memphis, and everything in between. Tennessee is home to over 180 recording studios!
Let’s tune into these Tennessee retirement spots:
- Chattanooga: Nicknamed “Gig City” for its ultra-fast internet, with a revitalized riverfront. It’s a perfect blend of tech-savvy and old-school charm. Chattanooga was the first U.S. city to offer gigabit internet speeds to all residents.
- Knoxville: Home to the University of Tennessee and gateway to the Great Smoky Mountains. You get the energy of a college town with the serenity of the mountains just a stone’s throw away. Knoxville has been named one of the best places to retire by Forbes.
- Maryville: A quiet suburb of Knoxville with a small-town feel and big-city amenities nearby. It’s consistently ranked as one of the best places to live in Tennessee by Niche.com.
5. South Carolina: The Palmetto State
Y’all ready for some Southern charm? South Carolina rounds out our top 5 with more appeal than a tall glass of sweet tea on a hot summer day.
Weather: Mild winters and warm summers make for year-round outdoor enjoyment. The average annual temperature is a comfortable 62.4°F. You can wave goodbye to your snow boots!
Cost of Living: At 95.9, it’s below the national average and easy on your wallet. According to the Missouri Economic Research and Information Center, South Carolina has the 23rd lowest cost of living in the nation.
Taxes: Friendly policies for retirees, including a $15,000 retirement income deduction for seniors. According to the Tax Foundation, South Carolina ranks 31st in the nation for overall tax climate.
Activities: Miles of beaches (187 miles of coastline to be exact), over 360 golf courses, and rich historical sites to explore. From Fort Sumter to Myrtle Beach, boredom is not in South Carolina’s vocabulary.
Healthcare: Good hospitals, particularly in larger cities like Charleston and Columbia. South Carolina ranks 36th in healthcare according to U.S. News & World Report’s 2021 rankings.
Let’s explore these South Carolina gems for retirement:
- Hilton Head Island: Upscale beach community with world-class golf courses. It’s like a permanent vacation where the biggest decision of your day is “beach or golf?” Hilton Head has been named the #1 Island in the Continental U.S. by Travel + Leisure magazine multiple times.
- Aiken: Known for its equestrian culture and charming downtown. Aiken hosts the annual Aiken Triple Crown, three weeks of horse events that attract visitors from around the world.
- Beaufort: Coastal living with antebellum architecture and a strong military community. Beaufort has been named “America’s Happiest Seaside Town” by Coastal Living magazine.
Comparison of Top Retirement States
Alright, folks, let’s break it down. From how far your dollar will stretch to how many of your new neighbors will be fellow retirees, it’s all here in black and white, let’s take a look:. Here’s a side-by-side look at our fantastic five:
| State | Cost of Living Index | Median Home Price | Tax-Friendliness (1-5) | Healthcare Rank | Avg. Temp (°F) | Crime Rate (per 1,000) | % of Population 65+ |
| Florida | 97.9 | $348,000 | 5 | 27 | 70.7 | 21.46 | 21.1% |
| Arizona | 102.2 | $379,000 | 4 | 23 | 75.1 | 24.96 | 18.0% |
| Texas | 91.5 | $289,000 | 5 | 31 | 64.8 | 25.63 | 13.0% |
| Tennessee | 88.7 | $263,000 | 5 | 35 | 58.4 | 29.59 | 17.0% |
| South Carolina | 95.9 | $268,000 | 4 | 36 | 62.4 | 33.25 | 18.2% |
Digging Deeper: Quality of Life Factors
This table is all about the little things that can make a big difference in your day-to-day life as a retiree. We’re talking about the air you breathe, the water you drink, and how easy it is to get around town. Now, let’s look at some factors that really make a difference in day-to-day life:
| State | Air Quality Index (AQI) | Water Quality Score (0-100) | Walkability Score (0-100) | Access to Parks (% within 10 min walk) | Public Transport Score (0-100) |
| Florida | 46 (Good) | 75 | 26 | 60% | 22 |
| Arizona | 50 (Good) | 60 | 41 | 56% | 32 |
| Texas | 52 (Moderate) | 80 | 33 | 54% | 28 |
| Tennessee | 48 (Good) | 70 | 28 | 57% | 18 |
| South Carolina | 45 (Good) | 65 | 25 | 51% | 15 |
Takeaways
Choosing where to retire is a big decision, but these states offer great options for the retirees in 2024. Whether you’re looking for sunny beaches in Florida, dry heat in Arizona, no income tax in Texas, affordability in Tennessee, or southern charm in South Carolina, there’s a perfect spot for you.
Remember, the best states for retirees in 2024 depends on your personal needs, preferences, and financial situation. Take your time, do your research, and maybe even try out a few places before making your final decision.
Happy retirement planning, and here’s to your next big adventure!
Sources
- U.S. News & World Report – Best States Rankings
- Kiplinger’s State-by-State Guide to Taxes on Retirees
- Missouri Economic Research and Information Center—Cost of Living Data Series
- National Healthcare Rankings by The Commonwealth Fund
- Zillow Home Value Index
- AARP Livability Index
