Here Are The 10 Worst US States To Retire In

Where to retire is one of the most significant decisions one can make – and requires one to consider numerous factors such as cost of living, healthcare, and overall well-being. A recent analysis by Bankrate.com sheds light on the states that rank the worst for retirees in 2024, and some of the results might surprise you.

How the Rankings Were Determined

Bankrate’s comprehensive study analyzed all 50 states based on five key categories, each weighted to reflect its importance in the retirement decision-making process:

1. Affordability (40%): This category examines the cost of living and taxes, which are crucial for retirees living on a fixed income.

2. Well-being (25%): This metric looks at factors such as a sense of community and entertainment options, which are important for maintaining a fulfilling retired life.

3. Healthcare (20%): Quality, cost, and access to health services are essential for older adults who often require more medical care.

4. Weather (10%): Average annual temperatures and natural disaster risks can greatly affect comfort and safety in retirement.

5. Crime (5%): Property and violent crime rates are also considered, as safety is a priority for most retirees.

Each state received an overall rank based on these categories, with a higher number indicating a worse ranking.

The 10 Worst States for Retirement

The analysis reveals a clear trend: the worst states to retire in are generally those that are both expensive and cold. Below are the top 10 states deemed least favorable for retirees:

Alaska: The Worst State to Retire In

Ranked as the worst state for retirement, Alaska fares poorly in nearly every category except for well-being. It is the coldest state in the country, which poses a significant challenge for older adults. Additionally, while Alaska benefits from no state income tax, the cost of housing, utilities, and healthcare is much higher than the national average.

As Visual Capitalist notes further, New York is the second-worst state for affordability and ranks below-average for weather and healthcare.

The affordability metric also drags down Washington and California, despite them scoring well on all other metrics except crime.

Perhaps most surprising however is Texas, the only southern state in the bottom 10. With no income tax, and warmer weather it should be retirement central. However, Bankrate ranks Texas third-last on “well-being,” affecting its overall score.