Top 3 States for Retirement 2025

1. Florida
“Florida is the best state for retirees due to its relatively low taxes for retired people, including no estate, inheritance or income taxes,” said Chip Lupo, WalletHub Analyst. “Florida also provides an ideal environment for retirees, with the second-most shoreline miles of any state, the second-most adult volunteer activities per capita, and the seventh-most golf courses and country clubs per capita. There are plenty of ways for seniors to stay healthy and happy, which is reflected in the fact that Florida has the third-lowest death rate in the country for people ages 65+.”
Plus, Florida receives more funding per senior from the Older Americans Act than all but two other states. This funds things like transportation, homemaker assistance and nutrition programs for seniors.
WalletHub notes the overall cost of living is pretty high in Florida compared to many other states—without mentioning annual hurricane risks that boost insurance costs—but that doesn’t stop the Sunshine State from taking the top spot for retirees. It still finished second overall for both affordability and quality of life, and 27thfor healthcare on the way to an overall score of 62.76.

2. Minnesota
Minnesota is the second-best state for retirement, in large part due to health reasons. Minnesota has the most health care facilities, the second-most nursing homes, and the third-most home health care aids per capita. Its geriatrics hospitals also rank as the fifth-best in the nation. Due to the great health care conditions within the state, Minnesota has the third-lowest percentage of seniors with a disability, the fourth-lowest percentage with poor mental health, and the fifth-highest percentage who are in good physical health.
When it comes to overall quality of life in Minnesota, the state has the 10th-best elder abuse protections in the country, which guard elderly residents against physical and financial harm. The state also has the 15th-lowest violent crime rate, and the fifth-highest percentage of people who do favors for their neighbors.
On the financial side, Minnesota has the 10th-lowest share of residents ages 65+ who are in poverty and the fifth-lowest percentage who went hungry in the last 12 months.
Earning a 62.74 overall score to barely miss out on the top overall spot, Minnesota ranked first for healthcare, sixth for quality of life and 27th for affordability.

3. Colorado
Colorado is the third-best state for retirees, offering taxpayer-friendly conditions with no estate or inheritance taxes. In addition, it has the seventh-lowest poverty rate for residents ages 65+ and the 10th-lowest percentage of seniors who have faced hunger in the past 12 months.
Colorado is a great state for retirees’ physical and mental health. It has one of the lowest rates of social isolation for seniors, and it boasts the 10th-best geriatrics hospitals in the country. It also has the fourth-highest percentage of seniors who are in good health and the third-highest percentage who are physically active.
On top of all that, Colorado has plenty to keep seniors active and engaged. For example, it has the sixth-most volunteer opportunities, the ninth-most scenic byways and the 11th-most theaters per capita.
With an overall score of 61.71, Colorado ranked 3rd for healthcare, 15th for affordability and 18th for quality of life.
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