5 Best and Worst States for Retirement 2024

Retirement Living analyzed a mix of cost-of-living and quality-of-life metrics to arrive at these top (and bottom) retirement destinations

5 best states for retirement — Portsmouth, New Hampshire. Image credit: © Sean Pavone | Dreamstime.com

The beginning of the year is when a variety of organizations tend to release their new rankings of “best places to retire,” often along with the worst spots as well.

The team at Retirement Living has released a new report on the best and worst states for retirement in 2024. The report analyzed a mix of cost-of-living and quality-of-life metrics with a goal of steering seniors toward a retirement that is more achievable, affordable and livable.

Retirement Living used 13 metrics across three categories: cost of living, quality of life, and healthcare. The report relied on government data sources and a survey of 1,075 Americans aged 55+, as well as Retirement Living’s internal reviews. View the full methodology for more details.

The 2024 list of best and worst states for retirement looks quite different than in years past, the report notes. While factors like affordability and access to health care remain top of mind for seniors when choosing a place to live, consumer data sourced by Retirement Living suggests that current and future retirees in 2024 are even more focused on retirement-specific taxes and quality of life metrics.

Here are a few notable takeaways from the survey:

Nearly half (49.6%) of respondents said they’d be willing to move to a state with a more favorable retirement climate.
Those who mention taxes and expenses in their responses are more likely to be willing to move to a more favorable retirement state. Coincidentally, these respondents all hailed from states ranked as the “worst” for retirement.
Only 33% of respondents from the top three “best” states said they’d move to a more favorable state. This is compared to 60% of respondents currently living in the three “worst” states for retirement.
Respondents cite “affordability” as their most important consideration for determining where to retire; however, this year’s data shows an increase in the number of people who rated “quality of life” as their most important factor. Thirty-seven percent of respondents chose “quality of life,” 39% chose “affordability,” and 14% chose “healthcare.”