In Part I of this article on the best states to live during retirement, we discussed the top five states for retirees as ranked by MoneyRates.com, along with the reasons why those states earned such high rankings. To refresh your memory, the first six states ranked in the top desirable states to your retirement years include: Colorado, Florida/New Mexico (tie), South Dakota, California/Texas (tie).
To determine how each state in the union ranks when it comes to attracting Americans aged 65 and older, MoneyRates.com relied on five key criterions, each of which can be supported with hard data. Although there are several other subjective factors retirees consider when deciding where they’ll spend their retirement years, the factors measured in this study — economic conditions, senior population growth, climate, crime rate and life expectancy — are quantifiable and objective.
Now that we know which locations occupy the first half of our list, we’ll now take a look at the five highest states on the list according to the research performed by MoneyRates.com:
5. Virginia: One of only two states east of the Mississippi River to earn a ranking on the list, Virginia earned good scores thanks to a low crime rate combined with the other criteria (save for life expectancy), all of which ranked “reasonably well.”
4. Arizona: Known for its year-round warm weather, Arizona has been attracting retirees for decades and for good reason — life expectancies for seniors are the third highest in the country. MoneyRates.com does caution, however, that Arizona has a relatively high crime rate.
3. Utah: Much like Idaho, Utah also has a fast-growing population of seniors, but it is most notable for its high ranking in economic factors.
2. Idaho: Somewhat astonishingly, Idaho has the third faster-growing senior population in all of the U.S. MoneyRates.com posits that this surprisingly high rank may be attributed to the combination of a good economy and a low crime rate.
1. Hawaii: Despite the fact that Hawaii has the highest cost of living in the nation, seniors live longer beyond age 65 than in any other state. What’s more, its consistently moderate and pleasant climate ranks second in the country.
Whether you’re looking to spend your retirement years in the East, West, North or South of the United States, you’ll find a representative state on this list. And thanks to the strong variety of hard-and-fast criteria, you can prioritize them in order of importance to you and to your retirement needs and desires. With such a diversity of states on this list, choosing a state to retire to should now be at least a little bit easier. If you’re interested in seeing where your state ranks, you can explore MoneyRates.com’s full 50-state rankings.