The 5 best — and worst — states to retire in 2023, ranked

Mon, 07/31/2023 - 15:49

retirement — Florida didn't make the top-five best states to retire in.
Getty Images/Sean Gallup

A study by Bankrate analyzed the best — and worst — US states to retire in.
Iowa ranked as the best state to retire in thanks to its high affordability and low levels of crime.
Alaska ranked as the worst state to retire in due to its weather and high crime rate.

You might think Florida is the best state to retire in, but you'd be wrong.

Bankrate recently released its report on the best states to retire in for 2023. Multiple factors were considered, including affordability, overall well-being, weather, quality and cost of healthcare, and crime.

These categories were weighted according to importance in the life of retirees: affordability was worth 40% of the final score, crime 5%, quality and cost of healthcare 20%, weather 10%, and overall well-being 25%.

Keep reading to see whether your state made the top-five best states to retire in — or the worst.

Iowa ranked as the best state to retire in thanks to its high affordability and relatively low levels of crime.

Overall rank (1-50): 1

Affordability rank (1-50): 3

Quality/cost of healthcare rank (1-50): 11

Well-being rank (1-50): 31

Weather rank (1-50): 38

Crime rank (1-50): 12

Delaware ranked as the second-best state to retire in due to its high well-being and weather scores.

Overall rank: 2

Affordability: 18

Quality/cost of healthcare: 37

Well-being rank: 2

Weather rank: 8

Crime rank: 36

It was followed by West Virginia, which ranked highly as the most affordable state but had the most expensive healthcare costs.

Overall rank: 3

Affordability: 1

Quality/cost of healthcare: 50

Well-being rank: 26

Weather rank: 20

Crime rank: 16

Missouri came in fourth overall and fifth in terms of affordability.

Kansas City, Missouri.
Edwin Remsberg/Getty Images

Overall rank: 4

Affordability: 5

Quality/cost of healthcare: 28

Well-being rank: 32

Weather rank: 22

Crime rank: 42

Mississippi came in as the fifth-best state to retire in, thanks to factors including its weather and affordability.

A lighthouse overlooking Gulfport, Mississippi — Gulfport, Mississippi.
Richard T. Nowitz/Getty Images

Overall rank: 5

Affordability: 2

Quality/cost of healthcare: 49

Well-being rank: 46

Weather rank: 7

Crime rank: 22

Though beautiful, Alaska ranked as the worst state to retire in, according to the Bankrate study.

Overall rank: 50

Affordability: 43

Quality/cost of healthcare: 38

Well-being rank: 27

Weather rank: 50

Crime rank: 49

New York was named the fourth-worst state to retire in due to its poor affordability and weather rankings.

New York City — New York.
Alexander Spatari/Getty Images

Overall rank: 49

Affordability: 50

Quality/cost of healthcare: 30

Well-being rank: 4

Weather rank: 37

Crime rank: 15

Despite its high score for weather, California scored low on the list as the second-most expensive state.

Laguna Beach in California.
TraceRouda/Getty Images

Overall rank: 48

Affordability: 49

Quality/cost of healthcare: 6

Well-being rank: 15

Weather rank: 12

Crime rank: 38

Washington also ranked low on the list, despite its high-quality healthcare.

Overall rank: 47

Affordability: 47

Quality/cost of healthcare: 2

Well-being rank: 30

Weather rank: 34

Crime rank: 34

Massachusetts ranked low in the weather and affordability categories, ultimately being named the fifth-worst state to retire in.

Boston, Massachusetts.
DenisTangneyJr/Getty Images

Overall rank: 46

Affordability: 48

Quality/cost of healthcare: 27

Well-being rank: 11

Weather rank: 31

Crime rank: 10

Read the original article on Business Insider

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The 5 best — and worst — states to retire in 2023, ranked