The 10 Best States for Retirement in 2024 - Livability.com (2024)

Ready to retire? Based on affordability, health care and lifestyle, these are the 10 best states for retirees to spend their golden years.

By Kayla Walden on July 31, 2024

Entering a season of retirement can bring on some big feelings, and the last thing you want to be fretting over is where to spend your golden years. Fortunately, you don’t have to do all the heavy lifting when it comes to narrowing down the list of best states to retire in the U.S. WalletHub looked at all 50 states, studying everything from tax rates to health care access and entertainment, and came up with the best and worst states to retire in 2024. Here, we focus on the 10 best states for retirement. So, without further ado, let’s dive in!

1. Florida

It should come as no surprise that Florida tops the list of the best states for retirement. An abundance of warm weather and miles of sandy beaches are just the tip of the iceberg when it comes to retiring in the Sunshine State. Florida is well known for being one of the most tax-friendly places to settle down, which makes it an appealing place to relocate when you’re about to transition to life on a fixed income. Because the state doesn’t tax income, including Social Security and investments and distributions, residents have more disposable income to put towards a higher quality of life. Paired with affordable property taxes, renowned medical services and a boatload of recreation and entertainment, Florida undoubtedly deserves its spot as the best state to retire in 2024.

Florida offers a wide variety of communities, from bustling cities to laid-back beach towns, to suit every lifestyle and budget. Residents can enjoy year-round warm weather in this adult playground, with numerous golf courses, tennis courts, nature preserves and miles and miles of sandy beaches. And, if you’re moving to Florida, here’s everything you need to know!

Read more about the best places to live in Florida.

2. Colorado

While the white coastal beaches appeal to a wide swath of retirees, some of us are more drawn to the staggering mountains and rushing rivers of places like Colorado. There are countless reasons to move to Colorado, but does anything sound better than spending your golden years in the Centennial State, surrounded by some of the most storied and inspiring landscapes the country has to offer (we’re looking at you, Rocky Mountain National Park)? Those looking for an active lifestyle can appreciate the unparalleled access to the outdoors and participate in activities like hiking, skiing, fishing, golfing and camping. Colorado’s emphasis on outdoor activities and access to fresh mountain air promotes a healthy lifestyle. And, if the outdoors isn’t your thing, there is still plenty to do in Colorado. Cities like Denver, Boulder and Colorado Springs are home to vibrant arts communities and have world-class museums, excellent foodie scenes and plenty of entertainment options, keeping residents entertained. While the cost of living can be high in certain spots, Colorado offers diverse communities that fit every budget. Top that off with a growing reputation for health care, low retirement taxes and a plethora of retirement communities, and it’s easy to see why Colorado tops the list of best states for retirement.

Read more about the best places to live in Colorado.

3. Virginia

Are you surprised to find Virginia ranked third on the list of best states for retirement in 2024? Even if it may not be the first place that springs to mind when you think about where you want to set up camp in your golden years, Virginia is a hearty contender with its blend of historic charm and modern amenities (like healthcare and ranch-style housing). The state offers retirees ample access to medical services, a rich tapestry of cultural attractions and enough outdoor activities to inspire people of all hobbies and interests. Virginia is a natural beauty, too; from the picturesque Blue Ridge Mountains to the sandy beaches of the Chesapeake Bay, there are plenty of places to plant your roots. And residents can pick from plenty of different communities, from historic Williamsburg with its stunning architecture and storied past to the skiing, hiking and fishing in Roanoke and miles and miles of shoreline; you can’t go wrong spending your golden years in Old Dominion.

Retirees can enjoy a lower tax burden in Virginia, without tax on Social Security benefits and generous deductions on other forms of retirement income. There are plenty of top-rated hospitals and medical centers, too, keeping residents in good health. And, on a serious note, Virginia offers residents some of the best elder-abuse protections in the entire country, making it both a physically and financially safe place for seniors to spend their time.

Read more about the best places to live in Virginia.

4. Delaware

If you loved growing up in New England and don’t want to retire far from family, you might consider settling in Delaware. In addition to coastal views and solid tax benefits, this small Mid-Atlantic state boasts everything from colonial landmarks and sightseeing to quiet weekends with your toes in the sand. Parking it here also puts you within easy driving distance of metropolitan hotspots like Philadelphia and Jersey City, and you can quickly get to New York City and Boston in a pinch.

Many retirees also appreciate the reasonable housing market and property discounts for seniors, which make a difference when living on a fixed income. Delaware is incredibly tax-friendly for retirees with no sales tax, no state tax on Social Security benefits, low property taxes and generous deductions on retirement incomes like 401(k)s and pensions. Additionally, Delaware has the lowest rate of poverty for those 65 and up! Residents here are in good health, too, with access to a robust network of hospitals, clinics and specialists. Delaware is a clear contender among the best states for retirement!

Read more about the best places to live in Delaware.

5. Wyoming

Searching for wide open spaces? Wyoming may be known for its cattle ranches and never-ending prairies, but it also happens to offer seniors a wealth of retirement lifestyle choices — from the quiet streets of Cheyenne to the tourism hubbub of Jackson Hole. The state boasts a laidback tax structure that doesn’t impose taxes on retirement income and has reasonably low property taxes, which can stretch those retirement dollars and increase your quality of life budget. On top of that, Wyoming offers seniors peace of mind with strong protections against elder abuse, one of the nation’s lowest violent crime rates and exceptionally clean air that’s quite literally a breath of fresh air for elders suffering from respiratory issues.

Of course, Wyoming is known for its natural beauty and breathtaking landscapes, including Yellowstone and Grand Teton National Parks. Thanks to all of that outdoor space, there are plenty of places to enjoy hiking, fishing, horseback riding and other outdoor activities. Wyoming’s small towns and cities are known for being tight-knit communities where residents look out for one another, so you’ll have an extensive network of neighbors who have your back. It is worth noting that while you’ll definitely get to experience all four seasons here, you will have to handle some strong winds and the occasional winter blizzard (or two) — a reasonable tradeoff considering all the benefits that landed Wyoming among the best states for retirement.

Read more about the best places to live in Wyoming.

6. Idaho

Known for potatoes, huckleberries and just about every gemstone you can imagine (hence the nickname ‘Gem State’), Idaho easily made the list of best states for retirement in 2024 — and the reasons are plentiful. This beautiful state may be a touch sparse, but it’s the perfect place to settle down if you love the great outdoors, want to experience all four seasons and are looking to live somewhere with low income and property tax burdens. Generally speaking, the cost of living in Idaho is lower than the national average so that retirees can stretch their money farther, and residents have access to ever-expanding health care systems that provide access to quality hospitals and medical professionals throughout the state. The state’s small and larger cities are known for their welcoming communities, particularly up north in areas like Coeur d’Alene (a former military post boasting a high count of senior residents) and Sandpoint.

Read more about the best places to live in Idaho.

7. New Hampshire

Did you know New Hampshire has one of the lowest crime rates in the country? That’s a pretty incredible perk for anyone wanting to spend their retirement years in a safe community. New Hampshire offers several tax advantages to residents, too, including no sales tax or state income tax, which can reduce retirees’ overall tax burden and give you more bang for your buck when on a fixed income. The state is dotted with towns and villages with their own charm, meaning there is a community for every lifestyle, from bustling downtowns to quiet rural spots. And, like most of New England, New Hampshire is near several major cities, and places like Boston, New York and Montreal are all within easy driving distance, making it an ideal place for those who love to travel and explore.

But wait, there’s more — you can find all manner of history, culture, food and performing arts in this vibrant and lively New England state, meaning there is never a dull moment and plenty of ways to fill your days. And don’t forget, this part of the country is renowned for leaf-peeping season, a period in autumn when the best decision you can make is to get outside and soak up the rich colors of the changing leaves. It’s not hard to see why New Hampshire ranks among the best states for retirement in 2024.

Read more about the best places to live in New Hampshire.

8. Minnesota

If you want a retirement rich in scenery and culture, Minnesota might surprise you with its myriad offerings. From the scenic parks and expansive lakes to the vibrant cities and diversity of cuisine, Minnesota is not only a great place to raise a family but also one of the best states to retire. Minnesota consistently earns high marks in numerous national rankings for overall quality of life. The cost of living is reasonable, especially when considering the price of budget items like groceries and housing, and the state’s health care regularly tops the chart for best in the country. Home to the world-renowned Mayo Clinic, it should come as no surprise that the state boasts a top-notch health care system with numerous hospitals, clinics and specialists, meaning that residents have access to quality care.

Known as the Land of 10,000 Lakes, Minnesota offers plenty of ways to spend your days outside, from fishing and boating to hiking and cross-country skiing. For a more metropolitan feel, the Twin Cities are cultural hubs with museums, theaters, art galleries and a diverse dining scene. Add in the variety of local events and festivals, friendly people and four distinct seasons, and it’s easy to see why Minnesota is one of the best states for retirement in 2024.

Read more about the best places to live in Minnesota.

9. Montana

Adventurous seniors wanting a fun-filled retirement will appreciate Montana’s breathtaking landscapes, including the Rocky Mountains and Glacier National Park, which provide endless outdoor adventures like hiking, fishing and bird watching. In addition to offering a robust four-season climate, this western state boasts a reasonable cost of living, storybook scenery and enough amenities to keep you busy for years to come, making a natural choice among the best states for retirees. Montana’s low population density means there are plenty of wide-open spaces for those seeking a slower pace of life, and the overall cost of living is generally lower than the national average.

Residents of the Treasure State hit the jackpot when it comes to stretching their money farther, as the state has developed a reputation for being one of the most tax-friendly states in the country, with no sales tax and relatively low property taxes. Social Security benefits aren’t taxed in Montana, a major advantage for retirees. Montana is known for its friendly, welcoming communities where neighbors look out for one another, so you’ll feel right at home in no time.

Read more about the best places to live in Montana.

10. Pennsylvania

Retiring on the East Coast can cost a small fortune, which is usually the opposite of what you want when you’re moving into a season of retirement. However, Pennsylvania is well-known for being one of the more affordable states along the coast, which makes it a top contender on the list of best states for retirement in 2024. Compared to neighboring states like New York and New Jersey, Pennsylvania offers residents a lower cost of living, especially when it comes to housing, and there are plenty of affordable (and awesome!) places to live in the Keystone State. Pennsylvania is also considered tax-friendly for retirees as they are not taxed on Social Security benefits, pensions or retirement account distributions. And residents here are in good health! Pennsylvania is home to renowned medical institutions and hospitals, ensuring retirees can access top-notch healthcare services.

But it isn’t all business and boring stuff in Pennsylvania; there are plenty of ways to fill your days here. Pennsylvania is a haven for history buffs and is home to iconic American landmarks like Independence Hall and Gettysburg. Residents can pick from vibrant cities to cozy communities all across the state and are near other major metropolitan areas like New York City and Washington D.C. Plus, the state offers diverse landscapes to choose from, like the rolling hills of Amish country, the rugged Allegheny Mountains and urban epicenters like Philadelphia. And, with four distinct seasons, it’s easy to get out and explore all year.

Read more about the best places to live in Pennsylvania.

This list was adapted from WalletHub.com‘s ranking of the best and worst places to retire in 2024.