The 12 Worst U.S States to Retire
Deciding where to retire is a significant decision, with climate, cost of living, healthcare access, and recreational opportunities often at the top of prospective retirees’ lists. However, not all states are created equal when offering a blissful retirement. Based on factors such as affordability, healthcare quality, and general quality of life, here are the 12 worst states to retire in the U.S.
Kentucky
Kentucky faces financial challenges with a high senior poverty rate of 9.4%, below-average income for seniors, limited healthcare facilities, and rising healthcare costs, impacting retirees’ financial and health decisions.
New Jersey
Data shows that New Jersey’s cost of living is about 13% higher than the national average, making it challenging for retirees on fixed incomes. The state has the highest property taxes in the nation, with homeowners paying around 2.33% of their home value annually. These economic factors and a state income tax that can hit 8.97% for top earners significantly impact New Jersey’s retirement attractiveness.
Mississippi
Mississippi has one of the lowest life expectancies at 71.9 years and a high poverty rate of 19.6%. Healthcare challenges include poor access and quality, while retirees face a median income of around $54,139, much below the national average.
Rhode Island
Despite its rich history and scenic coastlines, Rhode Island is not a top choice for retirees in the U.S. High living costs (ranked 32nd in affordability) and taxing conditions for seniors are key drawbacks.
Oklahoma
With 16.4% of the population aged 65+ facing poverty and over 8% experiencing frequent mental distress, Oklahoma poses challenges for retirees. The high crime rate, at 466.1 violent crimes per 100,000 residents, also impacts seniors’ quality of life, raising safety concerns for those considering it as a retirement spot.
Louisiana
Key factors contributing to its low ranking include subpar healthcare quality, as just 31.6% of seniors rate it as excellent or very good, and financial struggles due to a high poverty rate of 10.3% among the elderly, according to U.S. Census Bureau data. Safety is also a concern, with a violent crime rate of around 628 incidents per 100,000 residents.
Nevada
WalletHub’s 2022 study ranks Nevada 37th overall, highlighting lower scores in “access” and “outcomes.” High violent crime rates (4.5 incidents per 1,000 people) and limited social support for seniors (2.3 healthcare workers per 1,000 seniors).
Massachusetts
Living in Massachusetts costs about 30% more than the national average, making daily expenses and housing pricier for retirees. With a high state and local tax rate of about 10%, retirees see a sizeable chunk of their income go to taxes. Healthcare expenses are also steep, averaging $5,739 per person annually.
New York
Studies show that about 33% of retirees struggle with the high costs of everyday items in New York. New York’s combined income tax can go up to 10.9%, impacting retirees’ fixed incomes. Property taxes in New York are among the highest nationwide, adding to financial strain for those on fixed retirement incomes.
Washington
An analysis shows that living costs in Washington are much higher than the national average, with housing expenses 113% above the national average. The state also has a 9.17% sales tax, among the highest nationwide. These financial challenges, paired with a median home price of $540,000, make it challenging for retirees to sustain a comfortable lifestyle on a fixed income.
Arkansas
Arkansas’s low ranking is due to its higher crime rates, with violent incidents at 5.8 per 1,000 people, exceeding the national average. Arkansas also ranks 47th in healthcare quality and has a 17% poverty rate, well above the national average.
Illinois
Studies show that about 30% of Illinois retirees worry about living costs. Property taxes surpass 2.5% in some areas, much higher than the national average. With $211 billion in unfunded liabilities, the state’s pension crisis poses long-term financial stability concerns for retirees.
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