Deciding where to live in retirement is one of the most important decisions many retirees in the United States need to make. While some may want to stay close to family and friends, others may prioritize affordable housing, a reasonable cost of living, and a low tax rate to maximize retirement income. Safety, access to health care, and climate are also big factors.
Using data from financial services company and personal finance website Bankrate, 24/7 Wall St. reviewed the best and worst states to retire. Bankrate analyzed multiple data points and assigned a weight to each category: affordability (40%), well-being (20%), culture and diversity (15%), weather (15%), and crime (10%).
According to the report, Mississippi ranks as the 12th best place to retire among the 50 states. The state ranks fourth best in affordability, its best performing category. This category takes into account overall cost of living as well as sales and property tax rates. Mississippi’s worst performing category is well-being. In this category, which covers multiple measures, including access to health care, access to food, and economic security, Mississippi ranks worst in the country.
Of the 2,981,835 people who reside in Mississippi, 15.9% are 65 or older, the 20th smallest share among states, according to five-year estimates from the U.S. Census Bureau’s 2020 American Community Survey.
All data in this story is from Bankrate and the U.S. Census Bureau. A full methodological explanation is available here.
| Overall rank | State | Best category | Best category ranking (of 50 states) | Worst Category | Worst category ranking (of 50 states) | Population age 65 and older (%) |
|---|---|---|---|---|---|---|
| 1 | Florida | Culture and diversity | 1 | Crime | 27 | 20.5 |
| 2 | Georgia | Weather | 4 | Culture and diversity | 37 | 13.9 |
| 3 | Michigan | Affordability | 1 | Well-being | 39 | 17.2 |
| 4 | Ohio | Affordability | 11 | Culture and diversity | 34 | 17.0 |
| 5 | Missouri | Affordability | 3 | Crime | 42 | 16.9 |
| 6 | Kentucky | Weather | 3 | Culture and diversity | 50 | 16.4 |
| 7 | Texas | Affordability | 9 | Culture and diversity | 48 | 12.5 |
| 8 | Tennessee | Affordability | 2 | Crime | 45 | 16.4 |
| 9 | Pennsylvania | Crime | 12 | Weather | 33 | 18.3 |
| 10 | South Dakota | Affordability | 15 | Weather | 41 | 16.7 |
| 11 | West Virginia | Weather | 8 | Well-being | 48 | 19.9 |
| 12 | Mississippi | Affordability | 4 | Well-being | 50 | 15.9 |
| 13 | Arizona | Weather | 1 | Crime | 41 | 17.6 |
| 14 | Iowa | Crime | 12 | Weather | 31 | 17.1 |
| 15 | North Carolina | Affordability | 16 | Well-being | 38 | 16.3 |
| 16 | Illinois | Well-being | 13 | Culture and diversity | 31 | 15.7 |
| 17 | Wisconsin | Crime | 12 | Weather | 38 | 16.9 |
| 18 | Indiana | Affordability | 12 | Culture and diversity | 43 | 15.7 |
| 19 | Oklahoma | Affordability | 6 | Culture and diversity | 46 | 15.7 |
| 20 | New York | Well-being | 5 | Affordability | 42 | 16.5 |
| 21 | Virginia | Crime | 9 | Culture and diversity | 40 | 15.4 |
| 22 | Wyoming | Crime | 7 | Weather | 49 | 16.4 |
| 23 | New Hampshire | Crime | 1 | Weather | 45 | 18.1 |
| 24 | North Dakota | Well-being | 16 | Weather | 46 | 15.3 |
| 25 | South Carolina | Weather | 16 | Crime | 46 | 17.7 |
| 26 | New Jersey | Well-being | 3 | Affordability | 46 | 16.2 |
| 27 | Nevada | Culture and diversity | 11 | Crime | 40 | 15.8 |
| 28 | Colorado | Well-being | 7 | Weather | 44 | 14.2 |
| 29 | Arkansas | Affordability | 8 | Well-being | 49 | 16.9 |
| 30 | Nebraska | Well-being | 19 | Weather | 37 | 15.7 |
| 31 | Utah | Well-being | 10 | Culture and diversity | 47 | 11.1 |
| 32 | Massachusetts | Well-being | 1 | Affordability | 47 | 16.5 |
| 33 | Idaho | Crime | 6 | Weather | 43 | 15.8 |
| 34 | Rhode Island | Crime | 7 | Affordability | 44 | 17.3 |
| 35 | Minnesota | Well-being | 15 | Weather | 42 | 15.8 |
| 36 | Alabama | Affordability | 10 | Well-being | 46 | 16.9 |
| 37 | Kansas | Affordability | 20 | Culture and diversity | 45 | 15.8 |
| 38 | Oregon | Culture and diversity | 6 | Affordability | 40 | 17.6 |
| 39 | Louisiana | Weather | 6 | Crime | 48 | 15.4 |
| 40 | Delaware | Culture and diversity | 2 | Affordability | 39 | 18.8 |
| 41 | Washington | Well-being | 9 | Affordability | 38 | 15.4 |
| 42 | Hawaii | Well-being | 2 | Affordability | 50 | 18.4 |
| 43 | Connecticut | Crime | 4 | Affordability | 48 | 17.2 |
| 44 | Maryland | Well-being | 4 | Affordability | 43 | 15.4 |
| 45 | Vermont | Culture and diversity | 3 | Affordability | 45 | 19.4 |
| 46 | Montana | Culture and diversity | 10 | Weather | 47 | 18.7 |
| 47 | New Mexico | Weather | 12 | Crime | 50 | 17.4 |
| 48 | California | Well-being | 6 | Affordability | 49 | 14.3 |
| 49 | Maine | Crime | 2 | Weather | 50 | 20.6 |
| 50 | Alaska | Culture and diversity | 26 | Crime | 49 | 11.9 |
