Where Should You Retire? A 9-Factor Framework to Get It Right
Where should you retire? Choosing the perfect retirement destination is actually a deeply personal and multifaceted decision. And frankly, most people love where they already live. However, if you want to relocate, you’ll want to carefully consider factors ranging from climate and cost of living to healthcare access and social connectivity. By understanding your retirement vision, conducting thorough research, and prioritizing your needs and preferences, you can identify the place that feels like home for this next chapter of your life.
Remember, retirement is not just about where you live, but how you live. Here are various criteria to consider when figuring out which state is best for YOUR retirement.
Home is Where the Heart Is
When considering the best state for you to retire, you probably first want to think about your loved ones. How close do you need and want to be to family and friends? For many people, this may be the most important factor when choosing where to live.
1. Community and Social Connectivity
Social connections are vital for a fulfilling retirement. Regardless of existing family and friends, retirees should seek out communities that foster social engagement and provide opportunities for meaningful connections with others. Explore general locales, retirement communities, social clubs, volunteer organizations, and recreational groups that align with your interests and values.
Building a supportive network of friends and peers can enhance your sense of belonging and well-being in retirement. And, having access to people and events that feel comfortable to you can be important.
2. Lifestyle Factors
Retirement is a time to indulge in your passions and interests. So, you ought to choose a locale that enables you to access the activities you want to do.
Consider the recreational and cultural amenities available in potential retirement destinations. Whether you enjoy outdoor activities like hiking, golfing, or fishing, or prefer cultural pursuits such as museums, theaters, and art galleries, ensure that your chosen locale offers opportunities for enrichment and enjoyment.
Not sure what you want to be doing in retirement? Explore 120 ideas for what to do in retirement.
3. Housing and Housing Affordability
TThere isn’t just one way to make housing work in retirement. In fact, the right answer often has less to do with where you live—and more to do with how you think about the tradeoffs.
Here are two very different approaches that both led to homes people love:
Home is where the heart is: I heard a couple on the radio who took a completely open-ended approach. They didn’t start with a location—they started with a goal: find a home they loved and could truly afford. They searched listings all over the country and eventually landed on a 3-acre property in a small town in Maine. It wasn’t about the state. It was about the feeling—and the financial fit.
Location. Location. Location: My mom took the opposite path. She had no interest in relocating, even though she lives in one of the most expensive cities in the U.S. Instead, she redefined what “affordable” looked like within that market. She found a beautiful home in a well-kept mobile home community with great amenities—allowing her to stay exactly where she wants to be, on terms that work financially.
Two very different decisions. Both completely valid.
The takeaway: affordability isn’t just about choosing the “cheapest” place on a map. It’s about aligning your housing choice with your priorities—whether that’s flexibility, familiarity, community, or lifestyle—and finding a way to make the numbers support that life.
Because in retirement, the goal isn’t just to spend less. It’s to live well—within a plan you can sustain.
States with the Most Affordable Housing: If you are curious, here are the five states with some of the best housing affordability: Mississippi, West Virginia, Arkansas, Alabama, and Kentucky.
4. Low State Tax Rates
Taxes can be a big line item in many retirement budgets. So, considering state taxes can be a critical factor in your decision about the best state for your retirement. State and local taxes can include income tax, property tax, sales taxes, estate taxes, and more.
Learn more about the best states for low taxes or compare a relocation scenario in the Boldin Retirement Planner –
- Run one scenario where you live now. Run another scenario with a relocation to another state. We’ll calculate your estimated tax burden for each scenario, and you can compare.
5. Overall Cost of Living
U.S. News and World Report ranked states by cost of living. They found that:
- Mississippi, West Virgina, Oklahoma, South Dakora, and Arkansas have the lowest cost of living
- Hawaii, California, New York, Massachusetts, and Alaska have the highest cost of living
6. Healthcare Access, Affordability, and Quality
Like it or not, you are going to need healthcare in retirement. And, you will want to make sure that where you live provides healthcare that is accessible, affordable, and of good quality.
Medicareguide.com did an analysis to help provide answers on which states provide the best healthcare for seniors. Overall, they ranked
- Minnesota, North Dakota, Massachusetts, California, and Nebraska are the top five
- Oklahoma, Georgia, Mississippi, Louisiana, and West Virginia are at the bottom
However, different states excel or fail at different criteria. Check out the best and worst states for quality and health outcome factors, accessibility factors, and costs in different categories.
Quality and Health Outcomes
| Quality Category | Best State | Worst State |
|---|---|---|
| Average Life Expectancy at Birth | Hawaii | Mississippi |
| Fall Deaths per 100,000 | Alabama | Wisconsin |
| Percentage of Adults with Type 2 Diabetes | Colorado | Alabama |
| Heart Disease Mortality | Minnesota | Oklahoma |
| Cancer Mortality | Utah | Mississippi |
| Stroke Mortality | New York | Mississippi |
| Alzheimer’s Mortality | New York | Mississippi |
Accessibility
| Access Category | Best State | Worst State |
|---|---|---|
| Number of PDP Plans | California | Alaska |
| Geriatricians Per Capita | Hawaii | Idaho |
| Physicians Per Capita | Washington, D.C. | Mississippi |
| Nurse Practitioners Per Capita | Connecticut | Hawaii |
| Home Health Aides Per Capita | New York | Florida |
| Skilled Nursing Facilities Per Capita | Vermont | New York |
| Medicare Rural Health Clinics Per Capita | Nebraska | Maryland |
| Share of Doctors Who Opt Out of Medicare | North Dakota | California |
| Public Hospital System Quality | Hawaii | Louisiana |
Affordability
| Cost Category | Best State | Worst State |
|---|---|---|
| Prescription Drug Prices Per Capita | North Dakota | Tennessee |
| Average Deductible for a Part D PDP Plan | Missouri | Illinois |
| Average Medicare Supplement Premium | New Mexico | Connecticut |
| Nursing/Assisted Living Home Per Capita | Wisconsin | Vermont |
| Average Medicare Advantage Max-Out-of-Pocket Amount | California | Wyoming |
| Average Medicare Advantage Premium | South Carolina | North Carolina |
| Out-of-Pocket Medical Spending | Utah | Washington, D.C. |
| Average Monthly Insurance Premium | Minnesota | Wyoming |
7. Walkability, Public Transportation, and Other Accessibility Factors
When deciding where to live, you’ll want to think about how you are going to get around. The experts say that being able to walk to activities can improve your quality of life and health. But maybe access to an airport or great public transportation is important to you.
8. Weather & Geography
Climate and geography are key considerations for many retirees. Some may crave the warmth of year-round sunshine, while others prefer the changing seasons. Coastal regions offer beachside living and ocean views, while mountainous areas boast scenic landscapes and outdoor recreational opportunities.
Consider how climate and geography will impact your daily life and overall well-being.
9. Natural Disasters and Other Risks
Hand in hand with weather are climate-related disasters. You may crave the warm tropical climate of Florida, but not want to deal with the threat of hurricanes. Arizona has extreme Summer heat. California has wildfires and earthquakes. Almost everywhere has potential risks and burdens related to natural disasters.
CoreLogic did an analysis of wildfire, inland flood, severe convective storm, winter storm, earthquake, and hurricane perils and decided that the following 10 counties are safest from natural disasters:
- McKinley, New Mexico
- Duchesne, Utah
- Conejos, Colorado
- Emery, Utah
- Summit, Colorado
- Pondera, Montana
- Saguache, Colorado
- Uintah, Utah
- Mesa, Colorado
- San Miguel, Colorado
10. Purpose & Identity
This is the deepest layer—and often the real driver. What will you do there? Does it satisfy who you want to be?
Where is Your Best State to Retire?
The reality is that most people stay put for retirement, but those who want to relocate have a lot to consider. Think carefully about your options. Use the Boldin Retirement Planner to run financial scenarios for the relocation.
Besides all of the quality of life issues, you’ll want to account for the financial factors, including:
- State income taxes (the Planner will do this automatically when you enter the relocation)
- Property tax changes (add to your recurring expense budget)
- Cost of living differences (reflected in your recurring expense budget)
- Medical cost changes (for after 65 costs, the Planner will do this automatically by location if you are using the estimation tool)
- Insurance costs (some areas have much higher costs than others)
