The movie “Field of Dreams” famously asked if Iowa was heaven. While it may not be heaven, it’s now seen as the best state to retire in, according to a BankRate study.
Bumping Florida out of the top spot, Iowa ranked well in areas such as affordability, crime levels, and quality and cost of healthcare.
Iowa, which ranked 14th last year, also showed strong rankings this year in terms of cost of living, state health system performance, cost of healthcare per capita by state, adults 65 and older per capita, and combined state and local sales tax, BankRate said.
“People may be surprised not to see Florida, Georgia and Arizona in the top spots. But the states that were once popular for retirement have seen their cost of living rise so drastically. The housing market is so competitive in those states that it’s unaffordable for many,” Gailey said.
Florida ranked eighth in this year’s study, down from first place last year.
Gailey suggested the rankings serve as a starting point for soon-to-be retirees and retirees to explore different locations.
With states in the Midwest and South ranking as more affordable, retirees looking to stretch their budgets may want to consider them over northeastern or western states with higher costs of living.
The worst states to retire in? Alaska ranked last, with poor rankings in weather, crime, affordability, quality and cost of healthcare, and well-being. New York, California, Washington and Massachusetts rounded out the bottom of the list.
“In our overall ranking, the best and worst states for retirees are split geographically. The Midwest and the South claim the top five states, while the Northeast and West claim the bottom five states, primarily because of the differences in cost of living,” Gailey said.
“For many Americans, a comfortable retirement may feel out of reach,” Gailey said. “If you’re considering a late-life move to lower your cost of living in retirement, our rankings provide some food for thought.”
Bumping Florida out of the top spot, Iowa ranked well in areas such as affordability, crime levels, and quality and cost of healthcare.
Iowa, which ranked 14th last year, also showed strong rankings this year in terms of cost of living, state health system performance, cost of healthcare per capita by state, adults 65 and older per capita, and combined state and local sales tax, BankRate said.
“People may be surprised not to see Florida, Georgia and Arizona in the top spots. But the states that were once popular for retirement have seen their cost of living rise so drastically. The housing market is so competitive in those states that it’s unaffordable for many,” Gailey said.
Florida ranked eighth in this year’s study, down from first place last year.
Gailey suggested the rankings serve as a starting point for soon-to-be retirees and retirees to explore different locations.
With states in the Midwest and South ranking as more affordable, retirees looking to stretch their budgets may want to consider them over northeastern or western states with higher costs of living.
The worst states to retire in? Alaska ranked last, with poor rankings in weather, crime, affordability, quality and cost of healthcare, and well-being. New York, California, Washington and Massachusetts rounded out the bottom of the list.
“In our overall ranking, the best and worst states for retirees are split geographically. The Midwest and the South claim the top five states, while the Northeast and West claim the bottom five states, primarily because of the differences in cost of living,” Gailey said.
“For many Americans, a comfortable retirement may feel out of reach,” Gailey said. “If you’re considering a late-life move to lower your cost of living in retirement, our rankings provide some food for thought.”
