A dream retirement is living in a location that’s affordable, safe and popular with older residents. These were the considerations that MoneyRates.com took into account while looking for the most retirement-friendly states in the U.S.
It ranked the states across the country on five parameters—healthy environment, personal security, local economy, weather conditions, and popularity with older residents. By averaging each state’s ranking in these five categories, MoneyRates.com determined the 10 best states to retire.
Coming in at a surprising No.1 position was Iowa, with its across-the-board consistency on all parameters. Despite its high cost of living, Hawaii was the second alternative for people looking to retire in style. The Aloha state’s tropical climate offered an attractive alternative as did its record of life expectancy at age 65, which is longer in Hawaii than in any other state.
With its maximum number of clear weather days, Arizona was ranked third on the list especially for people who valued sunshine. On the downside though, it wouldn’t be ideal for those looking at security. With some of the highest incidents of property crime, Arizona is one of the worst states as far as home security is concerned, the study found.
It’s no surprise that Florida found a place among the top 5 states in these rankings. At No. 4, Florida has been associated with retirement for a long time, with the highest portion of residents aged 65 or older. However, despite its favorable climate conditions, the study found that like Arizona, Florida too had a high incidence of both property and violent crime—fifth-highest across the U.S. to be precise.
At No.5 Maine trailed Florida only in the proportion of its population that is aged 65 or older. But unlike Florida, Maine is one of the safest states in the country with the second-lowest rate of violent crime.
While Idaho, Vermont, and New Hampshire came in at sixth, seventh, and eighth rank respectively, Kansas and Virginia tied for the ninth spot in these rankings.