Statistics About The Most Affordable States To Retire

In this post, we will explore the most affordable states to retire based on statistical data. From Mississippi being the top choice with a cost of living 14.5% below the national average to Oregon ranking as one of the least affordable states for retirement, we will analyze key factors such as cost of living, median home prices, household incomes, and more in various states across the US. So, if you’re looking to make informed decisions about your retirement destination, stay tuned for insightful findings.

Statistic 1

"Mississippi is the most affordable state to retire, with a cost of living 14.5% below the national average."

Statistic 2

"Oklahoma is the second most affordable state for retirees, with its living cost 13.9% below the national average."

Statistic 3

"Arkansas ranks third in being affordable for retirees, as its cost of living is 13.8% below the national average."

Statistic 4

"Tennessee is the fourth most affordable state, with the cost of living 13.6% below the national average."

Statistic 5

"Kentucky is the fifth most affordable state for retirees, with a living cost 13.2% below the national average."

Statistic 6

"Alabama comes sixth in the list of affordable states for retirees, as the living cost is 13.0% below the national average."

Statistic 7

"Indiana is the seventh most affordable state for retirement, with a cost of living that's 12.1% below the national average."

Statistic 8

"Missouri ranks eighth in affordability for retirees, with living costs 11.2% below the national average."

Statistic 9

"Michigan ranks ninth in affordability for retirement, with a cost of living 10.9% below the national average."

Statistic 10

"Georgia rounds out the top 10 most affordable states for retirement, with a cost of living 10.8% below the national average."

Statistic 11

"New Mexico has a median home cost of just $193,200, making it an affordable spot for retirees."

Statistic 12

"Virginia has one of the highest household incomes among retirees at $52,687."

Statistic 13

"Idaho has a cost of living that is just 2.9% above the national average with a median home cost of $303,100."

Statistic 14

"Indiana has one of the lowest costs of living index at 89.4."

Statistic 15

"The average retirement age in the most affordable state, Mississippi, is 63."

Statistic 16

"The state of Florida, known for being a popular retirement destination, ranks 21st nation-wide in cost of living."

Statistic 17

"West Virginia is the state with the lowest median property tax of $653."

Statistic 18

"The overall cost of living index in Tennessee is 87.6, making it one of the most affordable states for retirees."

Statistic 19

"Texas, despite its size and booming cities, has a cost of living that is 8.7% lower than the national average."

Statistic 20

"Oregon, despite its popularity, has a cost of living that is 34% higher than the national average, making it one of the least affordable states for retirement."

In conclusion, the statistics reveal Mississippi, Oklahoma, and Arkansas as the top three most affordable states for retirees, with Tennessee, Kentucky, and Alabama following closely behind. These states offer a cost of living significantly below the national average, making them attractive options for those looking to retire on a budget. On the other hand, states like Oregon stand out as less affordable due to their significantly higher cost of living. It’s clear that retirees should consider factors such as cost of living, median home prices, and property taxes when choosing a location for their retirement years.