- Insider Monkey has released its annual list of the most affordable states for retirees. South Dakota is ranked second, after Wyoming.
- Mount Rushmore State offers scenic landscapes, low living costs and a wide range of outdoor recreation opportunities.
- Florida, Tennessee and Delaware complete the list of five states where you can retire comfortably.
You’re not the only one who worries about high housing and living costs when you consider retirement.
Insider Monkey’s new list of affordable states for retirement in the U.S. reported that “the fear of outliving your retirement savings has grown more than ever before due to a variety of factors.” Social Security funds will be depleted in less than 10 years, people live longer and require more money to survive and Americans are unable to save as much due to high living costs.
The company updated its data based on the previous rankings and factors such as cost of living and housing affordability. It also looked at local taxes and health care access. States were given an InsiderMonkey score for their performance in every category. The highest scores are deemed “more advantageous to retirees who want to stretch their retirement income.”
You can also read about how to get in touch with us. South Dakota One of the most affordable states to retire in.
Insider Monkey said that South Dakota had previously been ranked as the best state to retire in America in 2024. It is one of the best states for retirees to live in, as it has no state income tax. Its scenic landscapes, outdoor activities and median home price, $320,900 make it an ideal choice for anyone looking for tranquility and affordability.
As the site previously noted in 2024, South Dakota is absolutely brimming with outdoor adventure spots, including the Black Hills, Badlands National Park, and numerous lakes and rivers ideal for a leisurely day of fishing or boating, or more active afternoons of hiking and wildlife viewing.
Approximately 18 percent of South Dakota’s population are 65 and older. South Dakota has also been named as a top state to retire in earlier this year. the best state for single seniors.
The winner of the top prize this year is Wyoming. Insider Monkey explained: “The state has the lowest cost of living, no state income tax, and the median home price is $275,000. This makes it the best option for retirees.” Its low cost-of-living, combined with its stunning natural beauty and vast open spaces, allows retirees to enjoy a financially secure and peaceful retirement.
Florida is ranked third. The third place is Tennessee, followed by Delaware and Delaware.
Find out the complete list of retirement destinations that are financially responsible at insidermonkey.com.
