10 best, worst states to retire in 2022

Several Southern and Midwestern states make the best places to retire as poor affordability weighs down other states, according to 2022 rankings from Bankrate, a publisher offering financial comparison services on real estate, budgeting and retirement plans. 

The study analyzed data points on five weighted criteria: affordability (40 percent), well-being (20 percent), culture and diversity (15 percent), weather (15 percent) and crime (10 percent).

 

Four key takeaways from the top five states: 

1. Michigan's affordability is best in the nation, with a low cost of living and tax rate. 

2. Despite rising living costs, Florida's substantial population of people 65 and older keeps it at the top of the list overall. 

3. Missouri and Ohio's affordability and fair climates supersede subpar culture and well-being scores rank in the bottom half. 

4. Natural disasters are rare in affordable Georgia, but its population of those 65 and older and its entertainment scene are lacking, according to Bankrate. 

 

Bankrate's best states for retirement:

1. Florida

2. Georgia 

3. Michigan

4. Ohio

5. Missouri

6. Kentucky

7. Texas

8. Tennessee

9. Pennsylvania

10. South Dakota

 

Bankrate's worst states for retirement: 

1. Alaska

2. Maine

3. California

4. New Mexico

5. Montana

6. Vermont

7. Maryland

8. Connecticut 

9. Hawaii

10. Washington

 

View Bankrate's full ranking here

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