Iowa Named One of the Best States To Retire
The common trope is that the moment you retire, you should pick up your life and move to somewhere warm. A recent study might prove that the opposite should actually be the case!
When retirement age comes around, people typically flock to states like Florida and away from places with higher costs of living like New York or colder states like Minnesota.
I know I definitely would prefer to live in a warmer climate once I retire...
However, a recent study done by Bankrate found that maybe those colder Midwestern states might actually be an ideal place to move for retirement.
Bankrate ranked the best and worst states to move to for retirement. This list was based on multiple factors, such as; affordability, quality/cost of healthcare, well-being, weather, and crime rates.
The top ten worst states for retirement based off of these things were:
- New York
- North Dakota
It's when we get to the other end of this list that things start getting interesting. Iowa came out on top as the number one best state to retire in.
Sounds great and all, but just WHY is Iowa the best place to retire?
According to reports, the Hawkeye State's overall affordability is a great draw for many retirees. Iowa is the sixth cheapest state to live in, and in addition the lower housing costs also make it seem that much more appealing.
The national median for home prices comes to approximately $388,800.
Iowa's state median price for a home is approximately $239,400, which is well over $100,000 less than the national average.
In addition, Iowa does not tax Social Security benefits, so that can definitely be a draw for some retirees who are looking to relocate.
Here is the full list of the top ten states that were named the best to retire according to Bankrate:
- West Virginia
Stay up to date with everything going on in Eastern Iowa by downloading the free station app from the app store. Also, make sure to follow the station across all social media platforms so you can stay in the know about everything going on in our neck of the woods.