A new report has revealed the best and worst US states for retirees based on crime rates, cost of living, life expectancy, property prices and population age.
· Revealed: Iowa is the best US state for retirement
· Alaska has been found to be the worst US state for retirement
The US is on track to reach a third of a billion people by 2020 as the population continues to increase year on year (1)
21% of all Americans are now over the age of 60 (2) as improved healthcare, lifestyle and medicines have increased the life expectancy of US citizens to 78.69 years of age (3)
With the population growing both in number and age, the competition for retirement real estate has never been as fierce with millions of American retirees starting to question where they want to spend out the rest of their days.
A new report by Blacktower Financial Management has revealed the best and worst states for retirees, using weighted metrics of cost of living, crime rates, life expectancy, property prices and population age.
(Image 1. US Retirement Index)
Revealed the best US states for retirement
With the 8th lowest property prices in the country Iowa scores better than average over all the ranking factors listed in the study. Known as the Hawkeye state, pending retirees may be flocking to Iowa to make the most of the low cost of living and its beautiful landscape of rolling plains and cornfields.
Second in the rankings is Minnesota or the ‘Gopher State’. With a low crime rate and a high population of citizens over the age of 60, retirees can enjoy socializing and mixing with a similar age group.
Revealed the worst US states for retirement
Unfortunately, Alaska has fallen to the bottom of the rankings for retirement. The remote and cold location doesn’t seem to appeal to the older generation as they look to seek an easier way of life.
Second to bottom was the island of Hawaii or the ‘Aloha state’. Expensive real estate and cost of living are driving retirees inland when looking for a retirement home.