The 15 most expensive states to live in when you retire

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When deciding where to retire, affordability is crucial.
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ESB Professional/Shutterstock

If you’ve already decided when you want to retire, the next question is where.

While low crime rates, proximity to healthcare, and amenities such as movie theaters and golf courses are important, affordability is crucial.

As part of its recent ranking of the best and worst states to retire in, personal-finance site WalletHub also rated each state’s affordability.

To determine how much it costs to retire in each state, WalletHub considered cost of living, tax rates, tax friendliness on social security and pensions, and the annual costs of in-home services and adult day care. Read a full breakdown of the methodology here.

Below, we’ve highlighted the 15 states that clock in on the most expensive side of the spectrum, with Rhode Island earning the No. 1 spot. Notoriously expensive locales such as Hawaii and New York made a showing in the top 10 as well.

If you’re close to retirement – or getting an early start on your research – read on see the 15 most expensive places to end up.


15. Maine

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Portland, Maine.
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Jeff Gunn/Flickr

Affordability rank: 37

Quality of life rank: 7

Healthcare rank: 14


14. Alaska

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Palmer, Alaska.
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Cecil Sanders/Flickr

Affordability rank: 38

Quality of life rank: 50

Healthcare rank: 34


13. Maryland

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Annapolis, Maryland.
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Steven Frame/Shutterstock

Affordability rank: 39

Quality of life rank: 21

Healthcare rank: 27


12. Nebraska

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Omaha, Nebraska.
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Steve O’Donnell/Shutterstock

Affordability rank: 40

Quality of life rank: 28

Healthcare rank: 8


11. New Jersey

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Point Pleasant Beach, New Jersey.
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ESB Professional/Shutterstock

Affordability rank: 41

Quality of life rank: 27

Healthcare rank: 35


10. California

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San Francisco, California.
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Shutterstock

Affordability rank: 42

Quality of life rank: 8

Healthcare rank: 20


9. North Dakota

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Fargo, North Dakota.
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Shutterstock

Affordability rank: 43

Quality of life rank: 42

Healthcare rank: 6


8. Washington, DC

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Washington, DC.
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Shutterstock

Affordability rank: 44

Quality of life rank: 51

Healthcare rank: 9


7. Minnesota

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Minneapolis.
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photo.ua/Shutterstock

Affordability rank: 45

Quality of life rank: 2

Healthcare rank: 1


6. New York

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New York City.
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Shutterstock

Affordability rank: 46

Quality of life rank: 1

Healthcare rank: 30


5. Massachusetts

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Boston.
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Shutterstock

Affordability rank: 47

Quality of life rank: 3

Healthcare rank: 10


4. Vermont

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Montpelier, Vermont.
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Jay Yuan/Shutterstock

Affordability rank: 48

Quality of life rank: 10

Healthcare rank: 12


3. Connecticut

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Hartford, Connecticut.
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Sean Pavone/Shutterstock

Affordability rank: 49

Quality of life rank: 13

Healthcare rank: 15


2. Hawaii

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Maui, Hawaii.
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Shutterstock

Affordability rank: 50

Quality of life rank: 34

Healthcare rank: 3


1. Rhode Island

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Providence, Rhode Island.
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Richard Cavalleri/Shutterstock

Affordability rank: 51

Quality of life rank: 46

Healthcare rank: 29