Deciding where to live in retirement is one of the most important decisions many retirees in the United States need to make. While some may want to stay close to family and friends, others may prioritize affordable housing, a reasonable cost of living, and a low tax rate to maximize retirement income. Safety, access to health care, and climate are also big factors.
Using data from financial services company and personal finance website Bankrate, 24/7 Wall St. reviewed the best and worst states to retire. Bankrate analyzed multiple data points and assigned a weight to each category: affordability (40%), well-being (20%), culture and diversity (15%), weather (15%), and crime (10%).
According to the report, Oklahoma ranks as the 19th best place to retire among the 50 states. The state ranks sixth best in affordability, its best performing category. This category takes into account overall cost of living as well as sales and property tax rates. Oklahoma's worst performing category is culture and diversity. In this category, which takes into account venues for arts, entertainment, and recreation as well as the population's racial and ethnic diversity, Oklahoma ranks fifth worst in the country.
Of the 3,949,342 people who reside in Oklahoma, 15.7% are 65 or older, the 13th smallest share among states, according to five-year estimates from the U.S. Census Bureau's 2020 American Community Survey.
All data in this story is from Bankrate and the U.S. Census Bureau. A full methodological explanation is available here.
Overall rankStateBest categoryBest category ranking (of 50 states)Worst CategoryWorst category ranking (of 50 states)Population age 65 and older (%)1FloridaCulture and diversity1Crime2720.52GeorgiaWeather4Culture and diversity3713.93MichiganAffordability1Well-being3917.24OhioAffordability11Culture and diversity3417.05MissouriAffordability3Crime4216.96KentuckyWeather3Culture and diversity5016.47TexasAffordability9Culture and diversity4812.58TennesseeAffordability2Crime4516.49PennsylvaniaCrime12Weather3318.310South DakotaAffordability15Weather4116.711West VirginiaWeather8Well-being4819.912MississippiAffordability4Well-being5015.913ArizonaWeather1Crime4117.614IowaCrime12Weather3117.115North CarolinaAffordability16Well-being3816.316IllinoisWell-being13Culture and diversity3115.717WisconsinCrime12Weather3816.918IndianaAffordability12Culture and diversity4315.719OklahomaAffordability6Culture and diversity4615.720New YorkWell-being5Affordability4216.521VirginiaCrime9Culture and diversity4015.422WyomingCrime7Weather4916.423New HampshireCrime1Weather4518.124North DakotaWell-being16Weather4615.325South CarolinaWeather16Crime4617.726New JerseyWell-being3Affordability4616.227NevadaCulture and diversity11Crime4015.828ColoradoWell-being7Weather4414.229ArkansasAffordability8Well-being4916.930NebraskaWell-being19Weather3715.731UtahWell-being10Culture and diversity4711.132MassachusettsWell-being1Affordability4716.533IdahoCrime6Weather4315.834Rhode IslandCrime7Affordability4417.335MinnesotaWell-being15Weather4215.836AlabamaAffordability10Well-being4616.937KansasAffordability20Culture and diversity4515.838OregonCulture and diversity6Affordability4017.639LouisianaWeather6Crime4815.440DelawareCulture and diversity2Affordability3918.841WashingtonWell-being9Affordability3815.442HawaiiWell-being2Affordability5018.443ConnecticutCrime4Affordability4817.244MarylandWell-being4Affordability4315.445VermontCulture and diversity3Affordability4519.446MontanaCulture and diversity10Weather4718.747New MexicoWeather12Crime5017.448CaliforniaWell-being6Affordability4914.349MaineCrime2Weather5020.650AlaskaCulture and diversity26Crime4911.9
via Oklahoma's Center Square News