Cost of living: 87 percent above U.S. average
Population: 1.46 million
Best city: Maunawili
PROS: Maunawili on the island of Oʻahu is the most recommended city for retirees in the Aloha State. It features a golf course, beautiful hiking trails and is close to the Hawaii capital of Honolulu. Hawaii is widely known for its beautiful landscapes and abundant water sports.
CONS: Hawaii is expensive! The cost of living is a whopping 87 percent above average. That is even higher than the pricey California. According to Kiplinger, the average income for people 65 and over is above $71K, so that is something to consider. It is also expensive to get off the island, so visits to the grandchildren may become infrequent.
Cost of living : 4 percent above U.S. average
Population : 884,659
Best city : Hot Springs
PROS: The state famous for Mount Rushmore was ranked as one of the most tax-friendly states. South Dakota is not only affordable but extremely scenic. With many trails and views of mountains and prairies to enjoy.
CON: North Dakota is not ideal for those who don’t like icy weather and blizzards. It is extremely rural, with no big cities in sight, and is one of the least populated states in the nation. City lovers should probably go elsewhere.
Cost of living: 52 percent above the U.S. average
Population: 39.46 million
Best city: Beverly Hills
PROS: California is an inarguably beautiful place. It is the state that has everything: beaches, forests, deserts, and a variety of national parks. For those seeking a more fast-paced lifestyle, California also offers numerous big cities.
CONS: California is the state with the second-highest cost of living, only behind Hawaii. If you want to enjoy year-round sunshine, it’s going to cost you! Sadly, it seems like many people are paying the price, 19 percent of the population in California lives in poverty.
Cost of living : 14 percent below average
Population : 2.95 million
Best city : Eureka
PROS: The cost of living in Kansas is a whopping 14 percent lower than the national average, which may explain why Dorothy thought there was no place like home. The Sunflower State also has plenty to offer nature lovers with beautiful prairies and plains.
CONS: Due to its less than ideal financial situation, Kansas is raising taxes to resolve its budget deficit. Social Security and most other retirement incomes will be taxed with rates ranging from 3.1 to 5.7 percent. That is something that may affect your standard of living if you are on a tight budget.
Cost of living: 18 percent above the U.S. average
Population: 1.38 million
Best city: Gilford
PROS: New Hampshire is quite tax friendly for seniors, not taxing any of their retirement income. If you have health issues, the Granite State was ranked fifth for senior health by the United Health Foundation. It is also a beautiful place, with scenic New England landscapes and colorful autumn leaves that can’t be beat.
CONS: Beautiful scenery doesn’t come cheap, however. New Hampshire has a fairly high cost of living compared to the national average, but you may be able to make it work if you take the tax breaks into account. Plus, let’s not forget the weather. Freezing winters and humid summers may not be ideal for retirees.