Republican and Democrat Senators Agree this is The Best State to Retire

Republicans and Democrats have found common ground.
Conservatives and liberals may not agree on everything, but one issue they agree upon is the best state for retirement.
According to Bankrate’s annual rankings, Delaware has been named the best state for retirement in 2024.
More From Newsweek Vault: Social Security Update: Is It Better to Take Social Security at 62, 67 or 70?
Retirement is one of life’s major milestones, and choosing where to spend the latter half of your life is a significant part of that watershed moment.
Newsweek has created this map using data Bankrate has compiled to provide a detailed ranking of the best and worst states for retirement.
Democratic State Senator Stephanie Hansen told Newsweek that low property taxes draw people into Delaware for retirement.
More From Newsweek Vault: These 9 Types of Low-Risk Investments Offer Maximum Rates
“My Senate district is located in one of the fastest-growing areas in Delaware. Here, in southern New Castle County and the Town of Middletown, many new residents are moving from New York, New Jersey, Pennsylvania, and other nearby states because of our relatively low property taxes and the proximity to the beach.”
Republican State Senator Eric Buckson also told Newsweek that Delaware’s low property taxes “attract” retirees.
More From Newsweek Vault: Best Place to Put Your Benefits: CD vs. High-Yield Savings Account
“Our state is known for its tax-friendly policies for retirees, including no state sales tax and favorable treatment of retirement income, making it an ideal place to enjoy a comfortable and financially manageable retirement.”
“Delaware has a lot to offer when it comes to living in your retirement years, starting with very low property taxes when compared to surrounding states.
“Delaware remains one of the least populated states yet still remains connected to major attractions like beaches as well as major cities like Baltimore, Philadelphia, and Washington, DC.
“The combination of a low cost of living while being centrally located in somewhat rural settings is what attracts many retirees to the first state in the union.”
Democratic State Senator Kyra L. Hoffner told Newsweek: “Delaware is the perfect place to retire, offering a blend of tranquility and convenience. With low taxes, vast open spaces, stunning beaches, and the perk of tax-free shopping, it provides everything you need for a peaceful and fulfilling retirement.
Deciding where to retire blends financial considerations with personal preferences—you might want to be near family, enjoy coastal living, seek affordability, or find a community with a strong sense of belonging.
This analysis considers the cost of living, health care expenses, and overall well-being. The methodology ranks states across five key categories: affordability (40%), overall well-being (25%), cost and quality of health care (20%), weather (10%), and crime rates (5%).
While Delaware leads the list, other top states, including West Virginia, Georgia, South Carolina, and Missouri, round out the top five states due to their affordability and livability.
The First State earned the top spot thanks to its tax-friendly environment. Delaware’s lack of sales tax, low property taxes, and relatively affordable healthcare make it particularly attractive to retirees.
In contrast, Alaska was ranked as the least favorable state for retirement. The state’s harsh winters, high living costs, and limited healthcare access make it less attractive for retirees. The state’s isolation and lack of a large retiree community further detract from its appeal.
New York, Washington, California, and North Dakota join Alaska at the bottom of the rankings for retirement.
The best and worst states for retirees are split geographically. The Midwest and the South claim the top five states, while the Northeast and West claim the bottom five states, primarily due to the cost of living.
New York State Assemblymember Marianne Buttenschon told Newsweek she “disagrees” with the report.
“I would have to disagree with the findings. New York State has a lot to offer! Specifically, the district I represent. The quality of life, outstanding opportunities, and hard-working and generous residents. I would invite the publisher to visit my district to draw personal conclusions.
Do you have a story Newsweek should be covering? Do you have any questions about this story? Contact [email protected]