When it comes to deciding where to retire, retirees look at many different factors including affordability, quality of life and health care.
The majority of people want to age in place, so the cost of homemaker services was another aspect that contributed to the overall rankings for each state, according to WalletHub’s Best & Worst States to Retire 2017, released Monday.
The areas with the least expensive homemaker services annually include Louisiana, West Virginia, Alabama, the District of Columbia and Mississippi, WalletHub found using the Genworth Cost of Care Survey 2016.
Each of these places ranged from annual costs of $34,892 to $38,608. On the flip side, the most expensive state for homemaker services is North Dakota coming in with a yearly cost of $63,972.
Looking at the big picture though, the states with the best overall ranking include:
1. Florida
2. Wyoming
3. South Dakota
4. Iowa
5. Colorado
Florida had the best affordability ranking, which looks at cost of living, general tax-friendliness as well as cost of in-home services, according to WalletHub.
South Dakota is also notable as it took second place in the health care ranking, which looked at nurses per capita, health care facilities per capita and emotional health.
On the flip side, the states found to be the worst for retirement included the following:
47. Hawaii
48. Connecticut
49. District of Columbia
50. Alaska
51. Rhode Island
Rhode Island has the worst affordability ranking and Washington D.C. has the worst quality of life ranking, which takes into account elderly-friendly labor market, crime rates, air quality and access to public transportation.
See all of the findings from WalletHub.
Written by Alana Stramowski
