Massachusetts named one of the worst states to retire

Massachusetts is one of the worst states in the country to retire, according to Bankrate, which looked at the cost of living, public health, culture, affordability, and weather, among other metrics for its report, released Monday.

The Bay State ranked 46th on the list. The worst states were:

50. Alaska
49. New York
48. California
47. Washington
46. Massachusetts

Given that Boston has two of the nation’s elite hospitals, health care quality wasn’t an issue. It’s likely the cost of living that keeps Massachusetts on the list (last year it ranked 47th on affordability): Prices for single-family homes and condos broke records in June.

It appears to be costs overall, according to Alex Gailey, author of the report.

“We see Massachusetts at the bottom of the ranking (No. 46) because of its high cost of living – not just housing but also health care, food, transportation, utilities, everyday goods, and services,” Gailey said via email. “In terms of affordability, Mass. ranks No. 48. There are only two other states that are less affordable … Hawaii and California. Living in a state where the cost of living is high, like Massachusetts, isn’t ideal for retirees who are living on a fixed income and looking to stretch their retirement savings as much as possible.”

Massachusetts didn’t make the list of the “worst states for retirement overall” in 2022. Those spots went to Alaska, Maine, California, New Mexico, and Montana, in that order. The best states for retirement last year, in order, were Florida, Georgia, Michigan, Ohio, and Missouri.

Here’s where the rest of the New England states landed in this year’s accounting:

21. Connecticut
24. Rhode Island
27. Maine
28. Vermont
38. New Hampshire

If you like corn, chili paired with cinnamon rolls, and “Scotcheroos” (those are Rice Krispie treats made with butterscotch, peanut butter, and chocolate), you’ll love the state that topped this year’s list:

Iowa.

That may be because the site gave affordability the highest weight in its findings, and the median home value in the Hawkeye State is $211,054, which is up 6.3% since Aug. 1, 2022, according to Zillow. The site also cited the state’s affordable-but-high quality health care and low crime rate.

These were top states for retirees in 2023:
1. Iowa
2. Delaware
3. West Virginia
4. Missouri
5. Mississippi

How did the other states fare?

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