29°
WalletHub released its 2025 list of Best and Worst States to Retire on Monday, Jan. 27. Florida claimed the No. 1 spot, followed by Minnesota, Colorado, Wyoming, and South Dakota in the top five.
The study ranked every state based on 46 retirement-related factors including affordability, quality of life, and healthcare access.
"Retirement is supposed to be relaxing, but it can also be incredibly stressful given that it typically puts people on a fixed income, which may not be enough for them to live comfortably," said WalletHub analyst Chip Lupo. "As a result, the best states for retirees are those that have low taxes and a low cost of living to help retirees' budgets stretch as far as possible. Having access to excellent medical care and homemaking services is also crucial, especially for people who don't plan to retire in close proximity to their families."
Pennsylvania was the best Northeast state in sixth place overall, ranking in the top 10 for quality of life (fifth) and healthcare access (ninth). The Keystone State was also praised for relatively low in-home care costs, ranking fourth nationwide, and a vibrant cultural scene that enhances quality of life.
Just outside the top 10, Virginia claimed 11th place, supported by a 14th-place ranking for quality of life due to relatively mild weather and diverse recreational opportunities. The state also achieved a solid healthcare ranking (19th) and affordability ranking (21st), making it an attractive option for retirees seeking balance.
Massachusetts landed in 23rd place and was held back by being the second least-affordable state. The Bay State was boosted by having the second-best healthcare access and fourth-highest quality of life.
Retirees in Massachusetts also benefit from the country's third-highest life expectancy and third-lowest property crime rate. Still, the high cost of living may pose challenges for those on a fixed income.
Connecticut was ranked 29th overall and like its northern neighbor in Massachusetts, the state excelled in healthcare (sixth) but struggled in affordability (45th). The Constitution State was also 48th in WalletHub's taxpayer ranking.
New York ranked 35th overall, weighed down by its affordability score (47th). The Empire State did place 11th in healthcare and 10th in quality of life, making it an attractive option for retirees who can manage the state’s higher costs.
Retirees in New York can also enjoy the state's cultural and recreational opportunities, tying with California for most museums and theaters per capita. New York also finished just behind Massachusetts in fourth place for life expectancy.
Maryland ranked 36th overall, with affordability posing the greatest challenge at 44th. While its healthcare ranking (17th) and quality of life (25th) were at or above average, retirees may find challenges managing the Old Line State's higher taxes and cost of living.
New Jersey was ranked the Northeast's worst state for retirees and 45th overall. The ranking is a slight improvement from the Garden State's 49th-place finish in WalletHub's 2024 study.
Affordability remained near the bottom (46th) and New Jersey has the second-highest percentage of workforce-aged residents older than 65. Despite its financial hurdles, Jersey ranked well in healthcare at 12th in the country.
You can click here to see the full WalletHub study.
Click here to follow Daily Voice Hartford and receive free news updates.
