Here Are The 12 Best States In America For Retirement In 2018

When it comes to where to retire, and not all states are equal. A new report by Kiplinger ranks South Dakota, home of Mount Rushmore, as the best state in America for retirement in 2018. Also ranked high on the list was Hawaii (No. 2), Georgia (No. 3), North Dakota (No. 4), and Tennessee (No. 5).

What makes these states so great?

Affordability: the low cost of living and less expensive health care, to name a few.

The magazine ranked US states based on several factors, including household incomes, poverty rates, health care costs, tax burdens, living expenses, and economic wellness of the state itself.

Accordingly, these are the 12 best states in America for retirement in 2018:

12. South Carolina
Population: 4.8 million
Share of population 65+: 15.8%
Cost of living: 7% below the U.S. average
Average income for 65+ households: $43,340
Average health care costs for a retired couple: Below average at $408,343

11. Idaho
Population: 1.6 million
Share of population 65+: 14.3%
Cost of living: 5% below the U.S. average
Average income for 65+ households: $40,248
Average health care costs for a retired couple: Below average at $407,942

10. Utah
Population: 2.9 million
Share of population 65+: 10.0%
Cost of living: 4% above the U.S. average
Average income for 65+ households: $53,211
Average health care costs for a retired couple: Below average at $412,641

9. New Hampshire
Population: 1.3 million
Share of population 65+: 15.9%
Cost of living: 18% above U.S. average
Average income for 65+ households: $53,204
Average health care costs for a retired couple: $424,052

8. Florida
Population: 19.9 million
Share of population 65+: 19.1%
Cost of living: 1% above U.S. average
Average income for 65+ households: $51,187
Average health care costs for a retired couple: About average at $425,025

7. Virginia
Population: 8.3 million
Share of population 65+: 13.8%
Cost of living: 7% above U.S. average
Average income for 65+ households: $59,869
Average health care costs for a retired couple: Below average at $408,950

6. Alabama
Population: 4.8 million
Share of population 65+: 15.3% (U.S.: 14.5%)
Cost of living: 13% below the U.S. average
Average income for 65+ households: $44,934 (U.S.: $53,799)
Average health care costs for a retired couple: Below average at $404,922 (U.S.: $423,523)

5. Tennessee
Population: 6.5 million
Share of population 65+: 15.0%
Cost of living: 12% below the U.S. average
Average income for 65+ households: $47,891
Average health care costs for a retired couple: Below average at $411,617

4. North Dakota
Population: 736,162
Share of population 65+: 14.2%
Cost of living: 1% above U.S. average
Average income for 65+ households: $46,763
Average health care costs for a retired couple: Below average at $414,455

3. Georgia
Population: 10.1 million
Share of population 65+: 12.3%
Cost of living: 7% below the U.S. average
Average income for 65+ households: $50,607
Average health care costs for a retired couple: Below average at $404,460

2. Hawaii
Population: 1.4 million
Share of population 65+: 16.1%
Cost of living: 87% above the U.S. average
Average income for 65+ households: $71,997
Average health care costs for a retired couple: Below average at $375,273

1. South Dakota
Population: 851,058
Share of population 65+: 15.2%
Cost of living: 4% below the U.S. average
Average income for 65+ households: $43,712
Average health care costs for a retired couple: Below average at $415,297