Iowa Is One of the Best Places to Retire in the Nation…Again!
The common trope is that the moment you retire, you should pick up your life and move to somewhere warm. Another recent study might prove that the opposite should actually be the case!
When retirement age comes around, people typically flock to states like Florida and away from places with higher costs of living like New York or colder states like Minnesota.
It turns out that some of the best places to retire aren't necessarily your typical vacation spots, some of them lean a bit colder.
Earlier this year, another study was done by Bankrate, and the team found that maybe those colder Midwestern states might actually be an ideal place to move for retirement.
Bankrate ranked the best and worst states to move to for retirement. This list was based on multiple factors, such as; affordability, quality/cost of healthcare, well-being, weather, and crime rates.
The top ten worst states for retirement based off of these things were:
- New York
- North Dakota
It's when we get to the other end of this list that things start getting interesting. Iowa came out on top as the number one best state to retire in.
A more recent study by CreditDonkey found accessed all fifty states and ranked them on nine factors: average salary, annual utility bills, annual medical costs, food and beverage expenditure, car insurance costs, house prices and tax rates, crime rates, population over 65, and average temperature.
This study saw a mixture of southern and midwestern states rank in the top five of the nation. Iowa actually came in at fourth on the list with a score of 60.91.
Here is the top five on this list:
Sounds great and all, but just WHY is Iowa the best place to retire?
According to reports, the Hawkeye State's overall affordability is a great draw for many retirees. Iowa is the sixth cheapest state to live in, and in addition the lower housing costs also make it seem that much more appealing.
The national median for home prices comes to approximately $388,800.
Iowa's state median price for a home is approximately $239,400, which is well over $100,000 less than the national average.
In addition, Iowa does not tax Social Security benefits, so that can definitely be a draw for some retirees who are looking to relocate.
Stay up to date with everything going on in Eastern Iowa by downloading the free station app from the app store. Also, make sure to follow the station across all social media platforms so you can stay in the know about everything going on in our neck of the woods.
Strangest Rental Properties In Iowa
Gallery Credit: Kerri Mac
Roseanne Barr Abandoned Iowa Mansion in Eldon, IA
Gallery Credit: Kerri Mac