Nope, it's not Florida. A new study by Bankrate.com evaluated U.S. states by housing, quality of life, and cost of living, finding that South Dakota is actually the best state in the nation for retired Americans.
The weather may get a bit frosty in the Mount Rushmore state, but South Dakota has one great asset for retirees: lower median home prices. In South Dakota, the median home price is $239,000, $60,000 lower than the national median. South Dakota also scored highest in well-being metrics. Utah, Idaho, New Hampshire, and Florida rounded out the top five best states in the ranking, Realtor.com reports
On the other side of the spectrum are places that have either high taxes and a high cost of living or higher crime rates and fewer cultural and creative offerings. New York, not surprisingly, topped the list, because it costs so much to live there. Home prices were well above the national median, at $426,800, according to the most recent realtor.com data. That made the state the sixth most expensive in which to purchase a home.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development
