Share to Facebook Share to Twitter Share to Linkedin A surprising state was just named the best place to retire to. Pictured here: Dewey Beach, Delaware. getty When you think about retirement, you might picture sunny Florida with its warm climate and retirement communities.
But it’s not the best state to retire, according to a new report from Bankrate , which just issued its annual ranking of the best states to retire in the U.S. To come up with the comprehensive analysis, Bankrate used data from several sources, including the Tax Foundation, the Council for Community and Economic Research, the U.
S. Census Bureau and the National Oceanic and Atmospheric Administration. States were evaluated across five categories, including affordability (40%), overall well-being (25%), quality and cost of health care (20%), weather (10%) and crime (5%).
The winner? Delaware—one of the smallest states in the U.S.—was named the best state to retire to in 2024.
This is up one spot from 2023, when it ranked number two. So why did it win this year? Delaware offers a variety of benefits that make it attractive to retirees. A big draw: Delaware has a tax-friendly environment.
The state doesn’t tax Social Security benefits and doesn’t have an inheritance or estate tax. Additionally, Delaware is one of the few states with no local or state sales taxes, making it financially appealing to residents on a fixed income. But it’s worth noting that Delaware ranks 20th for affordability—since t.