A new study from Bankrate shows Mississippi as one of the top five states to retire. Bankrate reports Mississippi is the fifth-best place to retire to, after top-ranked Iowa, Delaware, West Virginia and Missouri. A lower cost of living, affordable but high-quality healthcare and low crime are the reasons the states were ranked near the top of the list.
The Bankrate report puts Midwest and Southern states near the top and the Northeast and Western states by and large found themselves near the bottom.
Mississippi scored well on affordability, weather and crime but suffered in two other key categories, healthcare and overall well-being.
Nearby states to Mississippi in the report are Tennessee (20th), Arkansas (23rd), Alabama (14th), and Louisiana (41st).
Cheaper housing is one of the drivers toward where retirees choose to live.
“For many Americans, a comfortable retirement may feel out of reach,” Bankrate analyst Alex Gailey said. “After battling elevated inflation over the last two years, relocating to find cheaper housing or a lower cost of living may be a good alternative for retirees who have tighter budgets but want to retire comfortably.”
The American Association of Retired Persons (AARP) indicated that an increasing number of retirees left their home state to find cheaper housing in 2022.
To determine the best and worst states to retire, Bankrate analyzed multiple data points and assigned a weight to each category, including: affordability (40%), overall well-being (25%), quality and cost of healthcare (20%), weather (10%) and crime (5%).
Mississippi ranked second in affordability, 49th in quality/cost of healthcare, 46th in well-being, seventh in weather, and tied for 22nd in crime.
You can read the entire report on the Bankrate website.