Retirement should feel like a reward.
Not a second job juggling housing costs and healthcare premiums.
But in these states, peace of mind comes with a hefty price tag.
We’re diving into the worst places to retire if you like your money where you can see it.
Like in your account — not in your heating bill.
1. New York
New York is ranked the worst state for retirement affordability.
Housing costs are high all over, especially in New York City.
The average rent for a one-bedroom apartment in NYC is over $3,500.
Groceries and utilities are also pricey.
Groceries can cost 25% more than the national average.
Electric bills are some of the highest in the country.
Living in New York during retirement could drain your savings fast.
Why it’s on this list: The state is one of the 10 most expensive in the U.S., with high rent, food, and utility costs.
2. New Jersey
New Jersey ranks second for high retirement living costs.
Its property tax rate is the highest in the country at 2.21%.
That means over $8,800 a year on a $400,000 home.
There are also income and sales taxes to consider.
Retirement income is only partially exempt.
Those exemptions phase out if your income is too high.
Retirees need about $1.2 million saved to live comfortably.
Why it’s on this list: It combines steep taxes and expensive housing costs.
3. Vermont
Vermont comes in third for poor retirement affordability.
It is one of the top 7 most expensive states to retire.
The cost of living is high, especially for healthcare and housing.
Property taxes are above average too.
Living here requires serious savings.
Experts say you need around $1.07 million saved.
That’s a steep price for rural charm.
Why it’s on this list: High healthcare, taxes, and home costs make Vermont pricey.
4. Massachusetts
Massachusetts is fourth on the list.
It’s another New England state with a high price tag.
Taxes are high.
So is the cost of day-to-day life.
Groceries, gas, and rent all add up fast.
Retirees need around $1.16 million for comfort here.
Living here in your golden years takes some gold.
Why it’s on this list: It is one of the top 7 most expensive retirement states.
5. Maryland
Maryland takes the fifth spot.
The cost of housing is high, especially near the D.C. area.
State taxes also hit retirees hard.
Maryland taxes some retirement income.
It also has both estate and inheritance taxes.
Living comfortably here takes a big nest egg.
Why it’s on this list: Housing and taxes are both major burdens.
6. Washington
Washington is sixth for high retirement costs.
While there’s no income tax, other costs are steep.
Housing is pricey, especially in Seattle.
Sales and gas taxes are among the highest.
Groceries and healthcare also cost more than average.
The lack of income tax doesn’t cancel out the rest.
Why it’s on this list: High housing and sales taxes make it hard on retirees.
7. Connecticut
Connecticut ranks seventh.
It is one of the top 7 most expensive states to retire.
Living here can cost you about $1.25 million in savings.
The state has high taxes on pensions and retirement accounts.
Housing and healthcare costs are also above average.
It’s not easy living here on a fixed income.
Why it’s on this list: It combines high taxes with expensive daily living costs.
8. Maine
Maine ranks eighth on this list.
It may seem quiet and affordable, but it’s not.
The cost of housing is higher than you’d think.
Property taxes and heating bills in winter are tough.
Healthcare access is also limited and expensive.
Living here means budgeting carefully in retirement.
Why it’s on this list: Heating and housing costs raise the price of retirement.
9. Illinois
Illinois is ninth on the list.
While it may look average at first, taxes are the issue.
The property tax rate is 2.27% — higher than New Jersey.
There are concerns about underfunded pensions and rising taxes.
Essential services may get cut in the future.
Retirees face high uncertainty here.
Why it’s on this list: The state has some of the highest property taxes in the U.S.
10. Oregon
Oregon rounds out the top ten.
It has no sales tax, but everything else is expensive.
Housing, especially near Portland, is costly.
Groceries and healthcare are also above average.
Oregon taxes most retirement income too.
Nature is great, but it comes at a cost.
Why it’s on this list: High living and housing costs outweigh the no sales tax perk.
11. Minnesota
Minnesota ranks eleventh for retirement affordability.
It has one of the highest tax burdens in the Midwest.
The state taxes Social Security income.
It also taxes pensions, 401ks, and other retirement savings.
Housing and healthcare costs are also higher than average.
Cold winters may mean higher heating bills too.
Why it’s on this list: High taxes on retirement income and high heating costs hurt retirees.
12. Rhode Island
Rhode Island lands at number twelve.
It may be small, but retirement costs here are big.
The average retirement savings needed is $1.09 million.
Housing and healthcare are pricey.
It also taxes a lot of retirement income.
Rhode Island is one of the top 7 most expensive retirement states.
Why it’s on this list: Taxes and high day-to-day costs make it tough on fixed incomes.
13. Hawaii
Hawaii ranks thirteenth.
It’s beautiful, but living there is very expensive.
The average annual retirement spending is over $117,000.
Everything costs more because it must be shipped in.
Housing prices are sky-high.
You’d need $2.2 million saved to retire here with comfort.
Why it’s on this list: It’s the most expensive state for retirement in the U.S.
14. Nebraska
Nebraska is fourteenth on the list.
Living costs may seem lower, but taxes are high.
It taxes Social Security income.
Pensions and 401ks are also taxed.
Property taxes are above the national average.
That can hit hard during retirement.
Why it’s on this list: It taxes Social Security and has above-average property taxes.
15. Pennsylvania
Pennsylvania is ranked fifteenth.
While it doesn’t tax Social Security or pensions, costs still add up.
Property taxes are high.
So are healthcare and housing in many areas.
Retirees also face rising utility costs.
Expenses vary a lot by region, but many pay too much.
Why it’s on this list: Property taxes and healthcare costs raise retirement expenses.
16. Iowa
Iowa is sixteenth.
It has modest living costs but high taxes for retirees.
The state taxes retirement income, including pensions and 401ks.
Property taxes are also on the higher end for the region.
Rural healthcare access can be a problem.
That adds risk and cost for retirees.
Why it’s on this list: Retirement income taxes and limited healthcare make it less ideal.
17. Wisconsin
Wisconsin ranks seventeenth.
Cold winters and high taxes are a problem here.
It taxes many types of retirement income.
Property taxes are well above the national average.
You may also face higher utility bills during winter.
It takes careful budgeting to retire here.
Why it’s on this list: High property taxes and winter heating costs strain budgets.
18. Kentucky
Kentucky is ranked eighteenth.
Living costs may be lower, but healthcare and taxes raise concerns.
The state taxes retirement income above certain levels.
Healthcare costs and access can be inconsistent.
Poverty rates for older adults are also higher here.
That can add stress during retirement.
Why it’s on this list: Income taxes and spotty healthcare access make retirement harder.
19. California
California is number nineteen.
It has a high cost of living, especially housing.
The median home price is around $750,000.
That’s nearly double the U.S. average.
Everyday costs, from gas to groceries, are also high.
Retirement here requires around $1.4 million saved.
Why it’s on this list: It’s one of the top 7 most expensive states to retire in.
20. New Hampshire
New Hampshire rounds out the list.
It has no sales or income tax, but costs are still high.
Property taxes are among the highest in the country.
Housing and healthcare are expensive.
Living here often costs more than people expect.
Those taxes can outweigh the income tax perk.
Why it’s on this list: Property taxes and rising home costs make it less affordable.