Texas Ranks #1 for Retirement

Texas Overtakes Florida as Best State to Retire in 2023, Survey Shows

Texas has beaten Florida to claim the top spot as the best state to retire in 2023, according to a new ranking by banking and credit union library Bank Locations. The list considered factors like cost of living, quality of life, and access to healthcare.

Traditionally, Florida has been the go-to state for retirees looking for white sandy beaches, affordable real estate, and accessible healthcare. However, Texas has emerged as a new favorite among older Americans, with a high number of hospitals and senior living communities throughout the state, along with nice weather and cultural amenities like national parks and museums.

Michigan also beat out Florida to secure the second spot on the list, offering a low cost of living and high access to healthcare, making it an appealing choice for seniors on a budget. Florida came in at number three, scoring highly on quality of life but falling behind on affordability. The state has become increasingly expensive, with the average home price skyrocketing to $407,000 in 2022, up from $145,000 a decade ago.

Meanwhile, Delaware has been ranked as the worst state for seniors, according to the survey. High healthcare costs, along with a high crime rate, gave the state a low score for quality of life. Additionally, the state does not have enough affordable housing and lacks appropriate activities for seniors.