Wyoming is now the top state for retirees, narrowly beating Florida in a WalletHub study published earlier this year.
WalletHub ranked all 50 states on affordability, quality of life, and healthcare. Wyoming finished first on affordability because of a low cost of living when adjusted for retirees' needs. The state also has the seventh-lowest share of residents over 65 living in poverty, and it has no inheritance, estate, or state income tax.
Florida also has no inheritance, estate, or state income tax. But WalletHub analyst Chip Lupo said Florida's high real estate prices and home insurance costs helped push Wyoming ahead on affordability. Wyoming also scored well on quality of life, with a low crime rate and a high percentage of neighborly favors contributing to its ranking.
The downside is healthcare. Wyoming ranked 33rd in that category, and its remoteness means residents must travel farther than in many other states to access specialized care, Lupo said. The state also faces harsh winters and high altitude, which make it a poor fit for some retirees.
Casper, Wyoming, ranked as the 5th-best US city for retirement in a separate WalletHub study. But even there, lower healthcare performance and a relative lack of senior activities kept it behind Orlando, Miami, Tampa, and Scottsdale.
The playbook for retirees is simple: lower taxes and lower living costs can stretch a fixed income further, but the cheapest destination is not always the best one if healthcare is weak. Founders and investors know the same lesson — margins matter, but so does access. The places that look affordable on paper can get expensive fast when the hidden costs show up.
