The Best State for Retirees

Nope, it's not Florida. A new study by Bankrate.com evaluated U.S. states by housing, quality of life, and cost of living, finding that South Dakota is actually the best state in the nation for retired Americans.

The weather may get a bit frosty in the Mount Rushmore state, but South Dakota has one great asset for retirees: lower median home prices. In South Dakota, the median home price is $239,000, $60,000 lower than the national median. South Dakota also scored highest in well-being metrics. Utah, Idaho, New Hampshire, and Florida rounded out the top five best states in the ranking, Realtor.com reports

On the other side of the spectrum are places that have either high taxes and a high cost of living or higher crime rates and fewer cultural and creative offerings. New York, not surprisingly, topped the list, because it costs so much to live there. Home prices were well above the national median, at $426,800, according to the most recent realtor.com data. That made the state the sixth most expensive in which to purchase a home.

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