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How to manage your money at each stage of retirement
Bill Smith, WA Smith Financial Group, shares how you can manage your money at each stage of retirement.
For retirees looking to stretch their savings further, moving to a more affordable state could help reduce housing, living and tax costs.
A new ranking from Retirement Living analyzed all 50 states based on three categories – housing costs, cost of living and tax-friendliness – to identify the most affordable places for retirement.
The research comes as some retirees consider moving to states where their retirement income may go further.
West Virginia ranks as most affordable state for retirees
Big picture view:
West Virginia took the top spot as the most affordable state for retirees, rising 17 places from the previous year.
The state ranked No. 1 for both housing costs and overall cost of living. The median monthly rent for a one-bedroom apartment was $643, while monthly grocery spending per capita was $205 – both the lowest in the country, according to Retirement Living.
Mississippi ranked second for affordability for the second consecutive year. The state had a median home sale price of $260,430 in March 2026, the third-lowest in the nation, and ranked fourth-lowest for overall cost of living. Alabama came in third, benefiting from low living costs
West Virginia ranked the most affordable state for retirees, according to Retirement Living. (Credit: Getty Images)
Rounding out the 10 most affordable states were Oklahoma, Arkansas, Kentucky, Missouri, Louisiana, Indiana and Kansas.
What they're saying:
Jody D’Agostini, a certified financial planner based in New Jersey, told Retirement Living he has witnessed the pull of affordability on retirees firsthand.
"Increasingly, the conversations with retirees include whether they should consider a move from New Jersey, where I reside, to a more tax-friendly state in retirement," D’Agostini said. "This move could help maximize their retirement income and lower their tax burden."
Least affordable states for retirees
The other side:
At the other end of the ranking, California, Hawaii and Washington were identified as the three most expensive states for retirees.
Kristina Quesada, a San Diego real estate agent, told Retirement Living about the trends she’s witnessed locally in the most expensive state for retirees in the nation.
RELATED: How much do you need to retire? A state-by-state breakdown
"We continue to see retirees evaluate affordability differently depending on their priorities. Some are seeking lower-cost markets entirely," Quesada said.
But for those retirees wanting to stay put in the most expensive states for retirees, Quesada said, "Some retirees are also downsizing, relocating within the region, or using equity from longtime homeownership to help offset costs."
The Source: The information for this story was provided by Retirement Living. This story was reported from Los Angeles.