Are you considering joining the growing ranks of retirees? Or perhaps you’re curious about where the senior population is most concentrated in the U.S.?
As of 2020, the U.S. Census Bureau has meticulously analyzed the distribution of Americans aged 65 and older, providing valuable insights into which states have the highest percentage of retirement-aged residents.
This blog post delves into the 21 states with the most significant retirement-aged populations, highlighting the unique attractions, benefits, and potential drawbacks of each, while also providing resources for further research into retrement destinations.
1. Maine – The Pine Tree State Beckons
- Maine leads the nation with a remarkable 21.8% of its population aged 65 and older.
- Quaint coastal towns and whale watching opportunities.
- Attractions like the Stephen King House in Bangor.
- Excellent healthcare accessibility and low crime rates offset the high cost of living.
2. Florida – The Sunshine State’s Enduring Appeal
- Florida closely follows Maine, with 21.3% of residents being of retirement age.
- Popular destination for “snowbirds” escaping colder climates.
3. West Virginia – Affordable Senior Living
- Over one-fifth (20.9%) of West Virginia’s population is 65 and older.
- Ranked as the third-best place to retire in a 2021 survey, due to affordable senior care facilities and quality healthcare.
4. Vermont -The Green Mountain Beckons
- Vermont ties Maine with 21.8% of retirement-aged residents.
- Offers many outdoor activities including 400 miles of hiking trails and 50 state parks.
5. Delaware – Tax-Friendly Haven
- 20% of Delaware’s population is 65 years and older.
- Attractive tax laws for retirees, including no state or local sales tax and no state taxes on social security income.
6. Montana – Big Sky Country
- 19.7% of Montana’s population is 65 years and older.
- Vast countryside for exploration.
- Only partially taxes social security income.
7. Hawaii – Island Paradise
- 19.6% of Hawaii’s population is 65 years and older.
- Ranked number one for excellent public health.
- Most expensive state in the U.S.
8. New Hampshire
- 19.3% of the population is aged 65 years and older.
- Retirement-friendly tax laws, including no personal income, estate, or inheritance tax.
9. Pennsylvania
- Just above 19% of the population is aged 65 years and older.
- No income tax on social security benefits and pensions starting at 60 years old.
10. South Carolina
- 18.7% of the population is aged 65 years and older.
- Low property taxes and tax deductions for seniors.
11. Oregon
- 18.6% of the population is aged 65 years and older.
- Outdoor attractions, including hiking at Crater Lake National Park and golfing.
12. Arizona
- 18.5% of the population is aged 65 years and older.
- More affordable than many states on this list.
- Numerous 55+ communities and over 300 days of sunshine annually.
13. New Mexico
- 18.5% of the population is aged 65 years and older.
- Ideal for history-loving seniors.
- Social security is exempt from state income taxes.
14. Rhode Island
- 18.2% of the population is aged 65 years and older.
- The smallest number of senior-aged residents per 1,000 people due to its small population.
15. Michigan
- 18.2% of the population is aged 65 years and older.
- More retirement-aged residents per 1,000 people compared to Rhode Island.
16. Connecticut
- 18.2% of the population is aged 65 years and older.
- Top ten list of states in the US for life expectancy and social support in 2023.
17. Wisconsin
- 18% of the population is aged 65 years and older.
- Beautiful coastlines on two Great Lakes, museums, and craft breweries.
18. Iowa
- 17.9% of residents are aged 65 years and older.
- No tax on social security income.
19. Ohio
- 17.9% of the population is senior-aged.
- Low cost of living.
20. Alabama
- 17.8% of the population is aged 65 years and older.
- Lower real estate and property taxes.
21. Wyoming
Key Points:
- 17.8% of the population is aged 65 years and older.
- No income taxes.
- No state taxes on pensions, social security, and distributions from IRAs and other retirement accounts.
Alicia Richards