Real Estate

Mass. is one of the worst states for retirees, website says

These three New England states, however, were named among the top 10 best.

By Sury Chakraborty

August 1, 2024

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What is the first thing that comes to mind when you think of retirement? If it’s watching a baseball game at Fenway Park, relaxing on the Cape shore, sailing off the South Coast, or kicking back in the Berkshires, I’ve got news for you. 

Retirement Living named Massachusetts one of the worst places to retire, with a score of 3.15 on a scale of 1 to 5, according to a report the website published June 14. 

The website analyzed 13 metrics across three categories, including cost of living, quality of life and Retirement Living (RL) score. “For each metric, we relied on government data sources, including the U.S. Census Bureau and the Federal Bureau of Investigation, as well as Retirement Living’s internal resources,” the methodology reads. 

The metrics included, but were not limited to, average home price, survey responses, population density, and number of hospitals per state. Retirement Living surveyed 1,075 people, aged 55 or older across the United States, asking them questions such as whether they are willing to move to a state with more a favorable retirement climate, rate of satisfaction with their current state in terms of retirement, and what factors they consider important when picking a place to retire.

The worst states for retirees

Massachusetts wasn’t the only New England state on the worst list, and it wasn’t the worst:

Massachusetts ranked 42nd for affordability and 37 for quality of life. The reason, according to the website, is that the state taxes most private pensions, 410(k)s, and investment income. It also has some of the highest home prices, according to US Census data. 

Rhode Island ranked 30th for affordability and 33rd for quality of life. The state also claims a chunk of your retirement income, according to the report. 

For Connecticut, the problem lies in renting. The state has the 11th-highest rental prices in the country, the report contends. So, it is a no-no for retirees looking to rent. About 77 percent of the Connecticut-based respondents of the survey said they would be willing to relocate to a more affordable state. It ranked 22nd for affordability and 20th for quality of life.

The site blasted California for having expensive homes and high gas and grocery taxes. The state also taxes retirement income. “When asked whether they’d be willing to move to another state, 57% of all respondents said yes,” the report said.

Here’s how all of the New England states fared:

The best states for retirees

Three New England states earned high marks and a spot in the top 10:

New Hampshire took first place with a No. 1 rank in affordability and a No. 2 position for quality of life. The report said there is no state tax for retirement income and no sales tax. Easy access to health care and tons of opportunities for recreation also make the state more enticing to retirees.

Maine tied with New Hampshire for the No. 1 spot for affordability and was praised for its great access to health care and very low crime rates. 

The scenic state of Vermont has a lot of exciting opportunities for recreation. The report cited the state’s outdoor recreation, rich history, and access to doctors and physicians, but said, “The sales tax rate in Vermont is average, and many essential items like groceries and prescription drugs are tax-exempt, which helps lessen the blow.” 

There are a number of factors to consider before picking a place to retire but, affordability and quality of life stood out as the most important ones, according to the survey respondents.

The website advised readers to consult a financial planner before relocating to another state.