Meanwhile, Washington, DC, Massachusetts, California, and New York are the places where it costs more to retire comfortably.
AdvertisementAdvertisementThe south and midwest — which are home to the states with the cheapest cost of a comfortable retirement — have among the lowest regional price parities, which show comparisons of buying power across states and metro areas for a given year.
Alternatively, the typical home value in the states where it costs more to retire comfortably ranges from $425,011 in New York to $971,167 in Hawaii.
It costs $121,228 to retire comfortably in Hawaii, the only state with a six-figure amount.
Hawaii's higher transportation costs, limited housing, and elevated costs of goods that need to be shipped contributed to these high retirement costs.
Persons:
—, GOBankingRates, Rowe Price
Organizations:
Service, of Labor Statistics, Social
Locations:
Mississippi, Oklahoma, Alabama, Hawaii, Massachusetts, Oklahoma , Alabama , Kansas, Iowa, Washington, DC, California, New York