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The 15 Most Expensive States for Retirees to Call Home
The cost of living can have a major impact on retirement planning, and where you choose to live plays a bigger role than many expect. While some states offer affordability and financial flexibility, others come with significantly higher costs for housing, healthcare, utilities, and everyday essentials—expenses that can quickly strain a fixed income.
For retirees, these differences are especially important. Factors like property taxes, access to healthcare, and overall cost of living can determine how far savings and retirement income will go. States with strong economies and desirable locations often come at a premium, making it essential to weigh lifestyle benefits against long-term financial sustainability.
This ranking highlights the most expensive states for retirees right now, based on cost-of-living data across key categories. By understanding where costs are highest and what’s driving them, retirees and those approaching retirement can make more informed decisions about where to live and how to plan for the years ahead.
15. Maine
- Avg. cost of living in 2023: 109.9, or 9.9% more than avg
- Most expensive category: Housing — 117.4, or 17.4% more than avg
- Least expensive category: Grocery — 101.8, or 1.8% more than avg
- Median household income, 2022: $69,543 (19th lowest)
- Poverty rate, 2022: 10.8% (16th lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
14. Rhode Island
- Avg. cost of living in 2023: 110.7, or 10.7% more than avg
- Most expensive category: Housing — 116.8, or 16.8% more than avg
- Least expensive category: Transportation — 92.5, or 7.5% less than avg
- Median household income, 2022: $81,854 (16th highest)
- Poverty rate, 2022: 10.8% (17th lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
13. Connecticut
- Avg. cost of living in 2023: 112.8, or 12.8% more than avg
- Most expensive category: Utilities — 130.4, or 30.4% more than avg
- Least expensive category: Transportation — 100.4, or 0.4% more than avg
- Median household income, 2022: $88,429 (11th highest)
- Poverty rate, 2022: 9.8% (8th lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
12. New Jersey
- Avg. cost of living in 2023: 113.9, or 13.9% more than avg
- Most expensive category: Housing — 135.8, or 35.8% more than avg
- Least expensive category: Health — 99.3, or 0.7% less than avg
- Median household income, 2022: $96,346 (2nd highest)
- Poverty rate, 2022: 9.7% (7th lowest)
- Inflation rate, Feb 2024: 2.6% (for Middle Atlantic region)
11. New Hampshire
- Avg. cost of living in 2023: 114.1, or 14.1% more than avg
- Most expensive category: Utilities — 131, or 31% more than avg
- Least expensive category: Grocery — 102, or 2% more than avg
- Median household income, 2022: $89,992 (8th highest)
- Poverty rate, 2022: 7.2% (the lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
10. Oregon
- Avg. cost of living in 2023: 114.7, or 14.7% more than avg
- Most expensive category: Housing — 136.3, or 36.3% more than avg
- Least expensive category: Utilities — 95.9, or 4.1% less than avg
- Median household income, 2022: $75,657 (19th highest)
- Poverty rate, 2022: 12.1% (26th highest)
- Inflation rate, Feb 2024: 3.5% (for Pacific region)
9. Vermont
- Avg. cost of living in 2023: 115.3, or 15.3% more than avg
- Most expensive category: Housing — 133.1, or 33.1% more than avg
- Least expensive category: Grocery — 104.8, or 4.8% more than avg
- Median household income, 2022: $73,991 (21st highest)
- Poverty rate, 2022: 10.4% (12th lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
8. Washington
- Avg. cost of living in 2023: 116.0, or 16.0% more than avg
- Most expensive category: Housing — 128.7, or 28.7% more than avg
- Least expensive category: Utilities — 92.1, or 7.9% less than avg
- Median household income, 2022: $91,306 (7th highest)
- Poverty rate, 2022: 10.0% (9th lowest)
- Inflation rate, Feb 2024: 3.5% (for Pacific region)
7. Maryland
- Avg. cost of living in 2023: 116.5, or 16.5% more than avg
- Most expensive category: Housing — 146.4, or 46.4% more than avg
- Least expensive category: Health — 97.4, or 2.6% less than avg
- Median household income, 2022: $94,991 (3rd highest)
- Poverty rate, 2022: 9.6% (5th lowest)
- Inflation rate, Feb 2024: 3.9% (for South Atlantic region)
6. Alaska
- Avg. cost of living in 2023: 125.2, or 25.2% more than avg
- Most expensive category: Utilities — 157.9, or 57.9% more than avg
- Least expensive category: Transportation — 115.3, or 15.3% more than avg
- Median household income, 2022: $88,121 (12th highest)
- Poverty rate, 2022: 11.0% (19th lowest)
- Inflation rate, Feb 2024: 3.5% (for Pacific region)
5. New York
- Avg. cost of living in 2023: 125.9, or 25.9% more than avg
- Most expensive category: Housing — 176, or 76% more than avg
- Least expensive category: Utilities — 103.1, or 3.1% more than avg
- Median household income, 2022: $79,557 (17th highest)
- Poverty rate, 2022: 14.3% (9th highest)
- Inflation rate, Feb 2024: 2.6% (for Middle Atlantic region)
4. California
- Avg. cost of living in 2023: 138.5, or 38.5% more than avg
- Most expensive category: Housing — 198.8, or 98.8% more than avg
- Least expensive category: Health — 108.5, or 8.5% more than avg
- Median household income, 2022: $91,551 (6th highest)
- Poverty rate, 2022: 12.2% (24th highest)
- Inflation rate, Feb 2024: 3.5% (for Pacific region)
3. Massachusetts
- Avg. cost of living in 2023: 146.5, or 46.5% more than avg
- Most expensive category: Housing — 218.5, or 118.5% more than avg
- Least expensive category: Grocery — 105.3, or 5.3% more than avg
- Median household income, 2022: $94,488 (4th highest)
- Poverty rate, 2022: 10.4% (11th lowest)
- Inflation rate, Feb 2024: 2.1% (for New England region)
2. District of Columbia
- Avg. cost of living in 2023: 146.8, or 46.8% more than avg
- Most expensive category: Housing — 237.7, or 137.7% more than avg
- Least expensive category: Grocery — 105.4, or 5.4% more than avg
- Median household income, 2022: $101,027 (the highest)
- Poverty rate, 2022: 13.3% (14th highest)
- Inflation rate, Feb 2024: 3.9% (for South Atlantic region)
1. Hawaii
- Avg. cost of living in 2023: 180.3, or 80.3% more than avg
- Most expensive category: Housing — 313.1, or 213.1% more than avg
- Least expensive category: Grocery — 116.7, or 16.7% more than avg
- Median household income, 2022: $92,458 (5th highest)
- Poverty rate, 2022: 10.2% (10th lowest)
- Inflation rate, Feb 2024: 3.5% (for Pacific region)