New Data Reveals the 5 Best States to Boost Your Retirement Savings in 2024

3. Alabama

Insider Monkey Score: 89

The state of Alabama scored 89, managing to get the third spot on our list. The cost of living index for the state is 87.6, which implies that living expenses in the state are 12.4% lower than the national average. It has one of the lowest average effective property tax rates, while the state sales tax rate is also a low 4%.