Iowa may be one of the best states for retirement in the US in 2024, but it certainly doesn’t come out at the top. Discover our detailed ranking to uncover the Best State for Retirement in the US in 2024.
Meanwhile, here are our statistics on The Hawkeye State:
Insider Monkey Score: 26
IM Healthcare Rank: 18
Cost of Living Index: 90.3
Tax Friendliness: Tax Friendly
Is Iowa a good state for retirees? According to our IM study, it definitely is. Our list of best states to retire in the US in 2024 puts it at number two, due to the ideal balance it offers between cost of living, healthcare, and tax-friendliness. The cost of living in this state is 9.7% lower than the national average. Meanwhile, home prices in the state have been up 3.6% compared to last year. Yet, the median value of a home in the state is still quite affordable at $232,700.
For those wishing to rent, the median rent of a two-bedroom property in the state is a very affordable $1,000, notes Zillow. This implies Iowa is an affordable state to retire to, and living on your Social Security check is quite possible in this state. What makes the state even better is its tax-friendliness towards retirees. The tax-friendly state doesn’t tax retirement income for taxpayers aged 55 and above.
Iowa is also good in terms of healthcare. Retirees in the state receive high-quality healthcare in the state. Some of the best hospitals in Iowa are UI Health Care Medical Center on the University Campus, Audubon County Memorial Hospital, and UnityPoint Health – Iowa Methodist Medical Center. According to Seniorly, about 4 in 5 older adults own their homes. Affordable home prices are obviously one reason why there are more home-owners in the state.
That’s not all-the state of Iowa has more than 800 senior living options too. According to Senior Living, adult day care is pretty reasonable as well. The average cost of adult care in the state is $1,364 a month, and under the said amount, seniors can remain in supervised care during the day. Moreover, assisted living in the state costs an average $3,736 a month. This is lower than the average cost of assisted living in the US, which is an estimated $4,500 a month.
The state of Iowa also offers numerous recreational activities for seniors to enjoy their golden years. Home to state parks such as the Maquoketa Caves State Park and the Ledges State Park, retirees can explore scenic trails and caves, go picnicking, and even enjoy activities such as hiking. There are numerous golf courses available, plenty of museums and historical sites, and countless community festivals and fairs throughout the year.
For those contemplating a retirement to Iowa, it is one of the best states to retire on Social Security. Some of the best places within Iowa to retire on Social Security include Cedar Rapids, Sioux City, and Waterloo, to name a few. All in all, this state can be one of the best choices for seniors in their golden years.
