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Louisiana ranks among the top 10 most affordable states to retire, according to a new study from Retirement Living, a national journal of retirement research.
Researchers analyzed each state’s housing costs, living expenses and tax friendliness to compile the ranking. Louisiana, they say, is the eighth most affordable state for retirees.
In Louisiana, the median monthly rent for a one-bedroom apartment is $932, the median home sale price is $255,000, monthly grocery spend per capita is $272, the average price per gallon of regular gas is $4, the average Medicare Advantage monthly premium is $13.35 and the average effective property tax rate is 0.55%.
West Virginia is the most affordable state to retire, followed by Mississippi, Alabama, Oklahoma, Arkansas, Kentucky, Missouri, Louisiana, Indiana and Kansas. Researchers describe the South as “the sweet spot for an affordable retirement.”
The most expensive state to retire, meanwhile, is California, followed by Hawaii, Washington, Oregon, Colorado, New Jersey, Massachusetts, Utah, New York and Minnesota.
