Dec 10, 2018
Got Retirement Dreams? 8 Best Cold-Weather Places
They might be colder than average, but they’re also cheaper.
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If your dream retirement involves snow instead of sand, you’re in luck. Many of the cheapest and best places to retire are in cold-weather states.
If you’re more into skiing than sunbathing, you may find a cheaper cost of living in places like Bangor, Maine or Juneau, Alaska.
Retirement costs in states where temperatures dip well below the national averages could wind up saving you a bundle compared to states with sunnier climates.
What makes a place a “best place” to retire?
Of course, where you retire involves more than just day-to-day living expenses. Other factors include taxes, health care costs, state poverty rates, and the fiscal well-being of the state, not to mention the cultural life of a state.
So we have compiled this list of eight colder-weather states* with a well-rounded quality of life, and where average household income for retirees is less than $45,000 annually** (That’s well below the national median household income of $60,000.)
1. Alaska
Average temperatures
January: 23°
June: 63°
Average income for 65+
$44,934
Alaska also gets high marks for its cultural offerings and low taxes.
2. Idaho
Average temperatures
January: 38°
June: 81°
Average income for 65+
$40,248
Idaho ranks high for the state well-being and low crime, and health care.
3. Iowa
Average temperatures
January: 31°
June: 82°
Average income for 65+
$41,194
Iowa gets good marks for healthcare, low crime, and culture.
4. Maine
Average temperatures
January: 28°
June: 74°
Average income for 65+
$40,256
Maine gets a good score for the overall well-being of the state, low crime, quality of healthcare and culture.
5. Michigan
Average temperatures
January: 30°
June: 78°
Average income for 65+
$44,397
Michigan scores well for low taxes and ranks in the middle of the list for crime and culture.
6. Montana
Average temperatures
January: 33°
June: 76°
Average income for 65+
$42,367
Ranks near the top for health care, taxes, culture, and crime.
7. South Dakota
Average temperatures
January: 22°
June: 78°
Average income for 65+
$43,712
South Dakota gets high marks across the board for culture, quality of healthcare, low crime, and overall state wellbeing.
8. Wisconsin
Average temperatures
January: 29°
June: 75°
Average income for 65+
$40,011
It ranks well for culture, quality of healthcare, and low crime.