Healthcare, weather tank Texas' retirement ranking: Study
Retirement rankings
TEXAS - Issues with factors like healthcare, weather and affordability have earned Texas a second-to-last spot in the U.S. retirement rankings, a recent study found.
Texas ranks 49th for U.S. retirement spots
Of the eight categories measured by Bankrate.com’s study, released on Monday, Texas scored best on local taxes, placing seventh overall. The one area of quality was not enough to inflate the state’s ranking, however, as all seven other categories placed Texas squarely in the bottom two-thirds of the nation.
Here’s a summary of each category’s placement, from highest-weighted to lowest.
By the numbers:
For affordability, Texas ranked 42 out of 50. The study used a cost of living index from 2024 and the average annual home insurance premiums as measurements for this category.
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Texas ranked 47 for weather, which the study notes is surprising for a southern state. This took into account hurricanes, tornadoes and earthquakes, heating and cooling days and average sunlight exposure.
In safety, Texas ranks 38th. This is based fully on violent and property crimes per 1,000 residents.
For health care, Texas ranks last at 50. This category analyzed health care access as a composite of the percentage of adults who avoided health care due to costs; number of dental providers per 100,000 residents; number of mental health care providers per 100,000 residents; number of primary care providers per 100,000 residents; and percentage of the population who are uninsured. Additionally, the quality of healthcare was based in part on the percentage of adults who reported having a personal doctor.
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Texas’ rank of 7th for local taxes was based on the state tax competitiveness index from the Tax Foundation.
For arts, Texas ranked 40, taking into account arts, entertainment and recreation establishments per 100,000 residents.
The second-lowest ranking Texas received was for people of similar age, at 49. This was a measurement of adults aged 65 or older per 100,000 residents.
In the final category of miscellaneous, Texas got its second-highest ranking of 33. This included ratings for walkability, community well-being, air pollution, and public water system violations.
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Overall U.S. retirement rankings
Big picture view:
The bottom five states in Bankrate’s study were Nebraska (46), Arkansas (47), Oklahoma (48), Texas (49), and Louisiana (50).
Of the bottom 10 states, Texas was among eight from the Sun Belt; states typically known for warm climates and high population growth.
The states at the top of the list trended towards the north of the nation. New Hampshire claimed the top spot, with the best neighborhood safety in the country and top-10 rankings in health care, taxes and residents over 65. The others in the top five were Maine (2), Wyoming (3), Vermont (4), and Idaho (5).
What they're saying:
"Our survey results may be shocking to any retirees who only considered warm weather and income taxes in their relocation plans," says Stephen Kates, CFP, Bankrate financial analyst. "We incorporated 15 different data points into our analysis for a comprehensive perspective on the true costs of retirement across different states."
"Retirees and pre-retirees should take notice of these rankings because we looked beyond the typical categories to look closely at important lifestyle and risk factors for residents of various states," says Kates. "There is more to being a resident than just the number of sunny days and taxes. Categories like public safety, walkability, access to healthcare, air quality, recreational opportunities, and more add up to the daily quality of life retirees want."
"Surprising to many, including me, is that there are four states from New England in the top 10," says Kates. "Health care, both access and cost, as well as safety, recreation, and walkability play a major role in our rankings, and these states excel in these categories."
The Source: Information in this report came from Bankrate.com.