Texas is regularly at or near the top of the list for moving destinations, but a new report says retirees may want to think twice before coming here. The Bankrate annual analysis of Best States to Retire ranks all 50 states on categories like weather, crime, cost of living, and healthcare. Texas finished 42nd on this year's list, only ranking in the top half for weather (7th) but lagging in the other categories.
Delaware was rated the best state for retirement on the list, Alaska the worst.
The news wasn't all bad for Texas in the report. "Texas is a warmer state, which can attract retirees," says Alex Gailey, Bankrate analyst. "And it ranked well in terms of overall affordability and cost of living...a big perk of moving to Texas for retirement is there's no state income tax, therefore Social Security benefits and other types of retirement income are tax-free."
Unfortunately for the Lone Star State, the bad news outweighed the good in the report. "Texas has some of the highest sales taxes and property taxes of any U.S. state, and homeowners insurance is expensive in Texas," says Gailey. "And then, Texas is subject to a lot of natural disasters, and crime in Texas is more common compared to other states."
The report comes as a rush of baby boomers hits the retirement market. "Unfortunately, retirees wanting to move to Texas for sunny winters and affordable housing may have to sacrifice in other areas," Gailey tells KTRH.
Photo: Digital Vision