The Most Favorable States for New Home Purchases
Mary Singleton
Published Sep 21, 2024
The American population is aging. Every year, millions of Americas retire from their careers to enjoy their golden years. Over 40 million Americans are over the age of 65. By 2030, the final generation of the 3.8 million baby boomers will turn 65. On average, baby boomers are retiring from the labor force at a rate of 2.2 million per year.
Several American states offer opportunities for baby boomers to retire comfortably. Even though many senior Americans prefer warmer climate states like Florida and Arizona, several midwestern states make the list where retirement can be enjoyable and the cost of living on a par to keep up with inflation.
The Blacktower US Financial Management Group ranked the best states in America that have a large population of adults over the age of 60, low crime rates, and affordable housing. Violent crimes are per 100,000 people. You may be surprised at which states made the list.
No. 10 North Dakota
North Dakota has a booming economy with an annual GDP of $52.527 billion. With nearly 90% of the land devoted to farming, North Dakota is the nation's top producer of pinto and navy beans. Even though North Dakota has harsher winters, housing is very affordable.
• Crime: 281.3
• Life Expectancy: 78.5
• Average Home Price: $208,697
• Cost of Living: 98.5
• Population Over 60: 20.3%
No. 9 Florida
Snowbirds enjoy flocking to Florida during America's winter season. Florida has a population of 20,984,400. With a strong GDP of $976.386 billion, Florida is a retiree's dreamland. The warm beaches of Florida and the avid agricultural beauty make this state a wonderland to purchase property.
• Crime: 408
• Life Expectancy: 79.1
• Average Home Price: $256,977
• Cost of Living: 99.1
• Population Over 60: 25.6%
No. 8 New Hampshire
New Hampshire is known for it beautiful lakes, rivers, mountains, and valleys. It is the first state to hold the primary elections. Even though New Hampshire is a small state, GDP is $81.65 billion. Smart technology companies operate out of the old abandoned manufacturing warehouses. The housing market is decent.
• Crime: 198.7
• Life Expectancy: 79.1
• Average Home Price: $286,624
• Cost of Living: 108.4
• Population Over 60: 23.5%
No. 7 Maine
Maine is the largest of the New England states. With a GDP of $61.703 billion, over 90% of Maine is forested - making forestry exports a leading commodity. Housing is very affordable with the median income being $31,088.
• Crime: 117.3
• Life Expectancy: 78
• Average Home Price: $229,824
• Cost of Living: 117.3
• Population Over 60: 26.2%
No. 6 Idaho
Idaho is the golden state. Miners flocked to Idaho during the gold rush of the mid-1800's where they found gold, copper, and lead. The industries of aerospace, computer technology, and recreation technology contributed to the states GDP of $72.294 billion. With abundant housing, Idaho is an ideal state for retirement.
• Crime: 226.4
• Life Expectancy: 79
• Average Home Price: $277,626
• Cost of Living: 93.8
• Population Over 60: 22.06
No. 5 Nebraska
Nebraska is an agricultural haven with a population of 1,920,076. Beef is the largest farm product. Pork production contributions $1 billion annually to the state-wide economy. With the median income being $30,915, retirees will enjoy Nebraska with its very low cost of living.
• Crime: 305.9
• Life Expectancy: 79.1
• Average Home Price: $179,168
• Cost of Living: 92.3
• Population Over 60: 22.07%
No. 4 Wisconsin
Wisconsin has a large GDP of $321.373 billion. Cheese, cranberries, corn, and snap-beans are the driving products for the agricultural economy. The quality of healthcare is No. 14 in the nation. Wisconsin is an ideal place to retire with low housing costs.
• Crime: 319.9
• Life Expectancy: 79.5
• Average Home Price: $211,102
• Cost of Living: 96.3
• Population Over 60: 22%
No. 3 Vermont
Known nationwide, Ben and Jerry's is Vermont's premier dairy ice cream producer. Vermont has a high life expectancy and a low crime rate. The population is small with 623,657 residents. Home prices are mid-range. Vermont is a relatively low-key state for retirement.
• Crime: 165.8
• Life Expectancy: 79.9
• Average Home Price: $266,019
• Cost of Living: 116.9
• Population Over 60: 25%
No. 2 Minnesota
Since Minnesota receives 70 inches of snowfall annually, it is a hub for winter sports like ice hockey, skiing and ice fishing. Situated comfortably on the Mississippi river, Minnesota has a GDP of $350.179 billion. Though frigid for retirees, Minnesota offers quality living and affordable housing prices. Life expectancy is one of the highest in the nation.
• Crime: 238.3
• Life Expectancy: 80.7
• Average Home Price: $248,037
• Cost of Living: 101.9
• Population Over 60: 20.8%
No. 1 Iowa
Iowa is a great state to purchase a home. The average home median price is $173,561. Iowa is essentially a farming state. Hog production is No. 1 in America. Iowa is also a strong producer of beef, milk, eggs, and chicken. With cost of living relatively low, you should be able to live out your golden years in relative comfort.
• Crime: 293.4
• Life Expectancy: 79.4
• Average Home Price: $173,561
• Cost of Living: 92
• Population Over 60: 22.4%
Several American states offer opportunities for baby boomers to retire comfortably. Even though many senior Americans prefer warmer climate states like Florida and Arizona, several midwestern states make the list where retirement can be enjoyable and the cost of living on a par to keep up with inflation.
The Blacktower US Financial Management Group ranked the best states in America that have a large population of adults over the age of 60, low crime rates, and affordable housing. Violent crimes are per 100,000 people. You may be surprised at which states made the list.
No. 10 North Dakota
North Dakota has a booming economy with an annual GDP of $52.527 billion. With nearly 90% of the land devoted to farming, North Dakota is the nation's top producer of pinto and navy beans. Even though North Dakota has harsher winters, housing is very affordable.
• Crime: 281.3
• Life Expectancy: 78.5
• Average Home Price: $208,697
• Cost of Living: 98.5
• Population Over 60: 20.3%
No. 9 Florida
Snowbirds enjoy flocking to Florida during America's winter season. Florida has a population of 20,984,400. With a strong GDP of $976.386 billion, Florida is a retiree's dreamland. The warm beaches of Florida and the avid agricultural beauty make this state a wonderland to purchase property.
• Crime: 408
• Life Expectancy: 79.1
• Average Home Price: $256,977
• Cost of Living: 99.1
• Population Over 60: 25.6%
No. 8 New Hampshire
New Hampshire is known for it beautiful lakes, rivers, mountains, and valleys. It is the first state to hold the primary elections. Even though New Hampshire is a small state, GDP is $81.65 billion. Smart technology companies operate out of the old abandoned manufacturing warehouses. The housing market is decent.
• Crime: 198.7
• Life Expectancy: 79.1
• Average Home Price: $286,624
• Cost of Living: 108.4
• Population Over 60: 23.5%
No. 7 Maine
Maine is the largest of the New England states. With a GDP of $61.703 billion, over 90% of Maine is forested - making forestry exports a leading commodity. Housing is very affordable with the median income being $31,088.
• Crime: 117.3
• Life Expectancy: 78
• Average Home Price: $229,824
• Cost of Living: 117.3
• Population Over 60: 26.2%
No. 6 Idaho
Idaho is the golden state. Miners flocked to Idaho during the gold rush of the mid-1800's where they found gold, copper, and lead. The industries of aerospace, computer technology, and recreation technology contributed to the states GDP of $72.294 billion. With abundant housing, Idaho is an ideal state for retirement.
• Crime: 226.4
• Life Expectancy: 79
• Average Home Price: $277,626
• Cost of Living: 93.8
• Population Over 60: 22.06
No. 5 Nebraska
Nebraska is an agricultural haven with a population of 1,920,076. Beef is the largest farm product. Pork production contributions $1 billion annually to the state-wide economy. With the median income being $30,915, retirees will enjoy Nebraska with its very low cost of living.
• Crime: 305.9
• Life Expectancy: 79.1
• Average Home Price: $179,168
• Cost of Living: 92.3
• Population Over 60: 22.07%
No. 4 Wisconsin
Wisconsin has a large GDP of $321.373 billion. Cheese, cranberries, corn, and snap-beans are the driving products for the agricultural economy. The quality of healthcare is No. 14 in the nation. Wisconsin is an ideal place to retire with low housing costs.
• Crime: 319.9
• Life Expectancy: 79.5
• Average Home Price: $211,102
• Cost of Living: 96.3
• Population Over 60: 22%
No. 3 Vermont
Known nationwide, Ben and Jerry's is Vermont's premier dairy ice cream producer. Vermont has a high life expectancy and a low crime rate. The population is small with 623,657 residents. Home prices are mid-range. Vermont is a relatively low-key state for retirement.
• Crime: 165.8
• Life Expectancy: 79.9
• Average Home Price: $266,019
• Cost of Living: 116.9
• Population Over 60: 25%
No. 2 Minnesota
Since Minnesota receives 70 inches of snowfall annually, it is a hub for winter sports like ice hockey, skiing and ice fishing. Situated comfortably on the Mississippi river, Minnesota has a GDP of $350.179 billion. Though frigid for retirees, Minnesota offers quality living and affordable housing prices. Life expectancy is one of the highest in the nation.
• Crime: 238.3
• Life Expectancy: 80.7
• Average Home Price: $248,037
• Cost of Living: 101.9
• Population Over 60: 20.8%
No. 1 Iowa
Iowa is a great state to purchase a home. The average home median price is $173,561. Iowa is essentially a farming state. Hog production is No. 1 in America. Iowa is also a strong producer of beef, milk, eggs, and chicken. With cost of living relatively low, you should be able to live out your golden years in relative comfort.
• Crime: 293.4
• Life Expectancy: 79.4
• Average Home Price: $173,561
• Cost of Living: 92
• Population Over 60: 22.4%
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