Samuel Stebbins, 24/7 Wall St. via The Center Square
Deciding where to live in retirement is one of the most important decisions many retirees in the United States need to make. While some may want to stay close to family and friends, others may prioritize affordable housing, a reasonable cost of living, and a low tax rate to maximize retirement income. Safety, access to health care, and climate are also big factors.
Using data from financial services company and personal finance website Bankrate, 24/7 Wall St. reviewed the best and worst states to retire. Bankrate analyzed multiple data points and assigned a weight to each category: affordability (40%), well-being (20%), culture and diversity (15%), weather (15%), and crime (10%).
According to the report, Indiana ranks as the 18th best place to retire among the 50 states. The state ranks 12th best in affordability, its best performing category. This category takes into account overall cost of living as well as sales and property tax rates. Indiana's worst performing category is culture and diversity. In this category, which takes into account venues for arts, entertainment, and recreation as well as the population's racial and ethnic diversity, Indiana ranks eighth worst in the country.
Of the 6,696,893 people who reside in Indiana, 15.7% are 65 or older, the 14th smallest share among states, according to five-year estimates from the U.S. Census Bureau's 2020 American Community Survey.
All data in this story is from Bankrate and the U.S. Census Bureau. A full methodological explanation is available here.