Retirement isn’t just about finally having time to relax. It’s also about making sure your savings can keep up with the cost of living.
For many Americans, that’s becoming more difficult every year. According to recent data, adults over the age of 65 spend an average of $61,432 annually, while the average retired worker receives only about $24,993 in Social Security benefits. That leaves a significant gap that many retirees must cover through savings, pensions, or other retirement income.
One of the biggest expenses? Long-term care.
A new study from Nursa examined all 50 states to determine where Americans are most likely to age well—and where nursing home costs could put the biggest strain on retirement budgets.
The Cost of Nursing Home Care Varies Dramatically
If you’ve never looked into long-term care costs, the numbers may surprise you.
The average monthly cost of a semi-private nursing home room in the United States is $10,701, but where you live can make an enormous difference.
Here are the five most expensive states for nursing home care:
- Alaska – $30,371 per month
- Oregon – $15,817
- Hawaii – $15,087
- Connecticut – $15,056
- New York – $14,722
On the other end of the spectrum, these states offer some of the lowest monthly nursing home costs:
- Texas – $5,475
- Missouri – $6,357
- Oklahoma – $6,448
- Arkansas – $7,148
- Louisiana – $7,483
The difference between Alaska and Texas is staggering—more than $24,000 every month.
The Best States to Grow Older
Retirement isn’t only about keeping expenses low. Quality of life matters just as much.
To create its “Aging Well in America Index,” Nursa looked at several factors including:
- Life expectancy
- Nursing home quality
- Walkability
- Air quality
- Hospital access
- Sunshine
- Healthcare workforce availability
- Cost of nursing care
The top five states for aging well are:
- Hawaii
- Florida
- New Jersey
- Massachusetts
- New York
Hawaii earned the top spot thanks to its long life expectancy, excellent air quality, high nursing home ratings, and abundant sunshine, although those benefits come with significantly higher long-term care costs.
Florida continues to be a retirement favorite because of its warm weather, large retiree population, and relatively lower nursing home costs compared to many other top-ranked states.
The States That Face the Biggest Challenges
Not every state scored well.
The study ranked Mississippi as the most difficult state for aging, followed by:
- Oklahoma
- New Mexico
- Georgia
- Michigan
Factors such as shorter life expectancy, fewer walkable communities, and lower-rated nursing homes contributed to these rankings.
What About North Carolina?
For those of us here in North Carolina, there’s some encouraging news.
The average monthly cost of a semi-private nursing home is approximately $8,821, which is well below the national average. While North Carolina didn’t rank among the very top states for overall aging, its long-term care costs remain more manageable than many parts of the country.
Retirement Planning Is More Than Saving Money
It’s easy to focus on building a retirement account, but this study is a reminder that where you choose to retire can be just as important as how much you’ve saved.
Healthcare costs, access to quality care, and even simple things like walkability and clean air can have a major impact on both your budget and your quality of life.
Whether retirement is just around the corner or still years away, researching the cost of long-term care now can help you make more informed financial decisions later. After all, planning ahead today could make your retirement years a little less stressful—and a lot more enjoyable.
Have you ever considered moving for retirement? I’d love to hear what factors matter most to you. Is it affordability, healthcare, family, climate, or something else?
