Here’s the Cost of Retiring in the 10 Most Expensive States

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Senior woman looking at an empty wallet
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Most folks try hard to keep their costs low during retirement. Unfortunately, that might be difficult in some places.

States that have an especially high cost of living can make life more difficult for retirees. Recently, DepositAccounts crunched the numbers to find out how much it costs to live in various states during retirement.

Costs of living were determined by government spending data for households headed by someone age 65 or older.

Here are the states with the highest cost to retire.

10. Rhode Island

Warwick, Rhode Island
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The average cost of living for retiree households in this state, based on consumer spending, is:

  • $47,675 per year — which reflects an increase of 14.2% since 2021
  • $3,973 per month

Rhode Island is a place where you are never more than an hour away from anything within the state.

Nature lovers will find more than 400 species of birds and some of the darkest skies for stargazing in the Northeast. Providence, the state capital, is the biggest city in Rhode Island.

9. New Hampshire

Portsmouth, New Hampshire
Sean Pavone / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $49,409 per year — which reflects an increase of 12.3% since 2021
  • $4,117 per month

From summer getaways in the Lakes Region to the winter ice castles of North Woodstock, you will always find outdoor fun in New Hampshire.

Manchester is New Hampshire’s biggest city. The state also offers access to both the mountains and the ocean.

8. Maryland

Baltimore, Maryland
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The average cost of living for retiree households in this state, based on consumer spending, is:

  • $49,471 per year — which reflects an increase of 9.3% since 2021
  • $4,123 per month

Maryland is home to Baltimore’s National Harbor. In that waterfront convention center hub, you can gamble at a casino resort, take a water taxi to Mount Vernon or simply shop till you drop.

Baltimore itself is the biggest city in Maryland.

7. Washington

Diablo Lake in North Cascades National Park, Washington state
Anna Abramskaya / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $50,268 per year — which reflects an increase of 13.4% since 2021
  • $4,189 per month

Seattle is Washington‘s biggest city, and the crown jewel of the Northwest. Stroll through Pike Place Market or observe the city from atop the iconic Space Needle.

Washington is also home to around a dozen lighthouses that draw many visitors. Most of them are in one of the numerous state parks.

6. Connecticut

Hartford, Connecticut
James Kirkikis / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $50,335 per year — which reflects an increase of 11% since 2021
  • $4,195 per month

Connecticut has a well-earned reputation of being a world-class market for antiques, some of which date to the Colonial era.

Bridgeport is the biggest city in the state.

5. New York

Astoria Park in Queens, New York
James Andrews1 / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $52,181 per year — which reflects an increase of 8.4% since 2021
  • $4,348 per month

Mighty New York City is the biggest city in the state and a place legendary for nonstop, 24-hour activity.

You can find quieter fun in other parts of New York, from boating on Lake George to hiking in the Catskills.

4. Massachusetts

Snowy winter at Boston, Massachusetts
CO Leong / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $53,985 per year — which reflects an increase of 10.3% since 2021
  • $4,499 per month

From the historic homes of the Berkshires to the beaches of Cape Cod, Massachusetts is full of incredible ways to explore the natural world and more.

Boston is the biggest city in the state and one of the most influential and beloved places in the U.S.

3. New Jersey

Racheal Grazias / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $55,660 per year — which reflects an increase of 9.2% since 2021
  • $4,638 per month

New Jersey is home to 130 miles of beaches and more than a dozen oceanfront boardwalks, along with the casinos and entertainment of Atlantic City.

Newark is the biggest city in the state, with Jersey City a close runner-up.

2. California

Half Moon Bay, California
Matt Tilghman / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $56,597 per year — which reflects an increase of 10.8% since 2021
  • $4,716 per month

Los Angeles is California‘s biggest city and the epicenter of the world’s entertainment industry.

From San Francisco to San Diego and countless other places, you will never run out of things to explore.

1. Hawaii

Honolulu, Hawaii
Filip Carmen / Shutterstock.com

The average cost of living for retiree households in this state, based on consumer spending, is:

  • $56,757 per year — which reflects an increase of 8.1% since 2021
  • $4,730 per month

In the hearts and minds of countless people, Hawaii is the ultimate paradise. Beaches beckon everywhere, but don’t overlook opportunities to gaze at the stars or hike to the summit of a volcano.

Honolulu, on the island of Oahu, is Hawaii’s biggest city and the state capital.

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