6. Maryland
- Cost-of-living index: 124.0
- Average one-bedroom rent (January 2022): $1,397
Hugging the Chesapeake Bay and bordered by Pennsylvania, West Virginia, Virginia, Delaware, and the District of Columbia, Maryland is a coastal state located in the Mid-Atlantic region of the US. Known for the blue crabs, baseball, and the city of Baltimore, the state is also famous for being the birthplace of the national anthem.
When it comes to living in Maryland, retirees are bound to spend quite a lot of money. While the state does not tax Social Security checks (which may be a benefit for those who rely solely on them), retirees who live there must pay taxes on distributions from their individual retirement accounts.
Also, only a few states have higher housing costs than Maryland. Healthcare may be cheaper than average, but nothing else is.
4 Responses
I would think Pennsylvania should be listed as 1 of the worst states to live in for retirees
Comments about #3 New York zero in on NYC which is not the real New York. When it comes to New York State “go west young man, go west”. NYC is too expensive plus it’s a rat-infested pit. Go westward into New York and live a much better quality of life. Avoid NYC at all cost!
Western NY born, raised, and educated and lovin’ it.
You forgot IL
If your only source of income is Social Security and you don’t own a home think about a roommate and Medicare does not cover ALL MEDICAL Expenses I get billed for Dr visits