10 of the Cheapest States Where You Should Retire in 2018

Idaho

Overall retirement ranking: #11

Population: 1.6 million

Share of population 65+: 14.3%

Cost of living: 5% below the U.S. average

Average income for 65+ households: $40,248

Average health care costs for a retired couple: Below average at $407,942

Tax rating for retirees: Mixed

Put your potato jokes away, people. Idaho has some serious advantages to offer your retirement. The state’s affordability, for one thing, makes it easy to stretch your retirement savings. And while the tax picture for retirees is mixed—there’s a statewide sales tax of 6% and a state income tax that can go as high as 7.4%—Social Security benefits are not subject to state taxes. Idaho also is one of the states that doesn’t have an inheritance or estate tax.

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