10 of the Cheapest States Where You Should Retire in 2018

Ohio

Overall retirement ranking: #19

Population: 11.6 million

Share of population 65+: 15.5%

Cost of living: 12% below U.S. average

Average income for 65+ households: $42,667

Average health care costs for a retired couple: Below average at $417,912

Tax rating for retirees: Mixed

Ohio’s status as a destination for retirees matches its geographic location: in the middle. Its living costs are well below average, but so is its average household income. Even the tax situation is just fine: Social Security benefits are not taxed, and retirees living in the Buckeye State can claim a tax credit of up to $200 on other retirement income.

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