Sioux Falls, South Dakota
Share of population 65+: 12.2%
Cost of Living: 7.0% below the national average
Average Income for Households 65+: $45,780
Community Score: n/a
State’s Tax Rating for Retirees: Most Tax Friendly
If you’ve never considered moving to South Dakota, perhaps you should. We recently ranked it the best state for retirement. And Sioux Falls is a particularly great spot to settle. It is filled with advantages, including a booming economy, low unemployment and hospitals specializing in geriatric services. For all these reasons, plus the city’s recreational activities (including regularly scheduled pinochle and pickleball), the Milken Institute dubbed Sioux Falls the 5th best small metro area for successful aging.
And all that comes pretty cheap for retirees. Along with low overall living costs in Sioux Falls, the median home value is $161,500, compared with $184,700 for the U.S.