Arkansas Named One of Best States for Retirement in U.S.
August 10, 2022Arkansas has recently been named one of the best places for retirees in the United States.
Two online platforms, MoneyRates and MoneyWise, have recognized Arkansas as a top retirement destination due to its affordability and excellent lifestyle amenities.
In MoneyRates’ “Best States to Retire 2022” list, Arkansas tied for third as a top spot for retirement, with the publication citing Arkansas’ affordability as a major reason for its high ranking.
According to the MoneyRates report, Arkansas “has the second-lowest overall cost of living in the nation and the tenth-lowest average property tax burden.” MoneyRates also noted that Arkansas ranked no. 1 in the nation for healthcare affordability and 10th for nursing care capacity.
MoneyWise named Arkansas as the 4th cheapest state to retire in the United States for its 2022 list.
The report highlighted Arkansas’ low cost of living, which is 10.1% lower than the national average. According to the report, the typical house costs $176,293 in Arkansas, and the average Medicare premiums are $44.34.
MoneyWise also spotlighted The Natural State’s outdoor amenities, writing that the state “offers over 250 days of sunshine a year, and there’s always something to do outdoors.”
“Arkansas delivers for retirees with its low cost of living and unmatched outdoor opportunities. The Natural State helps retirees save money every day and provides many activities for their golden years,” said Mike Preston, Arkansas Secretary of Commerce. “We welcome those who are retiring or retired to Arkansas!”
Retirees in Arkansas can take advantage of a wide range of outdoor and cultural activities, making their dollars stretch farther. From going to one of Arkansas’ 52 state parks, visiting the world-renowned Crystal Bridges Museum of American Art or making a trip to the Johnny Cash Boyhood Home in Dyess, retirees will have plenty of opportunities to soak up the riches Arkansas offers.
Military veterans looking for a state to retire to should consider Arkansas. In Arkansas, military retirement pay is exempt from state taxes, and Arkansas disable veterans who have been awarded special monthly compensation by the Department of Veteran Affairs for certain disabilities are exempt from payment of all state taxes on their homestead and personal property.
Arkansas is becoming a top moving destination for those looking for increased affordability and opportunities. Arkansas was the top state for inbound movers by percentage in 2021, according to the 2021-22 HireAHelper U.S. Migration Report, and the state was named one of the top 10 moving destinations in the United States by MaxMyMoney, a financial education website.
A new initiative called "See Why Arkansas" provides a range of resources for individuals interested in moving to Arkansas. This initiative includes an online website that has testimonial videos, a relocation calculator, and a “Love Where You Live” Guide.
Those interested in learning more about Arkansas and moving to The Natural State can visit Arkansas.com/seewhy.
