Colorado Is The Best State For Older Americans: Report

When it comes to deciding where to live, many older Americans opt to live in a warmer place or closer to family. While personal preference may be the deciding factor for most, older Americans should keep in mind which states are objectively better suited for living out their golden years.

According to a new ranking by 24/7 Wall St., some states are better for older Americans to call home when it comes to factors such as income, health care, safe streets, reliable public transportation and more.

Colorado is the best state for older Americans, according to the ranking. Overall, our state ranked No. 1 out of all 50 states.

To determine each state’s place on the list, 24/7 Wall St. looked at which states have an advantage when it comes to the aforementioned factors such as health care and income. The report noted that nearly 40 percent of Coloradans over 65 have a bachelor's degree — the highest share of any state. The age category also has one of the lowest senior poverty rates.

"When it comes to the health of the retirement-age population, the state has one of the smallest shares of 65 and over residents with a disability as well as the third lowest annual mortality rate for residents 65 and over," the report read.

24/7 Wall St. also determined how well Colorado might suit older Americans by taking into determining the following figures:

• Life expectancy at age 65: 85.0 years (9th highest)
• 65 and older poverty rate: 7.4 percent (10th lowest)
• 65 and older population with a disability: 31.1 percent (tied – 9th lowest)
• Median income for 65 and older households: $51,537 (10th highest)
• Population 65 and older: 807,855 (14.2% – 5th lowest)

Using data from sources including the U.S. Census Bureau and the Centers for Disease Control and Prevention, 24/7 Wall St. created an index of measures related to income, health, education, environment and access to public transportation in order to identify the best and worst states for older Americans.

Here are the top five best states for older Americans:

1. Colorado
2. Maryland
3. Hawaii
4. New Hampshire
5. Connecticut

On the other hand, several states were considered not good fits for older Americans, according to the ranking. At the bottom of the list is West Virginia, followed by Arkansas and Mississippi, respectively.

See more on 24/7 Wall St.’s methodology in determining the best states for older Americans.

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