According to a new TheStreet.com study, the state of Alabama is one of the best states to retire on a fixed income.

The results come after reviewing several factors, including the cost of living, the tax impact and the prospects of owning or renting a home.

While having an imposed state tax that caps off at five percent, the study found the Yellowhammer state to be to a relatively inexpensive state to live in.

The average cost of living in the state places Alabama at number nine out of all fifty states. According to the study, the median income in Alabama is $24,000. The retirement income of $48,000 goes a long way in the state, according to the study, where the cost of golf, dining, taxes, housing and medical care are among the lowest in the country.

The study also listed Decatur as one of the best cities to reside in Alabama and listed an array of parks for lifestyle benefits. The suggested parks and other areas for leisure include Malone Park, Morgan Lake Park, Decatur Day Use Park, Point Mallard Park, Rhodes Ferry Park, Delano Park, and Wheeler National Wildlife Refuge.

In addition to the low cost of living, Alabama offers 60 miles of beaches and coastline and unique living benefits to U.S. armed forces veterans.

Earlier this year, a Bankrate.com study also found Alabama to be one of the best states to retire in.

Kyle Morris also contributes daily to Breitbart News. You can follow him on Twitter @RealKyleMorris.