Move over, Florida. According to a new study, Alabama has become one of the best places to retire not only in the south, but the entire country. Per a new study from CreditDonkey, the Yellowhammer State is the second best place to retire in the U.S.
The company ranked the states by factoring in the following:
- Average salary
- Annual utility bills
- Annual medical costs
- Food and beverage expenditure
- Car insurance costs
- House prices and tax rates
- Crime rates
- Population over 65
- Average temperature
Overall, Alabama scored a 62.33 in the study.
Alabama has one of the most affordable property tax rates, the second state with the lowest property tax overall. The average annual tax on a property in Alabama is 0.4%, which suggests the average yearly tax on a property is $1,022.
The state also scored high in the utility category, as the eighth state with the most affordable utility cost overall, with the average annual cost of utilities at $7,082.
The full study can be found at https://www.creditdonkey.com/
Austen Shipley is a staff writer for Yellowhammer News.
