This also constitutes a 10% increase on last year’s figures, where only 38% of people relocating for retirement decided to move out of their home state.
High Affordability, Low Taxes: Tennessee Top State Choice For Retirement Moves
Last year it was Virginia, this year it’s Tennessee; the Volunteer State was chosen by 13% of Americans moving out of state for retirement, the highest percentage of all U.S. states.
Tennessee is not only home to vibrant Nashville and Memphis, but is also the state with the lowest tax burden in the country, after Alaska.
Meanwhile, Florida, the staple in any top destinations for retirement list, wasn’t that far off the top spot—11% of retirees who left their home state relocated to the Sunshine State in 2021. Pennsylvania (10%), North Carolina (10%), and South Carolina (9.4%) round off the top five.
Curiously enough, Tennessee was even more popular among early retirees. As many as one in five (20%) Americans under 65 who left their state for retirement moved to Tennessee.
Great Health Care, Affordable Housing: Pittsburgh Tops Retirement Destinations City List
Technically speaking, areas outside cities and metropolitan areas were the most preferred destinations for retirees, as 26% of Americans who moved for retirement headed to smaller towns and cities far from urban areas.
The city attracting the highest percentage of retirees is in Pennsylvania, and it’s Pittsburgh. Once ranked as the best place to retire by Bankrate due to its low cost of living, excellent health-care system, and a significant number of inhabitants being 65 or older, Pittsburgh was the top city destination of choice for 7% of all retirees in the U.S. in 2021
Three metropolitan areas from Tennessee also made the top 10. Kingsport-Bristol, TN-VA was the destination of choice for 3.9% of Americans relocating for retirement. A further 3.5% chose Nashville-Davidson-Murfreesboro, while 3% opted for Johnson City, Tenn.
