Retirement can be an exciting time in your life, a chance to pursue new hobbies and passions, connect more deeply with family, and travel without setting up an out-of-office email. Many retirees even consider picking up and setting roots in a whole new state.
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Whether you’re looking to be closer to the grandkids or the beach, you might wonder how much retirement will cost you every month, in every state. Fortunately, GOBankingRates has answered this question for all 50 states, as well as the District of Columbia.
JasmineImage / iStock.com Total Monthly Costs: $3,006
Average Monthly Mortgage: $1,275
Average Monthly Expenditures: $1,732
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Anfisa Tukane / Getty Images/iStockphoto Total Monthly Costs: $ 4,686
Average Monthly Mortgage: $2,148
Average Monthly Expenditures: $2,537
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wingedwolf / iStock.com Total Monthly Costs: $4,412
Average Monthly Mortgage: $2,571
Average Monthly Expenditures: $1,841
dlewis33 / Getty Images Total Monthly Costs: $2,852
Average Monthly Mortgage: $1,162
Average Monthly Expenditures: $1,690
zorazhuang / iStock/Getty Images Total Monthly Costs: $6,747
Average Monthly Mortgage: $4,580
Average Monthly Expenditures: $2,167
Jonathan Ross / Getty Images/iStockphoto Total Monthly Costs: $5,064
Average Monthly Mortgage: $3,203
Average Monthly Expenditures: $1,861
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Pugalenthi / Getty Images/iStockphoto Total Monthly Costs: $4,435
Average Monthly Mortgage: $2,397
Average Monthly Expenditures: $2,037
AndreyKrav / iStock.com Total Monthly Costs: $4.077
Average Monthly Mortgage: $2,184
Average Monthly Expenditures: $1,893
drnadig / Getty Images Total Monthly Costs: $6,214
Average Monthly Mortgage: $4,198
Average Monthly Expenditures: $2,016
Art Wager / iStock/Getty Images Total Monthly Costs: $4,236
Average Monthly Mortgage: $2,413
Average Monthly Expenditures: $1,823
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Boogich / iStock.com Total Monthly Costs: $3,676
Average Monthly Mortgage: $1,901
Average Monthly Expenditures: $1,775
P_L_photography / Getty Images/iStockphoto Total Monthly Costs: $8,061
Average Monthly Mortgage: $5,648
Average Monthly Expenditure: $2,413
Kirk Fisher / Getty Images Total Monthly Costs: $4,419
Average Monthly Mortgage: $2,590
Average Monthly Expenditures: $1,829
pabradyphoto / iStock.com Total Monthly Costs: $3,295
Average Monthly Mortgage: $1,505
Average Monthly Expenditures: $1,790
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DenisTangneyJr / Getty Images/iStockphoto Total Monthly Costs: $3,196
Average Monthly Mortgage: $1,364
Average Monthly Expenditures: $1,833
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Aaron Yoder / Getty Images/iStockphoto Total Monthly Costs: $3,068
Average Monthly Mortgage: $1,250
Average Monthly Expenditures: $1,818
TriggerPhoto / iStock.com Total Monthly Costs: $3,085
Average Monthly Mortgage: $1,278
Average Monthly Expenditures: $1,807
Jeremy Poland / Getty Images Total Monthly Costs: $2,891
Average Monthly Mortgage: $1,142
Average Monthly Expenditures: $1,748
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THEPALMER / Getty Images Total Monthly Costs: $2,906
Average Monthly Mortgage: $1,150
Average Monthly Expenditures: $1,756
EJJohnsonPhotography / Getty Images/iStockphoto Total Monthly Costs: $4,171
Average Monthly Mortgage: $2,219
Average Monthly Expenditures: $1,952
Tim Pruss / Getty Images Total Monthly Costs: $4,357
Average Monthly Mortgage: $2,451
Average Monthly Expenditures: $1,906
KenWiedemann / Getty Images/iStockphoto Total Monthly Costs: $5,764
Average Monthly Mortgage: $3,597
Average Monthly Expenditures: $2,168
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wellesenterprises / iStock.com Total Monthly Costs: $3,149
Average Monthly Mortgage: $1,349
Average Monthly Expenditures: $1,799
Total Monthly Costs: $3,793
Average Monthly Mortgage: $1,917
Average Monthly Expenditure: $1,876
SeanPavonePhoto / Getty Images/iStockphoto Total Monthly Costs: $2,742
Average Monthly Mortgage: $1,007
Average Monthly Expenditures: $1,735
Total Monthly Costs: $3,134
Average Monthly Mortgage: $1,403
Average Monthly Expenditures: $1,730
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Total Monthly Costs: $4,504
Average Monthly Mortgage: $2,635
Average Monthly Expenditures: $1,869
marekuliasz / iStock.com Total Monthly Costs: $3,256Average Monthly Mortgage: $1,479Average Monthly Expenditures: $1,777
georgeclerk / Getty Images Total Monthly Costs: $4,466
Average Monthly Mortgage: $2,589
Average Monthly Expenditures: $1,877
DenisTangneyJr / Getty Images Total Monthly Costs: $4,875
Average Monthly Mortgage: $2,760
Average Monthly Expenditures: $2,114
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Total Monthly Costs: $4,973
Average Monthly Mortgage: $3,053
Average Monthly Expenditures: $1,920
Judd Brotman / Getty Images Total Monthly Costs: $3,532
Average Monthly Mortgage: $1,738
Average Monthly Expenditure: $1,794
OlegAlbinsky / Getty Images/iStockphoto Total Monthly Costs: $4,484
Average Monthly Mortgage: $2,530
Average Monthly Expenditures: $1,955
Darwin Brandis / iStock.com Total Monthly Costs: $3,752
Average Monthly Mortgage: $1,909
Average Monthly Expenditures: $1,850
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powerofforever / Getty Images Total Monthly Costs: $3,384
Average Monthly Mortgage: $1,484
Average Monthly Expenditures: $1,900
Total Monthly Costs: $3,131
Average Monthly Mortgage: $1,280
Average Monthly Expenditures: $1,851
Total Monthly Costs: $2,920
Average Monthly Mortgage: $1,171
Average Monthly Expenditures: $1,749
Total Monthly Costs: $4,889
Average Monthly Mortgage: $2,904
Average Monthly Expenditures: $1,985
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Total Monthly Costs: $3,385
Average Monthly Mortgage: $1,515
Average Monthly Expenditures: $1,870
Total Monthly Costs: $4,569
Average Monthly Mortgage: $2,628
Average Monthly Expenditures: $1,941
Total Monthly Costs: $3,506
Average Monthly Mortgage: $1,698
Average Monthly Expenditures: $1,809
Total Monthly Costs: $3,503
Average Monthly Mortgage: $1,7278
Average Monthly Expenditures: $1,776
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Total Monthly Costs: $3,515
Average Monthly Mortgage: $1,814
Average Monthly Expenditures: $1,701
Total Monthly Costs: $3,554
Average Monthly Mortgage: $1,771
Average Monthly Expenditure: $1,783
Total Monthly Costs: $4,847
Average Monthly Mortgage: $3,042
Average Monthly Expenditures: $1,805
Total Monthly Costs: $4,278.
Average Monthly Mortgage: $2,255
Average Monthly Expenditures: $2,024
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Total Monthly Costs: $4,107
Average Monthly Mortgage: $2,235
Average Monthly Expenditure: $1,872
Total Monthly Costs: $5,529
Average Monthly Mortgage: $3,427
Average Monthly Expenditures: $2,101
Total Monthly Costs: $2,696
Average Monthly Mortgage: $907
Average Monthly Expenditures: $1,790
Total Monthly Costs: $3,628
Average Monthly Mortgage: $1,697
Average Monthly Expenditures: $1,931
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Total Monthly Costs: $3,773
Average Monthly Mortgage: $1,970
Average Monthly Expenditures: $1,803
Methodology: For this study, GOBankingRates analyzed the average cost of expenditures for retired residents by finding the cost of living indexes, as sourced from the Missouri Economic Research Economic Data. Multiplying them by the average expenditure costs as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for retired populations gives the average expenditure costs for each state for retired people. All data was collected and is up to date as of March 7, 2024.
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This article originally appeared on GOBankingRates.com : How Much Retirement Costs Monthly in Every State