The Rundown on How Much it Costs to Retire in Each State

Written by C. James on updated
White houses with chimneys line a calm waterfront, reflected clearly in the water. Two boats are docked in front, and colorful autumn trees are visible in the background.

Plenty of us are prone to daydreaming bouts when it comes to any talk of retirement. In this day and age, as we are just beginning to move through 2026, it can feel terribly daunting at times to even look at the varying bills that steadily stack up. The cost of living itself seems like it’s never been higher, and while the compensation being offered in various jobs, unfortunately, seems to be suffering its own misalignment for the work that needs to get done. So, it never hurts to allow yourself a bit of time to dream about what the proper picture of retirement could look like in each state.

Alabama

Aerial view of a cityscape during sunset, with modern skyscrapers and office buildings. The sky shows a gradient from orange to blue, and the streets below are visible with parked cars and trees.
Jacob Boomsma/istockphoto
Jacob Boomsma/istockphoto

How much you need to retire: $773,000
Annual cost of living: $53,357

Alaska

 

Aerial view of a cityscape at sunset with a downtown area featuring tall buildings. Residential areas with colorful houses are in the foreground. Snow-capped mountains and a partly cloudy sky are in the background.
Jacob Boomsma/istockphoto
Jacob Boomsma/istockphoto

How much you need to retire: $1,292,753
Annual cost of living: $74,147

Arizona

Aerial view of a cityscape with wide streets lined by various buildings. A tram line runs along the center, and mountains are visible in the distant background under a clear blue sky.
Davel5957/istockphoto
Davel5957/istockphoto

How much you need to retire: $1,133,522
Annual cost of living: $67,778

Arkansas

A large white arch bridge spans a river, leading into a cityscape with modern skyscrapers and mid-rise buildings. Green trees line the riverbanks. The sky is partly cloudy, creating a bright, bustling urban scene.
halbergman/istockphoto
halbergman/istockphoto

How much you need to retire: $776,005
Annual cost of living: $53,477

California

Aerial view of a cityscape with a central pond surrounded by trees and palm trees. In the background, a skyline of tall buildings under a clear sky. Residential areas and roads with light traffic are visible in the foreground.
simonkr/istockphoto
simonkr/istockphoto

How much you need to retire: $1,612,716
Annual cost of living: $86,945

Colorado

Aerial view of a neighborhood with tree-lined streets and houses displaying vibrant fall foliage in red, yellow, and orange. In the background, a city's skyline with modern high-rise buildings is visible under a clear blue sky.
Davel5957/istockphoto
Davel5957/istockphoto

How much you need to retire: $981,803
Annual cost of living: $61,709

Connecticut

Quaint waterfront village with white houses and colorful autumn trees reflecting in calm water. Several boats docked at the pier under a clear blue sky.
DenisTangneyJr / istockphoto
DenisTangneyJr / istockphoto

How much you need to retire: $1,116,998
Annual cost of living: $67,117

Delaware

A street intersection with red-brick buildings featuring ornate designs and colorful accents. The street is lined with trees and parked cars. Traffic lights hang above the intersection, and a blue sky with clouds forms the backdrop.
Dmitry Vinogradov/istockphoto
Dmitry Vinogradov/istockphoto

How much you need to retire: $944,248
Annual cost of living: $60,207

Florida

Aerial view of a vibrant cityscape with numerous skyscrapers along a coastline, surrounded by turquoise water. Boats are visible in the water, and a bright blue sky with scattered clouds enhances the scene.
Art Wager / istockphoto
Art Wager / istockphoto

How much you need to retire: $977,296
Annual cost of living: $61,529

Georgia

A panoramic view of a city skyline with tall skyscrapers under a bright blue sky filled with fluffy white clouds. A highway with cars runs through the foreground, surrounded by green trees and urban buildings.
Sean Davis / istockphoto
Sean Davis / istockphoto

How much you need to retire: $813,559
Annual cost of living: $54,980

Hawaii

A scenic view of a beach with turquoise waters and many people swimming and sunbathing. High-rise buildings line the shore, and a green mountain rises in the background under a partly cloudy sky.
Maridav/istockphoto
Maridav/istockphoto

How much you need to retire: $2,212,084
Annual cost of living: $110,921

Idaho

A cityscape featuring a busy street lined with cars and trees with autumn foliage. In the background, various buildings and skyscrapers stand against a backdrop of snow-capped mountains under a cloudy sky.
4kodiak/istockphoto
4kodiak/istockphoto

How much you need to retire: $971,288
Annual cost of living: $61,289

Illinois

A vibrant cityscape featuring a river with a yellow water taxi, surrounded by towering skyscrapers and a bridge. The buildings reflect sunlight, and the sky is partly cloudy, adding to the urban atmosphere.
Jeremy Poland/istockphoto
Jeremy Poland/istockphoto

How much you need to retire: $873,646
Annual cost of living: $57,383

Indiana

Aerial view of a cityscape featuring a downtown skyline with tall buildings. A river with fountains and a curved bridge runs through a park with trees and pathways, surrounded by residential and commercial buildings under a blue sky.
Nicholas Klein/istockphoto
Nicholas Klein/istockphoto

How much you need to retire: $810,555
Annual cost of living: $54,859

Iowa

A winding rural road leads through a lush green landscape toward a farm with red barns and scattered buildings under a bright blue sky filled with fluffy clouds. Rolling hills and fields stretch into the distance.
Willard / istockphoto
Willard / istockphoto

How much you need to retire: $797,035
Annual cost of living: $54,319

Kansas

Aerial view of a suburban neighborhood with tree-lined streets and a grid layout. Houses are surrounded by lawns, and there are a few cars on the roads. Farmland and silos are visible in the background under a clear sky.
Alex Potemkin / istockphoto
Alex Potemkin / istockphoto

How much you need to retire: $741,455
Annual cost of living: $52,095

Kentucky

littleny/istockphoto
littleny/istockphoto

How much you need to retire: $834,590
Annual cost of living: $55,821

Louisiana

A bustling street in New Orleans at dusk, adorned with colorful lights and vibrant flags. People stroll along, surrounded by lively bars and historic buildings. The evening sky is clear, with city skyscrapers visible in the distance.
travelview / istockphoto
travelview / istockphoto

How much you need to retire: $843,603
Annual cost of living: $56,181

Maine

Scenic view of a coastal village with colorful autumn trees in the background. Charming houses and buildings line the shore, reflected in the calm water. The sky is overcast, adding a serene atmosphere to the picturesque landscape.
DenisTangneyJr/istockphoto
DenisTangneyJr/istockphoto

How much you need to retire: $1,144,038
Annual cost of living: $68,199

Maryland

Aerial view of an urban harbor at sunset. Skyscrapers and buildings surround the calm water, reflecting vibrant orange and pink skies. Boats are docked at piers, and a small park with pathways is visible in the foreground.
Kruck20/istockphoto
Kruck20/istockphoto

How much you need to retire: $924,720
Annual cost of living: $59,426

Massachusetts

City skyline at sunset with buildings reflecting on a calm river. The scene includes a prominent glass skyscraper and a dome-shaped structure, set against a clear sky with a horizon of trees and distant buildings.
Sanghwan Kim / istockphoto
Sanghwan Kim / istockphoto

How much you need to retire: $1,645,764
Annual cost of living: $88,627

Michigan

Aerial view of a vibrant urban area with a mix of residential houses and trees in the foreground. In the background, larger buildings and a tower are visible under a partly cloudy sky. The scene conveys a blend of nature and city life.
halbergman/istockphoto
halbergman/istockphoto

How much you need to retire: $825,577
Annual cost of living: $55,460

Minnesota

A city skyline at dusk, featuring illuminated skyscrapers and a stone arch bridge. The bridge is glowing with orange lights, and the calm water below reflects the vibrant colors of the sunset and city lights.
Sean Pavone/istockphoto
Sean Pavone/istockphoto

How much you need to retire: $870,642
Annual cost of living: $57,263

Mississippi

Aerial view of a cityscape featuring a prominent building with a large dome, surrounded by trees and other buildings. Streets intersect amidst greenery and structures with a backdrop of a sprawling city under a clear blue sky.
MattGush/istockphoto
MattGush/istockphoto

How much you need to retire: $753,472
Annual cost of living: $52,576

Missouri

Aerial view of downtown St. Louis with the Gateway Arch in the foreground, surrounded by modern skyscrapers and autumn-colored trees. The Mississippi River flows beside the city under a partly cloudy sky.
Art Wager/istockphoto
Art Wager/istockphoto

How much you need to retire: $776,005
Annual cost of living: $53,477

Montana

A panoramic view of a city at dusk with various buildings and a lush landscape. In the background, a range of rolling hills is visible beneath a softly colored sky.
peeterv/istockphoto
peeterv/istockphoto

How much you need to retire: $851,114
Annual cost of living: $56,482

Nebraska

Panoramic view of a city skyline at dusk, with tall buildings illuminated. The sky displays vibrant hues of pink, orange, and blue. Lush greenery and parking areas are visible in the foreground.
Sean Pavone/istockphoto
Sean Pavone/istockphoto

How much you need to retire: $833,087
Annual cost of living: $55,761

Nevada

Aerial view of Las Vegas Strip at sunset. The Eiffel Tower replica is visible, surrounded by hotels and bright lights. The Bellagio Fountains are in action, with water jets illuminated. Ferris wheel can be seen in the background. Busy streets and cars.
f11photo/istockphoto
f11photo/istockphoto

How much you need to retire: $942,746
Annual cost of living: $60,147

New Hampshire

Aerial view of a suburban neighborhood in autumn. Houses are surrounded by vibrant fall foliage in shades of red, orange, and yellow. In the background, a city skyline with several tall buildings is visible under a clear blue sky.
DenisTangneyJr / istockphoto
DenisTangneyJr / istockphoto

How much you need to retire: $1,113,994
Annual cost of living: $66,997

New Jersey

Cityscape with a group of diverse, high-rise buildings under a partly cloudy blue sky. The scene features architectural styles from different eras. In the foreground, there are traffic lights, trees, and a street with a few pedestrians.
Leonid Andronov/istockphoto
Leonid Andronov/istockphoto

How much you need to retire: $1,163,566
Annual cost of living: $68,980

New Mexico

A scenic view of Santa Fe, New Mexico at sunset. Adobe-style buildings are surrounded by lush greenery, with a state capitol and flag in the distance. The sky is a gradient of warm oranges and yellows, casting a soft glow over the cityscape.
Sean Pavone/istockphoto
Sean Pavone/istockphoto

How much you need to retire: $834,590
Annual cost of living: $55,821

New York

Aerial view of a city skyline at sunset with numerous skyscrapers and a large park, featuring green spaces and winding paths. The horizon shows a river and distant urban landscape under a clear sky.
Art Wager/istockphoto
Art Wager/istockphoto

How much you need to retire: $1,292,753
Annual cost of living: $74,147

North Carolina

A city skyline at dusk with tall buildings illuminated. In the foreground, light trails from vehicles create dynamic lines along a highway flanked by trees. A green highway sign is visible on the right. The sky is a soft blue.
traveler1116/istockphoto
traveler1116/istockphoto

How much you need to retire: $905,192
Annual cost of living: $58,645

North Dakota

Aerial view of a college campus with multiple red-roofed buildings, tree-lined streets, and green spaces. A roundabout is visible in the center with a decorative fountain. The sky is clear and the surrounding area is expansive.
Wirestock/istockphoto
Wirestock/istockphoto

How much you need to retire: $822,572
Annual cost of living: $55,340

Ohio

Aerial view of a city skyline at sunset, featuring a suspension bridge crossing a river in the foreground. The river reflects the warm hues of the sky. Skyscrapers and urban buildings are silhouetted against a clear blue sky.
Jeremy Poland/istockphoto
Jeremy Poland/istockphoto

How much you need to retire: $864,633
Annual cost of living: $57,023

Oklahoma

Davel5957/istockphoto
Davel5957/istockphoto

How much you need to retire: $759,481
Annual cost of living: $52,816

Oregon

Aerial view of a cityscape at dusk with a river in the foreground. Buildings are illuminated, reflecting on the water. A bridge with lights crosses the river, and hills are visible in the background under a cloudy sky.
Jacob Boomsma/istockphoto
Jacob Boomsma/istockphoto

How much you need to retire: $1,091,462
Annual cost of living: $66,096

Pennsylvania

A view of a city street lined with autumn trees and illuminated by streetlights, leading to a tall, ornate building with a clock tower. In the foreground stands a statue of a person on horseback, among other smaller statues.
Sean Pavone / istockphoto
Sean Pavone / istockphoto

How much you need to retire: $864,633
Annual cost of living: $57,023

Rhode Island

DenisTangneyJr / istockphoto
DenisTangneyJr / istockphoto

How much you need to retire: $1,127,514
Annual cost of living: $67,538

South Carolina

A picturesque street scene features palm trees lining a road with colorful historic buildings. A prominent white church with a tall steeple and clock is in the center. The sky displays hues of sunset, adding a warm glow to the scene.
Charleston, South Carolina, USA cityscape in the historic district at twilight.

How much you need to retire: $869,140
Annual cost of living: $57,203

South Dakota

Aerial view of a small city surrounded by rolling green hills under a partly cloudy blue sky. The city features a mix of older brick buildings and modern structures, with trees scattered throughout. Hills extend into the distance.
DenisTangneyJr/istockphoto
DenisTangneyJr/istockphoto

How much you need to retire: $825,577
Annual cost of living: $55,640

Tennessee

Skyline of a city with modern and historic buildings under a clear sky at sunset. A river with a lush green shoreline is in the foreground, reflecting the colorful buildings and sky.
Jeremy Poland/istockphoto
Jeremy Poland/istockphoto

How much you need to retire: $791,027
Annual cost of living: $54,078

Texas

A vibrant street scene in Austin, Texas, featuring colorful historic buildings with neon signs and flags. Cars are parked along the street, and a few people walk on the sidewalk. Modern skyscrapers rise in the background under a cloudy sky.
benedek/istockphoto
benedek/istockphoto

How much you need to retire: $830,083
Annual cost of living: $55,640

Utah

Aerial view of a cityscape featuring a prominent white-domed Capitol building surrounded by modern skyscrapers and lush greenery. The backdrop includes distant mountains under a vibrant, colorful sky at sunset.
Sean Pavone/istockphoto
Sean Pavone/istockphoto

How much you need to retire: $1,083,951
Annual cost of living: $65,795

Vermont

Aerial view of a quaint town nestled in a valley with surrounding hills. The town features scattered houses, a central church, and winding roads. Autumn foliage in vibrant orange, yellow, and green colors fills the landscape under a partly cloudy sky.
jimfeng / istockphoto
jimfeng / istockphoto

How much you need to retire: $1,153,051
Annual cost of living: $68,559

Virginia

Skyline of a city with modern skyscrapers and a bridge, reflected in a calm river. Trees with autumn foliage line the water's edge under a blue sky with wispy clouds.
SeanPavonePhoto/istockphoto
SeanPavonePhoto/istockphoto

How much you need to retire: $948,755
Annual cost of living: $60,387

Washington

Aerial view of a lakeside residential area with tree-lined streets during autumn. Houses are surrounded by colorful foliage, and the lake features several docks. Hills and a forested landscape are visible in the background under a cloudy sky.
MarkHatfield/istockphoto
MarkHatfield/istockphoto

How much you need to retire: $1,145,540
Annual cost of living: $68,259

West Virginia

Wirestock/istockphoto
Wirestock/istockphoto

How much you need to retire: $712,913
Annual cost of living: $50,954

Wisconsin

Aerial view of a city with a river running through it, surrounded by tall buildings. A bridge crosses the river, and docks line the waterfront. The sky is clear with a few clouds, indicating a sunny day.
Jon Mattrisch/istockphoto
Jon Mattrisch/istockphoto

How much you need to retire: $930,729
Annual cost of living: $59,666

Wyoming

A cityscape with mountains in the background. The mountains have a dusting of snow, and the sky is pink and blue, suggesting sunrise or sunset. The city is a mix of buildings and trees, creating a diverse urban landscape.
DenisTangneyJr/istockphoto
DenisTangneyJr/istockphoto

How much you need to retire: $872,144
Annual cost of living: $57,323

Want to read more about the cost of living?

Be sure to check out 10 Ways the Cost of Living Has Increased Since the Boomer Era and 15 U.S. Cities Where the Cost of Living Is Through the Roof. We think you’ll also like Here’s What a Middle-Class Salary Looks Like in Every State.