by Robert Borges on January 13, 2025
In 2024, Georgia rose from the 15th to 3rd-best place in the US to retire, according to the annual survey conducted by Bankrate. This ranking is based on data collected about affordability, overall wellbeing, cost of healthcare, weather, and crime.
If you are an active adult eyeing fifty-five-plus communities in Georgia and researching how Georgia compares to Florida for retirement, it’s worth taking a closer look at how Georgia performs in each category.
Factors That Contribute to Georgia’s Ranking
When Bankrate evaluates a state, it weighs multiple categories in order of importance to retirees. However, each person is different and may view each category’s importance differently.
For this survey, the categories are weighted 40% for affordability, 25% for overall wellbeing, 20% for quality and cost of health care, 10% for weather, and 5% for crime. Here’s a closer look at each factor:
Cost of Living
Georgia has one of the lowest living costs in the United States. In 2024, it was ranked fifth in affordability, rising from twelfth in 2023.
The cost of living in the Peach State is 11% lower than the national average. If you look a little deeper at the numbers, you’ll discover that the median cost of purchasing a home is 6% lower than the national average, while renting a two-bedroom apartment is 2% lower. Certain areas of Georgia offer significantly more savings.
The taxes retirees pay in Georgia may also be a consideration. Georgia has a low, flat 5.49% income tax rate and does not tax Social Security income. In addition, people over the age of sixty-five can receive a tax exemption on $65,000 in retirement income.
Overall Lifestyle and Wellbeing
The Atlanta Journal-Constitution recently reported that Georgia ranked slightly above the middle of the pack in terms of happiness. WalletHub, a financial website, conducted this survey and compared emotional and physical wellbeing, work environment, and community and environment.
Cost and Quality of Healthcare
Before you move, consider out-of-pocket expenses after Medicare and how they will impact your retirement savings.
High-quality healthcare providers are available but can be challenging to find in some parts of the state. One of the top-notch facilities in Georgia is Emory University Hospital in Atlanta. It was highly rated by the US News & World Report national survey (2023-2024) in five adult specialties. Newsweek called it one of the ‘Best Hospitals in the World.’
Weather
Georgia consistently ranks among the top ten in the country for weather. Although it can be hot and humid in the summer, this state enjoys seasonal variations at other times of the year. It is also not prone to the natural disasters and extreme weather conditions that regularly impact other warm-climate states.
Crime
Georgia’s crime rate ranks midway down the list when compared to the rest of the country. Its overall crime and violent crime rates are lower than the national average.
Many active adult communities incorporate extra security measures for their residents. If safety is a concern for you, ask community representatives about how they address security issues.
Discover the Beauty of Georgia
Retirement expert and Author of In Control at 50+, Kerry Hannon, recommends spending a few months in a new place before moving there permanently. Doing this allows you to assess how well you connect with your neighbors, the community, and the local lifestyle.
Take advantage of the Discover Packages offered by Private Communities. You can use our intuitive platform to identify the active adult communities that appeal to you most and then visit them for a few days and experience life with resort-like amenities yourself!
