
When it comes to selecting the perfect place to retire, many might think of Florida with its sunny beaches or California with its scenic beauty. However, the best state to retire in 2024 might surprise you—it’s Delaware. This small but mighty state has climbed to the top of Bankrate’s list for the best states to retire this year, taking the crown from last year’s leader, Iowa.
Why Delaware?
Delaware might be one of the smallest states in the U.S., measuring about 96 miles long and 35 miles wide, but it packs a big punch when it comes to retirement perks. The state offers a blend of affordability, quality healthcare, favorable weather, low crime rates, and cultural richness that makes it an attractive option for retirees.

Bankrate’s Methodology
To determine the best states for retirement, Bankrate delved into data from a variety of sources including the Tax Foundation, the Council for Community and Economic Research, the U.S. Census Bureau, and the National Oceanic and Atmospheric Administration. They assessed each state across five critical categories, each weighted differently to reflect their importance:
- Affordability (40%): This includes the cost of living and tax rates like state and local sales taxes.
- Overall Well-being (25%): Factors such as the number of arts and entertainment centers and the population of adults over 62 were considered.
- Quality and Cost of Healthcare (20%): The availability and expense of healthcare services played a significant role.
- Weather (10%): The climate was evaluated based on average temperatures and natural event risks such as tornadoes and hurricanes.
- Crime (5%): The safety of each state was measured by looking at violent and property crime rates.
Delaware’s Standout Features
Delaware’s tax benefits are particularly appealing for those on a fixed income. The state does not tax Social Security benefits and lacks an inheritance or estate tax. Additionally, shoppers can delight in Delaware’s absence of local and state sales taxes, making everyday expenses slightly less burdensome.
However, it’s important to note that Delaware ranked 20th in affordability on Bankrate’s list. While the state generally maintains a cost of living around 1% higher than the national average, specific areas vary. For instance, Wilmington’s living costs are about 4% above the national average, whereas Dover offers a more economical option, being 2% below the national average.

Living in Delaware
Choosing where to retire isn’t just about the numbers; it’s also about lifestyle and personal preferences. Delaware might be small, but it offers a diverse range of activities and settings. From the historic charm of Wilmington’s riverfront to the laid-back, scenic beaches of Rehoboth and Lewes, there’s something for every retiree.
Moreover, Delaware’s weather is moderate compared to the extremes found in other states. Its location offers a balanced climate that avoids the harsh winters of the north and the intense summers of the south, making it ideal for those who enjoy outdoor activities year-round.
Looking Beyond the Rankings
While Delaware’s top ranking makes it a strong candidate for retirement, prospective retirees should consider their personal needs and preferences. Think about the proximity to family, the types of recreational activities available, and the kind of community you want to be part of.
Conclusion
Delaware’s emergence as the best state to retire in 2024 highlights its blend of financial and lifestyle benefits for retirees. As you consider your retirement options, Delaware offers a compelling case with its mix of tax advantages, healthcare quality, and cultural offerings. Whether you’re drawn to its beaches, its vibrant arts scene, or its peaceful suburban areas, Delaware invites you to explore what it means to retire in style and comfort. As always, remember to weigh these factors alongside your personal circumstances and preferences to make the best choice for your golden years.