12 Best States for Military Retirees: 2024
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When military personnel retire, they usually trade in their itinerant lifestyle for a more settled one. But it can be difficult for veterans to decide where to put down roots.
Questions abound. What are different states’ tax policies on military benefits? How relatively friendly are their job markets?
And many military retirees find themselves struggling with issues related to reintegrating into civilian society. Some suffer from disabilities and posttraumatic stress disorder, while others face homelessness.
In a new study, the personal finance website WalletHub sought to determine the best and worst U.S. states for military retirement.
“Transitioning from military to civilian life isn’t easy, but the best states for military retirees make that adjustment as smooth as possible,” WalletHub analyst Cassandra Happe said in a statement. “In addition to providing the conditions necessary for our veterans to thrive financially, they also have ample resources for taking care of military retirees’ physical and mental health.”
WalletHub researchers compared the 50 states and the District of Columbia across these key dimensions:
Economic environment, including state tax on military pension, tax friendliness, job opportunities for veterans and 2023 vs. 2022 job growth
Quality of life, including share of VA Benefits-Administration facilities per number of veterans, share of veterans and of homeless ones, and quality of public university system
Health care, including number of VA health facilities per number of veterans, quality of VA hospitals, physicians per capita and mental health counselors per capita
Researchers evaluated these dimensions using 28 relevant metrics and graded each one on a 100-point scale, with a score of 100 representing the most favorable conditions for military retirees. They then determined each state’s and the district’s weighted average across all metrics to calculate its overall score.
See the accompanying gallery for the 12 best states for military retirees in 2024.
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