5 best states for retirement that aren't Florida

Florida is falling behind when it comes to being an appealing place for retirees to spend their golden years. 

Due to skyrocketing real estate costs and a cost of living that's steadily creeping up, Florida did not take any of the top five spots in Bankrate's recent ranking of best and worst states for retirees. While the state did take a spot within the top 10, it was an overlooked midwestern state that clinched the win. 

Read more: 4 reasons Americans are unprepared for retirement

Iowa was ranked number one for retirees by Bankrate, due to affordability, lower housing costs and a large population of people aged 65 and up. The average home in Iowa is $238,400, compared to the U.S. average of $388,800, according to the real estate listing site Redfin. Additionally, the state boasts low healthcare costs and does not tax those 55 and older on their retirement income. Social Security benefits are also exempt from state income taxes. 

Forty percent of retirees plan to move to a new state during their retirement, according to a survey by Nationwide. But ensuring wherever you live is affordable should be top of mind. As the average couple is expected to spend $315,000 on healthcare alone after hitting 65, according to Fidelity, having enough money to afford additional costs like housing, taxes and social needs can be a challenge. The average retiree will reach retirement age with $426,070 in accumulated retirement savings, according to the Federal Reserve. 

Read more: Stay flexible, dream big, plan ahead: How to retire right

While location is just one aspect of a secure retirement, here are the 10 best states for retirees, based on factors like affordability, overall well-being, healthcare access and cost, weather and crime: