Alabama
- Average retirement savings balance: $395,563
- Average home value: $232,781
- Average household income: $90,741
- Annual cost of living: $75,170
Check Out: How Far $1.5 Million in Retirement Savings Plus Social Security Goes in Every State
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Alaska
- Average retirement savings balance: $503,822
- Average home value: $378,991
- Average household income: $122,082
- Annual cost of living: $111,087
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Arizona
- Average retirement savings balance: $427,418
- Average home value: $422,479
- Average household income: $110,522
- Annual cost of living: $103,408
Arkansas
- Average retirement savings balance: $364,395
- Average home value: $218,896
- Average household income: $85,474
- Annual cost of living: $71,818
California
- Average retirement savings balance: $452,135
- Average home value: $763,288
- Average household income: $140,112
- Annual cost of living: $159,036
Colorado
- Average retirement savings balance: $449,719
- Average home value: $540,183
- Average household income: $131,072
- Annual cost of living: $118,850
Also See: How Long $2 Million in Retirement Will Last in Every State
Connecticut
- Average retirement savings balance: $545,754
- Average home value: $430,086
- Average household income: $139,313
- Annual cost of living: $109,689
Delaware
- Average retirement savings balance: $454,679
- Average home value: $398,669
- Average household income: $114,291
- Annual cost of living: $100,667
Florida
- Average retirement savings balance: $428,997
- Average home value: $377,066
- Average household income: $108,835
- Annual cost of living: $96,521
Georgia
- Average retirement savings balance: $435,254
- Average home value: $332,047
- Average household income: $108,907
- Annual cost of living: $90,014
Hawaii
- Average retirement savings balance: $366,776
- Average home value: $826,575
- Average household income: $131,862
- Annual cost of living: $179,828
Find Out: How Much Money Is Needed To Be Considered Middle Class in Every State?
Idaho
- Average retirement savings balance: $437,396
- Average home value: $468,436
- Average household income: $104,073
- Annual cost of living: $108,340
Illinois
- Average retirement savings balance: $449,983
- Average home value: $283,509
- Average household income: $115,705
- Annual cost of living: $84,389
Indiana
- Average retirement savings balance: $405,732
- Average home value: $251,301
- Average household income: $95,565
- Annual cost of living: $78,796
Iowa
- Average retirement savings balance: $465,127
- Average home value: $230,258
- Average household income: $96,497
- Annual cost of living: $74,867
Discover More: How Much You Need To Be in the Top 5% in Every State
Kansas
- Average retirement savings balance: $452,703
- Average home value: $239,914
- Average household income: $101,988
- Annual cost of living: $77,317
Kentucky
- Average retirement savings balance: $441,757
- Average home value: $226,606
- Average household income: $87,717
- Annual cost of living: $74,289
Louisiana
- Average retirement savings balance: $386,908
- Average home value: $209,930
- Average household income: $86,656
- Annual cost of living: $71,768
Maine
- Average retirement savings balance: $403,751
- Average home value: $410,916
- Average household income: $102,734
- Annual cost of living: $106,091
Maryland
- Average retirement savings balance: $485,501
- Average home value: $427,629
- Average household income: $136,413
- Annual cost of living: $106,830
Massachusetts
- Average retirement savings balance: $478,947
- Average home value: $649,116
- Average household income: $144,312
- Annual cost of living: $144,235
Michigan
- Average retirement savings balance: $439,568
- Average home value: $258,642
- Average household income: $98,697
- Annual cost of living: $79,499
Minnesota
- Average retirement savings balance: $470,549
- Average home value: $344,484
- Average household income: $116,159
- Annual cost of living: $92,195
Mississippi
- Average retirement savings balance: $347,884
- Average home value: $188,641
- Average household income: $80,847
- Annual cost of living: $68,541
Missouri
- Average retirement savings balance: $410,656
- Average home value: $257,930
- Average household income: $96,920
- Annual cost of living: $77,714
Montana
- Average retirement savings balance: $390,768
- Average home value: $460,051
- Average household income: $101,634
- Annual cost of living: $107,254
Nebraska
- Average retirement savings balance: $404,650
- Average home value: $272,244
- Average household income: $100,280
- Annual cost of living: $80,991
Nevada
- Average retirement savings balance: $379,728
- Average home value: $445,669
- Average household income: $109,620
- Annual cost of living: $105,515
New Hampshire
- Average retirement savings balance: $512,781
- Average home value: $501,650
- Average household income: $128,604
- Annual cost of living: $116,535
New Jersey
- Average retirement savings balance: $514,245
- Average home value: $564,432
- Average household income: $143,216
- Annual cost of living: $123,803
New Mexico
- Average retirement savings balance: $428,041
- Average home value: $311,816
- Average household income: $91,875
- Annual cost of living: $86,749
New York
- Average retirement savings balance: $382,027
- Average home value: $508,764
- Average household income: $128,562
- Annual cost of living: $117,504
North Carolina
- Average retirement savings balance: $464,104
- Average home value: $332,681
- Average household income: $103,766
- Annual cost of living: $90,724
North Dakota
- Average retirement savings balance: $319,609
- Average home value: $281,609
- Average household income: $103,487
- Annual cost of living: $83,352
Ohio
- Average retirement savings balance: $427,462
- Average home value: $240,288
- Average household income: $97,483
- Annual cost of living: $78,373
Oklahoma
- Average retirement savings balance: $361,366
- Average home value: $216,292
- Average household income: $90,075
- Annual cost of living: $72,163
Oregon
- Average retirement savings balance: $452,558
- Average home value: $496,180
- Average household income: $110,900
- Annual cost of living: $117,665
Pennsylvania
- Average retirement savings balance: $462,075
- Average home value: $281,783
- Average household income: $107,471
- Annual cost of living: $84,591
Rhode Island
- Average retirement savings balance: $392,622
- Average home value: $490,356
- Average household income: $114,532
- Annual cost of living: $115,070
South Carolina
- Average retirement savings balance: $449,486
- Average home value: $302,294
- Average household income: $97,757
- Annual cost of living: $85,439
South Dakota
- Average retirement savings balance: $449,628
- Average home value: $315,406
- Average household income: $100,178
- Annual cost of living: $88,673
Tennessee
- Average retirement savings balance: $376,476
- Average home value: $330,598
- Average household income: $99,759
- Annual cost of living: $86,158
Texas
- Average retirement savings balance: $434,328
- Average home value: $298,906
- Average household income: $111,695
- Annual cost of living: $85,168
Utah
- Average retirement savings balance: $315,160
- Average home value: $530,804
- Average household income: $122,370
- Annual cost of living: $114,841
Vermont
- Average retirement savings balance: $494,569
- Average home value: $400,247
- Average household income: $109,920
- Annual cost of living: $103,970
Virginia
- Average retirement savings balance: $492,965
- Average home value: $404,963
- Average household income: $127,363
- Annual cost of living: $100,686
Washington
- Average retirement savings balance: $469,987
- Average home value: $595,738
- Average household income: $136,793
- Annual cost of living: $131,368
West Virginia
- Average retirement savings balance: $370,532
- Average home value: $170,604
- Average household income: $81,114
- Annual cost of living: $67,155
Wisconsin
- Average retirement savings balance: $448,975
- Average home value: $328,216
- Average household income: $100,929
- Annual cost of living: $90,013
Wyoming
- Average retirement savings balance: $451,203
- Average home value: $360,352
- Average household income: $101,197
- Annual cost of living: $92,780
Methodology: For this study, GOBankingRates conducted a comprehensive analysis of all 50 U.S. states to compare individual circumstances against statewide averages, using data from the 2024 1-year U.S. Census American Community Survey. Key metrics included total population, households, age demographics (65+) and labor force participation (16+). Cost-of-living indexes were sourced from the Missouri Economic Research and Information Center, while national average expenditure data came from the Bureau of Labor Statistics Consumer Expenditure Survey. These indexes were applied to expenditure data to estimate average spending by state. Housing costs were derived from Zillow’s Home Value Index, assuming a 10% down payment and the national average 30-year fixed mortgage rate from Federal Reserve Economic Data, enabling calculation of average mortgage costs per state. Combining mortgage and expenditure estimates yielded the total cost of necessities. Applying the 50/30/20 budgeting rule — where necessities should not exceed 50% of income — researchers doubled the necessities cost to determine the annual income required for comfortable living. All data was compiled on Oct. 20, 2025.
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