Here's How Much a Comfortable Retirement Costs in Each State in 2026
Retirement isn’t a one‑size‑fits‑all number, even if you have $1 million in the bank. In fact, you might get financial whiplash trying to navigate the wildly changing costs of becoming a comfortable retiree in 2026. The biggest price tags, such as housing, healthcare, taxes and the overall cost of living, will vary by location and your unique situation.
That’s why understanding how much money you need to retire in each state has become one of the most important steps in intermediate to professional retirement planning. Whether you’re approaching building your nest egg decades ahead, or tightening some bolts on your retirement accounts for when you leave work next year, knowing the true cost can help you set realistic savings goals, maximize Social Security and avoid unpleasant surprises later in life.
Also See: Income Needed To Crack the Top 10% in Every State
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Here is a state‑by‑state look at how much a comfortable retirement actually costs, no matter where you land, and how much you have to save monthly (assuming you are counting on collecting Social Security) to reach that goal. States are ranked from highest cost of living to lowest.
Key Findings
In 13 states -- Hawaii, California, Massachusetts, Washington, New Jersey, Colorado, New Hampshire, Oregon, Rhode Island, Utah, Alaska, New York and Connecticut -- it costs more than $100,000 a year to live comfortably in retirement.
The current average monthly Social Security retirement check is approximately $2,079.49. Unfortunately, this won’t cover your retirement costs fully in any state if you're looking to live a certain lifestyle.
You can retire comfortably in Kentucky, Oklahoma, Arkansas, Louisiana, Mississippi and West Virginia if you start saving at least $1,500 every month from age 20 onward.
If you’re starting your savings journey at age 30, you would need to set aside at least $2,000 a month to live in Iowa, Alabama, Kentucky, Oklahoma, Arkansas, Louisiana, Mississippi and West Virginia.
Savings and cost of living are calculated after Social Security is factored in. The average annual Social Security benefit is $24,894.
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1. Hawaii
Population 65+ (%): 20.5%
Median household income: $100,745
Comfortable cost of retirement annually: $156,610
Comfortable cost of retirement over 20 years: $3,132,206
Monthly savings to retire at 65:
Start saving at 20: $5,800
Start saving at 30: $7,458
2. California
Population 65+ (%): 15.7%
Median household income: $100,149
Comfortable cost of retirement annually: $121,879
Comfortable cost of retirement over 20 years: $2,437,577
Monthly savings to retire at 65:
Start saving at 20: $4,514
Start saving at 30: $5,804
3. Massachusetts
Population 65+ (%): 17.9%
Median household income: $104,828
Comfortable cost of retirement annually: $111,145
Comfortable cost of retirement over 20 years: $2,222,904
Monthly savings to retire at 65:
Start saving at 20: $4,116
Start saving at 30: $5,293
4. Washington
Population 65+ (%): 16.6%
Median household income: $99,389
Comfortable cost of retirement annually: $95,099
Comfortable cost of retirement over 20 years: $1,901,987
Monthly savings to retire at 65:
Start saving at 20: $3,522
Start saving at 30: $4,529
5. New Jersey
Population 65+ (%): 17.2%
Median household income: $104,294
Comfortable cost of retirement annually: $90,511
Comfortable cost of retirement over 20 years: $1,810,212
Monthly savings to retire at 65:
Start saving at 20: $3,352
Start saving at 30: $4,310
6. Colorado
Population 65+ (%): 15.6%
Median household income: $97,113
Comfortable cost of retirement annually: $84,922
Comfortable cost of retirement over 20 years: $1,698,436
Monthly savings to retire at 65:
Start saving at 20: $3,145
Start saving at 30: $4,044
7. New Hampshire
Population 65+ (%): 20.1%
Median household income: $99,782
Comfortable cost of retirement annually: $82,775
Comfortable cost of retirement over 20 years: $1,655,499
Monthly savings to retire at 65:
Start saving at 20: $3,066
Start saving at 30: $3,942
8. Oregon
Population 65+ (%): 19.1%
Median household income: $85,220
Comfortable cost of retirement annually: $82,078
Comfortable cost of retirement over 20 years: $1,641,558
Monthly savings to retire at 65:
Start saving at 20: $3,040
Start saving at 30: $3,908
9. Rhode Island
Population 65+ (%): 18.7%
Median household income: $83,504
Comfortable cost of retirement annually: $81,444
Comfortable cost of retirement over 20 years: $1,628,881
Monthly savings to retire at 65:
Start saving at 20: $3,016
Start saving at 30: $3,878
10. Utah
Population 65+ (%): 11.9%
Median household income: $96,658
Comfortable cost of retirement annually: $80,577
Comfortable cost of retirement over 20 years: $1,611,542
Monthly savings to retire at 65:
Start saving at 20: $2,984
Start saving at 30: $3,837
11. Alaska
Population 65+ (%): 13.8%
Median household income: $95,665
Comfortable cost of retirement annually: $77,832
Comfortable cost of retirement over 20 years: $1,556,638
Monthly savings to retire at 65:
Start saving at 20: $2,883
Start saving at 30: $3,706
12. New York
Population 65+ (%): 17.9%
Median household income: $85,820
Comfortable cost of retirement annually: $77,780
Comfortable cost of retirement over 20 years: $1,555,600
Monthly savings to retire at 65:
Start saving at 20: $2,881
Start saving at 30: $3,704
13. Connecticut
Population 65+ (%): 18.5%
Median household income: $96,049
Comfortable cost of retirement annually: $77,627
Comfortable cost of retirement over 20 years: $1,552,539
Monthly savings to retire at 65:
Start saving at 20: $2,875
Start saving at 30: $3,697
14. Maryland
Population 65+ (%): 16.7%
Median household income: $102,905
Comfortable cost of retirement annually: $73,119
Comfortable cost of retirement over 20 years: $1,462,380
Monthly savings to retire at 65:
Start saving at 20: $2,708
Start saving at 30: $3,482
15. Idaho
Population 65+ (%): 17%
Median household income: $81,166
Comfortable cost of retirement annually: $72,559
Comfortable cost of retirement over 20 years: $1,451,185
Monthly savings to retire at 65:
Start saving at 20: $2,687
Start saving at 30: $3,455
16. Montana
Population 65+ (%): 20.1%
Median household income: $75,340
Comfortable cost of retirement annually: $72,105
Comfortable cost of retirement over 20 years: $1,442,100
Monthly savings to retire at 65:
Start saving at 20: $2,671
Start saving at 30: $3,434
17. Nevada
Population 65+ (%): 17%
Median household income: $81,134
Comfortable cost of retirement annually: $70,605
Comfortable cost of retirement over 20 years: $1,412,100
Monthly savings to retire at 65:
Start saving at 20: $2,615
Start saving at 30: $3,362
18. Maine
Population 65+ (%): 22.4%
Median household income: $76,442
Comfortable cost of retirement annually: $69,161
Comfortable cost of retirement over 20 years: $1,383,217
Monthly savings to retire at 65:
Start saving at 20: $2,562
Start saving at 30: $3,293
19. Arizona
Population 65+ (%): 18.9%
Median household income: $81,486
Comfortable cost of retirement annually: $68,642
Comfortable cost of retirement over 20 years: $1,372,832
Monthly savings to retire at 65:
Start saving at 20: $2,542
Start saving at 30: $3,269
20. Virginia
Population 65+ (%): 16.7%
Median household income: $92,090
Comfortable cost of retirement annually: $67,278
Comfortable cost of retirement over 20 years: $1,345,558
Monthly savings to retire at 65:
Start saving at 20: $2,492
Start saving at 30: $3,204
21. Vermont
Population 65+ (%): 21.4%
Median household income: $82,730
Comfortable cost of retirement annually: $67,239
Comfortable cost of retirement over 20 years: $1,344,780
Monthly savings to retire at 65:
Start saving at 20: $2,490
Start saving at 30: $3,202
22. Delaware
Population 65+ (%): 20.6%
Median household income: $87,534
Comfortable cost of retirement annually: $65,784
Comfortable cost of retirement over 20 years: $1,315,689
Monthly savings to retire at 65:
Start saving at 20: $2,436
Start saving at 30: $3,133
23. Florida
Population 65+ (%): 21.3%
Median household income: $77,735
Comfortable cost of retirement annually: $63,445
Comfortable cost of retirement over 20 years: $1,268,902
Monthly savings to retire at 65:
Start saving at 20: $2,350
Start saving at 30: $3,021
24. Wyoming
Population 65+ (%): 18.5%
Median household income: $75,532
Comfortable cost of retirement annually: $58,610
Comfortable cost of retirement over 20 years: $1,163,199
Monthly savings to retire at 65:
Start saving at 20: $2,154
Start saving at 30: $2,770
25. Minnesota
Population 65+ (%): 17.3%
Median household income: $87,117
Comfortable cost of retirement annually: $58,131
Comfortable cost of retirement over 20 years: $1,162,628
Monthly savings to retire at 65:
Start saving at 20: $2,153
Start saving at 30: $2,768
26. North Carolina
Population 65+ (%): 17.2%
Median household income: $73,958
Comfortable cost of retirement annually: $57,095
Comfortable cost of retirement over 20 years: $1,141,899
Monthly savings to retire at 65:
Start saving at 20: $2,115
Start saving at 30: $2,719
27. Georgia
Population 65+ (%): 15%
Median household income: $79,991
Comfortable cost of retirement annually: $55,349
Comfortable cost of retirement over 20 years: $1,106,989
Monthly savings to retire at 65:
Start saving at 20: $2,050
Start saving at 30: $2,636
28. Wisconsin
Population 65+ (%): 18.5%
Median household income: $77,488
Comfortable cost of retirement annually: $54,807
Comfortable cost of retirement over 20 years: $1,096,140
Monthly savings to retire at 65:
Start saving at 20: $2,030
Start saving at 30: $2,610
29. South Dakota
Population 65+ (%): 18%
Median household income: $76,881
Comfortable cost of retirement annually: $53,707
Comfortable cost of retirement over 20 years: $1,074,141
Monthly savings to retire at 65:
Start saving at 20: $1,989
Start saving at 30: $2,557
30. New Mexico
Population 65+ (%): 19.3%
Median household income: $67,816
Comfortable cost of retirement annually: $53,104
Comfortable cost of retirement over 20 years: $1,062,088
Monthly savings to retire at 65:
Start saving at 20: $1,967
Start saving at 30: $2,529
31. Tennessee
Population 65+ (%): 17.1%
Median household income: $71,997
Comfortable cost of retirement annually: $51,735
Comfortable cost of retirement over 20 years: $1,034,692
Monthly savings to retire at 65:
Start saving at 20: $1,916
Start saving at 30: $2,464
32. Texas
Population 65+ (%): 13.4%
Median household income: $79,721
Comfortable cost of retirement annually: $51,355
Comfortable cost of retirement over 20 years: $1,027,090
Monthly savings to retire at 65:
Start saving at 20: $1,902
Start saving at 30: $2,445
33. South Carolina
Population 65+ (%): 18.9%
Median household income: $72,350
Comfortable cost of retirement annually: $51,097
Comfortable cost of retirement over 20 years: $1,021,931
Monthly savings to retire at 65:
Start saving at 20: $1,892
Start saving at 30: $2,433
34. Illinois
Population 65+ (%): 17%
Median household income: $83,211
Comfortable cost of retirement annually: $50,166
Comfortable cost of retirement over 20 years: $1,003,326
Monthly savings to retire at 65:
Start saving at 20: $1,858
Start saving at 30: $2,389
35. North Dakota
Population 65+ (%): 16.5%
Median household income: $77,871
Comfortable cost of retirement annually: $49,760
Comfortable cost of retirement over 20 years: $995,192
Monthly savings to retire at 65:
Start saving at 20: $1,843
Start saving at 30: $2,370
36. Pennsylvania
Population 65+ (%): 19.5%
Median household income: $77,545
Comfortable cost of retirement annually: $49,034
Comfortable cost of retirement over 20 years: $980,678
Monthly savings to retire at 65:
Start saving at 20: $1,816
Start saving at 30: $2,335
37. Nebraska
Population 65+ (%): 16.7%
Median household income: $76,376
Comfortable cost of retirement annually: $46,710
Comfortable cost of retirement over 20 years: $934,206
Monthly savings to retire at 65:
Start saving at 20: $1,730
Start saving at 30: $2,224
38. Missouri
Population 65+ (%): 17.9%
Median household income: $71,589
Comfortable cost of retirement annually: $44,423
Comfortable cost of retirement over 20 years:
Monthly savings to retire at 65 w/Social Security
Start saving at 20: $1,645
Start saving at 30: $2,115
39. Indiana
Population 65+ (%): 16.8%
Median household income: $71,959
Comfortable cost of retirement annually: $44,126
Comfortable cost of retirement over 20 years: $882,525
Monthly savings to retire at 65:
Start saving at 20: $1,634
Start saving at 30: $2,101
40. Kansas
Population 65+ (%): 17%
Median household income: $75,514
Comfortable cost of retirement annually: $43,958
Comfortable cost of retirement over 20 years: $879,169
Monthly savings to retire at 65:
Start saving at 20: $1,628
Start saving at 30: $2,093
41. Ohio
Population 65+ (%): 18.3%
Median household income: $72,212
Comfortable cost of retirement annually: $43,914
Comfortable cost of retirement over 20 years: $878,282
Monthly savings to retire at 65:
Start saving at 20: $1,626
Start saving at 30: $2,091
42. Michigan
Population 65+ (%): 18.6%
Median household income: $72,389
Comfortable cost of retirement annually: $43,426
Comfortable cost of retirement over 20 years: $868,526
Monthly savings to retire at 65:
Start saving at 20: $1,608
Start saving at 30: $2,068
43. Iowa
Population 65+ (%): 18.1%
Median household income: $75,501
Comfortable cost of retirement annually: $41,059
Comfortable cost of retirement over 20 years: $821,180
Monthly savings to retire at 65:
Start saving at 20: $1,521
Start saving at 30: $1,955
44. Alabama
Population 65+ (%): 17.8%
Median household income: $66,659
Comfortable cost of retirement annually: $40,092
Comfortable cost of retirement over 20 years: $818,050
Monthly savings to retire at 65:
Start saving at 20: $1,515
Start saving at 30: $1,948
45. Kentucky
Population 65+ (%): 17.3%
Median household income: $64,526
Comfortable cost of retirement annually: $40,224
Comfortable cost of retirement over 20 years: $804,482
Monthly savings to retire at 65:
Start saving at 20: $1,490
Start saving at 30: $1,915
46. Oklahoma
Population 65+ (%): 16.3%
Median household income: $66,148
Comfortable cost of retirement annually: $39,286
Comfortable cost of retirement over 20 years: $785,726
Monthly savings to retire at 65:
Start saving at 20: $1,455
Start saving at 30: $1,871
47. Arkansas
Population 65+ (%): 17.6%
Median household income: $62,106
Comfortable cost of retirement annually: $37,811
Comfortable cost of retirement over 20 years: $756,212
Monthly savings to retire at 65:
Start saving at 20: $1,400
Start saving at 30: $1,801
48. Louisiana
Population 65+ (%): 16.7%
Median household income: $60,986
Comfortable cost of retirement annually: $37,570
Comfortable cost of retirement over 20 years: $751,403
Monthly savings to retire at 65:
Start saving at 20: $1,391
Start saving at 30: $1,789
49. Mississippi
Population 65+ (%): 17.2%
Median household income: $59,127
Comfortable cost of retirement annually: $35,130
Comfortable cost of retirement over 20 years: $702,601
Monthly savings to retire at 65 w/Social Security
Start saving at 20: $1,301
Start saving at 30: $1,673
50. West Virginia
Population 65+ (%): 21%
Median household income: $60,798
Comfortable cost of retirement annually: $33,223
Comfortable cost of retirement over 20 years: $664,463
Monthly savings to retire at 65:
Start saving at 20: $1,230
Start saving at 30: $1,582
Methodology: For this study, MoneyLion found total population, population ages 65 and over, total households and household median income (via the U.S. Census American Community Survey). The cost-of-living indexes were sourced from Missouri Economic and Research Information Center for 2025 and the national average expenditure costs for retired households came from the Bureau of Labor Statistics Consumer Expenditure Survey. The average home value was sourced from Zillow Home Value Index. Using the national average 30-year fixed mortgage rate of 6.11, as sourced from the Federal Reserve Economic Data on Feb. 11, 2026, the average mortgage was calculated for each state. Using the average mortgage and expenditure costs, the total cost of living for necessities was calculated. Using the 50/30/20 finance rule that states needs should not exceed 50% of household income, the total cost of living for necessities was doubled to find the comfortable cost of living. Using the average monthly Social Security income for one retired worker, the total cost of living comfortably after Social Security income was calculated for each state. Assuming a person retires at 65 and lives to 85, 20 years of retirement was calculated. Assuming a person starts saving at 20 or 30 years old, the monthly amount needed to retire with and without Social Security income was calculated for each age. All data is up to date as of Feb. 11, 2026.
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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