KNOXVILLE (WATE) – In East Tennessee, lots of retirees have settled in Loudon and Cumberland counties where big communities for leisurely living have been built. What does it take be ranked as the best place to retire?
Sandy from Knoxville asks: “Some surveys rate Tennessee as a popular retirement state. How are we doing this year?”
The Volunteer State was ranked as the best place to retire in the 2013 survey by Bankrate.com.
More online: Bankrate.com 2014 Best States to Retire
A year ago, the considerations were based on the number of doctors per 100,000 people and hospital beds per 1,000 residents.
It also included crime statistics, the state and local tax burden, the average temperature, and cost of living.
However, in 2014, Bankrate.com added a few new categories to the best retirement rating system; we also fell in a few categories. As a result, Tennessee dropped in the rankings.
This year, the possible average days of sunshine and humidity were added to the equation. You know how humid summer can be here in East Tennessee.
As a result, the Volunteer State is now the 31st best state in which to retire, not the best place.
One category that contributed in driving the rating down this year was the state’s high crime rate. We’re the second highest according to the Bankrate.com scoring.
However in 2014, Tennessee is ranked the fifth lowest in the country when it come to cost of living, and sixth lowest when state and local taxes are added up.
South Dakota came out on top in 2014 as the best place to retire due to it’s low tax burden, low crime rate, and high wellness score.
The western states of Colorado, Utah, North Dakota and Wyoming round out the top five best states to retire.
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