Is It Better To Retire In Massachusetts Or New Hampshire?

The personal-finance website says it compared all 50 states across 47 key metrics, including affordability, health care, and quality of life. New Hampshire tied with Arizona as the ninth best state to retire, while Massachusetts ranked 19th on the list.

Is it cheaper to live in Massachusetts or NH?

The cost of living in NH is 15% less than MA.

Where does NH rank for retirement?

New Hampshire ranked third when it comes to health and wellbeing, which includes a host of different factors such as: Life expectancy. Risk of social isolation for those 65 and older. Number of healthcare benchmarks for seniors that are at least average.

Where does Massachusetts rank for retirement?

Best States to Retire

Is NH a retirement friendly state?

New Hampshire is tax-friendly toward retirees. Social Security income is not taxed. Withdrawals from retirement accounts are not taxed. Wages are taxed at normal rates, and your marginal state tax rate is 5.90%.

Is it better to buy a house in NH or MA?

While New Hampshire does have a higher property tax, hovering around an average of 2.05% of the overall property value compared to the Massachusetts average of 1.15%, homeowners could be saving their money in other ways.

What is the best place to live in New Hampshire?

The Top 15 Best Towns to Live Throughout New Hampshire [2022]

1. 15 Communities to Call Home. The Granite State is filled with great places to call home.
2. Portsmouth. (pop.
3. Londonderry. (pop.
4. Amherst. (pop.
5. Exeter. (pop.
6. Wolfeboro. (pop.
7. Hanover. (pop.
8. Dover. (pop.

Which New England state is best for retirees?

New Hampshire tied with Arizona as the ninth best state to retire, while Massachusetts ranked 19th on the list. Maine, Vermont, and Connecticut all raked just inside the top 30 best places to retire.

Does NH tax retirement income?

Pensions: New Hampshire is the only New England state without a general income tax. The state currently imposes a tax on interest and dividends instead (although it’s being phased out and will be completely repealed in 2027). That means no tax on your pension income if you retire to the Granite State.

Is Massachusetts a good retirement state?

Often overlooked for warmer and less expensive climates, Massachusetts is a hidden gem of retirement locales. In fact, Bankrate has rated the Bay State number seven on their best states to retire list.

What is the #1 retirement state?

1. (tie) West Virginia. Like Iowa, West Virginia is another state you might not think of as a retirement destination until you look at the numbers. Affordability is a big factor for anyone on a tight retirement budget, and West Virginia has the fifth-lowest average property tax burden in the country.

What states to avoid when retiring?

Places to retire

Where in Massachusetts should you not live?

The 20 Worst Places to Live in Massachusetts

• Brockton, Mass. Brockton is located in the eastern region of Massachusetts.
• Holyoke, Mass. Holyoke is located in the western part of the state near the Springfield Metropolitan area.
• New Bedford, Mass.
• Boston, Mass.
• Lynn, Mass.
• Lawrence, Mass.
• Fall River, Mass.
• Chelsea, Mass.

Do seniors pay property taxes in New Hampshire?

65-74 years of age are allowed $156,000 assessed value deducted from total assessed value. 75-79 years of age are allowed $210,000 assessed value deducted from total assessed value. 80+ years of age are allowed $280,000 assessed value deducted from total assessed value.

How much money do I need to retire in New Hampshire?

In New Hampshire, a comfortable retirement will cost the average 65 year old an estimated $1,180,933, about $60,500 more than it would cost the typical 65 year old American. Goods and services are 6.5% more expensive in New Hampshire than they are on average nationwide.

Are NH property taxes high?

New Hampshire is known as a low-tax state. But while the state has no personal income tax and no sales tax, it has the fourth-highest property tax rates of any U.S. state, with an average effective rate of 2.05%. Consequently, the median annual property tax payment here is $5,768. Not in New Hampshire?

What are the pros and cons of living in New Hampshire?

The Pros And Cons Of Living In New Hampshire

• Natural beauty in a tranquil setting.
• Low crime rates.
• Good economic and educational opportunities.
• No sales tax.
• No state income tax on salaries and wages.
• High property taxes.
• Harsh and long winters.
• Limited diversity.

Do NH residents pay Ma income tax?

If you’re a New Hampshire resident working in Massachusetts, taxes can seem complicated, but they don’t have to be that way. Essentially, you should pay Massachusetts income taxes for the wages or salaries that you earn while physically working in Massachusetts.

What town has the lowest tax rate in NH?

Hebron has the lowest property tax rate in New Hampshire with a property tax rate of 6.52. Moultonborough has the second lowest property tax rate in New Hampshire with a property tax rate of 6.98 and Bridgewater has the 3rd lowest property tax rate in New Hampshire with a property tax rate of 8.27.

What should you know before moving to New Hampshire?

Quick facts to know before moving to New Hampshire

• There are no income and sales taxes in New Hampshire.
• Crime rates in New Hampshire are lower than the national average.
• Unemployment rates in New Hampshire are lower than the U.S. average.
• New Hampshire median home cost is $274,300.

What is the safest place to live in New Hampshire?

In New Hampshire, 42% of residents are concerned for their safety daily, which isn’t far from the national average of 47%.
Here are the 10 Safest Cities in New Hampshire for 2022

• Kingston.
• Weare.
• Sandown.
• New Boston.
• Enfield.
• Epsom.
• Windham.
• Danville.