Why South Dakota is the New Florida for Retirees

Image: Mt. Rushmore Closed Due To Government Shutdown
South Dakota ranks as the top state for retirement, according to a study from Bankrate.com that looked at cost of living, crime rate, health care quality, state and local tax burden, personal well-being and weather.Scott Olson / Getty Images

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/ Source: CNBC.com

Florida and Arizona definitely have the weather going for them, but when it comes to quality of life, South Dakota tops the new list of Best States for Retirement from Bankrate.com.

The state has a lot going for it: a low cost of living, low crime rate, low tax burden, quality health care, and the people who live there are happy with their communities.

The rest of the top five best states to retire are: Colorado, Utah, North Dakota and Wyoming. Arizona (16) and Florida (39) didn't even make the top 10.

"While the states that ranked highly may not be thought of as typical retiree havens, seniors should consider more than sunshine when choosing a place for their golden years," said Bankrate.com research and statistics analyst Chris Kahn in a statement.

Both Dakotas made it into Bankrate's top 10 for the second year in a row.

The five states that rated the lowest based on the Bankrate.com analysis are Hawaii, Arkansas, Alaska, West Virginia and New York (which came in at number 50).

Of course, no one decides where to retire based on a survey of a few data points, such as weather or taxes. In many cases, the move is made to be near family. But if you are considering places to relocate when you retire, you might want to compare how various states rate on some of these factors.

You can find the complete survey results at: Best places to retire.