Retiring in South Dakota
South Dakota ranks as the seventh best state for a physically and socially active retirement. In South Dakota, 17.4% of the population is 65 or older.
Best State for Retirement: South Dakota
South Dakota ranked the number one state to retire in, while New York State ranked the worst place in the country to retire. Additionally, South Dakota’s cost of living is 4% below the national average and there is no state income tax.
Retirement Options in South Dakota
South Dakota is one of the cheapest states for retirement living. There is no state-level income tax, so everything from Social Security and private/public pension right through to 401(k) and IRA withdrawals is only subject to federal income taxes.
Why Choose South Dakota for Retirement
If retirement is still a big question mark for you because of finances, consider relocating to a state that lets you keep more money in your pocket without requiring a drastic lifestyle change.
Retirement-Friendly Cities
Sioux Falls is named one of the best cities in America to retire. Quality of life indicators and factors promoting active retirement were considered. Sioux Falls offers high quality, affordable retirement living.
Best Places to Retire in South Dakota
Best places to retire in South Dakota include Hot Springs, Sioux Falls, and Aberdeen.
Nature Lovers’ Paradise
South Dakota is a haven for nature lovers, offering a picturesque landscape for those who seek a peaceful retirement.
Affordable Retirement Living
Located in southeastern South Dakota, Sioux Falls is a quaint river city with a median home price of $246,000, about a quarter below the national median.
Forbes Recommendation
A major business media publication has ranked Sioux Falls as one of the best cities in the country to retire in, listing it among the top 25 cities for retirees in 2020.