The Retirement State Where Monthly Expenses Tend to Feel More Manageable
Key Points
Michigan’s low cost of living makes it an ideal state for cost-conscious retirees.
Those benefits could offset its harsh winters and other challenges.
- The $23,760 Social Security bonus most retirees completely overlook ›
Michigan usually isn't considered a top retirement state like Florida. Instead, the Great Lakes State is often associated with harsh winters, aging infrastructure, and urban blight in struggling cities like Detroit. But according to The Motley Fool's 2026 Best Places to Retire, Michigan is the fourth-best state to retire in after Florida, California, and Texas.
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One of Michigan's core strengths is its low cost of living. In our index, it has a cost-of-living score of 89 (out of 100), making it more affordable than Florida (79) and California (37) -- and only slightly more expensive than Texas (94). Its housing prices are low, it doesn't tax Social Security benefits, it doesn't charge any estate or inheritance taxes, and it's phasing out its state tax on most retirement and pension income. Those benefits could offset a lot of its other challenges.
In Michigan, the top places for retirees to settle down include Lapeer, Port Huron, and Oakland County. Its smaller, slower-paced towns are ideal for seniors, and the state offers good healthcare options -- including the University of Michigan Health (Ann Arbor), Beaumont Health (Royal Oak), and Spectrum Health. Once winter passes, there are plenty of outdoor activities for retirees to enjoy along the Great Lakes throughout the milder seasons.
The $23,760 Social Security bonus most retirees completely overlook
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