Transitioning out of the military can be challenging for many. So many things will be different; so many decisions must be made. One of those decisions that must be made is where you will live. Making the wrong choice can not only impact your personal life but also your opportunity for employment if you plan to work post-military.
LOCATION FACTORS
Recently the personal finance website WalletHub used a weighted methodology to create a list of the best states for veterans to retire based on what’s important to veterans.
Economic Environment
Whether they tax military pensions, their overall tax friendliness, a comparison of job opportunities for veterans in 2023 vs. 2022, and job growth
Quality of Life
The number of VA Benefits-Administration facilities per number of veterans, the number of homeless veterans, and the quality of the public university system
Healthcare
The number of VA health facilities per number of veterans, the quality of VA hospitals, the physicians and mental health counselors per capita
3 STATES TO AVOID
Here are the three worst states for veterans and the reasons they made it to the bottom of this list.
1. Oregon
- Overall Rank: 37.26
- Economic Environment: 45
- Quality of Life: 51
- Health Care: 35
One reason this state came in at 50 was it taxes military retirement as regular income. Plus, with a relatively high state income tax, retirees get hit hard on taxes.
Another reason is Oregon has a high cost of living – especially in the larger cities. This has led to Oregon having a high percentage of homeless veterans due to the high cost of housing and lack of economic opportunity. VA healthcare is centered in the bigger cities, so it is more challenging for military veterans to get healthcare in rural areas.
2. New Mexico
- Overall Rank: 40.66
- Economic Environment: 45
- Quality of Life: 51
- Health Care: 35
Coming in at 49, the economic environment in New Mexico is poor overall due to the low median income of the state. Plus, it has a larger than normal crime rate which drops its quality of life rating. And to top it off, its healthcare is towards the bottom of the barrel due to the fact that its main VA Medical Center is in Albuquerque and responsible for the care of around 58,000 patients. Not only is this a large patient load, but the fact that it is ranked as one of the worst healthcare facilities in the country only adds to the misery of living in this state.
3. Vermont
- Overall Rank: 41.24
- Economic Environment: 47
- Quality of Life: 44
- Health Care: 42
One reason Vermont is ranked 48 is it has the highest veteran and military personnel suicide rate in the nation – 88.7% higher than the national average. This is due in part to having poor quality of healthcare for veterans. VA healthcare facilities are very limited and can require traveling long distances to receive treatment … especially if living in a rural area.
On the economic environment side, Vermont taxes military retirement and has a high state income tax, all adding to a lower discretionary income at the end of the month when compared to other states that are more financially favorable towards veterans.
And the harsh winter of the Northeast reduces its Quality of Life rating.
That is why these three states come in at the bottom of this list. You may read other reports that either list different states or list these states in a different order. However, that is because they used a different methodology that either measured different categories or weighed the categories used.
If you are curious about the other seven states at the bottom of this list, they are:
- Colorado
- Iowa
- California
- Mississippi
- Washington
- Nevada
- District of Columbia
