New research shows that Colorado is one of the best states in which to retire. This comes as a bit of a surprise due to the high cost of living in some areas, especially when compared ot neighboring states.

Read More: Colorado's Independence Score Highlights Financial Strengths |

So, what exactly makes Colorado one of the best in the nation in which to retire?

Why is Colorado One of the Best States for Retirees?

The study was released by WalletHub recently, and names Colorado as the third best state in which to retire, just behind Minnesota and Florida, which were named the second and first best states for retirees, respectively.

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Below Colorado at number four was the Centennial State's neighbor to the north, Wyoming, and South Dakota landed at number five.

There's no question that Colorado is one of the most beautiful states in the nation, but the cost of living is especially high in the state's most populated areas, like Denver and Colorado Springs.

So, what exactly makes Colorado such a great place to retire?

According to the report from WalletHub, Colorado's lower taxes make it easier for those on a fixed income to live comfortably.

That, along with easy access to medical care and assistance with homemaking, are some of the reasons why the Centennial State ranks so high on this particular list in 2025.

In addition, Colorado is considered a great place for retirees who prefer an independent lifestyle, not necessarily in close proximity to immediate family.

Check out the full report from WalletHub here.

Take a Rare Tour of an Eerily Abandoned Colorado State Park

WARNING: Under no circumstances should you enter this property. By doing so you risk bodily harm and/or prosecution for trespassing on private property.

Bonny Lake State Park was once Colorado’s easternmost state park. However, after being abandoned in 2011, the old park carries a much more ominous feel than it did in its heyday.

Gallery Credit: Nate Wilde

Former Colorado Homestead Turned State Park is a Hiker’s Paradise

Take a look around Staunton State Park, a former homestead that was donated to the state of Colorado.

Gallery Credit: Nate Wilde

Coloradans List Ideas to Introduce First-Timers to the State

Check out some great places across Colorado that residents recommend for first-timers.

Gallery Credit: Nate Wilde

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