Although New York is home to one of the priciest cities in the world, the state itself no longer ranks as the most expensive U.S. state to retire, according to Bankrate.
This year, California takes the top spot on Bankrate’s ranking of the most expensive states to retire, knocking New York — last year’s No.1 — to second place.
To determine affordability, Bankrate analyzed state-level data on the cost of living, state and local sales taxes, average annual property taxes and the average cost of homeowners insurance from a number of sources, including the Council for Community and Economic Research and the Tax Foundation.
Here are the top 10 most expensive states to retire, according to Bankrate.
California living doesn’t come cheap
California is well-known for having a high cost of living. Its overall cost of living is about 38% higher than the national average, and housing costs are 97% higher than the rest of the country, according to RentCafe.
That can make it hard …