To determine the best and worst states in which to grow old, 24/7 Wall St. reviewed several statewide as well as elderly population-specific data. The data includes income, health, education, and environment and access. We created an index of the various measures for each of these four broad categories. The geometric mean of the four index values was used to rank states.
To construct the indices we used the min-max normalization method. For reference, a similar methodology was used in constructing HelpAge International’s Global AgeWatch Index and the United Nation’s Human Development Index.
The percentage of elderly households with supplemental retirement income as well as poverty rates and median household income for the 65 and over population are one-year estimates from the U.S. Census Bureau’s 2017 American Community Survey. Additionally, as a measure of cost of living, we considered regional price parity from the Bureau of Economic Analysis.
The percentage of non-institutionalized people 65 and over with a disability came from the Census. We also included healthy life expectancy after the age of 65 from the the Centers for Disease Control and Prevention for 2007-2009; the percentage of adults who reported having a personal doctor in 2014 from the Kaiser Family Foundation; and the 2017 crude elderly mortality rate per 100,000 people 65 and over in each state, also from the CDC.
The share of people 65 and over with a bachelor’s degree or higher came from the ACS.
Environment and Access
2017 violent crime rates from the FBI’s Uniform Crime Report, and the share of workers who walk or use public transportation is from the ACS. The concentration of social establishments — restaurants, libraries, civic organizations, among others — as well as the number of hospitals in the state came from County Business Patterns and are for 2016.