The Same Retirement Costs $306,000 More in California Than in Mississippi. Here Is Your State's Number.
To retire with a paid-off home, one woman needs about $525,000 saved if she lives in Mississippi, and about $831,000 if she lives in California. Same quiet, comfortable life. $306,000 apart. Most women never find out what their own state costs until it is too late to change the plan. You can see where you stand in about ten minutes, for free, with the free Money Mastery Net Worth Tracker. There is nothing to buy. Start your free tracker now, then come back and we will teach you how each state's number is built.
What you will learn here
The estimated nest egg for a single retiree with a paid-off home in all 50 states and Washington, D.C.
The exact formula, in plain words, so you can check it and use it on your own numbers.
The five numbers that make up your retirement number, and where to find each one.
Five quiet mistakes that change your number more than the state does.
A 30 minute plan to find your own number today.
A paid-off home makes retirement lighter, not free
Paying off your mortgage removes your biggest monthly bill. It does not remove the cost of owning a home. You still pay property taxes, homeowners insurance, utilities, repairs and upkeep, and in some places association fees. So the question is not "do I need less?" The question is "how much less, and where?" That answer changes with your state, and it changes even more with your own bills.
How the number is built, in five lines
We wanted a method anyone can repeat with public data. Here it is, with Ohio as the example.
Start with a national yearly cost. A recent Investopedia analysis put the nest egg for a single retiree with a paid-off home at about $693,000 nationally, counted the average single Social Security benefit of $23,704 a year, and used the 4% rule (references 1 and 3). Working backward, that is a yearly cost of about $51,400.
Adjust for your state's prices. The U.S. Bureau of Economic Analysis publishes regional price parities: how much prices in each state differ from the national average of 100 (reference 2). Ohio is 92.8, so $51,400 x 92.8% = about $47,700 a year.
Subtract Social Security. That money arrives every month no matter what your savings do. $47,700 minus $23,704 leaves about $24,000 a year to come from savings.
Divide by 4 percent. The 4% rule says you can take about 4 percent of your savings in the first year and adjust for inflation after that (reference 3). $24,000 divided by 0.04 is $600,000.
Treat it as a starting point. It is a planning number, not a promise, and it gets better the moment you replace the averages with your own numbers.
The nest egg by state
Estimates for one person with a paid-off home, at 2024 prices, rounded on purpose.
State | Price level (US = 100) | Yearly cost | Nest egg needed |
Alabama | 88.8 | $45,700 | $549,000 |
Alaska | 102.4 | $52,600 | $723,000 |
Arizona | 100.7 | $51,800 | $702,000 |
Arkansas | 86.9 | $44,700 | $525,000 |
California | 110.7 | $56,900 | $831,000 |
Colorado | 103.1 | $53,000 | $732,000 |
Connecticut | 103.6 | $53,300 | $739,000 |
Delaware | 99.8 | $51,300 | $691,000 |
District of Columbia | 109.9 | $56,500 | $820,000 |
Florida | 103.4 | $53,200 | $737,000 |
Georgia | 96.3 | $49,500 | $645,000 |
Hawaii | 110.0 | $56,500 | $821,000 |
Idaho | 95.5 | $49,100 | $635,000 |
Illinois | 100.0 | $51,400 | $692,000 |
Indiana | 93.3 | $48,000 | $607,000 |
Iowa | 87.8 | $45,100 | $536,000 |
Kansas | 90.1 | $46,300 | $565,000 |
Kentucky | 90.2 | $46,400 | $566,000 |
Louisiana | 88.2 | $45,400 | $541,000 |
Maine | 97.0 | $49,900 | $655,000 |
Maryland | 105.0 | $54,000 | $757,000 |
Massachusetts | 105.8 | $54,400 | $767,000 |
Michigan | 96.2 | $49,500 | $644,000 |
Minnesota | 98.6 | $50,700 | $675,000 |
Mississippi | 87.0 | $44,700 | $525,000 |
Missouri | 90.8 | $46,700 | $575,000 |
Montana | 94.6 | $48,700 | $624,000 |
Nebraska | 90.1 | $46,300 | $566,000 |
Nevada | 100.0 | $51,400 | $693,000 |
New Hampshire | 104.2 | $53,600 | $747,000 |
New Jersey | 108.8 | $56,000 | $806,000 |
New Mexico | 92.2 | $47,400 | $593,000 |
New York | 107.9 | $55,500 | $795,000 |
North Carolina | 94.3 | $48,500 | $620,000 |
North Dakota | 89.0 | $45,700 | $551,000 |
Ohio | 92.8 | $47,700 | $600,000 |
Oklahoma | 87.8 | $45,200 | $537,000 |
Oregon | 103.4 | $53,200 | $736,000 |
Pennsylvania | 97.6 | $50,200 | $662,000 |
Rhode Island | 102.3 | $52,600 | $722,000 |
South Carolina | 93.7 | $48,200 | $613,000 |
South Dakota | 88.6 | $45,600 | $546,000 |
Tennessee | 91.9 | $47,200 | $588,000 |
Texas | 97.1 | $49,900 | $655,000 |
Utah | 98.9 | $50,800 | $678,000 |
Vermont | 98.0 | $50,400 | $667,000 |
Virginia | 101.1 | $52,000 | $707,000 |
Washington | 107.0 | $55,000 | $783,000 |
West Virginia | 89.5 | $46,000 | $558,000 |
Wisconsin | 94.1 | $48,400 | $617,000 |
Wyoming | 92.7 | $47,700 | $599,000 |
What stands out
Most expensive: California, Hawaii, Washington, D.C., New Jersey and New York, all above $790,000.
Least expensive: Mississippi, Arkansas, Iowa, Oklahoma and Louisiana, all below $545,000.
The middle is wide. About half of the states land between $600,000 and $750,000, which means your own habits will matter more than your zip code.
Other lists differ, and that is normal. Investopedia's own state numbers run from $572,000 in Arkansas to $909,000 in New Jersey (reference 1). Theirs adds each state's actual property tax and insurance for homeowners over 65. Ours scales one national cost by each state's price level. Both are estimates, and neither knows you.
Teach yourself: the five numbers behind your number
Your yearly spending in retirement. Add up your last 12 months of real bills, then take out the mortgage if it is gone. Do not guess. Real bills beat averages every time.
Your Social Security. Your own estimate is free at ssa.gov (create a "my Social Security" account, reference 4). It may be higher or lower than the national average we used, and that changes your number directly.
Other steady income. A pension, rental income, part-time work. Anything that shows up every month lowers what your savings must cover.
Your withdrawal rate. The 4% rule is a starting point. Some people plan on 3.5 percent to be careful, and some can go a little higher with flexibility. A lower rate means a bigger nest egg.
Your timeline. Retiring later shortens the years your savings must last and gives them longer to grow. Retiring earlier does the reverse. Try both and see.
Five quiet mistakes that move your number more than your state
Assuming a paid-off home costs nothing. Property tax, insurance and upkeep are real. List them.
Counting spending before tax as if it were after tax. Withdrawals from some accounts are taxed. Know which of your accounts are which.
Ignoring inflation. A dollar buys less every year, so a plan that works in year one has to keep working in year twenty.
Leaving out health care. Premiums, deductibles and the surprise bills all belong in the yearly spending number.
Borrowing someone else's Social Security estimate. Use your own.
Your 30 minute plan
Write down your last 12 months of real spending. About 10 minutes.
Pull your own Social Security estimate. About 5 minutes.
Put your accounts into the free Net Worth Tracker: savings, retirement accounts, your home, anything you owe. About 10 minutes.
Look at what your accounts could be worth later. The tracker lets you use your own growth assumptions or ours.
Change one thing, such as retiring two years later or spending a little less, and watch the picture move. About 5 minutes.
See your own number, free
The free Money Mastery Net Worth Tracker (La Soglia) puts everything you own and owe in one place, personal and business together, with more than 60 account types. You can set growth assumptions and look forward, and you get a few free questions to Clarity AI each month. It takes a few minutes to start, and it is free. There is no catch and nothing to buy.
Want your projection as a picture?
Once your numbers are in the free tracker, ask us to turn your projection into clear graphics you can keep, share with your family, or bring to an advisor. Send your request through the Money Mastery System and we will build the graphics from your tracker.
Questions we hear
What is the 4% rule? A rule of thumb: withdraw about 4 percent of your savings in your first year of retirement, then adjust that amount for inflation each year. It came from historical research and it is a starting point, not a guarantee.
Does a paid-off home mean I need less saved? Usually yes, because you no longer pay a mortgage. But you still pay property tax, insurance, utilities and upkeep, so it is less, not zero.
Are these numbers after tax? No. They do not include income tax on withdrawals, which depends on your accounts and your state. Ask a tax professional about yours.
Is there a number I should aim for? Aim for your own. The state number is a place to start and your bills are the real answer.
Can I use this if I am not retired yet? Yes. The earlier you know your number, the more choices you have.
This article is for education and is not financial, tax or legal advice. The numbers are estimates based on public data and stated assumptions, and your situation will differ. Talk with a qualified professional before making retirement decisions.
References
Investopedia, "The Nest Egg You Need to Retire Comfortably With a Paid-Off Home in Each State," published September 10, 2026, as carried by Yahoo Finance: https://finance.yahoo.com/real-estate/articles/nest-egg-retire-comfortably-paid-003148635.html (national nest egg of about $693,000; average single Social Security benefit of $23,704; 4% rule; state range $572,000 to $909,000).
U.S. Bureau of Economic Analysis, Regional Price Parities by State and Metro Area, 2024 data, released February 19, 2026: https://www.bea.gov/data/prices-inflation/regional-price-parities-state-and-metro-area (state values from table SARPP at https://apps.bea.gov/regional/downloadzip.htm).
Bengen, William P., "Determining Withdrawal Rates Using Historical Data," Journal of Financial Planning, October 1994 (the source of the 4% rule of thumb).
Social Security Administration, my Social Security account: https://www.ssa.gov/myaccount/
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