Yahoo Finance 8 Reasons You Don’t Want To Retire in Michigan
Michigan is a beautiful state with affordable housing and plenty to do. But it may not be the best place for you to retire.
Learn More: 16 Best Places To Retire in the US That Feel Like Europe
Find Out: 7 Common Debt Scenarios That Could Impact Your Retirement — and How To Handle Them
The Wolverine State has a few issues that could impact your quality of life as a retiree. Consider these factors before making Michigan your post-work home.
Wealthy people know the best money secrets. Learn how to copy them.
Harsh Winters
First, Michigan’s winters are brutal. They’re notoriously cloudy and can be extremely snowy depending on where you live. Just leaving the house in weather like this can feel like a chore, especially if you’re new to the area.
Older adults can also experience dangerous winter falls. Ice and snow create slippery conditions that have an outsized impact on seniors. It’s a risk you wouldn’t have to worry about if you retired to a warmer place instead.
Relatively High Property Tax Rates
Many people who consider retiring in Michigan do so, in part, because the state is so affordable. But you might have to pay more for your home as Michigan has an average property tax rate of 1.38%. That’s the 38th-highest in the United States — more than in Minnesota, Maryland, Oregon and Washington.
Retirees often already own their homes outright. That means your main housing expense may be property taxes instead of a mortgage payment. So even though you may be able to afford a bigger home in Michigan, you could end up paying more to own it.
Trending Now: 4 Places To Retire That Are Better Than Florida — and Way Cheaper
Expensive Car Insurance
Michigan has the most expensive average car insurance prices of anywhere in the United States. Full coverage will set you back an average of $386 per month. That’s over $4,600 annually, and potentially more if you have other factors that increase your risk as a driver.
Compare that with nearby Wisconsin. Its average price for full car insurance coverage is just $128 monthly — a little over $1,500 annually. So just driving in Michigan can add thousands to your budget.
Below Average Health Outcomes
Although Michigan is home to some great hospitals, it ranks 39th in the country in health outcomes. Its public health system isn’t well funded, and there’s considerable disparity between outcomes for people of different races and socioeconomic statuses.
This is a challenge for those attempting to retire on a tight budget. You may struggle to get the care you need in Michigan at an affordable price, given its limited public health system.
Summer Humidity and Bugs
Winters in Michigan can be tough, but summers bring their own challenges. The state is the fourth most humid in the United States. All that water vapor in the air can make you want to stay inside even when the sun is shining.
If you get lucky with a day of minimal humidity, you’ll still have summer pests to deal with, including mosquitos, midge flies and ticks. These exacerbate the impact of Michigan’s often uncomfortable summer weather.
Older adults already dealing with aches and pains may find themselves wanting to stay inside throughout much of the summer because of these issues. At least spring and fall in Michigan are among some of the most beautiful seasons anywhere in the country.
Poor Road Infrastructure
Michigan’s roads are among the worst in the nation. They earned a “D” grade from the American Society of Civil Engineers. An official Michigan Transportation Council analysis found that 45% of local roads and 33% of state roads are in poor condition.
State employees work hard to keep roads safe, but there’s only so much they can do. Michigan salts its roads to remove dangerous snow during winter months, but this damages asphalt and leaves repair crews scrambling to keep up.
The downside isn’t just that the roads are difficult and potentially unsafe. You also have to deal with a lot of road construction projects while driving — especially in the summer months. The resulting street closures and traffic can start to feel like a constant annoyance.
Limited Sunshine
Sunlight doesn’t just make it nice to be outside, it’s also great for your health. Experts say if you don’t get enough sunlight, your serotonin levels can dip, increasing the risk of seasonal depression.
Michigan is the 14th least sunny state in the country. It averages fewer hours of sun per year than Wisconsin, Ohio and Idaho, just to name a few. That may have an impact on your mental health in retirement — especially if you’re not from Michigan originally.
People Are Leaving the State
Staying close to friends and family is one reason to look past Michigan’s flaws and still retire in the state. But even if Michigan fits that criteria for you today, it might not soon.
Studies show that Michigan consistently loses more residents annually than it gains. The majority of people who leave the state do so to pursue a better job. Young people are leading the trend, as the state lost 2,858 more Gen Z adults than it gained in 2022, the latest year data is available.
That may be concerning if you’re considering retiring in Michigan primarily to stay close to the people you care about. Would you still be happy in the state if those people decided to move elsewhere? If not, you may want to reconsider.
Should You Retire in Michigan?
There’s a lot to love about Michigan. It’s full of friendly people, home to storied sports franchises and has miles of beautiful coastline thanks to the Great Lakes. But that doesn’t necessarily mean it’s the right place for you to retire.
Michigan has poor weather, an ongoing population exodus and can be more expensive to live in than you think. All of these factors mean it’s at least worth considering if another state could be a better fit for your retirement.
More From GOBankingRates
This article originally appeared on GOBankingRates.com: 8 Reasons You Don’t Want To Retire in Michigan
