Virginia has once again been named the best state for military retirees according to a report released by WalletHub on Monday.
In its 2020 "Best & Worst States for Military Retirees" ranking, WalletHub compared the 50 states and the District of Columbia across 29 categories of retirement-friendliness toward veterans in order to help them plan for their years after service.
“As military personnel retire this year, they will find themselves dropped into another war - the one the U.S. is waging against the coronavirus," the report says. “Many of our military retirees will need emotional support as they transition back to civilian life in the midst of the pandemic, but may find opportunities for that support sharply cut back by social distancing.”
The data sets used by the personal-finance website for the rankings ranged from job opportunities for veterans to housing affordability to quality of VA hospitals.
According to the data, Virginia is the best place for military retirees to live in 2020. The commonwealth also had the same ranking in 2019, according to WalletHub.
Turns out Virginia isn’t only for lovers. It’s also one of the best places for military retirees
Following Virginia in the rankings were Florida, South Carolina, Maryland and New Hampshire.
The report also notes that unemployment and lockdowns as the result of the pandemic are also obstacles for military personnel looking to enter the civilian workforce.
“These veterans must also consider how state tax policies on military benefits vary, along with the relative friendliness of different job markets and other socioeconomic factors when choosing a state in which to settle down,” the report continues.
The bottom five states for military retirees are Hawaii, Oregon, Vermont, the District of Columbia and New York.
The report also found that Alaska has the highest share of veterans at, 9.21 percent, which is 2.2 times higher than in the District of Columbia, the lowest at 4.23 percent.
South Carolina has the highest share of veteran-owned businesses at, 12.38 percent, which is 2.2 times higher than in New York, the lowest at 5.66 percent.
The District of Columbia has the highest share of VA expenditures per number of veterans at $140,226, which is 21.5 times higher than in New Jersey, the lowest at $6,535.
Mississippi has the lowest share of homeless veterans, .04 percent, which is 25.5 times lower than in the District of Columbia, the highest at 1.02 percent.
View the full report and your state or the District’s rank here.