The top 10 states to avoid retiring in the U.S.—California and New York aren't the worst.

The smallest state in the U.S. is also the best state to retire in, while the largest state is the worst.

For the third year in a row, Alaska has been ranked as the worst state in the U.S. to retire, according to Bankrate's study of the best states to retire in 2024.

Alaska, the largest U.S. state by land area, ranked poorly across Bankrate's measurements in terms of space for retirement.

Bankrate ranked the best and worst places to retire in the U.S. by evaluating five weighted categories across all 50 states.

• Analyzing factors such as local and state sales taxes, cost of living, and average annual property taxes, affordability (40%) is determined.
• The overall wellbeing of a community is determined by factors such as the number of elderly adults per 100,000 residents and access to food and healthcare.
• The performance of each state's health system and the cost of health care at the state level are examined by the quality and cost of health care (20%).
• The weather (10%) assesses information about a state's average annual temperature, average number of tornado strikes, earthquakes, and hurricane landfalls.
• Examines the percentage of crimes, including property and violent crimes, per 100,000 residents.

The Council for Community and Economic Research, the U.S. Census Bureau, the Tax Foundation, and the National Oceanic and Atmospheric Administration were among the sources analyzed by Bankrate.

Here are the 10 worst states to retire, according to Bankrate.

Despite temperatures in Alaska ranging from 45 to 75 degrees Fahrenheit in the summer and dropping to negative 10 degrees in the winter, the state ranks last in the weather category.

Living in Alaska can be costly, particularly for retirees on a fixed income. On average, the cost of living in Alaska is 30% higher than the rest of the country, as per RentCafe. Housing costs are 17% higher than the national average, while utilities and health-care expenses are both nearly 50% higher.

Alaska is a tax-friendly location for retirees as it doesn't impose income tax, estate taxes, inheritance taxes, pension payments, or retirement benefits from Social Security.

Financial wellness leads to happiness, wealth, and financial security.

The lack of affordability seems to be a common characteristic among the low-ranking states on the list, including New York, Washington, and California, which are all known for being relatively expensive.

While a state with a higher cost of living may not be the ideal retirement destination, it doesn't mean it should be completely disregarded. Instead, you may need to allocate more funds for retirement savings to compensate for the higher expenses.

CNBC's retirement calculator can assist you in estimating the amount you need to save for retirement based on factors such as your current age, savings, income, and desired retirement date.

While financial factors can influence your retirement destination, it's also essential to consider non-financial aspects, such as access to social and community-building activities, as highlighted by Bankrate.

According to Kerry Hannon, a retirement expert and author of "In Control at 50+: How to Succeed in the New World of Work," having a sense of community and human connection is crucial for healthy aging, as stated in Bankrate's study.

She advises against isolation and loneliness, suggesting instead that one should seek out community.

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