Colorado ranks third in an analysis of the most improved states for retirees.

Colorado moved up 30 spots from 33rd to third in the analysis, which takes into account the span between 2019 and 2023.

“Over the last five years, we’ve witnessed a substantial shift in the retirement landscape across the United States,” said Barry Landry of Metal Resource, a website that offers information about precious metals and retirement funds.

“It’s not merely about where retirees are heading now. It’s about recognizing consistent improvement in factors that matter to retirees,” Landry said. “This data gives us a deeper understanding of retirement trends and showcases how states are striving to better accommodate our aging population.”

Metal Resources studied retirement rankings across a five year-span, including those conducted for Bankrate, CreditKarma, HuffPost and MoneyWise.

Colorado ranked the third most improved state in the Metal Resource analysis based on its scenic landscape outdoor recreation, and cultural offerings. In addition, investments in health care infrastructure have provided more access to medical facilities and services.

Virginia placed first among the most improved states for retirees, moving up 38 places from 39th place in 2019. Virginia was lauded for its health care services, comparatively affordable cost of living and lower state taxes. That includes a tax exemption on Social Security benefits.

Minnesota finished second, moving 32 spots from 40th to eighth. The state fared well for health care and entertainment as well as the third-longest life expectancy among the states behind only Hawaii and California.

Alaska ranked fourth, while Delaware rounded out the top five states.

Conversely, the least improved state for retirees was Kentucky, which dropped 44 places from sixth in 2019 to 50th. The drop was attributed in part to survey results that found only 66.9 percent of seniors reported their health as good or better while 10.3 percent reported poor mental health.