Best Inexpensive Places To Retire

By | April 16, 2023
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Best Inexpensive Places To Retire – As you approach retirement, you may be considering moving to a city with warmer winters or more affordable housing to increase your retirement income. Perhaps you’ve dreamed of living in a beautiful region, such as a seaside town or a town near a mountain region with lots of natural areas.

If so, you’re not the only dreamer in your generation. American baby boomers moved more than any other demographic in 2019, according to United Van Lines’ 43rd annual National Movers Study, which tracks the state-by-state moving patterns of the company’s immigrant customers. People between the ages of 55 and 74 make up nearly half of United Van Lines’ interstate customers.

Best Inexpensive Places To Retire

Best Inexpensive Places To Retire

Before you move to your dream location, it’s a good idea to learn as much as you can about the city’s housing market and cost of living. That’s why The Hartford Extra Mile has put together this list of affordable places to retire in the United States.

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You’ll find a little bit of everything on our list, from cheap cities in expensive regions to Midwestern cities where you can buy a luxury home for less. We cover cities you might not have heard of, along with some familiar faces from our list of affordable cities.

“Affordable” doesn’t mean the same thing to everyone, of course, so we take that into account. Some cities are affordable because the region they are located in is very expensive. Others have kept their cost of living low despite many desirable features.

Extra Mile analyzed Q4 2019 cost-of-living data for 266 urban areas surveyed by The Council for Community and Economic Research, which collects data on housing, utilities, health care, grocery stores and other products, and customer service in participating cities. Calculate the overall cost of living score, which is then published in its Cost of Living Index (COLI).

Average home prices listed on COLI are based on a four bedroom, 2,400 square meter home. For cities not indexed in COLI, we used home prices (rather than averages) listed on Realtor.com, a national source of real-estate listings. For context, note that the national median sales price for homes sold in the last quarter of 2019 was $382,000, according to the Federal Reserve Bank of St. Lewis.

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Spokane, a mid-sized city in eastern Washington, located 20 miles west of Idaho, has significantly lower home prices than Seattle, where the median home price is $814,000. Spokane’s cost of living is close to the national average, while Washington is one of a handful of states with no state income tax.

The Spokane River flows through downtown Spokane, which receives about 48 inches of snow in the winter but only 16 inches of annual precipitation, allowing plenty of sunny days for Spokane’s Finch Arboretum, Riverside State Park, golf courses, hiking trails, and other recreation. activity

Best Inexpensive Places To Retire

A state known for its natural beauty, mountains and some of the best trout fishing in the United States, you’ll find smaller, more affordable towns in Idaho. If you enjoy the dining, culture, and entertainment options of a big city, Boise, where the cost of living is 2% below the national average, can be a great retirement destination.

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Boise offers plenty of recreation, including the Boise Greenbelt, 850 acres of parks and 25 miles of nature walks and bike rides along the Boise River. Boise scored in the first half of the Gallup-ShareCare State of American Well-Being Index, scoring high on sense of safety, life satisfaction and community pride.

Oregon is an expensive state to live in, especially in cities like Portland, where the median home price is around $460,000, according to Realtor.com. If you’re looking for an affordable place to explore forests, waterways, wildlife, and lighthouse-dotted beaches, Salem, located in northwest Oregon, has relatively affordable housing rates compared to other cities in the state.

Retiring in Salem puts you approximately 100 miles from Oregon’s coastal towns and 50 miles south of Portland’s big city amenities and quality healthcare options. Oregon does not tax Social Security benefits, and the state also offers a deferred estate tax program to qualified residents age 62 and older.

Colorado’s majestic mountains, rivers, lakes, and streams against vast blue skies attract many retirees. While Denver, where the median home price is $515,000, may be out of reach, Colorado Springs’ cost of living is around the national average.

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Colorado Springs, located 70 miles south of Denver, has 1,200 acres of parks, trails and natural-beauty spots and ranks well on the Gallup-Sharecare Well-being Index when it comes to community satisfaction and health. Recreational activities abound in the surrounding parks and mountains and include the ability to explore the red-rock formations of the Garden of the Gods or hike nearby Pike Peak.

You can enjoy warm winters and sunny days in Tucson, where the overall cost of living is 3% below the national average. You’re also a fun road trip from Sedona, Flagstaff, and the Grand Canyon for cool weather in Tucson’s hot summers. Want to vacation in California? Take a plane and you’ll be there in 45 minutes.

Smaller, less crowded, and with better air quality than Phoenix, Tucson offers a variety of southwestern culture, museums, and dining options. In the city, you can enjoy folk and jazz festivals, symphonies, ballet, many entertainment venues, museums and many outdoor recreational activities.

Best Inexpensive Places To Retire

San Antonio offers many ways to increase your retirement income. Not only is the city’s overall cost of living 11% below the national average, but Texas residents pay no income tax and the state does not tax retirees’ Social Security income.

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San Antonio offers many health care options, parks and recreation opportunities, and arts and culture venues. You can also explore the city by walking the beautiful 15-mile Paseo del Rio River Walk. San Antonio ranks high on the Gallup-Sharecare Well-Being Index for residents’ sense of purpose and community pride.

El Paso, located in southwest Texas near the Mexican border, ranked 15th out of 186 cities on the Gallup-ShareCare Well-Being Index. In particular, the city scores highly for sense of purpose, love and relationships, community satisfaction and good health.

El Paso offers abundant sunny days, mild winters, and housing costs below the national average. In El Paso, you’ll find concerts, plays, music and dance festivals, and plenty of authentic Mexican food.

The cost of living in Albuquerque is 12% below the national average. This high desert climate in central New Mexico is perfect for those who hate monsoons. Albuquerque’s cultural offerings include museums, a vibrant performing-arts community, the National Hispanic Cultural Center, and the New Mexico Philharmonic.

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Bordered by the Sandia Mountains to the east, Albuquerque offers many outdoor and recreational activities. You can also enjoy balloon-filled October skies every year when Albuquerque hosts the International Balloon Fiesta, a huge gathering of hot air balloons.

You’ll find many art museums, galleries, concert venues, and affordable neighborhoods in this South-Midwestern hybrid, where the cost of living is 6% below the national average. Bon App├ętit magazine recognized Louisville as one of the “Best Food” small towns in America, launching the city’s vibrant dining scene.

You can enjoy all four seasons in Louisville, from hot summers to cold, snowy winters. Louisville offers more than 100 public parks and outdoor music festivals, including Abbey Road on the River, the world’s largest Beatles tribute, and the 60s Music Festival, which takes place in nearby Jeffersonville, Indiana.

Best Inexpensive Places To Retire

If you’re looking to increase your retirement income, a move to Fort Wayne may do the trick. You’ll find a slow Midwestern pace, a small-town feel, friendly people and less traffic.

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You can also get more homes for the purchase price in Fort Wayne than in other cities. Home prices are about 40% below the national average and the overall cost of living is 14% below the national average.

You’ll find affordable, older homes, concert venues, sports facilities and over 100 parks on Kansas City’s tree-lined streets. Kansas City, where the cost of living is 4% below the national average, hosts the nation’s largest holiday-light display in the popular Country Club Plaza shopping district.

Winters are usually cold and snowy, with occasional mild weather, however, the city’s international airport is easy to navigate for winter vacations. In addition, two metro-area hospitals, the University of Kansas and St. Luke from Kansas City, US. Consistently ranked among the best hospitals. News and world reports.

Harrisonburg, known as “The Friendly City”, is located in the beautiful Shenandoah Valley, 30 minutes from the Blue Ridge Mountains to the east and the Allegheny Mountains to the west.

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Located 130 miles west of Washington, D.C., Harrisonburg has a vibrant downtown with farmers markets, museums and events, and is close to Civil War historic sites. Harrisonburg is also very walkable

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