Yahoo Finance Retirees Say They’ll Have To Move: Here Are 6 Affordable Cities
Looking forward to retiring? There’s a lot on the horizon that’s sure to be positive, but one negative part of hanging up your work shoes and putting on your retirement slippers is the fact that you might have to move from your current location.
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Based on a GOBankingRates survey, 37.5% of people between the ages of 55 and 64 — in other words, those about to hit retirement — believed they would eventually have to move somewhere else in order to live comfortably on a fixed income. About 29% of those surveyed who were older than 65 — retired or not — believed they would have to move in the future to meet their cost-of-living needs.
So, if around a third of people say they’ll have to move after retirement, where should they head off to? Here are six affordable cities they might want to consider.
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Greenville, South Carolina
According to Zillow, the median home price in Greenville is $312,000, which is pretty great if you are a retiree looking to buy a home.
“Greenville is a great place, especially downtown,” said Alex Evans, the owner of Southeast Travel Guides, noting that the central metro area has lots of cafes and restaurants that open up to Falls Park.
“From there, you can enjoy the Swamp Rabbit Trail, a 28-mile walk and bike-only trail,” Evans added. “The parks and Swamp Rabbit, along with the dog parks downtown, all mean you have a very easy time taking your dog out too.”
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Foley, Alabama
Nicholas McMillan, founder and owner of Hire Realty LLC, found that Alabama attracts an older American demographic, reporting that 18% of the state’s population is 65 or older.
“Foley takes the crown for being one of the best places to retire in Alabama,” McMillan explained, citing “the affordable healthcare at South Baldwin Regional Medical Center and inexpensive outdoor activity options at Graham Creek Nature Preserve, Antique Rose Trail and OWA amusement.”
Gulfport, Mississippi
From McMillan’s professional experience, retirees do not have to pack themselves into a cramped condo if they decide to retire in Gulfport. That is due to the fact that housing costs are about 34% lower than the national average.
“These old folks can save even more as the state of Mississippi doesn’t levy taxes on 401(k)s and IRAs, along with the 18% lower living cost than the U.S. average,” McMillan said.
New Orleans
One place that’s fun and festive, with a rich sense of culture and a great community of retirees, is The Big Easy.
“Not every boomer wants the Florida or Arizona planned community experience,” said Christopher Falvey, one of the co-founders of Unique NOLA Tours.
“We have the year-round warm weather checked. But beyond that we have such a deep, historic culture that is welcoming to people of all ages. In fact, we’re one of the most welcoming cities in the U.S., and that includes people of baby-boomer retirement age.”
Gilbert, Arizona
Another excellent retirement destination is in Arizona, but it is not Phoenix nor Tucson. Instead, it is Gilbert, a city with a high livability score and low crime rate so that retirees can feel safe among a vibrant community of seniors.
“Households would save only around 68.99% of the amount necessary for a comfortable retirement,” said Ron Wysocarski of Wyse Home Team Realty, who highlighted that residents of Gilbert tend to bring in a median household income of $111,393.
“There are many amenities geared towards older adults,” he said, “which makes living costs manageable. It also provides excellent healthcare facilities so retirees can receive quality healthcare.”
Beatrice, Nebraska
“Beatrice stands out as one of the most affordable places to retire,” said Wysocarski, who pointed to the fact that the annual cost of living is about $56,403 in Beatrice, which has a high livability score and relatively low crime rates.
“This small town offers a peaceful retirement environment with a strong sense of community,” Wysocarski said. “For retirees looking to stretch their budgets without sacrificing quality of life, Beatrice is an ideal spot for cost-effective living conditions.”
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This article originally appeared on GOBankingRates.com: Retirees Say They’ll Have To Move: Here Are 6 Affordable Cities
