Although it might take some getting used to the winters there, you’ll feel pretty warm when you have to spend a little less than $3,500 a year on groceries, and you can attend four world-class arts and crafts fairs throughout the year. The small town's biggest claim to fame is that it's home to Whirlpool (WHR), the global manufacturer of washers, dryers, refrigerators and a range of other home appliances. Consider: If You Planned To Retire in the Next 5 Years, Should You Just Do It Now? In Ocean City, the cost of living for all residents is a whopping 62.2% above the national average, according to Sperling's BestPlaces. Still, the poverty rate for residents 65 and older is lower at 7.8% in Mankato, compared with 12.6% in Minneapolis and 9.3% in the whole U.S. West Virginia University offers a number of benefits to older Morgantown residents. *Data for the Hartford metropolitan statistical area, which includes Middletown. Florida’s largest city, population 904,000, on the Atlantic Ocean. For example, a visit to a doctor costs about a third less in Statesboro. True, median income is far below the U.S. level, and the unemployment rate is higher than the national rate. Nearby, enjoy musical performances at the Tanglewood Music Center, the summer home of the Boston Symphony Orchestra. If you will be living only on your Social Security when you retire, the annual housing expenditure of around $12,800 and low grocery and utility expenditures of about $3,500 each make Roanoke, Virginia, an attractive place to live. Hunting and fishing are also popular local activities. Some goals of the plan include adding housing, specifically within walking distance of where jobs and shops are; expanding Riverfront Park and other recreational land; and possibly building a pedestrian bridge that crosses the Minnesota River to North Mankato. And water-loving retirees still have access to the same torrent of activities, such as kayaking, canoeing, boating and fishing, common on the Chesapeake Bay. The cost of living for all residents in Easton are 13.8% above the national average, according to Sperling's BestPlaces, which makes it at least more affordable than Annapolis, on the opposite shore of the bay, where living costs are 41% above the national average. How To Protect Your Retirement Savings During the Coronavirus Scare, 15 US Cities You Should Really Consider for Retirement, 21 Hacks To Reduce Your Healthcare Costs This Year, The Downsides of Retirement That Nobody Talks About, 25 Ways To Save 20% More of Your Paycheck Without Even Trying. The town also boasts six museums and the Oklahoma Music Hall of Fame. Happily, the men and women in uniform, and Meridian's civilian citizens, catch a break on expenses. Meridian was rebuilt from 1890 to 1930 after being almost totally destroyed in the Civil War. Outdoor recreation is plentiful with miles of hiking and biking paths, nearby beaches where you can swim, kayak or paddleboard in the warmer months, and numerous skiing options in the area. Another city that attracts a large number of retirees, Murfreesboro will cost you about $20,670 in housing per year, a mere $3,400 for groceries annually and around $3,500 for your utilities each year. One thing you already know from the figures: It’s definitely affordable — annual grocery bills come to about $3,500 and utilities typically add up to approximately the same. Enter GOBankingRates, which has trimmed the list to a manageable 30 small towns that are the best places to retire. … Located on the Gulf of Mexico, you’ll be heaven if you’re a water fan: The city has more than 400 miles of canals and navigable waterways. Jim Thorpe – All-American, the 1951 film starring Burt Lancaster, was shot on the campus of what was then known as the Bacone Indian University in Muskogee. True, median incomes are $16,096 less than the national average, but then, the median home price is cheaper by almost $140,000. Taxes and living costs are high. Music remains a centerpiece of Meridian's cultural scene to this day. And if you do want to visit the more popular Delaware beaches, it takes about 40 minutes to drive to Rehoboth or Dewey and another 10 to 20 minutes to Bethany. Here are several home features potential buyers are coveting right now. You’ll also be near a beautiful stretch of beach and be right between Miami and Ft. Lauderdale. The deadline for seniors and veterans to request an additional $500 stimulus check for a dependent child is coming up quickly. Located about 14 miles southeast of Houston, Pasadena, Texas, is another one of the best places to retire in the U.S. To pinpoint one great retirement destination in each state, we weighed a number of factors: Social Security Recipients, Veterans Must Act Soon to Get Extra $500 Stimulus Check, The Kiplinger Washington Editors, Inc., is part of the Dennis Publishing Ltd. Group.All Contents © 2020, The Kiplinger Washington Editors, With taxes likely to rise in the coming decades, the normal methods of providing a financial legacy for our family could be heavily taxed. Whether you prefer a location for its affordable housing or for its weather, you’ll most likely find a great place to retire on this list of small towns. Like us on Facebook to see similar stories, ‘Catastrophic’ lack of hospital beds in Midwest, Rain and dam discharge cause flooding in southern Mexico. Maryland is, by and large, a wealthy area, home to a great number of millionaires, and the living costs reflect that. City population: 20,280. To determine this list, we estimated the annual retirement income needed to afford housing, health costs, food, transportation and other living expenses in 60 cities outside the 150 largest U.S. cities. It's home to four institutions of higher learning, as well as the Oklahoma School for the Blind. Before you embark on a shopping spree in any of the 10 worst states for sales taxes, make extra room in your budget. Spend your golden years in Tyler, Texas, and you’ll be among many other retirees, considering its percentage of seniors is 15.20. Qualifying developers and organizations will get a property tax abatement for artistic-related improvements to their buildings, and local artists can score a state income tax deduction for all art created and sold within the 110-acre district. Tupelo's biggest claim to fame is being the birthplace of Elvis Presley. And the Granite State's tax situation for retirees is solid, too. Still, unemployment comes in above-average, and the poverty rate is high. In August 2017, Charlottesville captured national attention when a gathering of white nationalists to protest the removal of a monument to Robert E. Lee turned into a violent rally, injuring dozens of counter-protesters and killing one, Heather Heyer. Today, top employers include Great River Health System and American Ordnance, which makes ammunition for the U.S. military. Data is accurate as of April 15, 2019, and is subject to change. We also made sure each city had a relatively higher percentage of seniors and a lower crime rate. The biggest break comes from housing-related expenses, which are almost 40% lower than the national average, according to the Cost of Living Index. Plus, you have to budget extra for insurance to protect against possible storm and flood damage. By comparison, the cost of living in popular Bethany Beach, about 40 miles south of Milford and right on the coast, is a whopping 83.2% above the national average. If you enjoy coastal living, Newport News could be one of the best small towns to retire in for you. Don't overlook the big benefits of retiring to a small town. Methodology: GOBankingRates found the 30 Best small towns to retire in America by analyzing 60 cities outside the 150 largest U.S. cities across the following factors: (1) annual retirement income needed to cover basic costs for retirees, annual amount needed for housing, annual amount needed for health costs, annual amount needed for food, annual amount needed for transportation, annual amount needed for utilities, and annual amount needed for transportation, with all cost indexes sourced from Sperling’s Best and then multiplied by the Bureau of Labor Statistic’s annual expenditure data set for people 65 years and older for each spending category to determine a yearly expenditure amount for all of the listed factors; (2) the number of seniors 65 and older, sourced from Census Bureau Quickfacts population estimates from July 2018; (3) city safety data sourced from Neighborhood Scout showing the amount of violent and property crimes per 1,000 residents in the given city; (4) livability scores from AreaVibes, covering amenities within the given city, cost of living, crime rates, education, employment, housing costs, and weather.
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