10 Affordable Cities for Retirement - AARP

These places are a bargain for retirees — and you can't beat the lifestyle

Sept/Oct 2011 Issue: http://www.aarp.org
 

If money didn't matter, there'd be plenty of fabulous places to spend your retirement: a penthouse in Paris. An all-glass modern on the beach in Malibu. Perhaps a small winery in Napa Valley.

But money does matter. Even as the financial markets limp out of their recessionary funk, many of us are redefining what our "dream" retirement might look like.

Sure, Honolulu has beaches and well-priced pineapples, but few of us can afford its median home price of $550,000. Chicago has world-class dining and lake views galore, though its 9.75 percent sales tax can put those amenities out of reach. Then again, not many of us want to move to a one-stoplight town either, even if it is cheap.

We started our search for the perfect retirement destinations by examining financial data on more than 350 cities across the country. We looked at not only property- and sales-tax rates, median housing price, and cost of living but also the tax rate on pensions and Social Security. Then we added in such criteria as recreation, climate, and arts and culture.

Harrisburg, Pennsylvania

With its gracious layout, the lovely Susquehanna River, and plentiful festivals and events, Harrisburg is a magnet for cyclists and pedestrians.

Harrisburg's 50,000 shade trees, 4.5-mile-long Riverfront Park and 20-mile greenbelt around the city showcase its modern skyline, lovely old cathedrals, elegant Capitol complex and well-maintained historic districts.

The surrounding Pennsylvania Dutch countryside, with its covered bridges, farms, restored mansions and rich Civil War history, is equally inviting.

Six four-year colleges in the area add musical events, drama — and youthful energy.