Inside Forbes
The 25 Best Places To Retire In 2019
Even for the we’ll-do-it-our-way Baby Boom generation, retirement usually involves two big life changes: less income and more freedom (to live where you want and do what you please). That’s why so many folks at least consider moving in retirement, even if they ultimately end up staying put. And it’s also why Forbes’ list of The Best Places To Retire in 2019 focuses on places that offer both affordability and a high quality of life.
Our new roster, our ninth annual such list, contains 25 places in 17 states across all four continental time zones. These communities vary dramatically by size, climate and culture. Yes, the majority are in warmer climates---in line with actual retirement migration trends. (Five of our picks are in Florida, and two each in Arizona, Georgia, North Carolina and Texas.) But we also identify attractive possibilities in colder locales, such as Minnesota, North Dakota and Pennsylvania.
There are any number of reasons why a place drops off or is added to our best list. Some of the biggest factors are economic. These include median home prices, cost of living compared with the national average, and state tax issues, including whether a state imposes income taxes on Social Security, whether it offers special breaks for other retirement incomes and whether it imposes an estate or inheritance tax. Cost of living alone tends to exclude most of the Northeast and the West Coast, although we look favorably on Pittsburgh, Pa. (a perennial favorite, despite its higher than average crime) and Wenatchee, Wash. (If you want to stay in your home state, and don’t see any options on our list, take a look at our selection of The Best Places To Retire In Each State, which offers a best and a runner-up for each of the 50, Alaska and Hawaii included.)
Housing prices come from a number of sources, including zillow.com, trulia.com, realtor.com and the quarterly reports of the National Association of Realtors. The Realtors figure the national median home price is $249,500. Consistent with our focus on affordability, all but three of our 25 have median home prices below that level, and none is above $300,000. The most inexpensive are Savannah, Ga., $135,000; Pittsburgh, $151,000; and Bella Vista, Ark., $171,000. Most expensive are Wenatchee, $297,000; Boise, Idaho, $291,000; and Sarasota, Fla., $261,000.
Cost of living is figured as an index, with 100 being the national average by definition. Our data comes from the U.S. Bureau of Labor Statistics and bestplaces.net. We look for places with indexes no higher than 110. On this list, 12 are below 100, meaning they are cheaper places to live than the national average. The cheapest is Savannah (88), followed by Athens (93) and Pittsburgh (94). The most expensive is Delray Beach (110), followed by Sarasota, Fla. (109) and Winchester (108).
Many retirees work part-time, especially in their initial years. So we factor in current and future economic prospects for each area, drawing on data from the federal government and the Milken Institute’s latest edition of “Best Performing Cities.” A strong economy down the road is often a good thing for property values if a retiree wants to sell a residence and relocate again. (Don't dismiss the possibility of a second move. After all, an American who retires at 65 will, on average, live more than 20 years in retirement.)
State tax issues can be of great concern to retirees. We look at several, including whether a state imposes its income tax on Social Security income (most don’t) and whether a state provides additional tax breaks for other pension income (that’s more variable). Eight of the 25 places on our 2019 list are in states without a state income tax. They are Clearwater, Delray Beach, Jacksonville, Fla.; Palm Bay, Fla.; San Antonio, Tex.; San Marcos, Tex.; Sarasota and Wenatchee. But it should be noted that states without income taxes often make up for that with higher sales and real estate taxes, both of which can hit seniors hard.
In addition to economic factors, we review a host of livability measures, include rates of violent crime (murder, rape, robbery and aggravated assault) for individual jurisdictions as compiled by the Federal Bureau of Investigation, ruling out places with rates that are multiples above the national average. Since health care is so important to retirees, we look at the ratio of primary-care physicians per capita data compiled at countyhealthrankings.org, striking those that have way too few doctors. Although not dispositive, we also consider the latest Milken Institute report on “Best Cities for Successful Aging.” The study, which is periodically updated, ranks 381 metro areas on a variety of wellness, health care and transportation measures, and thus captures some factors our primary analysis might miss. We also take into account air quality data compiled by the U.S. Environmental Protection Agency.
Because staying active in retirement is so important to both happiness and health, we’ve made it a part of our search for the best retirement places. We canvassed data at walkscore.com, which measures walkability--how easy it is in a given place to shop and get around on foot. On our list, best scores went to Pittsburgh, Sarasota and Winchester. Walkscore and other sources also measure bikeability—doing the same things using a bicycle, often with the help of dedicated bike lanes. Best ratings went to Iowa City, Boise and Sarasota.
A decision to relocate upon retirement, of course, is a uniquely personal call, often strongly influenced by the location of children, other family and longtime friends. This list doesn’t quantify intangibles like culture and scenery. (Culture mavens should consult our list of the best places to pursue a passion in retirement.) But seven places on the list are what could be considered college towns, which often provide a richer lifestyle and even cut-rate educational opportunities for retirees. These are: Athens (University of Georgia); Columbia, Mo. (University of Missouri, Stephens College, Columbia College); Iowa City (University of Iowa); Lawrence (University of Kansas); Lexington, Ky. (University of Kentucky, Transylvania University), Pittsburgh (University of Pittsburgh, Carnegie Mellon University, Duquesne University, Chatham University) and San Marcos (Texas State University).
If scenery is your thing, many of the 25 have inviting water, mountain or desert vistas. They include Bella Vista, Boise, Brevard, Clearwater, Delray Beach, Green Valley, Jacksonville, Palm Bay, Pittsburgh, San Marcos, Sarasota and Wenatchee.
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This year, to identify our top 25, we examined nearly 700 places, in all 50 states, as well as the District of Columbia. We only consider places with populations above 10,000 unless they are part of a more populous region, as is the case with Brevard, N.C., population 8,000 but near far-bigger and pricier Asheville.
Just under half of our 2019 picks were also on last year’s list. Others have been on earlier lists, or on Forbes’ specialty retirement lists---for example, the best places to retire without a car or the best places to pursue a passion (be it outdoor water activities, dining out or golf) in retirement. Newcomers or those returning after a significant gap include Charlotte, N.C., Clearwater, Fla., Delray Beach, Fla., San Antonio, Tex., and Winchester.
51,148 viewsApr 23, 2019, 09:45am
The 25 Best Places To Retire In 2019
The List
Inside Forbes
The List
The 25 Best Places To Retire In 2019
Even for the we’ll-do-it-our-way Baby Boom generation, retirement usually involves two big life changes: less income and more freedom (to live where you want and do what you please). That’s why so many folks at least consider moving in retirement, even if they ultimately end up staying put. And it’s also why Forbes’ list of The Best Places To Retire in 2019 focuses on places that offer both affordability and a high quality of life.
Our new roster, our ninth annual such list, contains 25 places in 17 states across all four continental time zones. These communities vary dramatically by size, climate and culture. Yes, the majority are in warmer climates---in line with actual retirement migration trends. (Five of our picks are in Florida, and two each in Arizona, Georgia, North Carolina and Texas.) But we also identify attractive possibilities in colder locales, such as Minnesota, North Dakota and Pennsylvania.
To see the complete list, click on the nearby picture above or go here. The list is in alphabetical order. Thus, every entry is in a tie for No. 1. and Athens, Ga., is as meritorious in our view as Winchester, Va.
What these 25 varied places have in common is that they offer excellent retirement value for the buck in the continental U.S. (If you’re looking for something more exotic, consider our recent list of the Best Places To Retire Abroad.)
There are any number of reasons why a place drops off or is added to our best list. Some of the biggest factors are economic. These include median home prices, cost of living compared with the national average, and state tax issues, including whether a state imposes income taxes on Social Security, whether it offers special breaks for other retirement incomes and whether it imposes an estate or inheritance tax. Cost of living alone tends to exclude most of the Northeast and the West Coast, although we look favorably on Pittsburgh, Pa. (a perennial favorite, despite its higher than average crime) and Wenatchee, Wash. (If you want to stay in your home state, and don’t see any options on our list, take a look at our selection of The Best Places To Retire In Each State, which offers a best and a runner-up for each of the 50, Alaska and Hawaii included.)
Housing prices come from a number of sources, including zillow.com, trulia.com, realtor.com and the quarterly reports of the National Association of Realtors. The Realtors figure the national median home price is $249,500. Consistent with our focus on affordability, all but three of our 25 have median home prices below that level, and none is above $300,000. The most inexpensive are Savannah, Ga., $135,000; Pittsburgh, $151,000; and Bella Vista, Ark., $171,000. Most expensive are Wenatchee, $297,000; Boise, Idaho, $291,000; and Sarasota, Fla., $261,000.
Cost of living is figured as an index, with 100 being the national average by definition. Our data comes from the U.S. Bureau of Labor Statistics and bestplaces.net. We look for places with indexes no higher than 110. On this list, 12 are below 100, meaning they are cheaper places to live than the national average. The cheapest is Savannah (88), followed by Athens (93) and Pittsburgh (94). The most expensive is Delray Beach (110), followed by Sarasota, Fla. (109) and Winchester (108).
Many retirees work part-time, especially in their initial years. So we factor in current and future economic prospects for each area, drawing on data from the federal government and the Milken Institute’s latest edition of “Best Performing Cities.” A strong economy down the road is often a good thing for property values if a retiree wants to sell a residence and relocate again. (Don't dismiss the possibility of a second move. After all, an American who retires at 65 will, on average, live more than 20 years in retirement.)
State tax issues can be of great concern to retirees. We look at several, including whether a state imposes its income tax on Social Security income (most don’t) and whether a state provides additional tax breaks for other pension income (that’s more variable). Eight of the 25 places on our 2019 list are in states without a state income tax. They are Clearwater, Delray Beach, Jacksonville, Fla.; Palm Bay, Fla.; San Antonio, Tex.; San Marcos, Tex.; Sarasota and Wenatchee. But it should be noted that states without income taxes often make up for that with higher sales and real estate taxes, both of which can hit seniors hard.
In addition to economic factors, we review a host of livability measures, include rates of violent crime (murder, rape, robbery and aggravated assault) for individual jurisdictions as compiled by the Federal Bureau of Investigation, ruling out places with rates that are multiples above the national average. Since health care is so important to retirees, we look at the ratio of primary-care physicians per capita data compiled at countyhealthrankings.org, striking those that have way too few doctors. Although not dispositive, we also consider the latest Milken Institute report on “Best Cities for Successful Aging.” The study, which is periodically updated, ranks 381 metro areas on a variety of wellness, health care and transportation measures, and thus captures some factors our primary analysis might miss. We also take into account air quality data compiled by the U.S. Environmental Protection Agency.
Because staying active in retirement is so important to both happiness and health, we’ve made it a part of our search for the best retirement places. We canvassed data at walkscore.com, which measures walkability--how easy it is in a given place to shop and get around on foot. On our list, best scores went to Pittsburgh, Sarasota and Winchester. Walkscore and other sources also measure bikeability—doing the same things using a bicycle, often with the help of dedicated bike lanes. Best ratings went to Iowa City, Boise and Sarasota.
A decision to relocate upon retirement, of course, is a uniquely personal call, often strongly influenced by the location of children, other family and longtime friends. This list doesn’t quantify intangibles like culture and scenery. (Culture mavens should consult our list of the best places to pursue a passion in retirement.) But seven places on the list are what could be considered college towns, which often provide a richer lifestyle and even cut-rate educational opportunities for retirees. These are: Athens (University of Georgia); Columbia, Mo. (University of Missouri, Stephens College, Columbia College); Iowa City (University of Iowa); Lawrence (University of Kansas); Lexington, Ky. (University of Kentucky, Transylvania University), Pittsburgh (University of Pittsburgh, Carnegie Mellon University, Duquesne University, Chatham University) and San Marcos (Texas State University).
If scenery is your thing, many of the 25 have inviting water, mountain or desert vistas. They include Bella Vista, Boise, Brevard, Clearwater, Delray Beach, Green Valley, Jacksonville, Palm Bay, Pittsburgh, San Marcos, Sarasota and Wenatchee.
YOU MAY ALSO LIKE
This year, to identify our top 25, we examined nearly 700 places, in all 50 states, as well as the District of Columbia. We only consider places with populations above 10,000 unless they are part of a more populous region, as is the case with Brevard, N.C., population 8,000 but near far-bigger and pricier Asheville.
Just under half of our 2019 picks were also on last year’s list. Others have been on earlier lists, or on Forbes’ specialty retirement lists---for example, the best places to retire without a car or the best places to pursue a passion (be it outdoor water activities, dining out or golf) in retirement. Newcomers or those returning after a significant gap include Charlotte, N.C., Clearwater, Fla., Delray Beach, Fla., San Antonio, Tex., and Winchester.
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