Find your ideal retirement spot.
The optimum retirement spot is not only about location. Some of the best places to retire offer not only the ability to improve one’s quality of life, but they often provide a way to save money, too. Finding a retirement location that boosts your budget as well as offers the opportunity to engage in some of your favorite hobbies is important to your overall happiness in your retirement years.
U.S. News conducted an analysis in which the 150 largest metropolitan areas in the United States were measured based on their potential as a retirement city. In order to correctly compare each city, U.S. News compiled data on happiness and desirability, budget concerns such as retiree taxes, housing affordability, and the job market, plus resident’s access to quality health care. Then, a weight has been assigned to each city based on a survey of individuals aged 45 and above; the online survey gathered data regarding retirement preferences in this age group.
Not surprisingly, many of the cities that scored top marks are located in Florida. Florida has always been a top retirement location due to its low taxes, affordable homes for retirees, and its high scores in the areas of happiness and desirability.
15. Myrtle Beach, South Carolina
Share of population age 60-plus: 34 percent
Median monthly mortgage: $1,290
Median monthly rent: $959
Myrtle Beach, South Carolina ranks as a popular tourist destination. The weather is typically pleasant, and this city offers over sixty miles of beaches along the shores of the Atlantic Ocean. The price of housing in Myrtle Beach is quite affordable, so retirees can enjoy the vacation lifestyle all year long. In fact, many retirees now call Myrtle Beach home – at least one-third of the population of Myrtle Beach is aged 60 or older. Myrtle Beach is also home to a wealth of golf courses, some designed by Jack Nicklaus and Arnold Palmer. Residents also enjoy fresh local seafood, and the Myrtle Street Boardwalk is a favorite destination for tourists and residents alike.