The Martin Prosperity Institute has identified the top five American cities for retirees. A number of factors went in to their rankings. The cost-of-living index, unemployment rate and median household income were a few of those factors. In arriving at the top five for this article, the number doctors per 100,000 people, crime rate and climate were also factored in.
5. Pittsburgh, PA
Pittsburgh is the nation’s safest big city as stated by Farmers Insurance. The median home price of $119,900 is close to $40,000 below the national average as indicated by Clear Capital. The unemployment rate is 6.6%. The number of doctors per 100,000 people is 196.
Pittsburgh experiences all four seasons. Winters are typical of those that occur in the northeast.
4. New York City, NY
New York may seem like a surprise, but it has a lot to offer retirees. There is no need to drive and you can have a smorgasbord of items delivered right to your door. The entertainment and restaurants are world-renowned. The unemployment rate is 8.8%. The number of doctors per 100,000 people is 247.
It is also home to 27 “naturally occurring retirement communities (NORCs).” These NORCs typically have social services programs to which you could avail yourself of should the need arise.
3. Palm Bay, FL
Palm Bay is in Brevard County. It is located midway between Miami and Jacksonville. It, of course, has beautiful beaches and lots of parks. Fishing is one of the more popular activities available, along with two golf courses. The unemployment rate is 9%. The number of doctors per 100,000 people is 158.
2. Corvallis, OR
Just an hour away from the Oregon coast, this small town has a lot to offer retirees. The Oregon State University is located in the heart of the town and offers a wealth of educational and cultural activities. The Willamette River has many scenic bike trails that follow it along. The unemployment rate is 5.7%. The number of doctors per 100,000 people is 129.
Retirees will be glad to hear that Oregon does not have a sales tax. However, due to demand on housing, single-family homes are on the pricey-side, running in the $250,000 range.
1. New Orleans, LA
It has been seven years since the last severe hurricane hit and New Orleans now enjoys a new infrastructure and a major boom in newly built and reconstructed homes. Property taxes are low, and healthcare is affordable. Social Security benefits are tax-free. Unemployment is 7.2%. The number of doctors per 100,000 people is 136.
The climate is mild; however, there is the chance of a hurricane. The French Quarter is famous for entertainment and dining.