Though choosing a retirement location is a personal and subjective decision, affordability is top of mind for buyers, according to a report released Monday by 55places.com, a real estate platform for homebuyers 55 and older.
In 55places’ 2020 National Housing Survey, 43% of respondents said they expected the value of their next home to be slightly less or much less compared with the value of their current home.
“For the millions of Americans who depart the U.S. labor force each year, the image of what an ideal retirement is can differ,” George Kolar, the company’s regional sales manager, said in a statement.
“However, an inexpensive and comfortable way of living are top factors that are considered before entering this phase of life.”
To compile a ranking of the most affordable U.S. metropolitan areas for budget-minded retirees, 55places examined cities with a population of at least 50,000.
Researchers determined a score based on several data points, including cost of living, median home value, taxes, accessible health care, transit and walkability scores, and availability of 55+ communities. The rankings include the metropolitan area around the cities.
Check out the gallery above for the 15 metropolitan areas that offer a mix of high-quality living opportunities within an attainable price point, according to 55places.