Four cities in Florida have secured a coveted spot in the top 10 retirement cities, with Tampa emerging as the ultimate winner, according to a recent ranking by WalletHub.
While concerns like climate change and high living costs persist, Tampa offers a range of attractive features for retirees. Notably, the city is situated in a tax-friendly state and boasts a wide array of activities tailored for older adults.
WalletHub analyst Jill Gonzalez explains, “Tampa ranks impressively within the top 50 for affordability. Furthermore, it clinches the fifth spot overall for activities, featuring the highest concentration of fishing facilities per capita and claiming seventh place for bingo halls. Additionally, it ranks among the top 30 for quality of life, with a notably low property-crime rate.”
To compile the rankings, WalletHub evaluated over 180 U.S. cities across 45 critical indicators spanning affordability, quality of life, healthcare, and availability of recreational activities. Following Tampa, the other cities that secured spots in the top five are Scottsdale, Arizona, along with three other Florida destinations: Fort Lauderdale, Orlando, and Miami.
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“Our study focused on four key factors: affordability, activities, quality of life, and healthcare. The leading cities tend to achieve rankings above 30 in their strongest areas while falling below 50 in at least one category. For instance, Scottsdale, which clinches second place overall, boasts excellent scores for activities, quality of life, and healthcare. However, it lacks affordability, ranking 61st in this aspect,” explains Gonzalez.
Regarding the cities at the bottom of WalletHub’s rankings, Gonzalez notes, “These locations receive low scores across all categories, indicating they are not well-suited for senior citizens or those nearing retirement.”
The lowest-ranked cities include Stockton, California, along with Newark, New Jersey; Bakersfield, California; San Bernardino, California; and Detroit.
The Best and Worst Retirement Destinations
Below is a summary of some additional highlights from the report.
Best Retirement Cities:
- Tampa, Florida
- Scottsdale, Arizona
- Fort Lauderdale, Florida
- Orlando, Florida
- Miami, Florida
Worst Retirement Cities:
- Stockton, California
- Newark, New Jersey
- Bakersfield, California
- San Bernardino, California
- Detroit, Michigan
Pearl City, Hawaii – A Haven for Senior Citizens
Pearl City, Hawaii, stands out as a remarkable destination for senior citizens, with a staggering 25.5% of its population aged 65 and older. This number surpasses that of Irving, Texas, the city with the lowest share of older residents, by a remarkable factor of 3.2.
Among the various factors that make Pearl City an attractive option for retirees is its affordable cost of living, particularly for those on a fixed income. According to WalletHub, the adjusted cost-of-living index in Brownsville, Texas, is a remarkable low of 75.39. This figure is 2.4 times lower than the cost found in Honolulu and Pearl City, which have an index of 182.16.
Plano, Texas, boasts the highest percentage of workers aged 65 and older, with a notable 26.7%. This percentage is 2.4 times higher than the city with the lowest share of older workers, Gulfport, Mississippi, at 11.1%.
When it comes to home healthcare facilities, St. Louis takes the crown with an impressive number of 79.26 facilities per 100,000 residents. In stark contrast, New York has the fewest facilities, with a mere 2.75 per 100,000 residents.
It’s important to note that the cities that shine in this report do not necessarily align with WalletHub’s ranking of the best states for retirement. While Virginia, Florida, Colorado, Wyoming, and Delaware claim the top spots at the state level, their individual cities may not fare as well in this assessment. By focusing on city-specific data, we are able to delve deeper into the conditions and facilities offered to senior citizens in each area. In fact, we have even divided the “quality of life” category into two sections to highlight the recreation and fun activities available for retirees in each city.
With new updates including results by county and the ability to filter by politics and snowfall, this report aims to provide a comprehensive overview of the best cities for retirement.