Thinking About Retiring? These 3 Cities Could Be Perfect.
Key Points
Warm weather locations, like Florida and Virginia, top the list.
A city in Alaska may also fit many retirees.
- The $23,760 Social Security bonus most retirees completely overlook ›
If you're approaching retirement, you may want to consider moving. After all, not every area of the country is the same. Some states offer financial benefits, like low taxes or a low cost of living. Other places may have more retiree-friendly entertainment options.
No matter what you're looking for, one of the three following cities could be for you. All three were recently ranked as top places to retire by U.S. News.
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Three great cities for retirees
According to the latest U.S. News rankings, the No. 1 city to retire in is Naples, Florida.
Florida has long been known for its financial advantages, as it has no state income tax. Retirees also don't pay any state capital gains, interest, and dividend taxes.
The southern state also has significant climate advantages, compared to more northern regions with harsher winters. While Naples has a population of around 20,000, it's just south of the Fort Meyers metropolitan area, which sports nearly 1 million residents, ensuring plenty of access to amenities while maintaining a more laid-back atmosphere locally.
The main issue with Naples involves housing costs. The average home value in Naples is north of $1.2 million, versus a national average of around $330,000. If you're looking for cheap housing, you'll want to consider the No. 2 retirement destination on this list -- Virginia Beach, Virginia.
While Virginia has a state income tax, the average home value is just $380,000 -- nearly $1 million less than Naples. Virginia Beach also has milder winters than its northern counterparts with fewer oppressively humid summer days than Florida.
One of the more surprising additions to the latest rankings is Anchorage, Alaska, which came in at No. 21 on the list. Alaska is one of the most tax-friendly states in the nation. While that state does have longer and darker winters, nature lovers can rejoice in unparalleled access to the outdoors.
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