The Best Affordable Places to Retire in the US

In my capacity as a financial advisor I am often calledMichigan
upon to evaluate a client's financial condition in orderMichigan is second only to Texas in terms of the
to assist them in making the transition from workerlargest number of best affordable communities. If
to retiree. Oftentimes, the underlying reason foryou can survive the cold winters, Michigan is a great
meeting is a fear that my clients all share...can theyplace to retire. Holland, Michigan is at the top of the
retire with the assets they have or expect to have?affordability list with a median home price of
More often than not the answer is yes you can$160,000, low real estate taxes and better than
retire, just not in New Jersey. New Jersey,average low income and sales tax rates of 3.9% and
unfortunately, is among the most expensive places6%, respectively. Other Michigan communities on the
to live in the U.S. and the state income tax benefitslist include:
are simply not rich enough to offset the high cost ofSterling Heights, with a median home price of
living in New Jersey. So which states offer the best$186,000.
and most affordable retirement options? To answerAnn Arbor, with a median home price of $230,000.
that question I focused on four key retirementFarmington Hills, with a median home price of
factors:$245,000.
1) Affordable HousingWes Bloomfield, with a median home price of
2) Lowest Taxes$282,000.
3) Best ClimateLower than average crime rates make Michigan a
4) Lowest Crime Ratesafe retirement haven.
States which rank as the best affordable places toPennsylvania
retire are as follows: Texas, Michigan, Pennsylvania,Bethlehem, Pennsylvania is at the top of the list in
Colorado, Florida, Virginia, Arizona, Wisconsin, Utahaffordable best places to retire, with the median
and North Carolina.home price of $150,000. The income tax rate in
TexasPennsylvania of 3.07% is also low when compared to
Texas hits the mark in just about every retirementother states, while auto insurance is slightly higher
factor. Its communities consistently have the mostthan most other states, although still lower than that
affordable housing in the United States. With noof New Jersey. The crime rate of 306 personal
income tax, your retirement dollars go far. There is acrimes per 100,000 population, while higher than the
higher than average sales tax of 8.25%, however.national average of 228 per 100,000, is still low when
The climate is mild in the winter and slightly warmer incompared to other "city" communities. Just to put it
the summers than that of New Jersey. In terms ofinto perspective, Columbus, Ohio, another affordable
crime rates, most of the affordable areas have crime"city" community, has a crime rate of 812 per
rates that are slightly higher or slightly lower than the100,000.
average crime rate in the U.S. Best affordable placesColorado
to retire in Texas include the following:Colorado Springs, with its majestic views of the
Denton, with a median home price of $151,000.Colorado Mountains and its median home price of
North Richland, with a median home price of$192,000, make it one of the most desirable of the
$166,000.best affordable communities. While the income tax
Richardson and Carrollton, with a median home priceand sales tax rates are higher than Texas, Michigan
of $189,000.and Pennsylvania, its auto insurance rates are lower,
Round Rock, with a median home price of $193,000.as are its property taxes. Other Colorado
Austin, has a median home price of $198,000, whichcommunities on the list include:
is quite impressive given its "city" status.Fort Collins, with a median home price of $212,000.
Sugar Land, with a median home price of $214,000.Longmont, with a median home price of $230,000.
Richardson also boasts the lowest crime rate of all ofEagan, with a median home price of $232,000.
the affordable Texas communities, whereas, AustinEagan boasts the lowest crime rate on our top ten
has the highest crime rate when compared to theselist, of 110 crimes per 100,000 population.
same communities. This does not make AustinFlorida
undesirable, however, since its crime rate is lowerWith no income tax and affordable housing, Florida
than that of most cities. The only downside in Texaswas at one time the most desirable destination for
I found was the higher than average auto insuranceretirees. Unfortunately, soaring property values have
cost. While lower than that of New Jersey, it is stillput an end to its affordability, for the most part,
high by comparison to other non-Texas affordablealthough there are still a few diamonds in the
communities.Sunshine State.