Unveiled: Top US Cities for Retirees Dominated by Pennsylvania with One Spot in Florida

Pennsylvania Emerges as a Top Retirement Destination

According to a recent report, Pennsylvania seems to be a preferred destination for retirees, with seven cities in the state making it to the top ten in the U.S. Read more about Pennsylvania here.

Florida: A Retiree’s Haven?

Interestingly, Florida, often viewed as a retiree’s haven, only managed to secure one spot in the top ten. The rankings were based on various factors such as resident happiness, weather, accessibility to healthcare, dining options, and tax rates.

What Factors Drove the Rankings?

The largest share of rankings was given to general affordability. The parameters included food, groceries, utilities, and housing costs. Unsurprisingly, the capital of Pennsylvania, Harrisburg, took the top spot in the rankings by US News and World Report.

Harrisburg: An Affordable and Accessible Option

With a median monthly mortgage price of just $945 and a median monthly rent of $1,019, Harrisburg is a friendly option for its 17.7 percent population aged over 65. Additionally, the city’s proximity to major cities like New York, Philadelphia, Pittsburgh, Baltimore, and Washington is a huge advantage.

Small Cities in Pennsylvania Make the Cut

Given the high weightage to affordability, seven smaller cities in Pennsylvania made it to the top ten. As Insider reports, retirees are not just looking for a place that gives them value for money, but also a place that promises a happy and healthy life.

Other Cities in Top Ten

Cities such as Reading, Lancaster, Scranton, Allentown, York, and Pittsburgh, all from Pennsylvania, made it to the list mainly due to their affordable cost of living rates. Youngstown, from the neighboring state of Ohio, also found a place in the top ten. Despite being pricey, New York City made the cut thanks to its top-quality hospitals and dining choices.

Is Florida Losing its Charm?

Interestingly, Daytona Beach was the only representative from Florida in the top ten. Analysts speculate that regular extreme weather events surpass the state’s relatively low tax rates. Rising interest rates, increasing cost of goods, and changing weather patterns seem to be impacting the state’s attractiveness as a retirement destination.

Florida Dethroned as the Retirement Capital

Earlier this year, Florida was officially overthrown as America’s retirement capital. Local reports suggested that people were finding it increasingly difficult to afford life in the Sunshine State. A study by finance firm Wallet Hub found that Virginia had taken over as the best state to retire to, thanks to its relative affordability and accessible healthcare.