As more and more Baby Boomers join in on the hunt for the best places to retire, a new study finds the most and least affordable markets.
Sebring, Fla. is the most affordable, while San Luis Obispo, Calif. is the least affordable, according to analysis done by Realtor.com. The median list price for a single-family home in Sebring is $180,100, while San Luis Obispo's median list price offering is $729,600. Comparing the shares of residents aged 60 years and up, seniors account for 40.8 percent of Sebring's population, and 26.2 percent of San Luis Obispo's.
After decades of hard work, real estate agent Sharon Clift, 62, decided to retire along with her husband, a former machinist at Caterpillar. So in April, the couple uprooted their lives and moved from Peoria, IL, to Sebring, Fla., where they had purchased a 2,500-square-foot ranch on an acre of land for $340,000. The home came with maple cabinets, charming crown molding, and two garages—one of them just perfect for a fully appointed man cave.
Advertisement
Related Stories
New-Home Sales
Mortgage Rates Are Up but New-Home Sales Still Solid in March
Lack of existing home inventory drove a rise in new-home sales, despite higher interest rates in March
Labor + Trade Relations
Who's Earning What in Construction
Workers in construction management roles may earn a higher median wage, but on average, lower-paid occupations have experienced somewhat faster wage growth
Build to Rent
Build-to-Rent Is Booming, Particularly in These Metros
A recent report finds that the Phoenix metro leads with more than 4,000 build-to-rent units completed in 2023, and Texas is the leading state for build-to-rent development