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5 Top Ranking Cities for Retirees

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Demographics

5 Top Ranking Cities for Retirees


October 14, 2020
Downtown Sarasota
Photo: KarolinaAnna

U.S. News & World Report announced the best places to retire for both 2020 and 2021. To do so, the company surveyed more than 3,000 people aged 45 to 59 about the most important factors that play a role in a retirement destination. Six criteria were formed and 150 metros were tested against them: housing affordability, happiness desirability, retiree taxes, job market, and healthcare quality. In possibly no surprise to anyone, four Florida cities made the top five list, while Lancaster, Penn. stole the fifth place spot. 

5. Lancaster, Pennsylvania

Known for its spacious farms and Amish communities, Lancaster, Pennsylvania, about an hour west of Philadelphia, was the fifth-best place to retire this year, with a score of 7.4 in the retirement index. In 2018, Lancaster came in first place in U.S. News' retirement ranking. This year, Lancaster got top ranks in health care and housing affordability, with a median home price of $215,975.

4. Naples, Florida

The "Sunshine State" is a popular retirement spot for reasons beyond the year-round sunny weather. Naples, for example, which is on the Gulf of Mexico in southwest Florida, got an overall retirement score of 7.4 out of 10. Homes are less affordable in Naples than other Florida cities, with a median price of $326,000. That said, Naples and other Florida municipalities have a "homestead tax exemption" for permanent residents, which decrease a property's taxable value by up to $50,000.

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