Expensive Places to Retire That Are Worth It 2019 – Kiplinger’s Personal Finance

Posted: September 30, 2019 at 6:47 pm


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City population: 46,747

Share of population 65+: 14.4%

Cost of living for retirees: 19.2% above the national average*

Average income for population 65+: n/a

Community score: 59.8*

State's tax rating for retirees: Least Tax Friendly

Like much of the Northeast, Connecticut is known to be a high-cost area, and Middletown is no exception. But the Hartford metro area, of which Middletown is a part, is at least more affordable than other major metro areas in the state, including Stamford and New Haven, according to the Council for Community and Economic Research. And local residents tend to pull in high enough incomes to make it work. The city's average income for all households is $90,977 a year, and it's even better for the older population with incomes for residents age 60 and up averaging $92,851 a year.

Plus, being home to Wesleyan University, Middletown offers all the benefits of retiring to a college town, including numerous restaurants, shops and cultural attractions. You can also take advantage of the Wesleyan Institute for Lifelong Learning, which offers no-credit courses, lectures and other educational opportunities at minimal cost and is open to the entire community. And while the nearby city of Hartford has an alarmingly high crime ratewith 1,093.8 violent crimes per 100,000 residents reported, compared with the national rate of 473.2 for cities of similar sizeMiddletown is far safer with a mere 49 violent crimes total reported for the year.

*Data for the Hartford metropolitan statistical area, which includes Middletown.

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Expensive Places to Retire That Are Worth It 2019 - Kiplinger's Personal Finance

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September 30th, 2019 at 6:47 pm

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