The top 10 best places to retire – CNBC

Posted: October 12, 2019 at 10:42 am


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Fort Myers, Florida.

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There's no place like home. Unless, of course, you are retired.

Lured by better weather, lower taxes or an improved quality of life, many older Americans consider relocating to stateS like Florida or the Carolinas.

To that end, U.S. News & World Report determined the best places to retire based on criteria such as housing affordability, taxes, health care and overall happiness, using data from sources including the Tax Foundation, Census Bureau and Bureau of Labor Statistics.

This year, Fort Myers, Florida, came in at No. 1, fueled by increases in health-care quality and a strong jobs market, followed by Sarasota, Florida. Lancaster, Pennsylvania, was third, down from last year's top position, in part because of a decrease in housing affordability.

The Sunshine State claimed four of the top 10 spots, according to the 2020 rankings released Tuesday.

Here are the top 10:

1. Fort Myers, FloridaMedian home price: $219,200Unemployment rate: 3.4%Average annual rainfall: 53.2 inches

2. Sarasota, Florida Median home price: $237,260 Unemployment rate: 3.3% Average annual rainfall: 53 inches

3. Lancaster, PennsylvaniaMedian home price: $196,025Unemployment rate: 3.4%Average annual rainfall: 42 inches

4. Asheville, North CarolinaMedian home price: $248,500 Unemployment rate: 3.2% Average annual rainfall: 37 inches

5. Port St. Lucie, FloridaMedian home price: $211,083Unemployment rate: 4.1%Average annual rainfall: 54 inches

6. Jacksonville, FloridaMedian home price: $174,658Unemployment rate: 3.3%Average annual rainfall: 49.2 inches

7. Winston-Salem, North CarolinaMedian home price: $145,725Unemployment rate: 3.7%Average annual rainfall: 46.9 inches

8. Nashville, TennesseeMedian home price: $248,883Unemployment rate: 2.8%Average annual rainfall: 47.3 inches

9. Grand Rapids, Michigan Median home price: $181,533Unemployment rate: 3.1%Average annual rainfall: 38.3 inches

10. Dallas-Fort Worth, TexasMedian home price: $248,375Unemployment rate: 3.5%Average annual rainfall: 36.1 inches

"Deciding where to retire is an important part of your life plan," Emily Brandon, a senior editor for Retirement at U.S. News, said in a statement. "When considering potential retirement spots, you should look for an affordable cost of living, proximity to health care services and a strong economy, especially if you plan to work part-time."

U.S. News & World Report evaluated 125 of the country's largest metropolitan areas. Here is the complete list of the best places to retire.

Still, most American retirees ultimately decide to stay put, and those who do move usually don't go far, according to Rodney Harrell, vice president of AARP's livable communities and long-term services and supports program.

More from Personal Finance:Worried about health-care costs in retirement? Here are 4 ways to keep costs downNearly half of empty nesters still support adult childrenHow much money do you need to retire? Try $1.7 million

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The top 10 best places to retire - CNBC

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October 12th, 2019 at 10:42 am

Posted in Retirement