Cheapest Places Where You'll Want to Retire
- Cost of living for retirees: 3.7% below U.S. average
- Share of population 65+: 30.8%
- Arizona's tax rating for retirees: Most Tax-Friendly
- Lifetime health care costs for a retired couple: Below average at $378,205
Undoubtedly, many of you have considered the Grand Canyon State for its retiree-friendly climate and beautiful natural setting. Plus, the tax situation is equally attractive. With its low income taxes and lack of state taxes on Social Security, Arizona is among the 10 most tax-friendly states for retirees.
Prescott, about 100 miles north of Phoenix, eases the stress on your retirement kitty even more with its below-average living costs. But affordable doesn't mean boring. Prescott offers an active cultural scene with numerous theaters, galleries and music venues, as well as a wealth of things to do outdoors, including golfing and hiking.
The Best 3 Cities to Retire In -- The Motley Fool
Featured among best cities to retire in on lists from Bankrate.com to Escapehere.com, Prescott is a hidden gem among retirement communities. For those not keen on the desert heat, Prescott is located in a cooler climate in Arizona's north where temperatures from a high of 52 in January to 89 in July.
Prescott offers plenty of options for the outdoorsy adventurer, and this old mining town has a downtown full of buildings listed on the National Register of Historic Places. According to realtor.com, the median listed home is $189,900, or $79/sq. ft. lower than Arizona's average of $209,900 and the national average of $216,102. With a median age of 53, the community is also ideal for retirees looking to be around other seniors. Retirees can also benefit from a friendly state tax policy as Social Security is untaxed and its top income tax rate is just 4.5%. Finally, the average annual property tax in Prescott is $1,317, significantly less than the national average of $2,193.
Executive Referral Network
Prescott Arizona 96305