The 40 largest Census-defined metropolitan statistical areas were ranked for cost of living factors like housing affordability and inflationary pressures. All data was provided by the Bureau of Labor and Statistics and the U.S. Census. The rankings by Forbes were also based on the:
- Number of persons over 65 who are currently employed.
- Percent of people living below the poverty level are in their golden years.
- Number of doctors per capita
- Number of citizens tapping their Medicare benefits per thousand people--an important issue for those 65 and older.
The top 10 Most Affordable Places to Live in the U.S. include:
1. Columbus, OH
Columbus has a low cost of living and affordable housing--seniors seem to get along just fine. More than a fifth of folks over 65 are employed, and that age group only constitutes 6% of persons living under the poverty level, which indicates that independent living is en vogue in this river city.
2. Dallas, TX
Dallas has a robust economy, thanks to the many corporations headquartered in the city’s center. With sunny weather, low taxes and Southern hospitality, this Texas town is a great place to retire.
3. Minneapolis, MN
This twin city has a reputation for big city arts and nightlife, but it can accommodate a retiree’s fixed budget. While the winter may be rough, the cost of living won’t be.
4. Houston, TX
With tax revenues flowing from the oil and alternative energy industries centered there and a bustling tech scene, retirees won’t need to worry that they are settling into a place on the slide. Throw in affordable housing and sunny weather, and Houston is a great place to begin again.
5. Salt Lake City, UT
Utah’s capital is growing fast. With nearly 16 doctors per thousand people--far above the national average--retirees can be reassured by the cluster of medical professionals and facilities nearby. With a median age of 30, retirees may not blend in, but they can be sure that economic growth is ahead.
6. Indianapolis, IN
This Midwestern city ranked No. 1 for housing affordability relative to income and No. 8 for inflation. With Purdue University providing some youthful vibrancy and Colts fans upping the energy, this is one reasonably priced and lively place to retire.
7. Denver, CO
A Rocky Mountain retirement will involve outdoor living, a vibrant nightlife, and a manageable cost of living. Denver, one of Forbes.com’s Best Cities for Singles, attracts people of all ages making it a good long-term bet for retirees who want to ensure that they are settling somewhere with a bright future.
8. St. Louis, MO
Greater St. Louis is growing fast and with good reason. Affordable housing and sluggish inflation (just 3.2% in June 2008) make this is a great place to retire.
9. Atlanta, GA
This southern city isn’t just for young singletons and families. In terms of net migration among people over 65, Atlanta ranked No. 3 with droves of older Americans picking this affordable and desirable place to spend their golden years.
10. Nashville, TN
With a population of 1,486,695, this city came in at No. 9 for affordable housing. It was also one of our Best Places for Business in 2007. Add in pleasant weather and all the benefits a community derives from a top-notch university like Vanderbilt and you’ve got a fine place to retire.
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