55places.com is out today with its list of the most affordable small towns in which to retire in 2019.
55places used the U.S. Census to analyze metropolitan areas across the country with a population of 55,000 or less. From there, certain locations were eliminated based on local crime rates, cost of living, and extreme real estate prices, narrowing it down to 215 places. The remaining locations were determined based on 12 weighted data points, including median income and cost of living via Sperling's Best Places, average home sale price, tax friendliness to retirees, active adult communities, local health care options, job growth based on the Milken Institute, AllTransit™Performance Score, and more.
The most affordable small towns to retire in 2019 include:
- Logan, Utah
- Wausau, Wisconsin
- Cedar Falls, Iowa
- Winchester, Virginia
- Dunedin, Florida
- West Lafayette, Indiana
- Concord, New Hampshire
- Cœur d'Alene, Idaho
- Mankato, Minnesota
- Neenah, Wisconsin
- Goshen, Indiana
- Blacksburg, Virginia
- Bangor, Main
- Marion, Iowa
- Gettysburg, Pennsylvania
- Columbus, Indiana
- Dodge City, Kansas
- Lewiston, Maine
- Ithaca, New York
- Gainesville, Georgia
In addition, 55places surveyed its readers to uncover anticipated costs for buying a home for retirement when comparing it to the value of their current one. It found 26% of respondents answered "about the same," 27% said "slightly less" and 24% said "much less." And when specifically asked how much they expect their next home to cost, 30% said $200K or less, while 62% expect to pay $300K or less.
"Affordability is clearly a driving factor when purchasing a home for retirement," said Danny Goodman, COO of 55places.com. "Whether retirees are looking to stay close to family, move to a warmer climate, adopt a low-maintenance lifestyle, or join the camaraderie that comes with active adult communities, the small towns recognized here offer practical options and attractive amenities at a reasonable price point."
The company also identified the most affordable places to retire in 2019 earlier this year.