Most near-retirees may be heading down south for their golden years, but the north and east coast are now ranking as some of the top spots to retire to.
New rankings by StorageCafe reviewed 100 of the largest metro areas in the U.S. and found the north and east are in high demand among Baby Boomers: New York, Albany, Bridgeport, Connecticut and Providence, Rhode Island were some of the northern and eastern areas that dominated the top 20 positions. Regions in Ohio and Wisconsin also ranked within the top spots, with Cleveland-Elyria, Ohio placing second.
Near-retirees cited healthcare and cost-effectiveness as reasons to move up north or closer to the east. The Cleveland-Elyria region of Ohio reported quality levels for safety, cost of living and provision of healthcare workers and social assistance, according to the rankings.
New York City and its surrounding areas scored fourth in the ranking due to its high provision of healthcare workers, a high number of parks and golf courses, and an average income of over $32,000 for retirees. Over upstate, Albany-Schenectady-Troy ranked sixth, placing in the top ten because of its safety.
Unsurprisingly, The Sunshine State led rankings with Cape Coral-Fort Myers and North Port-Sarasota-Bradenton regions placing within the top three areas to retire to. Florida regions normally rule retiree rankings, thanks to low taxes, warm weather and an abundance of retirement communities in the southeast.
Another important factor to retirees—security. Winner Cape Coral-Fort Myers reported the highest safety score out of the 100 metros in the ranking along with a high average life expectancy at 82.4 years.
Heading west, Californian and Texan regions ranked in the top 20 for its beaches and warmer weather. The Oxnard-Thousand Oaks-Ventura metropolitan area near Los Angeles scored ninth on the list due to its high average annual income of over $35,000, and an average life expectancy of 82.3 years. El Paso, Texas placed eleventh for its low costs and higher allocation of healthcare workers and social assistance.
The full list of rankings are:
- Cape Coral-Fort Myers, FL
- Cleveland-Elyria, OH
- North Port-Sarasota-Bradenton, FL
- New York-Newark-Jersey City, NY-NJ-PA
- Dayton-Kettering, OH
- Albany-Schenectady-Troy, NY
- Milwaukee-Waukesha, WI
- Tampa-St. Petersburg-Clearwater, FL
- Oxnard-Thousand Oaks-Ventura, CA
- Bridgeport-Stamford-Norwalk, CT
- El Paso, TX
- Madison, WI
- Providence-Warwick, RI-MA
- Rochester, NY
- Boston-Cambridge-Newton, MA-NH
- Harrisburg-Carlisle, PA
- Deltona-Daytona Beach-Ormond Beach, FL
- Miami-Fort Lauderdale-Pompano Beach, FL
- Syracuse, NY
- Hartford-East Hartford-Middletown, CT
SEE ALSO:
- Florida Best, New Jersey Worst for 2022 Retirement: WalletHub
- Wrong Way: United States Drops in Retirement Security
- There’s a New ‘Best Place to Retire’ – And It’s Not in Florida
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
