There are many things to consider when deciding where to spend your retirement. Lifestyle options, cost of living, access to healthcare and more are often factors that influence where a person decides to settle down after retirement. Each year, U.S. News & World Report assists in the decision process by compiling a list of the best places to retire in the U.S. For 2018, Austin took the number 9 spot among the top 10 retirement cities.
To create the list, analysts assessed 100 largest U.S. cities based on housing affordability, desirability, happiness, taxes, the job market and access to quality healthcare. Data for the assessment was derived from trusted sources like the United States Census Bureau, the Federal Bureau of Investigation, the Department of Labor and U.S. News’ own internal resources. Then, the data were weighted based on the answers from an online survey in which retirees from across the country voted for what they consider in looking for a place to retire.
The results of the analysis showed that cities in Texas performed well due to housing affordability, low tax rates and the overall happiness of its residents. Austin was uniquely positioned in the ranking due to the presence of a premier public university (UT Austin), a thriving tech hub, a vibrant music scene and top-quality hospitals like Seton Medical Center and St. David’s Medical Center.
Although the cost of living in Austin has risen over the years due to the booming population, it is leveraged by the lack of state personal income tax. As of the time of the ranking, the median home price in the Austin area was $264,700, which is still much lower than the cost of housing in coastal cities with similar amenities. In addition, residents can take advantage of the many free activities throughout the area, whether it’s a movie or concert in a park or a public street festival. Add to that the stable local economy and Austin becomes one of the best places to retire.
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