Care Benefits for Veterans and Surviving Spouses
You’ve likely heard that Florida is the place to be once you’ve retired. But do you know the real best locations to retire to? Here is a list of the best retirement locations according to the Milken Institute.
The top 10 large metropolitan areas for both ages 65-79 and 80+ and the top 10 small metropolitan areas for both ages 65-79 and 80+ have been included in this list.
Each city is ranked on a number of attributes, to ensure rankings are inclusive of the wide range of concerns retirees face. Indicators include general information, health care, wellness, finances, living arrangements, employment and education, transportation and convenience, and community engagement.
General indicators include:
- Cost of living
- Weather
- Economic standings
- Crime rate
Health care indicators include:
- Number of doctors per capita
- Number of hospitals
- Geriatric services
- Alzheimer’s units
- Inpatient services
- ER wait time
Wellness indicators include:
- Medicare enrollment
- Obesity rate
- Number of fast food outlets
- Number of fitness and recreational centers
Financial indicators include:
- Number of financial institutions
- Total bank deposits
- Dependency ratio
- Poverty rates
Living arrangement indicators include:
- Median house price
- Median rental price
- Number of nursing beds
- Cost of adult day services
- Cost of assisted living
- Number of continuing care facilities
Employment and Education indicators include:
- Employment rates
- College enrollment rates
- Number of community colleges
- Number of universities
Transportation and Convenience indicators include:
- Average commute time
- Mean fare for public transportation
- Investment in senior transportation
- Number of grocery stores
- Investment in special needs transportation
Community engagement indicators include:
- Percent of population above 65 years old
- Number of arts and entertainment facilities
- Senior volunteer rates
- Number of public libraries
- Number of YMCAs
- Funding for seniors
Each indicator is given a ranking and a weight in calculations to find the best cities for retirement. These weights differ for ages 65-79 and 80+ depending on the average importance in lifestyle for each age group. The calculations are also split between large metropolitan areas and small metropolitan areas. This allows you to decide if you want to live in a large highly populated area or if you would prefer to live in a less populated area.
Best Large Metros for age 65-79
- Madison, Wisconsin
- Provo, Utah
- Omaha, Nebraska
- Boston, Massachusetts
- Salt Lake City, Utah
- Urban Honolulu, Hawaii
- Des Moines, Iowa
- Jackson, Mississippi
- Austin, Texas
- New York, New York
Best Small Metros for age 65-79
- Iowa City, Iowa
- Sioux Falls, South Dakota
- Columbia, Missouri
- Bismarck, North Dakota
- Ithaca, New York
- Ames, Iowa
- Cheyenne, Wyoming
- Rapid City, South Dakota
- Midland, Texas
- Ann Arbor, Michigan
Best Large Metros for age 80+
- Provo, Utah
- Boston, Massachusetts
- Madison, Wisconsin
- New York, New York
- Omaha, Nebraska
- Salt Lake City, Utah
- Des Moines, Iowa
- San Francisco, California
- Toledo, Ohio
- Cleveland, Ohio
Best Small Metros for age 80+
- Iowa City, Iowa
- Sioux Falls, South Dakota
- Ames, Iowa
- Columbia, Missouri
- Rochester, Minnesota
- Midland, Texas
- Bismarck, North Dakota
- Ann Arbor, Michigan
- Fargo, North Dakota
- Gainesville, Florida
If you are considering options for retirement, look into some of these locations, or visit the Milken Institute website to find how your metropolitan city ranks. You can also see the breakdown of rankings for each city on the website, which can be helpful if you have a specific set of priorities when searching for a retirement home.
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