Retire

Best Places to Retire in the Northeast – 2021 Study – Yahoo Finance

Summary

SmartAsset: Best Places to Retire in the Northeast. Bethlehem, Pennsylvania.

Not everyone retires in Florida. For some, the Northeast is a preferable retirement destination for its seasonal changes, blend of cities and countryside, and rich history. Despite generally high costs of living when compared with other regions of the country, a comfortable retirement in the Northeast is possible if you know where to look.

To determine the best places to retire in the Northeast, we consi…….

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SmartAsset: Best Places to Retire in the Northeast. Bethlehem, Pennsylvania.

Not everyone retires in Florida. For some, the Northeast is a preferable retirement destination for its seasonal changes, blend of cities and countryside, and rich history. Despite generally high costs of living when compared with other regions of the country, a comfortable retirement in the Northeast is possible if you know where to look.

To determine the best places to retire in the Northeast, we considered cities with populations of at least 65,000 residents in these nine states: Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont. We compared 55 cities across eight different metrics: percentage of the population above the age of 65, housing costs as a percentage of retirement income, estimated tax burden for seniors, number of retirement communities, number of medical centers, violent crime rate, property crime rate and unemployment rate. For details on our data sources and how we put all the information together to create our final rankings, read the Data and Methodology section below.

Key Findings

  • Pennsylvania is an unlikely retirement haven. The Keystone State is well-represented with four cities ranked in the top 10. Bethlehem (No. 1), Erie (No. 3), Scranton (No. 7) and Pittsburgh (No. 9) all have relatively low housing costs compared to the average retirement income. While average housing costs are 37.53% of the average retirement income across the 55 cities in our study, housing expenses in these four Pennsylvania cities are less than 30% of the average retirement income.

  • Retirement communities emerge as an important metric. Six of the 10 best places to retire in the Northeast rank highly for their ratio of retirement communities. These six cities all fall in the top 10 for this single-weighted metric, which considers the number of retirement communities per 10,000 residents.

Image is a map by SmartAsset titled “Top 10 Cities to Retire in the Northeast.”

1. Bethlehem, PA

Located 70 miles north of Philadelphia, the city of Bethlehem, Pennsylvania, is the top-rated place to retire in the Northeast. Bethlehem has the seventh-most retirement communities per 10,000 residents across our study (0.79) and eighth-highest percentage of residents who are 65 and older (18.07%). Meanwhile, housing costs in this city of 76,000 residents are 29.77% of the average retirement income, the 11th-lowest percentage out of all 55 cities that we studied.

2. Danbury, CT

With nearly 85,000 residents, Danbury, Connecticut, ranks highly for its relative low crime rates. Danbury has the fifth-fewest violent crimes per 100,000 residents (114) and eighth-fewest property crimes per 100,000 residents (1,227). This city in southeastern Connecticut also has the 11th-most medical centers per 10,000 residents (15.14) and 12th-highest percentage of residents who are 65 and older (16.63%).

3. Erie, PA

Located in the northwestern corner of the state, …….

Source: https://finance.yahoo.com/news/best-places-retire-northeast-2021-120054132.html