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Top 5 cities to retire on a budget
Old 10-30-2008, 11:06 AM   #1
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Top 5 cities to retire on a budget

Top 5 cities to retire on a budget

1. Columbus, Ohio

2. Dallas

3. Minneapolis

4. Houston

5. Salt Lake City


What do you guys think? Do you know other cities that would beat these?
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Old 10-30-2008, 11:07 AM   #2
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Interesting. What's the source of the survey? What factors were considered?

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Old 10-30-2008, 11:08 AM   #3
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Here is the link

America's best places to retire on a budget - Buy a House: MLS Listings & Home Buying Tips - MSN Real Estate
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Old 10-30-2008, 11:16 AM   #4
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based solely on budget there are probably better.
start here
Stats about all US cities - real estate, relocation info, house prices, home value estimator, recent sales, cost of living, crime, race, income, photos, education, maps, weather, houses, and more
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Old 10-30-2008, 11:25 AM   #5
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I bet the medical facilities in those cities are key to their selection for retired people. Oh, never mind--I see it's just a dollars and cents equation by Forbes magazine based on the 40 largest metropolitan areas. That's just dumb, Forbes--people choosing a place strictly by dollars and cents are not going to limit themselves to the 40 largest cities when there are surely much cheaper smaller places.

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To find the best areas in the U.S. for a sustainable and exciting second act, Forbes ranked the 40 largest census-defined metropolitan statistical areas and looked at cost-of-living factors like housing affordability and inflationary pressures
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Old 10-30-2008, 11:33 AM   #6
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Originally Posted by rec7 View Post
Top 5 cities to retire on a budget

1. Columbus, Ohio

2. Dallas

3. Minneapolis

4. Houston

5. Salt Lake City


What do you guys think? Do you know other cities that would beat these?
Interesting list. There is a long running thread on this forum entitled"Why aren't more retiring to Houston?" that examines the pros and cons of that choice. I'd visit Minneapolis for a couple of weeks in the dead of winter before considering a long-term move there. Ditto, Dallas in the Summer. Salt Lake City has some interesting religious demographics going on that you might want to experience firsthand before settling there.

What are your objectives? If you want access to outdoor recreation, cultural events, professional sports, operas, shopping,etc. the list would be different than if you just want a cheap place to retire.
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Old 10-30-2008, 12:03 PM   #7
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I've never understood why people move when they retire. I live where I do because I like it, have friends and a full social life. I don't intend to give any of that up when I retire.
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Old 10-30-2008, 12:07 PM   #8
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Bogota. .....Actually, I think it depends on how you want to retire. Is culture important to you, or a nice beach? I would think retiring to Mexico or the Bahamas could be nice, and probably not that expensive, if not cheaper than staying in the US. Cayman Islands is lovely.
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Old 10-30-2008, 12:45 PM   #9
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I've never understood why people move when they retire. I live where I do because I like it, have friends and a full social life. I don't intend to give any of that up when I retire.
Depending on how things go over the next 15-20 years, it may be the only way that DW and I will be able to retire early (much of our net worth is tied up in our house). It wouldn't be my first choice, because I like the area where I live very much. The weather is almost unbeatable, and I like the laid-back culture. The social aspects of staying put are less compelling. I do have friends here, of course, but my best friend is DW. As long as she's with me whereever we end up, I'll be happy.
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Old 10-30-2008, 01:18 PM   #10
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Originally Posted by rec7 View Post
Top 5 cities to retire on a budget

1. Columbus, Ohio

2. Dallas

3. Minneapolis

4. Houston

5. Salt Lake City


What do you guys think? Do you know other cities that would beat these?
I currently live in Dallas and lived in Minneapolis for over 10+ years in the 70's/80's. Minneapolis is a very pretty city with many outdoor activities. Summers are fantastic there. The main reason I would never live there full time again in the future is because of the horribly cold weather in the winter and a winter that seems like it will never end as spring approaches. I prefer Dallas because of the warmer weather. Yeah, the summers can be brutal sometimes, but they're not unbearable. Both Dallas and Minneapolis are pretty affordable but in my experience, Dallas seems to be a little cheaper to live in. Dallas probably has higher property taxes, but Texas has no state income taxes, so that is a huge advantage over Minneapolis. Dallas home prices are very stable...I don't think they've dropped more than 5% in the last year...of course, they didn't rise in the previous 10 years like the rest of the country either. My Dallas home appraisal actually went up this year. If you can handle the cold weather though, Minneapolis is a great place to live.
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Old 10-30-2008, 01:22 PM   #11
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I've never understood why people move when they retire. I live where I do because I like it, have friends and a full social life. I don't intend to give any of that up when I retire.
I live where I do because its where my parents lived when I was a kid. When I grew up I joined the Army and went to Germany. When I got out of the Army, I came home to where my family was and got a job. Years went by and I was tied to this city by my job, pension and family. That doesnt mean I like it here. Truth be told, I hate it here. Im not saying I hate my life, I just wish my life was located in a different area. So, yes, when I retire I will be moving.

PS..I live in Dallas which is great as far as low cost of living goes but sucks on more levels than I care to list right now.
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Old 10-30-2008, 01:26 PM   #12
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Quote:
Originally Posted by nun View Post
I've never understood why people move when they retire. I live where I do because I like it, have friends and a full social life. I don't intend to give any of that up when I retire.
I retired here because this is where I ended up.

I am very lazy and will probably stay here because moving is too much trouble; but who knows?
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Old 10-30-2008, 01:38 PM   #13
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Somewhere on here was a thread with a questionaire. You could put in your preferences, and it would tell you the best place for you to retire.....Here 'tis

Best Places to Retire Search - US News and World Report
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Old 10-30-2008, 01:48 PM   #14
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I grew up in a border state across the river from a once great old city. This city, Cincinnati has all the benfits and all the drawbacks of any old northern city. It is beautiful, the climate is moderate, there are educational, cultural and entertainment possibilities galore.

It is also crime ridden, blighted in all but the best close in neighborhoods. All the quality suburban development is going in on the finges, as well as most of the business, industrial and commercial energy.

The city is more stable than most economically because unless people stop using soap or buyng insurance or flying in jets with engines, it has products to sell.

The river forms a border with a completely different cultural and political scene, and for retirees offers a good combination. Very low crime, all the usual suburban amenities but close to downtown Cincy and all that it may offer to the careful participant.

If my immediate family, grand-daughter etc weren't here, I would strongly consider going back there as my sibs and larger family structure is there, as well as some old friends. While I was out there recently I sampled the social dancing scene, some downtown clubs, etc, and I think it is pretty good.

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Old 10-30-2008, 02:07 PM   #15
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You'd be better off avoiding Ohio if you could help it- taxes here are quite high- both on income, property and sales taxes.

Indiana 80 miles west of Columbus or Pennsylvania 150 miles East would both work better $$ wise, I think.
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Old 10-30-2008, 02:24 PM   #16
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Depending on how things go over the next 15-20 years, it may be the only way that DW and I will be able to retire early (much of our net worth is tied up in our house).
Tapping the equity in my current residence and moving to someplace where houses are less expensive so I can be debt free is also an important component of my ER plans. I am in the second year of a 30 year mortgage--if I stay put until this house is paid off, it won't be early retirement any more--I'll be 80!
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Old 10-30-2008, 02:37 PM   #17
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These lists are really pretty useless unless they are tailored to what's important to individuals. Some people want the lowest taxes, some want lowest cost of living, some want the best weather, some want the most recreational/cultural opportunities, and so on. No one-size-fits-all list can assign reasonable weightings for these factors and others.
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Old 10-30-2008, 02:39 PM   #18
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Originally Posted by rec7 View Post
Top 5 cities to retire on a budget

1. Columbus, Ohio

2. Dallas

3. Minneapolis

4. Houston

5. Salt Lake City


What do you guys think? Do you know other cities that would beat these?
I live very close to Columbus OH (Dublin - a suburb) and it just sounds like marketing hype to me coming from the city spokesperson. I don't see a lot of people leaving here for the city center.
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Old 10-30-2008, 02:47 PM   #19
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When I see Columbus as a place to retire, I think of Columbus, Indiana, pop 39,000:

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Smithsonian Magazine called Columbus [Indiana] a "veritable museum of modern architecture." Visitors to Columbus [Indiana] can see more than 70 buildings and pieces of public art by internationally noted architects and artists, including I.M. Pei, Eliel Saarinen, Eero Saarinen, Richard Meier, Harry Weese, Dale Chihuly and Henry Moore.
Columbus, Indiana Convention and Visitors Bureau

I don't know financially and otherwise how it would stack up as a place to live, but it was a nice place to visit.
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Old 10-30-2008, 02:48 PM   #20
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Columbus is fun if you're a college football fan and the Buckeyes are winning. Houston is decent if you don't mind humidity and the occasional hurricane. Dallas is nice if you don't mind traffic and non violent crime. I've got nothing on the other cities although I've heard Minneapolis is lovely in the summertime. I don't think I'd have any interest in living in Salt Lake City.
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