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Pennsylvania and Florida towns took top spots for places to retire, according to U.S. News & World Report.
The yearly list of Best Places to Retire in the U.S. named Lancaster, Pennsylvania as the No. 1 place to retire for 2023. Four other Pennsylvania towns: Harrisburg, York, Allentown and Reading, also made the Top 10. Pensacola, Tampa, Naples and Daytona Beach in Florida also made the list, while Ann Arbor, Michigan, took the No. 8 spot.
The ranking methodology took multiple factors into account – happiness, housing affordability, health care, retiree taxes, desirability and the job market. Going on the general rule that retirees and future retirees have similar priorities, the people surveyed were nearing retirement age − between ages 45 and 59 − and were of retirement age at 60 and older.
Here is a look at the Top 10 places:
1. Lancaster, Pennsylvania
Lancaster has a unique makeup of farms and manicured neighborhoods, along with the bustling energy of an urban center. It’s home to farmers, families, college students, and young professionals, the report states. As one of the “oldest inland cities” in the country, it is “rich with history and unique architecture,” according to Visit Lancaster City.
- Metro Population − 550,480
- Median Home Price − $259,812
- Median Monthly Rent −$1,114
- Median Age − 38.7 years old
- Average Annual Salary − $50,000
- Unemployment Rate − 8.1%
2. Harrisburg, Pennsylvania
This city boasts of annual festivals, events, and beautiful scenery along the Susquehanna River and the Appalachian Trail. The city also has a 1-mile long, 63-acre City Island located across the downtown walking bridge.
- Metro Population − 587,411
- Median Home Price − $236,158
- Median Monthly Rent − $1,019
- Median Age − 40.3 years old
- Average Annual Salary − $54,370
- Unemployment Rate − 8.3%
3. Pensacola, Florida
Known for its “sugar sand beaches,” Pensacola’s cost of living is slightly lower than the national average. State residents don’t pay an individual income tax or annual vehicle property tax.
- Metro Population − 503,173
- Median Home Price − $278,792
- Median Monthly Rent − $1,105
- Median Age − 38.6 years old
- Average Annual Salary − $47,420
- Unemployment Rate − 6.3%
4. Tampa, Florida
The city is well-known for its paddling trails for canoeing and kayaking, shopping, bars and restaurants that make residents feel like they’re on a vacation all year long. About 27% of residents are between the ages of 45 and 64, and 19.6% are over the age of 65.
- Metro Population − 3,146,074
- Median Home Price − $369,299
- Median Monthly Rent − $1,230
- Median Age − 42.2 years old
- Average Annual Salary − $53,270
- Unemployment Rate − 7.3%
5. York, Pennsylvania
This small metro is known for its rich history, museums and numerous hiking trails. With housing costs lower than the national average, many folks who work in neighboring Maryland call York their home.
- Metro Population − 454,605
- Median Home Price − $210,546
- Median Monthly Rent − $1,025
- Median Age − 40.8 years old
- Average Annual Salary − $51,240
- Unemployment Rate − 8.5%
6. Naples, Florida
This southwest Florida town is known for its art galleries, shopping, and historic downtown area. While devastating hurricanes do make an appearance, the area is also known for its high humidity, daily showers and high temperatures during the summer season.
- Metro Population − 372,797
- Median Home Price − $649,679
- Median Monthly Rent − $1,440
- Median Age − 51.5 years old
- Average Annual Salary −$50,820
- Unemployment Rate − 7%
7. Daytona Beach, Florida
Daytona Beach is known for its beach motorsports, sports events, shopping, fishing, racing and golfing. With cost of living lower than the national average, utilities cost less. The downside is that area residents earn less than the average American.
- Metro Population − 662,671
- Median Home Price − $339,137
- Median Monthly Rent − $1,181
- Median Age − 47.5 years old
- Average Annual Salary − $44,620
- Unemployment Rate − 7.8%
8. Ann Arbor, Michigan
The only city to make the list that wasn’t located in either Florida or Pennsylvania, Ann Arbor is a popular university town about 25 miles away from Detroit Metro Airport. While Ann Arbor residents don’t pay a city income tax, Michigan drivers do pay among the highest insurance rates in the country.
- Metro Population − 372,428
- Median Home Price − $391,633
- Median Monthly Rent − $1,218
- Median Age − 34.1 years old
- Average Annual Salary − $61,010
- Unemployment Rate − 7%
9. Allentown, Pennsylvania
Located in the Lehigh Valley, this town is home to historic buildings, museums, and a booming business district. This is the town where The Liberty Bell was hidden during the Revolutionary War, and visitors can ring a replica of the bell at the Liberty Bell Museum in Zion’s Reformed United Church of Christ.
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- Metro Population − 857,997
- Median Home Price − $332,690
- Median Monthly Rent − $1,141
- Median Age − 41.2 years old
- Average Annual Salary − $53,530
- Unemployment Rate − 9.9%
10. Reading, Pennsylvania
This city was founded in 1748 and celebrated its 275th anniversary this year in March. Living in Reading is cheaper than many other metro areas, due to affordable housing costs.
Getting ready to retire:How to plan for an early retirement
- Metro Population − 426,967
- Median Home Price − $210,816
- Median Monthly Rent − $985
- Median Age − 40 years old
- Average Annual Salary − $51,680
- Unemployment Rate − 10.2%
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