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If you’re looking for the cheapest place to retire in the USA, Birmingham, Alabama is the place for you. Besides being a cheap place to live, this city is also one of the safest. Also, if you’re looking for a low-tax state, West Virginia has you covered. It’s a great place for retirees with low property taxes and a low cost of living.
Birmingham is the least expensive place to retire in the United States
With the average cost of living in Birmingham, Alabama being just over $33,000 per year, this southern city is a great place to retire on a tight budget. Living expenses are also considerably lower than those of many large cities. Residents of Birmingham spend just $4,915 per year on healthcare, which is nearly 27 percent less than the national average.
Residents of Birmingham will also find affordable housing options. Birmingham’s housing market is varied, ranging from modest starter homes to multimillion dollar homes.
Myrtle Beach is one of the safest places
If you’re looking for a safe and low-cost coastal community, Myrtle Beach, South Carolina is a great option. The city offers more than 100 golf courses, numerous shopping destinations, and a theater that frequently hosts big-name stars. The area also has several medical facilities. Myrtle Beach is one of the most popular places to retire in the United States, and it’s easy to see why. The city’s low property taxes and low cost of living make it an affordable choice.
Many of the top places for retirees on the East Coast have low property taxes and walkability, as well as plenty of recreation opportunities. Other cities that offer great retirement communities include Tampa, Florida, which has some of the best weather in the nation and a large retiree community. Moving and selling a home, as well as buying a new home, can be an expensive proposition.
Des Moines is the safest place
While Des Moines may not have a world-class reputation as a place to retire, it does offer a great quality of life. The city has a low crime rate, is easy to travel in, and encourages walking. It also offers an active social life, which can improve your health and happiness.
A recent study by U.S. News & World Report showed that Des Moines ranks 16th out of 100 U.S. cities for its safety and health. While it did not top the list for being the safest place to retire, it did come in above cities like Sarasota, Fla. The list takes several factors into account, including affordable housing, a good quality of life, job market, and healthcare. Other cities that made the list include El Paso, Texas, and Grand Rapids, Mich.
West Virginia is a low-tax state
West Virginia has low property taxes and sales taxes, making it an affordable place to retire. In addition, the state only taxes Social Security retirement benefits at 3% to 6.5%, and other types of retirement income are deductible up to $8,000 per person. The low state tax rate is a huge benefit to seniors, who might otherwise face high tax bills elsewhere.
The state also benefits from low income taxes. Social Security benefits are exempt from state income taxes, and in some cases, they are entirely exempt. In addition, federal retirement plans, military pensions, and Railroad Retirement benefits are all fully tax-exempt. In addition, taxpayers can deduct up to $8,000 in other income every year, and married couples can deduct up to $42,000.
Greenville is a good compromise between big-city living and suburban living
Greenville is known for its lively downtown area, which offers a variety of entertainment options. The city has invested in revitalizing its downtown, which is walkable and features both residential and commercial space. The area is well-known for its outdoor plazas and restaurants.
The city is on the rise, with a thriving economy and growing job market. Home values are increasing faster than the cost of living, and the median price is $230,000, which is 9% higher than last year and 50% higher than five years ago. With low interest rates, home values should continue to rise over the next few years.
Fort Wayne is a good place to retire
Fort Wayne, Indiana is one of the best places in the country to retire, according to a Kiplinger report. Its low housing costs and moderate climate make it a good place for retirees. The city also boasts more than 80 parks and trails. A recent downtown revitalization has further added to the city’s appeal.
For retirees on a fixed income, the low cost of living and favorable tax climate make Fort Wayne a great option. This small city is considered one of the best places in the country to retire.