Retirement is a time to relax and unwind. However, the rising cost of living and financial uncertainties can make it challenging to fully embrace this next chapter.
This article looks at the 5 best places to retire in the US in 2024. You may check out our detailed analysis by jumping to the 17 Best Places to Retire in the US in 2024.
5. Florence, Alabama
Insider Monkey Score: 20
IM Cost of Living Index: 83
Livability Score: 81
Retirees on a fixed income can consider retiring to Florence, Alabama. This retirement destination offers a cost of living more than 15% lower than the national average. Besides its affordability, Florence appeals to retirees with its warm hospitality, rich history, and abundant attractions. The nearby scenic outdoors, including the Tennessee River and local parks, provide ample opportunities for outdoor recreation.
4. Ann Arbor, Michigan
Insider Monkey Score: 21
IM Cost of Living Index: 105.5
Livability Score: 89
The bustling university town of Ann Arbor, also known as Tree City, is brimming with lively sporting events, excellent medical facilities, and safe neighborhoods. Its charming downtown offers unique shops, diverse dining options, and local farmers’ markets. Ann Arbor also boasts beautiful parks, trails, and the Huron River, providing ample outdoor recreational opportunities.
3. Youngstown, Ohio
Insider Monkey Score: 24
IM Cost of Living Index: 74.4
Livability Score: 80
For the retiree looking for the best bang for their buck without compromising on quality of life, Youngstown is the best place to be. Affordability, historical charm, and a strong sense of community make it one of the best places to retire in the US.
2. Fort Wayne, Indiana
Insider Monkey Score: 27
IM Cost of Living Index: 82
Livability Score: 83
The small-town feel, affordable cost of living, and high quality of life make Fort Wayne in Indiana another enticing option to consider for seniors. There are lots of friendly attractions to explore, fun festivals and events, and outdoor activities to keep busy year-round. Living expenses in Fort Wayne are 18% lower than the national average.
1. Sioux Falls, South Dakota
Insider Monkey Score: 29
IM Cost of Living Index: 90.7
Livability Score: 84
Topping our list of best places to retire in the US in 2024 is Sioux Falls, South Dakota. This city happens to be in the state that has been ranked the best state to retire in the US by Insider Monkey. It is known to be one of the safest and most affordable places to spend one’s golden years. It’s also a vibrant mix of entertainment, food, culture, shopping, and adventure.
Besides its budget-friendly lifestyle, retirees will love Sioux Falls for its picturesque parks, including the stunning Falls Park which features beautiful waterfalls and walking trails. It’s further enriched by its vibrant cultural scene, characterized by a variety of museums, theaters, and local events. Then there’s its strong healthcare system and diverse dining and shopping options, tying it all together to bring a complete retirement package.
Check out our complete analysis and more of the best places to retire here: 17 Best Places to Retire in the US in 2024.
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