After working hard for decades, having a high-quality retirement life is the aspiration of many people. If you are looking for such a life in the United States, the personal finance website WalletHub has ranked the best retirement destinations based on quality of life, providing useful reference information for you.
According to CNBC, in order to help Americans plan for a high-quality retirement life, WalletHub ranked the quality of life in 182 densely populated cities in the United States based on various indicators. These measuring indicators include the proportion of population aged 65 and older, weather conditions, violent crime rates, activities suitable for the elderly, and walkability.
To compile this ranking, WalletHub analyzed data from multiple sources, including the Tax Foundation, the Council for Community and Economic Research, and the U.S. Census Bureau.
According to WalletHub’s analysis, Hawaii has the top two retirement destinations in the United States in terms of quality of life. Pearl City in Hawaii ranked first, followed closely by Honolulu ranking second.
According to U.S. Census data, Pearl City has a population of 45,295, with over 25% of residents aged 65 and older.
The significant characteristics of Hawaii’s climate include mild temperatures throughout the year and moderate humidity, making it an ideal climate for retirees who enjoy outdoor activities. Hawaii also boasts abundant natural landscapes, including white sandy beaches and clear waters, making it a world-renowned tourist destination. The state is also known as the “Hospitality State.”
WalletHub analyst Chip Lupo told CNBC Make It, “The quality of life indicators focus on aspects such as the proportion of elderly residents, elderly poverty rate, community support, and environmental conditions. These indicators together help determine which cities can provide a supportive and enriching environment for retirees.”
Here are the top ten U.S. cities selected by WalletHub that provide the highest quality of life for retirees:
1. Pearl City, Hawaii
2. Honolulu, Hawaii
3. Scottsdale, Arizona
4. Columbia, Maryland
5. Fremont, California
6. Glendale, California
7. Madison, Wisconsin
8. San Jose, California
9. Lexington-Fayette, Kentucky
10. San Diego, California
Despite the high quality of life, housing prices in Hawaii are not cheap. According to Realtor.com data, the median listing price for homes in Pearl City is $795,000, with a median selling price of $1.1 million.
Rental prices are also expensive. According to Zillow data as of September 10, the median monthly rent for a one-bedroom apartment in Pearl City is $1,856, which is about 16% higher than the national median.
However, for retirees who can afford these costs, they may find a large community of people their age here. According to WalletHub’s analysis, Pearl City and Scottsdale, Arizona are tied for having the highest proportion of residents aged 65 and older.
WalletHub also released a ranking on September 3 of cities that are overall most suitable for retirees, with one of the important factors considered being affordability. Orlando and Miami in the Sunshine State of Florida topped the list. However, in terms of quality of life ranking, no city in Florida made it to the top ten.