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- US News & World Report released its 2019 ranking of the best places to retire in America, and housing affordability was one of the primary determinants.
- We filtered US News' ranking to narrow down the list to the cities where a typical home costs less than $250,000.
- Lancaster, Pennsylvania, came out on top and four other cities in the state appear in the top 20.
Turns out, Pennsylvania is a fabulous — and affordable — place to retire.
That's according to US News & World Report's 2019 ranking of the best places to retire in America. To determine its overall ranking, US News evaluated the 100 largest US metros on six metrics: housing affordability, happiness, desirability, retiree taxes, job market, and healthcare quality. You can read the detailed methodology here.
We filtered the US News list to find the cities where retirees can buy a home for under $250,000 and find a rental under $1,600 a month — that's slightly below the national median asking price for a home and the national median rent, according to Zillow's latest estimates.
Lancaster, Pennsylvania, and Fort Myers, Florida, took the No. 1 and No. 2 spots, respectively, on the best places to retire ranking. They also appear in the top two spots when filtered by housing costs, but the list diverges from there. A total of five cities in Pennsylvania appear in the top 20.
Read more: What a $250,000 home looks like in the biggest city in every state
The housing affordability category was weighted 19.7%, second only to happiness, which was weighted 22.5%; these percentages were determined by a survey of Americans who were asked what the most important considerations are when moving.
To determine housing affordability, US News gathered US Census Bureau data on average annual costs for homeowners (mortgage, utilities, and taxes) and average annual costs for renters (rent and utilities).
Keep reading to find out the best places to live affordably in retirement.
19. Charlotte, North Carolina
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Median home price: $200,942
Median monthly rent: $893
Overall rank: 34
18. Philadelphia, Pennsylvania
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Median home price: $200,858
Median monthly rent: $1,040
Overall rank: 31
17. Harrisburg, Pennsylvania
Shutterstock/Jon Bilous
Median home price: $156,833
Median monthly rent: $873
Overall rank: 29
See the rest of the story at Business Insider
See Also:
- The 50 best places to retire in America for 2019, ranked
- Home values have more than doubled in the US since 1970 — here's how much they've increased in every state
- 7 of the smartest pieces of advice about saving money from early retirees in 2018
DON'T MISS: Home values have more than doubled in the US since 1970 — here's how much they've increased in every state
from Business Insider https://read.bi/2BN6Fql
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