Living Well in Retirement

5 Great Cities for Retirees

June 2010

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By Caitlin Dewey

Striking a balance between a high quality of life and low cost of living can be a difficult challenge for retirees. With that in mind, we offer five destinations that seniors might find attractive places to live in the second half of their lives.

Related Links

• SLIDE SHOW: See the 5 Great Cities for Retirees, at a Glance
• SLIDE SHOW: 8 Great Places to Retire You Never Considered
• MAP: Retiree Tax Heavens (and Hells)
• GUIDE: Best Cities for Your Future
• TOOL: Find the Best City for You
• SORTABLE RANKINGS: See How Your City Stacks Up

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SLIDE SHOW: See the 5 Great Cities for Retirees, at a Glance

We started our search for top retirement destinations using the criteria we used to select our overall list of Best Cities for the Next Decade. What more are seniors looking for? Retiree-friendly factors such as a high number of doctors and large percentages of populations over 65 helped to drive a unique list of 20 growing cities.

Then we dug deeper into issues most critical to retirees, including state tax rates and exemptions for various types of retirement income, low crime rates, access to airports, local transportation, and access to leisure activities, from libraries and theaters to hiking and golf. Take a look — and tell us what you think is the best place for you to retire.

Charlottesville, Va.

City Population: 41,225
Metro Population: 196,766
Cost-of-Living Index: 107.5 (national average = 100)
Median Household Income: $56,833
Income-Tax Exemptions: No state tax on Social Security benefits; income deductions of up to $12,000 for residents 65 and older, subject to income-eligibility limits
Proximity to Airport: Charlottesville-Albemarle Airport (10 miles from downtown)

Home of Thomas Jefferson and the University of Virginia, Charlottesville is a charming Southern city with an impressive array of cultural draws. Several prime art museums and a pedestrian mall can be found in the city’s neo-Classical downtown, while the Monticello Wine Trail and Shenandoah National Park are close by. It's also two hours from Washington, D.C.

PROS: Mild climate, proximity to golf courses, parks and wineries, active art and theater scenes, developed downtown district
CONS: Above-average cost of living and moderate tax breaks, mid-sized public transit system