The number-one rule in real estate is location, location, location, but that means different things to different people. For young families, the most desirable location is typically a neighborhood that's near good schools and kid-friendly parks and (ideally) isn't far from work. Retirees have different criteria. Their perfect destination is more likely to offer good health care facilities, be close to family and friends, and have a reasonable cost of living-particularly when it comes to home prices.
That last item is a tall order these days, with home prices up nearly 16% in the first quarter of 2022 compared with a year ago. While rising mortgage rates have slowed sales somewhat, a paltry inventory of homes for sale is likely to keep prices elevated for the foreseeable future.
But again, it's all about location. In some parts of the country, home prices are well below the national median of $368,200-a nice bonus for seniors who are downsizing from a high-cost part of the country. And moving to a lower-cost area doesn't mean giving up a great quality of life. Our seven cities offer access to high-quality health care, abundant outdoor activities, and lively downtowns. Three are college towns, which means that when you're not exploring local hiking and biking trails (or skiing, because not everyone hates winter), you'll have plenty of opportunities to keep your mind sharp, too.
VISALIA, CA
Population: 133,100
Cost of living: 100.7
Median home price: $380,000
Hospitals within 25 miles: Five
Esta historia es de la edición August 2022 de Kiplinger's Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición August 2022 de Kiplinger's Personal Finance.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
GUARD AGAINST IDENTITY THEFT IN THE NEW YEAR
Scammers are getting better at impersonating legitimate businesses.
SHOULD YOU BUY PET HEALTH INSURANCE?
You can fend off big veterinary bills with a policy that covers your furry companion.
THE LOWDOWN ON BUYING A VACATION HOME
If you return to a beloved destination again and again, purchasing a home there may be a smart move-but don't overlook the costs and effort that go into it.
My Top 10 Stock Picks for 2025
SINCE 1993, I have offered an annual list of 10 stocks with the potential to beat the market in the 12 months ahead. My 2024 selections notched the highest return ever: an average of 48.9%. I beat the S&P 500 index by 10.8 percentage points, and every one of my stocks was up-six by more than 30%.
WHAT MAKES AN ETF SUCCESSFUL?
EXCHANGE-traded funds have exploded in popularity, with the industry now reaching the milestone of $10 trillion in assets.
TIPS FROM INSIDERS
When corporate insiders buy or sell, it can offer clues on whether you should do the same.
CHOOSE THE BEST FUNDS IN YOUR 401(k)
Our guide can help you make the most of your workplace retirement plan.
ANOTHER GOOD YEAR FOR STOCKS
With the economy growing and the Federal Reserve easing, there's a lot to like about this market.
WHAT YOU SHOULD KNOW ABOUT SPOUSAL IRAS
You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.