Iowa City, Pittsfield, Massachusetts, and Fayetteville, Arkansas, have been named among the best places in the U.S. to retire on a budget.
This is revealed by a new study that ranks the 25 best places to enjoy retirement.
He Forbes The research examined more than 800 locations, specifically looking for the best places to pursue new or lifelong passions, regardless of cost.
The locations were ranked based on six areas of interest: golf, arts and culture, fine dining, lifelong learning, outdoor activities on the water and outdoor activities on land.
Since high housing or living costs were not a disqualifying factor, the ranking includes cities such as San Francisco and New York, which are among the most expensive in the United States.
But there are still plenty of cheaper places on the list, including four cities where both the average home price and cost of living are below the national average.
Iowa City, Pittsfield, Massachusetts, and Fayetteville, Arkansas, have been named among the best places in the U.S. to retire without spending a fortune (pictured: the Old Capitol Building at the University of Iowa)
Iowa City, Iowa, has some of the cheapest home prices on Forbes’ list.
The average property in the city costs $295,000, 30 percent less than the national median.
The cost of living in Iowa City is also 10 percent lower than the national average.
The traditional college town, which lies 115 miles east of the state capital, Des Moines, ranks among the most retiree-friendly cities because of its lifelong learning opportunities.
It is also a hub for arts and culture, has a low rate of serious crime and a high number of doctors.
“Significantly, all retirement income (including Social Security benefits, pensions, annuities and withdrawals from retirement accounts) is excluded from taxable income,” Forbes noted.
Pittsfield, Massachusetts, has the cheapest property prices on the list, making it a good choice for retirees on fixed incomes.
The median home price in this picturesque town is $282,000, 33 percent below the U.S. average.
The cost of living in Pittsfield, which is 135 miles west of Boston, is also 4 percent lower than the national norm.
The city also boasts a top-notch summer arts scene, according to Forbes, and has state parks, ski slopes and wildlife on its doorstep in the Berkshire Mountains.
The study narrowed down a list of more than 800 places by excluding all those with serious crime rates, poor air quality, lack of primary care or high climate change risks that could affect the prospects for a happy and healthy retirement.
After eliminating many places, he compared the ‘fun things’.
Fayetteville, Arkansas, makes the list for what it has to offer nature-loving retirees.
Pittsfield, Massachusetts, has the cheapest property prices on the list, making it a good choice for retirees on fixed incomes.
Walla Walla, Washington, is also among the cheapest places for Americans to enjoy their adult lives.
Fayetteville, Arkansas, made the list because of what it can offer nature-loving retirees (pictured: residents enjoy the Saturday morning farmers market in town)
It has numerous parks and waterways where residents can boat, hike and fish, as well as 21 massive golf courses.
The University of Arkansas, located in the city, also offers one of the best lifelong learning offerings in the country for seniors, with free tuition and fee waivers.
Fayetteville is also among the most affordable places on the list, with a cost of living that is 10 percent lower than the national average and a median home price that is 15 percent lower than the U.S. average of $359,000.
Forbes noted that there is no state estate or inheritance tax in Arkansas either.
Walla Walla, Washington, is also among the cheapest places for Americans to enjoy their adult lives.
“With more than 100 wineries nearby, this laid-back town 260 miles southeast of Seattle boasts a robust upscale dining scene,” Forbes said, as well as a diverse selection of hiking and biking trails.
Homes in the city are 2 percent cheaper than the typical U.S. property ($413,000) and the cost of living is 7 percent lower than the national average.
Dallas, Texas, also has a median home price of $392,000, 7 percent below the national average.
This, along with its arts and culture scene, excellent dining options and nearby golf courses, earned it a spot on the list.
While Traverse City, Michigan, has a typical home price slightly higher than the national average, the cost of living in the Midwestern city is 4 percent lower than the rest of the country.
It is also close to the famous Interlochen Center for the Arts, which hosts numerous musical performances.
“Overlooking an inlet of Lake Michigan, Traverse City has water sports, more than 30 golf courses in the area and a reputation as a world-class foodie town,” Forbes added.
Oregon is the state with the most cities on the list: Ashland, Bend and Eugene are among the most retiree-friendly places.
Meanwhile, Sarasota, Florida, was the only city in the Sunshine State to make the list.
This was largely due to the risk of climate change in the state, Forbes said.