The ideal American small town to retire to is probably unknown to most people. But with a relatively low average monthly cost of living, low crime rate, and other features that make it highly livable, Camp Hill in Cumberland County, Pennsylvania, may be the best small town in America for retirees.
This is according to a report by GoBankingRates.com, which looked at small towns with populations between 1,000 and 10,000 as ideal retirement locations. In addition to the total number of households and median household income for each city, the researchers also looked at average rents and cost of living, as well as crime rates and “livability,” taking into account area amenities, housing opportunities, transportation services, and more. “Data also received.
In the report’s list of the 44 best small towns to retire in, Camp Hill receives the highest livability rating and overall score. Northville, Michigan ranked second, followed by Fort Mitchell, Kentucky in third. Freeport, Maine, ranks among the top four best places to retire, with livable locations earning high marks but costing more on a monthly basis and having a higher crime rate.
With a population of over 8,000 people and about 3,200 families with a median income of about $105,000, Camp Hill is also one of the more affordable places in the country. The report found that residents there can expect to spend about $3,360 per month on living costs, including rent and other expenses. By comparison, the average monthly cost of living in Kensington, California, a town of 5,300 people, is $8,000.
Other smaller cities offered similarly low monthly expenses but earned lower scores in the livability category.
Retirement at age 65 is out of reach for most Americans
Located two miles from the state capital Harrisburg, Camp Hill boasts a vibrant shopping scene made up of small businesses, the majority of which are women-owned, according to visitcumberlandvalley.com. This award winner is Cleve J. It is also home to the Frederickson Library. A weekday farmers market runs from May to October.
Of course, not all Americans can afford to retire as early as they had hoped, as the share of workers who remain employed or attempt to remain employed past age 65 is increasing. out of necessity, About 27% of people who are 59 or older Not there. According to a survey by financial services firm Credit Karma, any money saved for retirement.
only 10% In her book “Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy,” labor economist and retirement expert Theresa Ghilarducci shows that Americans between the ages of 62 and 70 are both retired and financially stable. The rest are either retired and living less comfortably than before, or are still working out of financial necessity.
You can see GoBankingRate.com’s full list of the 44 best small cities in the country to retire here.
