If you are wanting to retire early, then the biggest task is to save as much money as you can. The most critical step to do that is to keep your living expenses down.
You will want to live someplace that is financially beneficial for you. Some of the most important things to look for are low taxes, affordable homes, and a higher income. This will ensure that you as a retiree will be able to financial independence. Also, low living costs will enable your savings to last longer.
With taking all that into mind, Realtor.com has ranked US cities on the friendliness for early retirees. It is kind of surprising that a lot of cities are in the Midwest and the South. This is due to their tax incentives, affordable living, and job opportunities.
We do not want you to have to wait any longer, here are the Top 10 Cities that are the best for early retirement. Included also are the job percentage, median home prices, and people already near early retirement, according to the Census Bureau.
10. Colorado Springs, Colorado
Colorado Springs is an up-and-coming city for early retirees. It offers many job opportunities for early retirees. Home are relatively affordable and has a large population of young people.
Percentage of Population: 35-44: 17%
Percentage of High-Paying Jobs: 22.5%
Median Home Price: $315,000
9. Palm Bay, Florida
Are you looking for sandy beaches and water? No look no further than this Floridian coastal city. One of the greatest benefits of this Florida city is the income tax break.
Percentage of Population: 35-44: 16.6%
Percentage of High-Paying Jobs: 23.2%
Median Home Price: $220,000
8. Pittsburgh, Pennsylvania
Steel City! Home of the Steelers and Penguins. An amazing sports city with die hard fans. An affordable northeastern state. Many homes in the city are currently selling for less than $200,000.
Percentage of Population: 35-44: 17.2%
Percentage of High-Paying Jobs: 23.2%
Median Home Price: $175,900
7. Winston-Salem, North Carolina
No this is not the Salem where witches once were tried. This beautiful city will a lot of nature and gorgeous surroundings is home to a number of people around the same age. It is also has very affordable livings.
Percentage of Population: 35-44: 17.4%
Percentage of High-Paying Jobs: 19%
Median Home Price: $178,000
6. Beaumont, Texas
Take a stroll through an early 1900s recreated town during the oil boom in Texas. Home to many interesting museums such as the McFaddin-Ward House, Dishman Art museum, and The Art Museum of Southeast Texas. Life overall in this town is fairly inexpensive.
Percentage of Population: 35-44: 15.6%
Percentage of High-Paying Jobs: 16.5%
Median Home Price: $163,000
5. Indianapolis, Indiana
Also known as Indy, where the Indy 500 is raced, is the most-populous city in Indiana. It is also the state capital. Life is very affordable in this Midwestern city. Easy to buy a home and to meet people that are in the age range of early retirement.
Percentage of Population: 35-44: 16.2%
Percentage of High-Paying Jobs: 22.3%
Median Home Price: $209,000
4. Peoria, Illinois
This beautiful Midwestern city is located on the Illinois river and has many forest trails where you can see bison, cougars, and bears. Yes, who would have thought that you would be able to see a bear in Illinois. Life in Peoria, IL, is very affordable with plenty of entertainment and nature around you.
Percentage of Population: 35-44: 15.3%
Percentage of High-Paying Jobs: 21.7%
Median Home Price: $135,000
3. Dayton, Ohio
Home to the National Museum of the U.S. Air Force, which has a vast collection or military aircraft, aircraft from the early 1900s, and an excellent space shuttle exhibit. Located just northeast of Cincinnati, Ohio, this city has a unique downtown and plenty of space for early retirees. It is very affordable as well.
Percentage of Population: 35-44: 15.2%
Percentage of High-Paying Jobs: 21.5%
Median Home Price: $146,000
2. Knoxville, Tennessee
A city located on the majestic Tennessee River, and home to 19th century buildings in the Market Square District that is bustling with shops and restaurants. Also, home of James White’s Fort, built by a Revolutionary War captain, that was constructed in 1786, which makes it the first permanent building in Knoxville. Another benefit of Knoxville is that your money will not be subject to income tax, making your savings last longer.
Percentage of Population: 35-44: 16.7%
Percentage of High-Paying Jobs: 19.3%
Median Home Price: $192,500
1. Huntsville, Alabama
This beautiful city located in the Appalachian region of northern Alabama, is home to many government facilities like NASA’s Marshall Space Flight Center and the United States Army Aviation and Missile Command. The fourth largest city in Alabama, which has many high-paying jobs, and is a great place for early retirees to start their journey.
Percentage of Population 35-44: 17.5%
Percentage of High-Paying Jobs: 28.1%
Median Home Price: $202,900