This is the No. 1 Trending City for Retirement in the U.S. — and It’s Not in Florida: Report

Florida cities like Boca Raton and Tampa; or southwestern destinations such as Phoenix, Arizona, are consistently popular spots for retirees. But a new study shows that older Americans are expanding their horizons when it comes to where they will spend their golden years.

Austin, Texas is currently no. One city on the rise for boomer-age retirees, according to a Moody’s Analytics report. In fact, its population of adults aged 65 and over doubled between 2010 and 2020.

Why Austin? The affordable cost of living in the city, combined with an influx of young people moving to the Texas capital, has also brought an aging population, which has increased the population altogether.

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Behind Austin, nine other cities are gaining popularity among the retirement-age population for similar reasons — including: Boise, Idaho, Raleigh-Durham, NC; Atlanta, Ga.; Houston, Texas; Charleston, SC; Jacksonville, Florida; Dallas, Texas; Colorado Springs, Colorado; and Washington, DC Each city’s total population—and especially its elderly population—increased 50 percent faster than the national average.

“It was interesting to me how geographically dispersed the list was,” associate economist Nick Luettke told Moody’s Analytics MarketWatch. “Growth has spread to different parts of the country, beyond traditional retirement locations.”

Some more traditional hotspots, like Florida, still attract many retirees, but haven’t seen the recent explosive growth of those cities.

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And retirees are increasingly moving outside the US.

PEOPLE reported that a new study by the organization Moving to Spain found that Portugal is the number one European country for retirement, followed by Spain and Italy.

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However, those who don’t end up retiring in any of these American cities or European countries can opt to retire on the water, like Jess and Marty Ansen. PEOPLE recently reported that instead of moving to a retirement community, the Australian couple decided to book 51 consecutive cruises where they would be on board for about two years.

They told PEOPLE in an exclusive statement that they feel it’s the most profitable way to spend their time.

“The cruise lifestyle is very efficient,” the Ansens said in a statement via Princess Cruises. “You don’t have to worry about paying rent or a mortgage, getting groceries or doing laundry.”

“We are not young people,” they added. “Cruising is a lot cheaper than going to a nursing home and means we can continue to travel the world.”

Categories: Trends
Source: HIS Education