Top 10 Cities To Retire In Massachusetts
- Percentage of the Population Over 65: 12.6%
- Median Home Value: $156,200
- Most Recent Annual Number of Violent Crimes: 1,404
- Most Recent Annual Number of Property Crimes: 4,070
- Number of Hospitals Within 25 Miles of the City: 12
Retirees can enjoy a wide range of fun in Springfield. Home to Six Flags New England and the Dr. Seuss National Memorial Sculpture Garden, you can have fun with your grandkids, or prove that youre young at heart. If you like swimming, hiking, or boating, then Lake Lorraine State Park is the perfect place for you.
Take A Trip To Find The Best Place To Retire
If many different locations appeal to you, get out and see them. Starting years before retirement, visit five or six places. Once you have narrowed down your choices to three or fewer, spend a few weeks in each location to carefully weigh the pros and cons of day-to-day living.
Don’t spend all of your time near the hotelinstead, get out and visit neighborhoods to get a sense of the people and the overall community engagement. Most importantly, do not base a decision on average home prices found on the web, which might be inaccurate. Meet with realtors in the area to get a sense of actual home prices, and find someone committed to helping you find the right place.
Coordinated Day Trips To The Ocean And The Exquisite White Mountains
If youre from Massachusetts, you wont be moving too far away from the ocean. In fact, our active living communities are only an hour east of the Atlantic Ocean. Our program coordinator regularly plans trips with transportation included, so you can enjoy a walk on the beach with all of your new friends.
Do you like to hike? The White Mountain region is to the north of us where you can enjoy a fun-filled day of hiking with breathtaking scenic views. For a closer hike, you can go right in the middle of town to Mine Falls Park. Mine Falls Park is perfect for an easy morning stroll or an afternoon picnic and is easily accessible via public transportation.
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Know Your Taxes In Retirement
Also factor in taxation when deciding where to live later in life. There are three key aspects of taxation consider in retirement:
- State taxes: Currently, several statesAlaska, Florida, Nevada, South Dakota, Texas, Tennessee, Washington, and Wyomingdo not have personal state income taxes.
- Taxes on retirement income: Four statesHawaii, Illinois, Mississippi, and Pennsylvaniaexempt all or most retirement income from taxable income. Twenty-seven states tax some, but not all, retirement and pension income. Ohio, Oregon, and Utah provide a tax credit for these types of income.
- Taxes on dividend income: New Hampshire taxes dividend and interest income.
Keep in mind: A state with lower tax rates in any of the above categories doesn’t necessarily make it cheaper to live in. That depends on other taxes that apply. For example, choosing an area with a smaller tax break but a lower cost of living or lower property taxes may actually save you money.
Focus on life planning over tax planning. If you don’t like where or how you’re spending your days, low taxes won’t necessarily make you happy. Depending on other financial data points of the location, low taxes might not save you much money, either.
For Low Property Taxes
Real estate taxes on Dennis are lower than most of the other Cape Cod towns and rather significantly at that! For affordable living that is relatively close to the epicenter of the Cape, Dennis is one of the best places to live. Various cultural programs exist in Dennis and the area is relatively set back from the major tourism central zones which mean that prices tend to be more affordable than they are a short drive away in Hyannis.
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The 10 Best Places To Retire In Massachusetts In 2021
The East Coast has a major appeal as a retirement destination. Massachusetts serves up beautiful views of the Atlantic Ocean, historic charm, and a funky culture, perfect for retirees who want to try new things and make the most of their newfound freedom.
NewHomeSource found the top 10 cities to retire in Massachusetts. Find the perfect city for your ideal lifestyle, and find the perfect new home, designed for a comfortable and convenient.
What Is The Least Expensive Town On Cape Cod
The cost of living in places like Hyannis and Eastham is significantly less than cities like New Yorkwhile New Yorks cost is 80% above the national average, these towns costs are 9-11% above the national average.
While the cost of living in Cape Cod is above the national average, in areas like Hyannis or Eastham, the cost of living is only 9-11% higher than the national cost of living.
Lets look at the breakdown for one of these towns against New York and Los Angeles:
As you can see from this graph, the energy and food costs in Eastham are significantly lower than in LA, with food going approximately 20% below the average.
As for New York, New Yorks housing prices are out the roof at 50% above average, while Easthams might be 2-3% above average. Overall, LAs cost is 40%, and New Yorks is 80% above the national average compared to a mere 9% for Eastham:
Other towns compared to New York and LA also have much lower costs of living .
You should get in touch with a realtor for more information regarding rental laws and the taxes of the towns youre interested in. Since tax rates keep changing and prices fluctuate, this will give you a better picture of managing your finances.
There are pretty cheap options available in the town of Dennis, starting at $51/sq ft for a 2-bedroom house.
Other towns like Yarmouth Port have housing available under $95/sq ft for 2 beds, 2 bathhouses. Towns like Hyannis and Mashpee also have living options like $222/sq ft and $300/sq ft .
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Scenic And Cultural Attractions
For retirees looking to spend time outdoors, the Cape features iconic sandy beaches, forested nature preserves, serene gardens, great walking, biking trails, and plenty of boating options in both fresh and saltwater. Consider a stroll on the trails at Sandy Neck Beach, a bike ride on the Shining Sea Bikeway, or a stop at the Spohr or Heritage Gardens.
Those looking to learn more about the Capes past will love the historic sites and museums covering a wide range of topics that dot the peninsula. Be sure to visit the Cape Cod Museum of Natural History, John F. Kennedy Hyannis Museum, and Cape Cod Maritime Museum. You also wont want to miss all the historic lighthouses that can be found standing sentinel on the Capes shores.
Those interested in the arts will fall in love with the Capes many art museums, galleries, theatres, and performing arts centers. Theres lots going on in the art scene on Cape Cod and plenty of opportunities for aspiring artists to get involved. Take a class at the Cotuit Center for the Arts, visit the Cape Cod Art Museum, or enjoy a tour of the artists dune shacks in Provincetown.
Diverse And Rich Culture
The only thing more diverse than the topography in Massachusetts is its cultural opportunities. Home to Tanglewood Music Festival, Jacobs Pillow Dance Festival the Williamstown Theatre Festival, and several museums in Boston, Massachusetts is a mecca of culture. No matter if you love film, music, or history, there is something for you in the Bay State.
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The 10 Cheapest Places To Live In Massachusetts For 2021
We used data and science to determine which places in Massachusetts go easy on your wallet.
We know its hard to believe to most North Easterners, but there is more to life than the New England Patriots and the Red Sox, folks. Theres the need and want for affordable living and Massachusetts has just that.
The Bay State wants you to call one of its many affordable cities home.
Massachusetts has a boatload of wicked affordable cities. Hip millennial cities like Boston and Cambridge have multiple opportunities for young professionals to pad their bank accounts. Cities like Salem and Provincetown provide inexpensive staycations. And if you bang a left, you can find safe, affordable, family-oriented cities like Newton and Melrose.
What Massachusetts lacks in size, they sure make up in millionaires. They have the sixth largest number of millionaires per capita in the United States. And with a statewide median income close to $68,000/year, who wouldnt want to get their hands on all that cheddah.
If you want to live the American dream without a hefty Beantown price tag, look beyond Boston. More importantly, dont fret. Weve done the work for you. Take a look below at our top affordable cities in Massachusetts list for 2021. Grab some lobstah chowdah, a regular coffee, find a quiet spot at the Cape, and read on. We promise it will be wicked cool.
Continuing Care Retirement Communities
Continuing Care Retirement Communities combine housing options on one campus. Housing options include:
- Townhouses or cottages for independent living
- Assisted living apartments
- Nursing home accommodations for elders who need more comprehensive care
As the health needs of a resident changes, the resident will have access to different housing and services on the campus. Services may include:
- Nursing and other health-care services
- Meals, usually in a community dining area
- 24 hour security
- Building and grounds maintenance
The package of services vary by facility. The cost of these services involves a monthly fee. It is important to be clear about which services are included in the monthly fee and which are extra. Most CCRCs require an entrance fee that is usually like the cost of purchasing a house in that town. Part of the entrance fee may be refundable depending on the structure of the contract with the CCRC.
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Affordable Cost Of Living Makes Security In Retirement A Reality
Unlike Massachusetts, New Hampshire doesnt have income or sales taxes. In addition to these tax breaks, Nashua consistently ranks as one of the most affordable cities to live in. With a convenient public transit system, you can save money by not having to own and maintain your own car and rent is on-average far cheaper than Massachusetts.
Plan Well To Live Better In Your Retirement
Ultimately, the choice is yours. Finding the right situation means knowing exactly what you’re looking for, then making sure it matches your retirement budget. We hope this guide was helpful in getting you halfway there.
And of course, we’d love to help! At 55places, you can find 55+ communities for your needs from across the country. Start your search to see which of these options might be in your budget.
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Primary And Secondary Costs Of Buying A Traditional Home
The typical home-owning American pays between $1,000 and $2,000 a month, depending on the state in which they live. That includes property taxes and mortgage insurance. But some secondary monthly expenses will be separate. They tend to be similar to renting an apartment, but with the costs slightly higher:
- Electricity: typically between $100 and $200 per month.
- Water: between $40 and $150 per month
- Gas: between $40 and $130 per month
- Internet and/or TV cable and streaming: between $100 and $200 per month.
Keep in mind to build a budget for potential unexpected expenses, as well. You never know when the water tank breaks, or your A/C unit needs a recharge. And of course, the costs don’t necessarily end there, especially if you pay for lawn care or house cleaning on a monthly basis.
Experts: How To Pick Your Best State To Retire
Considering a retirement move? Heres advice from experts who help retirees and soon-to-be-retired workers through the decision:
Laura Kovacs, assistant executive officer and director of education at the Scottsdale Area Association of Realtors in Arizona:Spend some time in places where you want to live before you commit to moving there. Go to a variety of different places that you seem to be attracted to places that have a lower cost of living and lower property taxes and test them out for a while. If youre interested in Florida or Arizona or California, stay there for a while and see if you like the climate at the time of year youre going to be living there. Make sure its really as affordable as you thought. When youre still working, take some time to go preview different types of communities and different types of lifestyles. And when youve retired, maybe try renting for a while before you commit to buying.
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Centrally Located In An Amazing City
In 2017, Nashua was ranked as one of the Best Places To Live by Money magazine. Our dynamic campuses are supported by a wonderful city that offers a lively downtown, well-manicured public parks, and an efficient public transport system.
Looking for the best active retirement communities near ma, no worries, we are a short drive from just about all points in Massachusetts!
Both The Hunt Community and The Huntington at Nashua are located within walking distance to bus stops where the bus will take you downtown. If youre without a car, its an easy way to maintain independence with transportation thats readily available for you.
If youre looking for an adventure outside of the city, Boston is only an hour away. And for an all-day outdoor excursion, you can spend the day on the shores of the Atlantic Ocean, which is only an hour east.
Our Communities Provide Close Proximity To The Beautiful City Of Boston
Day trips to Boston are a breeze when youre only one hour south from the city. Our location offers you the best of both worlds in a setting thats more peaceful than Boston, but easily accessible to the big city. If youre in the mood to visit Bean Town, its only a bus ride away. Our program coordinator also regularly plans trips. All you have to do is sign up and youll have your transportation planned out with other residents of our communities.
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Financial Planning For Retirement In Massachusetts
Now that Massachusetts is on your retirement destination list, what next? To understand the cost of retirement in Massachusetts, you will need to understand your current budget. Determine how much you spend each month on items that you may not have to once you move to a community because so much of senior living is all-inclusive. Consider how much is spent monthly on food, utilities, healthcare, house maintenance, and homeownership costs. Once you have a good understanding of how much it costs to live on your own, you will have a more comprehensive understanding of the cost of senior living.
You will also want to think through what is included at the Massachusetts retirement community you are considering. Many of our Massachusetts communities include a wide range of amenities including:
- Regular housekeeping and linen services
- True restaurant dining, with made to order meals
- Engaging activities and social events
- Home maintenance and yard work
- Gym memberships and fitness classes through PrimeFit
- Language lessons
Small Town Familiarity And Big
Vibrant Main Streets, eclectic boutiques, and local restaurants define small-town Massachusetts. The small-town charm of the state is perfectly balanced with the thriving city life of Boston. Often called the Hub of the Universe, Boston is one of the best places to live in the country. Boasting museums, ethnic restaurants, and theater productions, Boston is a melton pot of culture, attracting people of all ages from all over the world.
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Recreation Culture & Entertainment
Massachusetts is rich in history and heritage and is proud of its culture and influences toward the establishment and growth of America. Pulling from its Native American and Yankee roots, it was the home to numerous notable religious, literary, cultural, and political leaders of America throughout the centuries.
Massachusetts takes great pride in its culture and has an abundance of museums and historical sites. Some of the popular ones active adults enjoy include Museum of African American History, Museum of Russian Icons, Worchester African Culture Center, Gallery of African Art, Boston Museum of Fine Arts, Springfield Armory National Historic site, Freedom Trail and Minute Man National Historical Park. Plymouth Plantation and Old Sturbridge Village are two museums that recreate life as it was in the 17th and early 19th centuries. Massachusetts s active adults who consider themselves to be history buffs will enjoy any one of these historical sites.
Active adult residents love that Massachusetts is also a key region for performing arts with both the Boston Symphony Orchestra and Boston Pops Orchestra. Other performing arts and theater organizations include the Cape Cod Symphony Orchestra, Springfield Symphony Orchestra, Tanglewood Music Festival, Boston Ballet, and Boston Lyric Opera. There were also a number of musicians and bands that were produced in Massachusetts such as The Modern Lovers, New Wave Band, The Cars, and Pixies.
The 20 Most Affordable Places To Live In Massachusetts
Massachusetts is an expensive place to live in most parts, but there are some cities and suburbs that offer a more reasonable cost of living. Places like Boston and Cambridge may cost an arm and a leg, but there are outlying areas that are just as affordable as many of the other cities in the US that offer a lower price for homes, rentals, groceries, and utilities. Affordability is also determined by the income to rental/home price ratio for the area. Here are the 20 most affordable places to live in Massachusetts for your consideration.
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