Pennsylvania sweeps the top five as Harrisburg, PA, rises to No. 1 this year.
WASHINGTON, Nov. 7, 2023 /PRNewswire/ — U.S. News & World Report, the global authority in rankings and consumer advice, today unveiled the 2024 Best Places to Retire in the United States. This year’s list evaluated the country’s 150 most populous metropolitan areas based on how well they meet Americans’ expectations for retirement, with measures including Affordability, Health Care, Desirability, Retiree Taxes, Job Market and Overall Happiness. The results are three new places in the top five.
Pennsylvania dominated the top five in this year’s list and secured seven placements in the top 10. Harrisburg rose one spot to take the No. 1 rank due to its scores on health care for seniors, retiree tax rates and overall happiness of its residents. Reading moved up six positions to the No. 2 spot, and Lancaster fell from No. 1 last year to No. 3. Scranton saw the sole double-digit jump into the top five, rising 13 positions to No. 4, and Allentown climbed four positions to No. 5.
“Over the last year, Americans have observed record-high interest rates in the housing market, steadily increasing cost of goods and extreme weather patterns impacting the living conditions of our nation,” says Beverly Harzog, personal finance expert at U.S. News. “As retirees consider where to spend their golden years, they want areas that not only give them the best bang for their buck, but places where they can live a happy, healthy life. This is why Pennsylvania dominated the Best Places to Retire ranking’s top positions, taking seven of the top 10 spots on the list.”
Florida scored highly as a desirable place to retire, with six places appearing in the top 25. The 2024 ranking’s adjustments made for affordability and retiree taxes allowed Winston-Salem, North Carolina, to soar 19 spots to No. 17. Other notable top 25 increases include Trenton, New Jersey, which moved up 25 positions to No. 20, and Rochester, New York, which rose 29 positions to No. 21.
Affordability is the most heavily weighted of the six factors in the 2024 Best Places to Retire methodology, which also includes happiness, health care quality, retiree taxes, desirability and job market ratings. U.S. News expanded its data points in this edition to better encapsulate a place’s strengths and weaknesses. In addition to a survey to determine whether people want to retire in a given metro area, the Desirability Index now includes weather temperateness, which evaluates the number of days annually with moderate temperatures and minimal precipitation. It also includes an establishment-to-population ratio, which assesses the number of restaurants, bars and activities per 1,000 residents. The Affordability Index – which previously focused solely on housing affordability – now factors in price parity, a Bureau of Economic Analysis data point on the general cost of goods within an area.
The six measures factored into this year’s rankings were weighted based on a public survey of individuals across the U.S. who are at or approaching retirement age (45 and older) to find out what matters most to people when they’re considering where to retire. Data sources include the U.S. Census Bureau, FEMA National Risk Index, the Federal Bureau of Investigation, the Bureau of Labor Statistics, Sharecare and U.S. News’ Best Hospitals rankings.
Best Places to Retire is part of U.S. News’ expanding Real Estate section, which provides rankings, tools and advice to help individuals navigate the housing market, from finding the right neighborhood and home value estimate to working with an agent and buying and selling a home.
2024 U.S. News Best Places to Retire – Top 10
*See the full rankings here.
- Harrisburg, Pennsylvania
- Reading, Pennsylvania
- Lancaster, Pennsylvania
- Scranton, Pennsylvania
- Allentown, Pennsylvania
- New York City, New York
- York, Pennsylvania
- Daytona Beach, Florida
- Youngstown, Ohio
- Pittsburgh, Pennsylvania
About U.S. News & World Report
U.S. News & World Report is the global leader in quality rankings that empower consumers, business leaders and policy officials to make better, more informed decisions about important issues affecting their lives and communities. A multifaceted digital media company with Education, Health, Money, Travel, Cars, News, Real Estate, Careers and 360 Reviews platforms, U.S. News provides rankings, independent reporting, data journalism, consumer advice and U.S. News Live events. More than 40 million people visit USNews.com each month for research and guidance. Founded in 1933, U.S. News is headquartered in Washington, D.C.
SOURCE U.S. News & World Report, L.P.
Originally published at https://www.prnewswire.com/news-releases/us-news–world-report-unveils-the-2024-best-places-to-retire-rankings-301979717.html
Images courtesy of https://pixabay.com