20 Safest Places To Retire in the US

In this article:

This article takes a look at the 20 safest places to retire in the US. If you wish to skip our detailed analysis on navigating retirement living in the US, you may go to 5 Safest Places To Retire in the US

Taking your Pick in the Retirement Location Mix

Retirement may be the end of the road, but it’s rarely all that it’s made up to be. For the average American retiree, their retirement years are riddled with financial struggles, health troubles, and often, a growing sense of loneliness. A study by the Pew Research Center found that 27% of Americans aged 60 and older live alone - 11% more than senior citizens in the 130 other countries that the research encapsulated. As for financial status, the latest United States Census reported that 10.3% of Americans aged 65 and older were living in poverty. With such dire circumstances, retirement is often about taking the best pick out of the options presented. 

Given the choice, any senior citizen would want to spend their Golden Years living in a place with a reasonable cost of living that is safe and has access to good healthcare. While such locations may be difficult to come by, they do exist. Better yet, US citizens can get a head start on retirement planning and give themselves a greater budget to work with. While the amount that you’re able to save for retirement depends on several factors - such as your income, the number of dependents you’re supporting, and your health, amongst others - it also has to do with how well you plan out your retirement. 

A recent study by the Milken Institute stated that the ideal age at which Americans should start saving for retirement is 25 or younger. While 25 may seem too early, the math behind this is of compounding investment - the earlier you start saving, the more time you’ll be able to give your savings to grow. A Charles Schwab Corporation (NYSE:SCHW) survey found that Americans think they need at least $1.8 million in savings for a comfortable retirement. With such a hefty amount on the savings list, the earlier you start, the better. Even if you’re not looking to amass the figure that has been attributed from the Charles Schwab Corporation (NYSE:SCHW) survey, America’s growing cost of living is reason enough to get a head start on retirement planning. 

Unfortunately, this isn’t always the case. According to the Milken Institute study, Baby Boomers started saving for retirement at the average age of 35, whereas Gen X began at 30. For senior citizens who are closing in on the retirement age without much in the bank, there is still hope. Many financial and investment management companies assist customers in financially securing their retirement and picks such as Mercer International Inc. (NASDAQ:MERC) and BlackRock, Inc.(NYSE:BLK) may be the answer to the financially unprepared. From portfolio management to custom financial plans, the likes of BlackRock, Inc.(NYSE:BLK) and Mercer International Inc. (NASDAQ:MERC) can help retirees plan better. 

Once financially better off, senior citizens can afford to be pickier with their retirement destination choices - opting for places that offer a good quality of life while also being cheap and giving good value for money. All in all, a financially stable retiree can afford to consider the best places to retire in the US

To facilitate present and future retirees contemplating a retirement move, we have compiled the following list of the 20 safest places to retire in the US.

20 Safest Places To Retire in the US
20 Safest Places To Retire in the US

holbox/Shutterstock.com

Methodology

To compile this list of the 20 safest places to retire in the US, we consulted several sources including The Travel, Comerica, GOBankingRates, and U.S. News & World ReportOnce a list of places was compiled using these sources, we then ranked them across multiple factors, namely, how safe they are, how they score in terms of health, their median figure for a one-bedroom rental, and their average monthly grocery bill for an individual. For this article, rental prices were taken from Zillow Group, Inc. (NASDAQ:Z) and Zumper, grocery figures were taken from the Economic Policy Institute, health scores were taken from WalletHub’s 2023 ranking of Healthiest & Unhealthiest Cities in America, and safety scores were taken from WalletHub’s 2023 ranking of Safest Cities in America. For the healthiest cities, WalletHub used four metrics - healthcare, food, fitness, and green space. For safest cities, WalletHub used three metrics - home and community safety, natural disaster risk, and financial safety. A cumulative score was then assigned to each city where a double weightage was given to the safety score. The 20 highest-scoring cities then made up our list of the 20 safest places to retire in the US.

For cities that gained an equal score, their safety scores were used as a tie-breaker. The resulting list is presented in ascending order, with the highest-ranked place being presented last.  It is important to remember that personal preference plays a big part. The best course of action is to visit the place you plan to move to, converse with locals, take advice from a financial consultant, and only then make your final decision. 

By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 

Here are the 20 safest places to retire in the US:

20. Washington, DC

Insider Monkey Score: 28

Safety Score: 60.58

Health Score: 59.78

Median One-bedroom Rental: $2,200

Average Monthly Grocery for One: $410

The first pick on our list of the safest places to retire in the US is none other than the capital of the United States - Washington. A historical city, Washington is set on the Potomac River and is defined by its neoclassical buildings.  The city’s main features include the federal government’s buildings - namely, the Capitol, the Supreme Court, and the White House - several museums, and the famed Kennedy Center.

19. New York City, New York

Insider Monkey Score: 30

Safety Score: 70.07

Health Score: 56.33

Median One-bedroom Rental: $3,200

Average Monthly Grocery for One: $422

There’s little else that compares to retiring in New York. The glamour of the Big Apple draws in retirees from all over the States, and New York’s high safety score of 70 adds to the attraction. While definitely on the expensive side - the median monthly charge for a one-bedroom rental is $3,200 - there’s lots that the city offers to make up for it. As for retirees who have a limited budget but an urge for a New York retirement, they can explore some of the more affordable options in the city - Zillow Group, Inc. (NASDAQ:Z) lists rentals starting as low as $650.

18. Charleston, South Carolina

Insider Monkey Score: 31

Safety Score: 65.34

Health Score: 46.57

Median One-bedroom Rental: $2,000

Average Monthly Grocery for One: $374

A port city, South Carolina’s Charleston carries unmatched charm. Best known for its quaint appearance, the city’s streets are lined with cobblestone paths, antebellum houses in pastel shades, and horse-drawn carriages - a true dream come true for retirees who want to escape the ultra-modern city life. The cherry on top is that it’s also one of the safest places to retire in the US for retirees.

17. Boston, Massachusetts

Insider Monkey Score: 38

Safety Score: 73.25

Health Score: 57.39

Median One-bedroom Rental: $2,700

Average Monthly Grocery for One: $415

A college town, Boston is a hub for higher learning. Home to the likes of Northeastern University, Boston is also a popular spot with retirees. A large city, it offers senior citizens an active and enriching lifestyle with a plethora of activities to engage in including museums, an aquarium, gardens, and parks.

16. Chicago, Illinois

Insider Monkey Score: 39

Safety Score: 69.98

Health Score: 54.33

Median One-bedroom Rental: $1,795

Average Monthly Grocery for One: $377

If you’ve dreamed of spending your retirement indulging in the best of eats, then Chicago might be the perfect spot for your retirement years. Best known for its cuisine - including deep dish pizza, Chicago-style hotdogs, and the famed Polish sausage - Chicago retirees will never tire of the food. Architecture and museums are also high up on the list of what the city has to offer, and retirees can spend many a day exploring the city’s attraction spots.

15. Orlando, Florida

Insider Monkey Score: 43

Safety Score: 65.15

Health Score: 54.59

Median One-bedroom Rental: $1,518

Average Monthly Grocery for One: $371

Orlando’s winning quality is its range of theme parks. The Walt Disney Company (NYSE:DIS)’s Magic Kingdom, United Parks & Resorts Inc. (NYSE:PRKS)’s SeaWorld, and Universal Orlando Resort are some of the most popular. Not to forget, The Walt Disney Company (NYSE:DIS)’s Epcot is also a great day pick for retirees who want to experience the marvel of different cultures without travel. Theme parks aside, Orlando also boasts great weather - warm and sunny with mild winters - making it a retiree’s paradise.

14. Port St. Lucie, Florida

Insider Monkey Score: 46

Safety Score: 76.21

Health Score: 38.64

Median One-bedroom Rental: $1,700

Average Monthly Grocery for One: $376

Another Florida pick, Port St. Lucie is one of the safest places to live in the U.S. for families. While rent is on the higher side at a median price of $1,700, retirees can find cheaper options - Zillow Group, Inc. (NASDAQ:Z) lists rentals starting as low as $850. A city full of nature, Port St. Lucie is the ideal retirement spot for senior citizens who want to spend time in the great outdoors.

13. Portland, Oregon

Insider Monkey Score: 47

Safety Score: 68.51

Health Score: 61.09

Median One-bedroom Rental: $1,415

Average Monthly Grocery for One: $388

Our first Oregon city, and claiming the 13th spot on our list of safest places to retire in the US, is Portland. The city is located on two rivers, the Willamette and Columbia, and is also bordered by the snowy Mount Hood. Although Oregon’s largest city, Portland offers residents a chance to relax and sit back at one of its many coffee shops, parks, and microbreweries.

12. El Paso, Texas

Insider Monkey Score: 56

Safety Score: 71.61

Health Score: 39.02

Median One-bedroom Rental: $888

Average Monthly Grocery for One: $308

With monthly rent and groceries for an individual coming out to the $1,200 mark, El Paso is one of the cheapest and safest places to retire on our list. In fact, with some smart budgeting, an El Paso retirement makes it possible to live in USA on $2,000 a month. The city is surrounded by mountains and experiences over 300 sunshine days - perfect for retirees who want to spend their retirement outdoors.

11. Mobile, Alabama

Insider Monkey Score: 56

Safety Score: 74.75

Health Score: 37.36

Median One-bedroom Rental: $904

Average Monthly Grocery for One: $345

Another addition to one of the cheapest and safest places to retire in the US, Mobile in Alabama is a port city. With a high safety score of over 70, Mobile residents can retire with peace of mind, focusing on the fun things in life. The city participates in Mardi Gras and has museums that are perfect for a day out.

10. Worcester, Massachusetts

Insider Monkey Score: 56

Safety Score: 81.21

Health Score: 45.49

Median One-bedroom Rental: $1,700

Average Monthly Grocery for One: $383

Starting off the top 10 safest places to retire in the US is the Massachusetts city of Worcester. The city boasts one of the highest safety scores on our list, making it an ideal pick for retirees who want to spend their Golden Years living in peace. Worcester residents can visit the EcoTarium, the Salisbury Mansion Museum, and the Worcester Art Museum - among many more.

9. Charleston, West Virginia

Insider Monkey Score: 57

Safety Score: 73.32

Health Score: 33.2

Median One-bedroom Rental: $795

Average Monthly Grocery for One: $317

For senior citizens who are planning to live out their retirement years on a Social Security check but still want to live in a reasonable place, Charleston in West Virginia is the perfect find. With rent and groceries coming out around the $1,000 mark - Zillow Group, Inc. (NASDAQ:Z) lists cheaper options than the $795 median - retirees would have dollars left over. These can be put towards local trips, indulging in luxurious buys, or even amenities such as domestic help.

8. Manchester, New Hampshire

Insider Monkey Score: 59

Safety Score: 80.7

Health Score: 45.62

Median One-bedroom Rental: $1,550

Average Monthly Grocery for One: $379

The number eight spot on our list of safest places to retire in the US goes to our first and only New Hampshire pick - Manchester. Located on the Merrimack River, Manchester is best known for its rich mill history. Residents can visit the Currier Museum of Art, Millyard Museum, and the Zimmerman House to immerse themselves in the city’s culture and roots.

7. Dover, Delaware

Insider Monkey Score: 60

Safety Score: 74.97

Health Score: 39.71

Median One-bedroom Rental: $1,222

Average Monthly Grocery for One: $331

Next up on our list of safest places to retire in the US is the capital city of the state of Delaware. With a population of under 40,000 at the time of the latest United States Census, Dover combines small-town living with the amenities associated with larger cities. Retirees can find a host of indoor and outdoor activities to occupy themselves with.

6. Tampa, Florida

Insider Monkey Score: 61

Safety Score: 76.54

Health Score: 52.3

Median One-bedroom Rental: $1,595

Average Monthly Grocery for One: $375

Next up on our list is another pick from one of the most popular retirement states in the US - Florida. The Sunshine State city of Tampa is best known for its lively atmosphere comprised of beaches, theme parks, and nightlife. A fun and happening place to live, Tampa retirees can also immerse in historical and cultural offerings at the city’s museums. 

Click to continue reading and see the 5 Safest Places To Retire in the US. 

Suggested Articles: 

Disclosure: none. 20 Safest Places To Retire in the US is originally published on Insider Monkey. 

Advertisement