City identified as the top retirement destination in Arizona with key details provided.
As retirees actively seek ideal locales to settle down, Arizona has emerged as one of the country’s leading retirement destinations. Known colloquially as a “retirement state,” Arizona attracts many seniors due to its favorable climate and lower tax rates, particularly when compared to other options in the U.S. According to a recent study by GoBankingRates, both Florida and Arizona rank as the most popular states for retirement, primarily for their appealing weather and tax benefits.
The study showcased that retirement spots in Florida are generally more expensive than their Arizona counterparts. This finding is critical for retirees considering relocating from more humid environments to Arizona’s dry heat. Among Arizona cities, Rio Verde has been identified as the most dense in retiree population, with approximately 86% of its 2,200 residents aged 65 or older, according to the U.S. Census Bureau. Situated about 30 miles northeast of Scottsdale, Rio Verde is regarded as a cost-effective choice for seniors.
A retiree living alone in Rio Verde would need an estimated 6,947 to comfortably afford a 15-year retirement, while a couple would require about 6,239, factoring in their Social Security benefits. This data positions Rio Verde as the seventh most affordable retirement location in Arizona.
In contrast, Carefree, another town within close proximity to the Phoenix metropolitan area, has been highlighted as the costliest city in Arizona for retirement, where expenses can surpass million for a 15-year span. This small enclave, with a population of just over 3,600, offers a different appeal but requires significant financial resources for retirees.
For those seeking the most budget-friendly options, Quartzsite stands out as the least expensive city in Arizona for retirees. It boasts an annual living cost of only ,338 for a single person, which is inclusive of Social Security income. Located approximately two hours west of metro Phoenix, Quartzsite is home to around 2,500 residents, presenting a stark contrast to the bustling active retirement communities found elsewhere.
The research conducted by GoBankingRates to assess these living costs drew upon data from Sperling’s BestPlaces, incorporating a range of expenses including groceries, housing, healthcare, and utilities. Income from Social Security was also considered, with findings reflecting a typical retirement scenario that assumes individuals retire at age 65 and live to 80.
As retirees evaluate their options, Arizona’s varied offerings of affordable and appealing living environments underscore its status as a premier retirement state. The strategic blend of favorable climate, accessibility, and cost-efficient living makes Arizona a leading choice for seniors looking to enjoy their golden years.
