AdvisorSmith Finds the Most and Least Affordable Cities for Retirees

NEW YORK - Rezul -- AdvisorSmith, a leading resource for small business and economic content, released its newest study that examined metropolitan areas in the U.S. to find the most and least affordable cities for people to retire in.

AThe study used the U.S. Census Bureau's data and looked at the age composition of 518 cities in the country. AdvisorSmith found that the percentage of the population that was aged 65 or older was 16.4 percent.

To find the most and least affordable cities for retirees, the company first examined the cities to find those where the percentage of the senior age population was at or above the national average of 16.4 percent. Having an aging population above the average illuminated that the city was popular for retirees.

AdvisorSmith segmented the best and worst cities based on population size. Cities with under 150,000 residents were labeled small cities. Cities with between 150,000 and 500,000 residents were labeled midsize cities, and cities with over 500,000 residents were labeled large cities.

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To determine the cost of living for each city, AdvisorSmith used its City Cost of Living Index (https://advisorsmith.com/data/coli/) to examine and rank the cities based on their affordability.

The most affordable small, midsize, and large cities for retirees were Beckley, WV; Charleston, WV; and Youngstown, OH. On the other hand, the least affordable small, midsize, and large cities were Kapa'a, HI; Santa Cruz, CA; and Honolulu, HI.

To see the rest of the study, visit https://advisorsmith.com/data/most-and-least-affordable-cities-for-retirees.

About AdvisorSmith

AdvisorSmith is a leading information resource for small business owners. AdvisorSmith empowers small businesses with original research and insights into trends to help them succeed. For more information, visit https://advisorsmith.com or follow us on Twitter @AdvisorSmithInc.