02 Feb Is Texas a good place to retire? Why Pittsburgh might be a little better for you
When it comes to a retirement, Dallas/Fort Worth is the 10th best metro area among the 50 largest, according to a report by Bankrate.com.
The report is based on what matters most to seniors, including weather, cost of living, crime rate, health care quality and affordability, taxes, senior well-being, cultural vitality, public transportation and the "friend factor" — the percentage of folks 65 and older.
Although D-FW received lower marks for its friend factor (No. 47) and cultural vitality (No. 44), seniors here benefit from low taxes (No. 2), good transportation (No. 13) and fairly decent weather (No. 14).
What matters most
How did the best rise to the top and the worst fall to the bottom? Here are the top and bottom 10 and the best or worst ranking for each of them:
"A couple retiring today at 65 will face around $275,000 worth of medical expenses in the last third of their lives, and that doesn’t include long-term care. Improving health costs and outcomes for Dallas seniors will make it a better place to retire."
Taylor Tepper, analyst, Bankrate.com
Health and taxes
Perhaps nothing is more important to retirees than access to good health care at a reasonable price. Four of the five highest-scoring cities in this category ended up in the top six towns to retire. Dallas placed 19th. On the plus side, Lone Star cities placed second when it comes to tax burdens.
Overall rankMetroLifetime medical costsMedical costs rankTax burden rank1Pittsburgh$297,3305352Boston$310,6281333Los Angeles$300,80937434Denver$294,5357125Providence, R.I.$305,2642366Minneapolis$293,3094387Tampa$307,62724138Phoenix$294,48329119Austin$314,65018310D-FW$314,65019226San Antonio$314,65016438Houston$314,650175
Ya can’t fix weather
Based on the number of days that you’ll typically need air conditioning or heat and the percentage of clear days, here’s how the Top 10 and Texas cities stack up. San Francisco (#27 on the overall list) scored the perfect 10, while Minneapolis is deemed the most miserable.
Overall rankMetroWeather rank1Pittsburgh432Boston363Los Angeles24Denver355Providence, R.I.256Minneapolis507Tampa298Phoenix89Austin2310D-FW14
"As Dallas’ 50-plus population grows, we must ensure that older adults have access to affordable housing, programs that reduce isolation and resources that protect them from harm. This will have a direct correlation on our community’s overall health and well-being."
Cortney Nicolato, CEO, The Senior Source
RankingsPittsburghD-FWCrime216% of pop 65+247Health care519Things to do1244Transportation1413Well-being2335Taxes352Weather4314
"D-FW is still a youthful metro, so the fact that we scored 48th for the ‘friend-factor’ — percentage of people who are 65 and older — shouldn’t come as a big surprise or a major downer."
Cheryl Hall, business columnist, The Dallas Morning News