MarketWatch insights reveal that more and more retirees are interested in the energy and resources of college towns.
Even though the precise data is missing, it is a fact that more and more retirees are looking for environments that provide opportunities for an active lifestyle and exposure to cultural activities. Here are 20 charming college towns where retirees live the dream
Athens, Georgia
The cost of living in Athens, Georgia, is 4% lower than the national average. There are warm summers and mild winters and even a milder climate than other southern states.
It is also home to great healthcare services and has the feel of a college town with historic districts, specialty stores, and an artistic culture.
Burlington, Vermont
Burlington, Vermont, is home to beautiful scenery, plenty of outdoor activities, and a relaxed, small-town community that makes it ideal for retirees. Nestled between the Green Mountains and the waters of Lake Champlain, Burlington and its surrounding region boast spectacular vistas, picturesque drives, and convenient access to Vermont’s state parks, forests, and lakes.
It is a perfect place for retirees who enjoy outdoor activities like hiking, camping, fishing, and skiing. Despite being the largest city in Vermont, Burlington has some of the lowest traffic and population density and crime rates at a minimum, making it a perfect place to retire.
Chapel Hill, North Carolina
Chapel Hill, North Carolina, is a good place for retirees because of the exciting ambiance brought by being a university town and also because of the excellent medical facilities at UNC Medical Center.
The town maintains a vibrant cultural life, with art galleries, museums, theatres, and other performance venues and a climate that provides the best of four seasons for retirees.
Ann Arbor, Michigan
Ann Arbor is a city that combines academic experience, beautiful nature, and low costs of living. As a mid-sized college town, it offers many cultural and educational things to do, giving it a perfect atmosphere for those who love to learn.
Ann Arbor is located near a beautiful landscape with four seasons; thus, it offers more than 160 parks where people can go for a walk, ski, bike, kayak, and sail. Michigan’s low cost of living, no taxation on Social Security, and the fourth most reasonable healthcare costs in the country make it a great place to retire financially.
Charlottesville, Virginia
Retirees are drawn to Charlottesville, Virginia, due to its excellent quality of life, the friendly community of a small city, and the availability of many conveniences. Charlottesville has all the advantages of a small town and excellent schools and medical centers. It has famous hiking and nature viewing areas and ways, as well as many other outdoor activities.
For those who like arts and culture, Charlottesville has much to offer, including fine arts, live music, and historical places of interest such as Monticello, Ash Lawn-Highland, and Montpelier. Not to mention, the city offers several tax deductions for its senior citizens, including up to $12,000 per individual, according to SmartAsset.
Boulder, Colorado
Boulder, Colorado, has a great climate, rich outdoor recreational opportunities, a good community atmosphere, and low taxes. Located on the foothills of the Rocky Mountains, Boulder has an incredible amount of walking trails, biking trails, places for scenic drives, and even places to spot wildlife.
It also has good health facilities and friendly tax systems. The state has a flat income tax of 4.40%, there is no tax on Social Security benefits, and up to $24,000 is exempt from tax on other forms of retirement income.
Madison, Wisconsin
Madison, Wisconsin, offers active seniors vibrant neighborhoods with diverse homes and numerous socializing ways. The mild and rather wet summers and cold winters with good snow cover will appeal to those who like their climate to vary.
Madison is nestled near parks, forests, and lakes and offers an excellent choice of outdoor activities, including hiking, camping, fishing, and boating. This makes the area perfect for those who like spending their retirement outdoors.
Asheville, North Carolina
It is one of the best cities to retire to, especially because it has beautiful sceneries, good healthcare, and great cultural activities. Asheville is well positioned with the Appalachian National Park, Pisgah National Forest, other state parks, and Blue Ridge Parkway, which are not far away for nature lovers.
The city has very good healthcare facilities; among them is Mission Health, the sixth largest health system in the state.
Oxford, Mississippi
Oxford, Mississippi, is an ideal region for retirees thanks to its low cost of living, low taxes, and good standard of living. Oxford is 14% cheaper than the rest of the country.
According to Yahoo Finance, the state’s taxation policies also make it a good place for retirees since it does not impose taxes on Social Security income, 401(k), or IRA, and property taxes are fairly low.
Gainesville, Florida
Gainesville is a great place to retire, especially due to the good healthcare facilities and conducive weather. These include the University of Florida Health and the North Florida Regional Medical Center, where the price of health facilities is approximately one percent less than the country’s standards.
This is also aided by the favorable weather that the city of Gainesville experiences most of the year. It affords retirees an opportunity to live in a region with a warm climate and get away from the cold of other parts of the country.
Ithaca, New York
As one of the best places to live, a top 10 recreation city, and one of the greenest places to live, Ithaca is also claimed to be the “foodiest” town in America, which is attractive for retirees.
This makes it attractive to retirees because of its high sense of community, rich culture, and the many awards it has received. This town is very friendly to people of all ages and is a good place to build a home.
Lexington, Kentucky
Consequently, Lexington, Kentucky, is one of the favorite cities for retirement. It is relatively cheap to live there; there are good hospitals, health facilities, and many retirement communities. Its cost of living is 8% lower than the average of the rest of the country.
Lexington offers financial assistance, low sales and property taxes, and no tax on Social Security benefits. Some of the best hospitals, including UK Albert B. Chandler Hospital and Baptist Health, are located in the city, and provide quality healthcare services.
Eugene, Oregon
Eugene is a city that offers many outdoor activities, a rich culture, good health care, and a good place to eat. Eugene has plenty of retiree-friendly activities such as kayaking, rafting, fishing, and hiking since it is strategically situated close to the Willamette River and Oregon coast, and beautiful walking trails.
The city also offers the communities many galleries, music performances, theaters, and festivals.
Bloomington, Indiana
Bloomington, Indiana, is quite welcoming. Numerous clubs and groups make the community welcoming to anybody. The City of Bloomington is a cultural center of the Midwest.
It boasts cultural centers that include music, coffee houses, organic markets, restaurants, and festivals. More attractions have been created within the city, such as concerts and art galleries from institutions such as Indiana University Bloomington.
Lawrence, Kansas
Lawrence is an affordable city with some of the cheapest housing, a low cost of living, and quality healthcare facilities. According to FOX4KC, in 2023, the median home price was 25% lower than the average in the United States, so retirees can afford better houses.
Lawrence boasts a lower cost of living than many other American cities and does not have a state estate tax.
Fayetteville, Arkansas
Some of the reasons why Fayetteville, Arkansas, is an ideal place to retire include its natural beauty, Affordable cost of living, and tax-friendly environment.
Fayetteville is set in the picturesque Ozark Mountains and is near Hot Springs National Park and the Buffalo National River, so retirees can enjoy the great outdoors by hiking, fishing, or taking scenic drives. The standard of living is somewhat cheaper than in many other states, including housing, food, and healthcare.
Fort Collins, Colorado
Fort Collins is a city in Colorado that boasts 300 days of sunshine every year, so retirees can enjoy good weather at any time of the year. This city has Colorado’s nationally ranked hospitals and the best healthcare services, which means that retirees will be well taken care of in terms of medical care.
Located in the foothills of the Rocky Mountains, Fort Collins offers many activities, such as hiking, biking, skiing, and golfing. Colorado offers generous incentives to retirees, including a large deduction on retirement income.
Bellingham, Washington
Bellingham, Washington, is a popular retirement location because it offers recreational pursuits, a friendly community atmosphere, and easy access to big cities. People who enjoy being outdoors will not be disappointed; there are opportunities for beach, lake, and mountain activities.
Mountain biking is famous in Galbraith Mountain, while Mt. Baker ski resort, less than 60 miles away, offers activities throughout the year.
Ames, Iowa
Ames is a warm community with very little crime and would be a great place to retire. Iowa State University offers cheap accommodations and beautiful gardens.
The town offers many cultural attractions and recreational opportunities, as well as numerous community events and good healthcare services.
College Station, Texas
College Station, Texas, has a rather low cost of living, support for lower taxes, and good healthcare systems. Forbes has ranked College Station as cheaper than the Texas state average and the U.S. average, with a median home price of $260,000.
Disclaimer – This list is solely the author’s opinion based on research and publicly available information.
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