The Top 20 Cities to Buy a Retirement Home

For homebuyers looking at that ideal retirement property, a survey by 55places.com revealed that 77 percent of adults were looking at these homes to be affordable.

When asked about the anticipated costs of a future home compared to the value of their current one, 26 percent respondents said, "about the same" while 27 percent would prefer "slightly less" and 24 percent "much less," the survey indicated.

"A home within a certain price point is only half of the equation," said Danny Goodman, COO and Co-founder of 55places.com. "The surrounding area—whether or not an active adult community is of interest—plays an integral role in the quality of life, and nearby attractions and available establishments can greatly enhance that. These destinations provide budget-friendly options without demanding sacrifice for comfort."

Apart from affordability, the survey noted that these homebuyers were also looking for a fun and active retirement in or outside a 55-plus community. The survey then looked at cities and towns that provided a balance of affordability and an active retirement lifestyle. For the survey, 55places.com looked at factors such as the overall cost of living, local home prices, state tax laws, well-being scores, availability of 55-plus communities, local health, local health care options, and public transit.

Sioux Falls in South Dakota secured the first rank in this list scoring top marks in terms of affordable home prices and low cost of living (7 percent lower than the national average). At No. 2 Ocala, Florida not only got top marks for home affordability, but also for the wide variety of options available for active adult living and favorable tax laws. Four more Florida cities, Lakeland, Jacksonville, Daytona Beach, and Gainesville took the third, fourth, fifth, and sixth spot respectively. Tampa-St. Petersburg, again in Florida, was ranked ninth, beaten by New Castle County, Delaware and South Bend, Indiana which took the seventh and eighth spot respectively. Waco, Texas rounded off the top 10 cities for retirement.

Other cities that made the Top 2o rankings included, Birmingham, Alabama; Memphis, Tennessee; San Antonio, Texas; Fort Myers/Cape Coral, Florida; Phoenix, Arizona; Melbourne, Florida; Grand Rapids, Michigan; Orlando-Kissimmee, Florida; Wichita Falls, Texas; and Indianapolis, Indiana.