Retirees must consider several factors when deciding where to reside after retirement, with cost of living playing an especially crucial role.
Arizona may not boast the lowest cost of living, but its retirement savings will stretch further here than elsewhere.
1. Phoenix
GOBankingRates conducted extensive analysis on housing costs, utility rates, grocery spending and health care costs to identify Arizona cities offering lower living expenses with no taxes on Social Security income or inheritance – helping retirees make their money stretch further during retirement.
Phoenix area seniors have plenty to enjoy in Phoenix. Explore outdoor pursuits such as golfing and hiking trails or attend local concerts or fashion shows, while Litchfield Park provides a calming refuge from its scorching temperatures, offering intimate suburban living alongside top-tier medical facilities.
Mesa offers retirees in Arizona an affordable choice to explore with world-renowned museums and unique outdoor adventures, plus its average tax burden is lower than most Phoenix metro areas.
2. Casa Grande
Casa Grande is a small town situated at the heart of Arizona’s Sonoran Desert that thrives year-round with recreational, cultural and leisure activities. From one-of-a-kind museum exhibits that showcase its rich heritage to hot air balloon excursions that unveil its many wonders, Casa Grande provides plenty of things to do year-round.
Casa Grande was named for Casa Grande Ruins National Monument in Coolidge and officially established as a city in 1915. Situated in Pinal County, Casa Grande serves both as a health resort and agricultural region producing crops such as cotton, fruit, alfalfa and vegetables. One major attraction in Casa Grande are InnerConn Technology Incorporated’s futuristic “Domes of Casa Grande” built as part of their facility for manufacturing computer circuit boards back in 1983.
3. Tempe
Arizona offers many attractions for retirees looking to relocate here, but some factors might cause new retirees to ponder whether this state is really their ideal place. Before making their decision, here are a few considerations they should keep in mind before moving there:
Arizona may not tax Social Security benefits, but 401(k) withdrawals could affect your decision to retire here; according to SmartAsset it is one of only a handful of states which does so.
Tucson offers the ideal urban experience. This city combines old and new, providing plenty of opportunities for outdoor activities thanks to 300 days of sunshine per year. By day you can pick up vintage editions at Old Town Books or get tattooed at Henna Shoppe; and at night the downtown scene comes alive with live music and dancing performances.
4. Mesa
Arizona does not impose income taxes on Social Security benefits, making it a desirable retirement destination. To find cities where one could comfortably live on $2,500 monthly budget in Arizona, GOBankingRates analyzed average 2022 rent, grocery, utility and healthcare indexes.
Mesa, Arizona’s modern desert urban retreat, boasts an extensive cultural attraction range with world-class exhibitions and educational programming. Head over to the Arizona Museum of Natural History to witness T-Rex fossils or take an educational aviation history tour at Arizona Commemorative Air Force Museum.
Leisure World and Fountain of the Sun, two 55+ communities located near Mesa’s breathtaking Superstition Mountains, both provide stick-built, condo, manufactured, golf course homes as well as golf courses, pools, restaurants, clubhouses, sports courts and club activities – perfect for shopaholics! Shoppers will also find that Mesa provides some of the finest shopping experiences in Arizona.
5. Eloy
Eloy is an ideal location for retirees looking for urban charm without paying high costs. Situated within the Sun Corridor, Eloy serves as a hub for manufacturing and distribution firms.
Organ Pipe Cacti National Park can also be reached from here via trails that extend into the surrounding desert, providing visitors with restrooms and water at its popular visitor’s center near the trailhead. Furthermore, summer temperatures here tend to be considerably more comfortable than other parts of Arizona.
Uber Eats makes food delivery easy in Eloy; just enter an address to see which spots nearby offer service and filter by cuisine and star rating. Or order ahead from your favorite spots using Postmates!
6. Prescott
Retirees looking to enjoy life in one of Virginia’s two largest cities have the chance to live in a vibrant community while remaining budget friendly. You will find great shopping, restaurants, amenities and beautiful scenery alongside mild temperatures for optimal living conditions.
Location: West of Phoenix This city is widely known for being senior-oriented, featuring stores catering specifically to this demographic. There is also a selection of social clubs and sports programs as well as an 18-hole golf course located nearby.
Sun City West, a mobile home retirement community located within the city limits, provides its residents with numerous amenities and activities, such as golfing, tennis, pickleball, bingo and social clubs – as well as accessing world-class medical care and shopping in large brand stores. Furthermore, this community also features a 5,000 square-foot clubhouse which allows buyers to purchase new or resale homes.
7. Flagstaff
Flagstaff is an easygoing college town and mountain city with a relaxed yet youthful energy that makes its downtown district the place to be for modern dining, craft beer tasting and cultural events.
During the warmer months, you’ll likely see more people walking and bicycling through downtown streets than driving their cars. Flagstaff is an outdoorsy city that encourages biking and pedestrian use; enjoy stunning 7,000-foot scenery or hit up some fantastic hiking and cycling trails in Coconino National Forest nearby!
Sun City, located just west of Phoenix, offers all the amenities one would expect in a top-tier community, as well as many sports and social clubs to keep residents active and socialized. Sun City provides an ideal solution for those wanting a larger retirement village but still living close to Phoenix city center.
8. Tucson
Tucson boasts an ideal year-round climate that makes hiking and other outdoor adventures ideal. Additionally, Tucson’s rich Old West heritage attracts many retirees looking for adventure.
Arizona may not be the cheapest state in which to reside, but property taxes are relatively low and it does not tax Social Security or 401(k) distributions – both key benefits for retirees hoping to stretch out their retirement savings as far as possible. Unfortunately, however, Arizona ranks 45th for air quality which could exacerbate health concerns for some individuals living there.
The University of Arizona provides residents with many cultural activities and classes offered at Osher Lifelong Learning Institute in Phoenix. Litchfield Park is an affordable retirement community just southwest of Phoenix that emphasizes traditional American living while remaining close to airport.
9. Sedona
Arizona, in the southwestern U.S., is an alluring travel destination, appealing to hikers, campers, nature photographers and artists. Renowned for its breathtaking landscapes and spiritual healing centers, it has even served as the backdrop for several iconic movies such as Stagecoach.
Yuma offers the ideal environment for retirees. Situated along the US-Mexico border, Yuma boasts an ideal climate with cooler summers than many parts of Arizona.
Sun City, an established retirement village located within Arizona, boasts its own city. Residents enjoy access to shops, restaurants and medical facilities. Arizona boasts low taxes compared to other states; therefore your money will stretch farther here. Plus, Arizona doesn’t tax Social Security benefits, making a substantial difference for those on fixed incomes.
10. Havasu City
Lake Havasu City may be the perfect retirement oasis, offering scenic water recreation and an abundance of outdoor activities for retired adventurers to enjoy in their golden years.
City founder William Laskey captured world attention when he brought London Bridge brick by brick from England over to Colorado River, becoming an instant tourist and local draw. Today, it remains an immensely popular attraction.
Arizona provides retirement options at all price points. To help identify which Arizona cities best match your budget, schedule a free consultation with Retirable’s experienced advisors who will assist with creating a retirement plan tailored to both your goals and finances. Click here to start saving thousands on home purchases with our discounted realtor listing fees of just 0.3% of standard.
