When it comes to retiring, Americans have Austin on their golden-years wish list, a new survey shows.
In the survey, commissioned by Provision Living, an owner of senior living communities, Austin ranked 13th among the top 20 retirement cities, with Dallas at No. 11 and Houston at No. 14. Miami claimed the No. 1 spot, followed by San Diego at No. 2 and Denver at No. 3.
At least half of the 20 most desired retirement destinations offer warm-weather climates, including the three Texas cities on the list. In total, Provision Living says 2,000 Americans were questioned for the survey.
“There’s a reason why warm, sunny places are a cliché for retirees,” Provision Living says. “Not only is the weather great, but they also provide year-round fun and relaxation for seniors who like to get outside.”
A 2013 article from MarketWatch points out that aside from pleasant climates, Austin, Dallas, Houston, and other cities in Texas draw retirees because the state has no income tax and has a relatively cost of living. In addition, the unemployment rates in those three markets are lower than the national average, and their housing markets are strong.
The findings of Provision Living’s survey deviate from a WalletHub study released earlier this year that ranked the best places to retire in the U.S. The study positioned Austin at No. 8 among large cities, with Dallas at No. 46 and Houston at No. 92.
The WalletHub study ranked 180 cities based on 46 key metrics, including cost of living, taxes, and recreational activities.
Other interesting findings from the Provision Living survey include:
- 52 percent of Americans think about retirement four or more times per week.
- The dream age to retire for baby boomers is 64, while millennials have a dream retirement age of 56.
- 79 percent of survey respondents said they preferred to stay in the U.S., while an adventurous 21 percent said a dream retirement means moving abroad.
- While baby boomers preferred a neat and tidy 1,510-square-foot home in retirement, millennials needed a bit more space with an optimal square footage of 1,890.