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The power of place: In late life, factors such as proximity to health care facilities, family and friends are key, in addition to cost of living and taxes. Here, you’ll find a list of the most cost-friendly cities across the U.S. (and for those who live in our Howard Bailey home state, you might recognize one in particular!). They are as follows:
📌 Visalia, CA: The median home price is $380,000, and while California excludes Social Security benefits from state income taxes, other forms of retirement income are taxable.
📌 Grand Junction, CO: With a median home price of $392,300, this area is an outdoor lover’s dream. Additionally, Colorado offers generous tax breaks to retirees.
📌 Tulsa, OK: The median home price is $229,200; however, “Oklahoma is a mixed bag for taxes in retirement.”
📌 Fort Wayne, IN: As a Fort Wayne resident myself, I can vouch for the many amenities this city has to offer! The median home price is $268,378, and in the way of taxes, Indiana exempts Social Security benefits.
📌 Winston-Salem, NC: Here, the median home price is $261,200, and while North Carolina doesn’t tax Social Security benefits, it does tax other types of retirement income.
📌 Scranton, PA: “The Office” show fans aside, Scranton is a favorable pick for its low median home price of $150,000, and additionally, Pennsylvania doesn’t tax Social Security benefits or other types of retirement income.