This Midwestern City Is the Most Affordable Place to Retire in the U.S., According to a New Report

Its overall cost of living is 27 percent below the nation's average.

Florida's year-round sunny weather may be a major draw for retirees, but if an affordable cost of living is a top priority, then you should consider living out your golden years in Ohio. Cities like Akron and Youngstown have already stood out with their affordability, and recently, Toledo, Ohio, topped Gobankingrates.com's list of the 50 cheapest places to retire in the U.S. 

The company analyzed data on housing, healthcare, food, transportation, and utility costs in the 100 largest cities in the country. It found that living in Toledo costs retirees $37,646 per year, almost 28 percent lower than the national average. In addition, approximately 16 percent of the city's population is aged 65 and over, which results in a thriving retiree community.

Another benefit to retiring in Toledo? According to Zillow, the median listing price in the city is $113,033, which is more than three times lower than the median value for the country.

Michelle Michalak, a broker at Howard Hanna Real Estate Services/Luxury Portfolio International, told Travel + Leisure that Toledo has many 50+ communities of condominiums, villas, and single-family homes, offering amenities such as senior centers with year-round activity programs.

"There are also medical facilities within a 60-mile radius, such as the Cleveland Clinic and the University of Michigan," she added. Earlier this year, the city welcomed a new clinic in the Aurora Gonzalez Community Center, specializing in primary and specialty care for senior Medicare and Medicaid recipients.

But moving to Toledo, which borders Michigan and sits on the banks of the Maumee River with direct access to Lake Eerie, has many other benefits. The city is home to one of the country's best museums — Toledo Museum of Art — that regularly hosts world-class exhibitions and offers art classes and other cultural events for people of all ages.

Sports enthusiasts will also find a lot to enjoy in the city; it has over 50 venues that host sports games, including the Fifth Third Field, home of the Toledo Mud hens, the city's baseball team.

And even if you don't end up living downtown, seniors can take advantage of Tarta Flex. This on-demand transportation service connects the city's suburbs and rural areas with Toledo's main public transportation system and costs a fraction of what ride-sharing services do.

"Our metro parks are award-winning and offer dog parks and walking trails," Michalak said. "We are additionally surrounded by Lake Erie and many inner lakes, so every water activity can be found nearby."

Also nice: the city's growing food scene treats its residents to flavors from all over the world. Two of the city's restaurants, Final Cut Steakhouse and Beirut have been featured in Wine Spectator's annual list of best wine programs in the world for over five years.

Come Along on T+L’s Top U.S. Adventures

For more Travel & Leisure news, make sure to sign up for our newsletter!

Read the original article on Travel & Leisure.