This Midwestern U.S. City Is the Most Affordable Place to Retire in 2024

Once at the heart of America's steel industry, Youngstown is now a cultural destination with affordable housing, parks, and excellent healthcare facilities.

Finding an affordable place to live is key when retiring on a budget. After all, housing, including taxes and home repairs, will account for a considerable chunk of your monthly expenses.

So, if you're searching for an affordable community to relocate to in 2024, consider Youngstown, Ohio, which recently topped US News' most affordable place to retire ranking. With factors such as healthcare, recreation, cost of living, taxes, and overall happiness, Youngstown outperformed 150 metropolitan areas across the country that the publication took into consideration.

With a median home value of just $137,546 and a median rental cost for an apartment of $706 per month, it is easy to see what makes Youngstown desirable to retirees. But this city of a little over 60,000 that is home to Youngstown State University also has plenty more to offer to its senior citizens.

"We have a strong arts community with the Youngstown Symphony, the Butler Museum of American Art, and the Youngstown Playhouse," Alicia Kosec, a Youngstown native and president of northern Ohio and Michigan, Howard Hanna Real Estate Services/Luxury Portfolio International, told Travel + Leisure. (The Butler Institute of American Art, dubbed "America's Museum," boasts a world-class collection of over 22,000 American artworks and receives over 100,000 visitors annually.)

And, opera enthusiasts can visit Opera Western Reserve, the city's own opera company. It not only produces performances but also educates young artists. Youngstown's convenient location between Cleveland and Pittsburg means residents can easily access even more cultural events and activities year-round.

Kosec also added that the city's shopping scene includes larger national grocery stores like Walmart, Giant, Aldi, and Lidl, as well as many local and independently owned businesses and smaller, unique boutiques.

But one of the highlights of Youngstown is Mill Creek MetroParks. This 5,000-acre recreational area encompasses 45 miles of hiking trails, a performing arts pavilion, several lakes, two golf courses, and scenic drives, and is the go-to place for its residents seeking a serene natural setting.

Kosec pointed out that the city's healthcare system includes top-notch facilities like Mercy Health and Southwoods Health. "Retirees tend to lean towards communities that offer villa homes, attached condominiums, and townhomes. They also prefer one-story living," Kosec explained. She added that several newer communities are being developed in the city that offer the amenities (first-floor master suites, community centers, and swimming pools) and types of properties retirees are interested in.

Among the top 10 cities listed in US News's ranking, Ohio has the most—three altogether, with Ashland and Toledo placing fifth and ninth respectively. Earlier this year, another Ohio city, Akron, topped a similar list by GOBankingRates, where, the company estimated, you'll need about $2,500 per month to retire.

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