Low costs, high value among retirees' considerations

When moving to a new city, many seniors consider budget concerns and the wealth of activities and opportunities in their new locale. There are a handful of cities nationwide that might best fit that criteria.

Using Elizabeth Armstrong's "America's 100 Best Places to Retire" as a guide, Bankrate.com selected 10 cities that provided reasonable median home prices and a bevy of amenities. The end result was cities such as Danville, Kentucky, which was noted for having a median home price of just $125,000 and offering some of the lowest utility costs in the nation, landing near the top of the list. Additionally, the town has a popular performing arts center and a well-planned downtown area that has earned acclaim as a top "Main Street," said the report.

Retirees may also want to consider moving to Annapolis, Maryland. Homes there are more expensive - the area's median home price is $396,330 - but the town's small size puts many attractions within walking distance, including the downtown area, Annapolis Harbor and the U.S. Naval Academy.

Cost considerations are encouraging many retirees into moving to smaller homes. Data from the U.S. Census Bureau's American Housing Survey found that 28 percent of recent movers said that their new home's price tag was their most important consideration.
 

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