It’s no secret that housing prices have skyrocketed in recent years. This has affected new homebuyers and retirees who were hoping to relocate. If you’re currently retired or will be soon, you might be tossing around ideas for where you want to live.
However, being on a fixed retirement budget means you’ll need to be more conscious about how much you’re spending, and unfortunately, some popular spots are becoming less affordable. Keep reading as we dive into three retirement towns that are . Wealthy people know the best money secrets.
. Arizona has always been a popular state for retirees. Sedona, located at a higher elevation, provides retirees nearly 300 days of sunshine each year but doesn’t have the extreme heat you’ll find in the Phoenix area.
“Sedona has a strong focus on wellness and spirituality, with many spas, wellness centers, and holistic health services,” says Martin Boonzaayer of . There are plenty of opportunities for hiking, biking, and outdoor photography, which appeal to active retirees. Unfortunately, Sedona is becoming increasingly unaffordable for many people.
The average home price in Arizona is just under ; however, to live in Sedona, it will cost nearly on average. “The demand for homes here has outpaced supply, pushing up property prices, especially for luxury homes,” added Boonzaayer. “The rise of short-term vacation rentals has reduced the availability of long-term housing, driving up rental prices.
Tourism increases the cost of services, dining, and daily necessities. While tourism boosts the local economy, it also raises living costs, making it challenging for retirees on fixed incomes to afford to live in Sedona.” Asheville, North Carolina, has been a popular retirement spot for many years.
Located on the edge of the Blue Ridge mountains, it offers a mild climate year-round. The town also has top-notch healthcare facilities and many outdoor activities, appealing to retirees looking to maintain their outdoor lifestyle. “Over the past few years, Asheville has seen a significant influx of new residents, driving up demand for housing,” says Colten Claus, Associate Broker at .
“The median home price in Asheville has surged to around , a substantial increase from previous years. This rise in prices, coupled with a limited housing supply, has made it challenging for retirees on fixed incomes to find affordable housing options.” Florida might be one of the most popular locations for retirees to live full-time and snowbirds to enjoy the winter months.
However, prices across Florida, particularly in Naples, have increased substantially over the past decade. Naples offers retirees beautiful white sandy beaches, amazing golf courses, and a warm climate 12 months a year. It also has a strong healthcare system, upscale restaurants, and great shopping.
It’s no wonder people have always loved to retire here. Unfortunately, prices have become increasingly unaffordable. “The demand for retirement homes in Naples has skyrocketed, leading to a dramatic increase in property values,” says Claus, “The median home price in Naples now stands at around , a sharp rise from previous years.
This significant increase has priced out many potential retirees who were considering Naples as their retirement destination.” This article originally appeared on :.
