Costly coastal cities
Some retirees are becoming renters to save money, get help with household maintenance or transition into a new location in retirement. In many parts of the country renting is an affordable retirement option. But there are several cities where people age 60 and older typically face rents in excess of $1,000 per month, according to 2016 Census Bureau data. Here’s a look at where retirees pay the highest rent.
Ventura, California
The Ventura, California, metro area, which also includes Oxnard and Thousand Oaks, is the most expensive part of the country for renters age 60 and older. This part of southern California is located along the coast near Los Angeles. The median rent for retirees is $1,429 per month.
San Jose
The San Jose metro area, which includes Sunnyvale and Santa Clara, is known for its many tech jobs, which have pushed rents higher for everyone, including retirees. The median rent for people age 60 and older is $1,366 per month.
Santa Rosa, California
Santa Rosa’s pleasant weather and proximity to wine country make this a beautiful and scenic place to spend your retirement years, if you can afford the high housing costs. The median rent among retirees is $1,315 per month. A devastating wildfire in October 2017 destroyed entire neighborhoods and displaced many residents.
San Francisco
The City by the Bay is one of the most expensive places in the country to retire. The median rent for people age 60 and older is $1,248 for the metro area, which includes Oakland and Hayward. Residents who choose to live in San Francisco will pay far more to live near the great cultural attractions, unique scenic beauty and highly regarded health care options.
Washington, D.C.
The nation’s capital and the surrounding cities of Arlington and Alexandria, Virginia, are known to have high rents, costing retirees a median of $1,235 per month. However, once you pay your rent, many of the area’s most popular activities, including a stroll along the National Mall or a visit to one of the Smithsonian museums, come free of charge.
San Diego
San Diego attracts many tourists due to its pleasant climate, beaches and proximity to tourist attractions such as the San Diego Zoo and SeaWorld. But full-time living in this southern California city near Mexico is expensive. The median rent for people age 60 and older in the metro area, which includes Carlsbad, is $1,223 per month.
Los Angeles
The most populous city in California is also one of the most expensive. The median rent for retirees in the metro area, which also includes Long Beach and Anaheim, is $1,152 per month. The year-round sunshine and proximity to Hollywood are attractive to many people, and the Ronald Reagan UCLA Medical Center is one of the top-ranked hospitals in the country.
Bridgeport, Connecticut
Connecticut’s most populous city is located along the Long Island Sound and is about an hour’s drive from New York City. The metro area, which includes Stamford and Norwalk, has a median rent of $1,146 per month among people age 60 and older.
Honolulu
A relaxing retirement near the beach in Hawaii sounds like a dream to many retirees suffering through another winter. But retirement on this tropical isle doesn’t come cheap. The median rent in Hawaii’s state capital city is $1,132 per month for retirees.
Denver
Retirees who enjoy skiing and winter sports, but also want the conveniences of a state capital city, might enjoy retirement in the Denver area. However, the median rent of $1,108 per month might feel pricey to some retirees. The Denver metro area also includes the cities of Aurora and Lakewood.
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The 10 Most Unaffordable Places to Rent an Apartment in Retirement originally appeared on usnews.com
