The state boasts a cost of living rate that is nearly 5% lower than the national average, and a 2013 median home price of $155,255, a number which has been slowly on the rise since the 2007 – 2008 real estate downturn. Arizona is also remarkable for its high number of well-appointed retirement communities. Other factors that make an Arizona retirement an attractive option include the state’s top income tax rate of 4.54%, and special property tax protections for people over 65.
Practical matters aside, the state also offers active adults a wide range of outdoor activities, including world-class golfing, hiking, horseback riding and bird watching.
Cons: Summer temperatures can be brutally hot in some regions
Best For: Outdoors lovers
Cost of Living: 5% lower than national average
Median Home Cost: $155,200
Unemployment Rate: 7.9%
Top State Income Tax: 4.54%
Retirees passionate about culture will appreciate Arizona’s towns and cities, which serve residents with excellent cultural attractions like art galleries, museums, and orchestras.
Though Arizona will remain one of the nation’s most popular retirement destinations, it does have it’s downsides, including weather than can be brutally hot during the summer months.
Despite the average low cost of living across the state, those seeking to retire in Arizona should be aware that some well-heeled towns, like Sedona or Scottsdale, have much higher costs of living.