Massachusetts – Retirement Guide

Massachusetts   Retirement Guide

Top Retirement Cities in Massachusetts: 

Barnstable | Northampton

Though Massachusetts does have an average cost of living that is nearly 40% higher than the national average, there are still less expensive enclaves for retirees that can be found throughout the state. Massachusetts features small coastal and mountain towns in Cape Cod and the Berkshires, many of which are scenic and affordable.

The state has a reputation for attracting well-educated and creative individuals with a penchant for the arts, as evidenced by some of the Massachusetts cultural highlights: world-class art museums like MASS MoCA, concerts series such as the acclaimed Tanglewood Music Festival and Boston’s orchestra and historic downtown.

Massachusetts weather does have 4 distinct seasons, and retirees should be aware that winters here can be harsh, with cold and snowy weather. The state is also home to some of the finest healthcare in the nation, including Brigham and Women’s, Massachusetts General and Tufts Medical Center.

Pros: Charming small towns, cultural and historic attractions
Con: High cost of living

At a Glance:
Best For: Intellectuals and Culture lovers
Population: 6,646,144
Cost of Living: 38% higher than national average
Median Home Cost: $288,600
Unemployment: 6.7%
Top State Income Tax: 5.25%

While the state’s cost of living is in general higher than the national average, Massachusetts does enjoy a flat 5.25% income tax rate, Social Security is not taxed, and some retirees over 65 years of age will qualify for an income-based $1000 tax credit.

Top Retirement Cities in Massachusetts:  Barnstable | Northampton

Photo by  Muffet via Flickr. All statistics were up to date as of publication. See these sources for the most current data.