One Of The Best Places For Retirees To Move Is This Midwestern College Town

Many Americans relocate when it comes time to retire, and those individuals seek out the best places around the country to live out their Golden Years. Retirees take a lot of things into account when choosing where to live and it's a decision that shouldn't be taken lightly. Affordability, comfort, access to goods and services, availability of health care, accessibility for visiting family members, and opportunities for socialization are all important factors and one Midwestern college town hits all the nails on the head: Ann Arbor, Michigan.

Hire A Helper, an online moving resource, recently reported that more than 338,000 Americans moved for retirement in 2023 alone. And according to GoBankingRates, which looked at the numbers of individuals newly collecting social security benefits each year, an average of 5.6 million Americans are expected to retire each year over the next four years. With that many people planning to retire and looking for the best place to happily enjoy the fruits of their labors, Ann Arbor's popularity as a retirement haven begs to be explored.

Ann Arbor, home to the University of Michigan and Washtenaw Community College, offers plenty for every type of retiree thanks to the environment that exists in most college towns (unlike Detroit, which doesn't fare well as a desirable retirement destination for many). With a local university, the town benefits from an excess of cultural activities and events, social activities, and dining options. It also has a youthful vibe, something that is helpful to the vitality of its residents. With recent trends indicating that almost 24% of Americans who retired in 2023 were 55 or younger according to Hire A Helper's annual retirement study, it is increasingly important for retirees to have access to a variety of activities, conveniences, and services that allow them plenty of opportunity to making college towns top choices for many.

Healthcare is also a big draw, especially when the local university has a medical school, as Ann Arbor does. The University of Michigan Hospital, the affiliate hospital for the University of Michigan Medical School, gives residents direct access to quality health care, the latest in medical research, and state-of-the-art medical technologies. The hospital was, in fact, named the best hospital in the state of Michigan in 2023 and was named to the nation's honor roll of hospitals, making it an ideal choice for retirees who have a variety of health care coverage including Medicare, Medicaid, and private insurance plans.

Michigan is often lauded as one of the top states for retirees and even though it may not be the cheapest state to retire in, it is still quite affordable compared to other states. GoBankingRates took a look at all 50 states to see how they fare when it comes to affordability for retirees and found that the average annual cost of a comfortable retirement for Michigan is $63,745. This number took into account annual average costs for health care, groceries, housing, transportation, and utilities, then added a 20% buffer zone. While some states came in lower than Michigan, other states came in much higher, like Massachusetts at $100,201. Even Florida, often lauded as the most popular state for retirees, had a high annual cost of living for retirees at $71,592.

But affordability is just one of many factors people take into consideration when choosing a permanent home in retirement and Ann Arbor, where 12.7% of the population is over the age of 65, hits all the marks. From plenty of senior-friendly activities and entertainment options to having plenty of senior housing availability (according to Seniorly there are more than 20 assisted living options in the area that feature a variety of price ranges), it's no wonder that Ann Arbor is making a name for itself as a retirement destination of choice for so many.