Do you want to continue renting? Read more here!
Not everybody wants to own a home, and this is totally understandable. But once you decide that this is the best approach for you, things change a little bit. If you want to relocate for retirement, the best places to purchase a home are not the same as the best renting places.
You probably want to live in a location that is affordable and has access to good hospitals. These are the main criteria retirees are looking for when they want to find a new city or town to move into.
Hopefully, you are where you should be because we are about to tell you more about some of the best places you can go if renting is your go-to choice. As of December 2024, the latest data available, the national median price for a single-family existing home reached $418,700, reflecting a 3.1% increase from the previous year, according to the National Association of Realtors.
Because of this, renting may be a better choice for many retirees who want to move because it gives them more freedom and financial security in an uncertain housing market.
Columbus, Ohio
Maybe this is the home of Ohio State University, but the capital city of Ohio is a wonderful place for retirees. Even if the university gives it a lot of traits that make it an attractive city for young people, those over 55 years old also have a well-established place here. Some of the main attractions for the trees are the Franklin Conservatory and Botanical Garden.
Furthermore, who said that college life is only for the youth? Here, in Columbus, you can take advantage of the Program 60. This is a program that provides access to tuition-free, non-degree programs for any seniors over 60 years old. Isn’t this initiative awesome?
The prices for purchasing a home here are lower compared to the rest of the county, but there are not so many homes on the market, and this might be a problem. Hopefully, if you want to go on the path of renting, you can take a three-bedroom apartment and pay between $1,129 and $1,700.
Seniors who love urban living could explore renting in downtown Columbus because the location is a walkable spot with various restaurants, stores, and entertainment options.
Ohio’s income tax rates range from 2.75% on incomes between $26,051 and $100,000 to 3.5% on incomes exceeding $100,000. Seniors can take advantage of a tax deduction for retirement income ranging from $25 to $200, depending on how much eligible income they receive from their pension or retirement plan.
San Antonio, Texas
This is a wonderful place for seniors because here you can find anything you might be looking for in a city. And the best part? All of this at affordable prices and without the crowds! Yes, this city has a population of 1.4 million, but you’d be surprised to see that it still has that peaceful feeling many people are searching for.
So, why should renting a home here be more advantageous than renting in some other place? Well, a one-bedroom apartment right near the Pearl Brewery, right in the middle of the city, costs only $1,999 per month. If you want something cheaper, you can try the Stone Oak and Medical District, and you will pay around $1,500 a month.
Considering that this place is also called the “Military City USA,” you can only consider this good news because if you were in the military, you would have access to shop tax-free at the Exchange and Commissary. This can be found in all military bases in the area. Also, there are many retirement communities for those who served in the army.
Tallahassee, Florida
Even if you are renting, Florida is still an amazing retirement option. Tallahassee is right between the Gulf of Mexico coastline and the Georgia border, which makes it an easily accessible location.
A two-bedroom apartment in the midtown can be rented for $1,450 a month. Due to the increasing popularity of the market, rents have increased by approximately $21 compared to previous years. Furthermore, in Florida there is no state income tax, so every penny you get as a retiree is completely tax-free.
If you like to spend time in nature, renting here is a suitable option because the St. Marks National Wildlife Refuge is just 20 miles from the city. Also, if riding a bike is your hobby, you need to know that Munson Hills Mountain Bike Trail System is fantastic for anyone who wants to wander around on clay paths.
When it comes to healthcare, within a quarter-mile radius of Tallahassee, you’ll find three hospitals. Tallahassee’s HCA Florida Capital Hospital is a 288-bed acute care facility with over 380 doctors practicing 20 distinct fields.
Also, if you want to create more connections with those around you and learn new things, you should definitely take advantage of the Osher Lifelong Learning Institute at Florida State University. This is a program for every citizen over 50 years old and offers more than 100 classes that can help you expand your horizons.
Athens, Georgia
This place is just 70 miles northeast of downtown Atlanta, so if you want to stay somewhere that is close to a big city, this is your lucky day. The lower cost of living makes it the perfect place if you want to rent a home for yourself, and this proximity to a bigger and more important city gives you an advantage compared to other places where you don’t have this opportunity.
A 2-bedroom home in Athens is only $1,500, and if you have more money and you want something modern, you can rent a 1,000-square-foot home with two bedrooms downtown for just $1,730. Here you will also get access to a pool and even pickleball courts.
Athens is an awesome place to live, especially if you love music and the nightlife. The multitude of bars with live music and craft beers makes this a real haven for anyone interested in these activities. However, the 40 Watt Club and Georgia Theatre are still the main attractions when it comes to live music venues.
Then there is the State Botanical Garden of Georgia, in case you want to go for a peaceful stroll around the trees and flowers. Also, the Georgia Museum of Art is worth mentioning, considering that this is home to some interesting pieces.
See? You don’t always need to buy a home. Renting one might be a better choice for some of us, and if you don’t want mortgages, then this is the perfect solution. It all depends on what best meets your needs.
Also, if you want flexibility, then renting is an amazing option. Do you want to change your mind? No problem! Renting allows you to move into all of these cities you can see on this list.
Do you want to know more about renting? Check this out: Renting For Dummies (For Dummies: Learning Made Easy)
You should also read: 7 States That HATE Retirees
