Four cities in the Phoenix metro area rank among the top 10 best places for Generation X to retire, according to a new study by ChamberofCommerce.org. The study analyzed 170 cities across the U.S. based on factors like affordability, safety, health, and demographic appeal. Gilbert, Arizona, came in at number five on the list.
The city boasts a life expectancy of 78.2 years and a Gen X median household income of $132,719. Median real estate taxes in Gilbert are $2,301, and the patient to physician ratio is 1,430 to 1. Gen Xers make up 13.71% of Gilbert’s population.
Scottsdale, Chandler, and Peoria also made the top 10, ranking sixth, seventh, and eighth respectively. These Phoenix suburbs, along with Gilbert, offer an ideal mix of affordability, safety, health, and demographic factors that appeal to Gen X retirees.
Top Phoenix cities for Gen X retirees
The study found that cities in Texas, Arizona, and Florida dominate the list of best places for Gen X retirement. In fact, the Dallas and Phoenix areas are home to eight of the top 10 cities. Frisco, Texas, a Dallas-Fort Worth suburb, topped the list.
Gen X accounts for 17.82% of Frisco’s population, and the city has a life expectancy of 81.6 years, considerably higher than the average of 78.5 years among the cities analyzed. According to nationwide surveys, 25% of Americans and 27% of Gen Xers have no retirement savings. More than half of Americans (54%) and 39% of Gen Xers believe Social Security will be insolvent by the time they retire.
Additionally, more than 1 in 3 (39%) Gen Xers say they’ll never be able to retire. The ChamberofCommerce.org study highlights the importance of factors like housing affordability, cost of living, tax friendliness, life expectancy, access to healthcare, migration, and crime rate when choosing a retirement destination. For Gen Xers, who are often referred to as the “forgotten generation,” these Phoenix suburbs offer an attractive combination of features for their golden years.
- AZBigMedia.”4 Metro Phoenix cities among 10 best for Gen X retirement”.
- UpscaleLivingMag.”The Luxe Life: Where Discerning Seniors Are Choosing to Retire in Style”.
- Yahoo.”10 Best Cities for Gen X To Retire”.