Editor’s Word: This story initially appeared on SmartAsset.com.
When the time comes for members of the American navy to hold up their uniforms for good, they’ll inevitably face the identical query anybody else asks themselves when nearing retirement: The place will I reside?
There are a variety of things that make a metropolis or city a superb place to retire. However which cities are greatest for navy retirees?
To reply this query, SmartAsset in contrast 200 of the most important cities within the nation throughout numerous metrics, together with the share of the inhabitants who’re veterans ages 65 and older, variety of retirement communities, estimated senior tax burden, variety of Veterans Administration well being amenities and profit places of work, median veteran revenue, share of veterans dwelling underneath the poverty line and the unemployment charge. For extra particulars, learn the information and methodology part on the finish.
Following are the perfect cities for veteran retirees.
1. Boise, ID
In Boise, 3.41% of the inhabitants is made up of veterans who're 65 and older, which is the Fifteenth-highest share for this double-weighted metric.
In the meantime, Boise had the third-lowest unemployment charge (2.5%) as of August 2021 and the Fifteenth-lowest share of veterans dwelling underneath the poverty line (2.8%). Boise additionally ranks Seventeenth for its variety of retirement communities per 10,000 residents (1.41).
2. Vancouver, WA
This metropolis in southern Washington state has the ninth-highest rating for the navy retirement friendliness index, together with the second-most retirement communities per 10,000 residents (4.06).
Vancouver, Washington, additionally has the Twenty fourth-highest share of residents who're veterans ages 65 and over (3.03%).
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3. Sioux Falls, SD
Sioux Falls, South Dakota, boasts the ninth-best rating inside the assets for veterans index. This metropolis of greater than 183,000 residents ranks Twenty third out of 200 cities for its variety of Veterans Administration advantages places of work per 100,000 veterans (1.75).
Sioux Falls additionally has the ninth-lowest estimated senior tax burden throughout our examine (13.92%).
4. Chesapeake, VA
Chesapeake, Virginia, ranks sixth general for its financial surroundings, which is made up of those three financial metrics: median veteran revenue ($60,707), share of veterans dwelling underneath the poverty line (3.4%) and August 2021 unemployment charge (3.8%).
5. Anchorage, AK
Anchorage, Alaska, ranks excessive for its navy retirement friendliness (sixth). Inside this class of metrics, Anchorage has probably the most retirement communities for each 10,000 residents (4.93) and the bottom estimated senior tax burden (8.07%) throughout our examine.
This metropolis of 288,000 folks additionally has almost 14 VA advantages places of work for each 100,000 residents, second-most amongst all 200 cities.
6. Virginia Seashore, VA
Virginia Seashore, Virginia, has the fourth-highest share of residents who're veterans and 65 or older (4.03%). This metropolis of 450,000 residents additionally has comparatively low unemployment, with solely 3.6% of staff unemployed in August 2021 (the 18th-lowest unemployment charge throughout our examine).
7. St. Petersburg, FL
St. Petersburg, Florida, has the second-best navy retirement friendliness rating thanks partly to having the Thirteenth-highest share of residents who're veterans ages 65 and over (3.59%).
This metropolis of 265,000 residents on Florida’s west coast additionally has the 18th-lowest estimated senior tax burden (14.51%) and Nineteenth-most retirement communities per 10,000 residents (1.39).
8. Roseville, CA
Roseville, California, ranks fifth general for navy retirement friendliness, together with the Twelfth-most retirement communities for each 10,000 residents (2.06).
Veterans who're 65 and older comprise 3.32% of the inhabitants on this northern California metropolis, the Seventeenth-highest share throughout our examine.
9. Honolulu, HI
Honolulu, Hawaii, is a superb place for veteran retirees, coming in at No. 9. The metropolis ranks Fifteenth general for veterans assets, together with the third-most VA advantages places of work (9.96 for each 100,000 veterans).
A metropolis of 345,000 residents, Honolulu additionally has an estimated senior tax burden of 14.89%, which is Twenty third-lowest out of all 200 cities in our examine.
10. Oceanside, CA
Positioned between Los Angeles and San Diego, town of Oceanside has the ninth-highest share of veterans who're 65 and older (3.72%).
Oceanside additionally ranks for its comparatively low share of veterans dwelling underneath the poverty line, 3.6%, which is the Twenty fifth-lowest throughout our examine.
Information and Methodology
To conduct our examine, we in contrast 200 of the most important cities within the U.S. throughout the next three classes of metrics:
Military Retirement Friendliness
- Share of the inhabitants who're veterans ages 65 and older. Information comes from the Census Bureau’s 2019 1-12 months American Neighborhood Survey. This metric was double-weighted.
- Retirement communities per 1,000 residents. Information comes from the Census Bureau’s 2019 County Enterprise Patterns.
- Estimated senior tax burden. This estimates the revenue and gross sales tax burden for seniors. Particularly, we calculated efficient revenue tax charges primarily based on a retiree incomes $35,000 yearly (from retirement financial savings, Social Safety and part-time employment). We subtracted revenue taxes paid from gross revenue to find out disposable revenue. From there, we factored in gross sales taxes, assuming disposable revenue was spent on taxable items. Information comes from SmartAsset’s tax calculators.
Assets for Veterans
- VA well being amenities per 100,000 veterans. Information come from the U.S. Division of Veterans Affairs and the Census Bureau’s 2019 1-year American Neighborhood Survey.
- VA advantages administration places of work per 100,000 veterans. Information come from the U.S. Division of Veterans Affairs and the Census Bureau’s 2019 1-year American Neighborhood Survey.
- Median veteran revenue. Information comes from the Census Bureau’s 2019 1-12 months American Neighborhood Survey.
- Share of veterans dwelling underneath the poverty line. Information comes from the Census Bureau’s 2019 1-12 months American Neighborhood Survey. This metric was double-weighted.
- August 2021 unemployment charge. Information comes from the Bureau of Labor Statistics and is taken at a county degree.
First, we ranked every metropolis in every metric. From there, we discovered the typical rating for every metropolis, giving all metrics a full weight besides for the 2 metrics that got a double weight. Then we averaged the rankings throughout the three classes listed above. We created our remaining rating by calculating every metropolis’s common rating for all three classes.