What's Happening?
GOBankingRates has released a list of the safest and wealthiest retirement towns in America, highlighting Fort Lee, New Jersey, as a notable inclusion. The list was compiled using data from the U.S. Census
American Community Survey, the Bureau of Labor Statistics Consumer Expenditure Survey, and other sources. Fort Lee, located just across the bridge from Manhattan, was ranked 12th and is the only town from the tristate area to make the list. The town boasts a high livability score of 88, attributed to its low crime rates and proximity to Manhattan's amenities. The average annual retirement income in Fort Lee is $47,944, with single-family homes averaging $939,775 in value. The list also includes towns from California and Arizona, with Oro Valley, Arizona, taking the top spot.
Why It's Important?
The identification of Fort Lee as a prime retirement location underscores the shifting dynamics of retirement preferences in the U.S. Traditionally, Florida has been seen as the go-to retirement destination, but its absence from the list suggests a change in priorities among retirees. Factors such as safety, access to urban amenities, and community livability are becoming more significant. This trend could influence real estate markets and local economies in these areas, as more retirees may choose to relocate to towns like Fort Lee. The emphasis on safety and wealth in retirement planning highlights the growing importance of financial security and quality of life for aging populations.
What's Next?
As more retirees consider relocating to towns like Fort Lee, there may be increased demand for housing and local services tailored to older adults. This could lead to economic growth in these areas, with potential investments in healthcare, leisure, and community services. Local governments may also need to adapt infrastructure and policies to accommodate an aging population. Additionally, the trend could prompt other regions to enhance their appeal to retirees by improving safety, amenities, and livability scores.
