Survey Examines Weather, Crime, Cost Of Living, Other Metrics
According to a survey out this month from Bankrate, Phoenix is the top US metro area for retirement. The survey examines metrics including “cost of living, weather, crime rate, health care, taxes, walkability and the well-being of seniors living in the area,” TIME reported. USA Today noted that reasons for Phoenix’s high ranking included “unparalleled weather and low property taxes,” according to Bankrate research and statistics analyst Chris Kahn. Kahn explained, “It’s just a great place for a low-maintenance, outdoor type of lifestyle.” Additionally, he added, “your dollar is going to stretch further in Arizona.”
On the opposite end of the survey’s results, the New York Post notes that New York City was ranked the worst place to retire out of the 172 large cities in the survey, particularly on measures of the cost of living and taxes.
In a press release about the survey’s results, Kahn explained, “We ranked the cities on factors that matter most to seniors, but recognize that every city has its pros and cons that will be shaped by each individual’s personal experiences.” The survey pulled data from numerous sources, including FBI crime rates, NOAA weather statistics, state tax rate calculations from the Tax Foundation, Walkability scores from Walkscore.com, and other government data on health care and cost of living.
What This Means For Small Businesses
Phoenix-area small businesses need assurance they’ll have access to a diverse consumer base. High-profile stories suggesting a demographic might want to live in Phoenix could help draw more potential customers to the Phoenix area, helping local businesses thrive. Additionally, a city that rates high in affordability for retirees will also likely be a more affordable place to do business.
Additional Reading
Fortune and ABC News are among the other outlets that covered the Bankrate survey’s results.
