If you’re contemplating retirement and have your sights set on the New York metro area, a recent study by personal finance website WalletHub may give you pause. The findings reveal that the region, especially Yonkers, is far from ideal for those seeking a serene retirement haven.
The WalletHub study looked at 182 cities across the United States. It took into account 45 differently weighted metrics. These metrics are grouped into the following categories.
- Quality of life
Yonkers, New York’s third largest city resting just north of the Big Apple, did not shine in any of these categories. Overall, it ranked a lowly 160 out of the 182 cities on the list. The city’s total score was 41.99. This is compared to the top-ranked city of Tampa, Florida with a score of 59.93.
Breaking down each category
One of the most concerning aspects of retirement in Yonkers is its affordability, or rather the lack thereof. The city received a dismal rank of second to last. Only New York City was worse. This makes it one of the least affordable places to live for retirees. With high living costs, housing expenses, and property taxes, Yonkers may strain the budgets of those on fixed retirement incomes.
Quality of life in Yonkers, however, is much better, with a ranking of 54th. This includes factors such as crime rates, weather, and overall well-being. While Yonkers offers some picturesque spots along the Hudson River, it can fall short in providing a consistently comfortable and enjoyable environment for retirees.
Healthcare-a crucial consideration for retirees-stepped Yonkers up to 26th place. Access to quality medical services is vital as people age. But, Yonkers seems to still have room for improvement in this area.
When it comes to leisure activities, Yonkers dipped back down to on 68th out of the 182. Retirees often seek opportunities for cultural enrichment, entertainment, and recreation. However, Yonkers doesn’t seem to offer this in abundance compared to many cities.
While Yonkers may not be ideal for retirees in the area, it’s essential to remember that individual preferences vary. Some may still find its proximity to New York City and charming neighborhoods appealing. However, for those seeking affordability, a high quality of life, and abundant activities in retirement, Yonkers may not be the most favorable destination. Before making any retirement decisions, it’s wise to carefully consider the factors that matter most to you and explore alternatives that align with your retirement goals and budget.