When you add up insurance, tolls, maintenance, parking, filling up, and repairs, owning a car is one of the fastest ways to drain your bank account. And when it comes to environmental costs, gas-guzzling vehicles certainly aren’t the ideal form of transportation.
That’s why walkable cities are growing in popularity among visitors and potential residents. For retirees with tight budgets, car-free communities are especially attractive when looking for a new place to call home. Alternate sources of transportation like walking and biking can be great for contributing to physical health, and you might find your social circle starts to expand when you’re no longer spending so much time sequestered in your car.
GOBankingRates set out to find the absolute best places in the U.S. to spend retirement without a car. It named Wilton Manors, Florida, the best place to retire, no car necessary.
A suburb of Fort Lauderdale, Wilton Manors has a $73,020 annual cost of living. It scored 17 out of a possible 20 in walkability, and 91 out of 100 in livability.
The small city was named the most livable in the U.S. in another study conducted by GOBankingRates earlier this year. It’s also notable for having a vibrant LGBTQ community, including a dedicated museum. A location between the North and South Forks of Middle River inspired its affectionate nickname, “Island City.”
To come to these findings, the finance website identified cities with a population that is at least 20 percent 65 or older, then used the Environmental Protection Agency’s National Walkability Index to determine how feasible it is to live in each without getting behind the wheel. It also took into account mean and median household incomes, average mortgage, transportation-related expenses, livability scores sourced from AreaVibes, and average expenditure costs for retired consumer units in each city.
The Sunshine State was the clear winner of the study overall, nabbing five spots on the list of the top 50. Relishing a hefty supply of warm, sunny days and not spending a cent on income tax is surely a fantastic way to enjoy one’s golden years.
Tavares, Florida, was the state’s next city on the list at No. 16. Known as the “Seaplane City,” it’s located just 32 miles northwest of Orlando. Newport Richey on Florida’s west coast came in at No. 24, followed by Miami Springs (No. 31) and North Port in Sarasota County (No. 49).
Lexington, Massachusetts; Metairie Louisiana; Rockville Centre, New York; and Oceans Springs, Mississippi rounded out the top five. To learn more, visit gobankingrates.com.