#5 Austin, Texas
Austin comes in at number 5 on our list with a huge discrepancy when it comes to the cost of a mortgage when compared with renting, which is definitely going to make you feel like renting here is the best choice if you want to join the retirement community of this Texan city! Rent comes at an average of $1,871, which may seem pretty steep, but when you look at the average mortgage costs that reach around $4,150, it will definitely seem like a breeze by comparison.
What’s more, Texas is one of the friendliest states when it comes to taxing retirees. They do not have taxes for private or public pensions, nor do they tax withdrawals from your retirement accounts, and neither will they tax the income you make from Social Security! This means that your nest egg is not going to deplete because of the taxes that many retirees fail to take into consideration.
Even better, Austin is known for its embrace of the arts and cultural activities, in addition to its thriving live music scene, amazing restaurants, and nightlife if you’re into that.
Otherwise, you will be able to stay active easily since Austin is known to be full of nature, with close golf courses and a ton of outdoor activities that all retirees can enjoy, including cycling, hiking, and even swimming in the underground springs that are close to the city!
If you love big city life, Austin is definitely the way to go!
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