Retirement is something that most people dream about throughout their working lives. Even if you love your job, you long for opportunities that retirement offers, and the ability to do whatever you want whenever you want.
Something that is very important when it comes to retirement, that a lot of people don’t think about, is where you are going to live. When you retire, you often have access to a pretty large lump sum, and this means that you can move wherever you want. And what better place to live out the rest of your years than in the Lone Star State?
Texas is large, and it is beautiful, and it offers lots of opportunities. You can connect with new people, you can see some outstanding sights, and you can have lots of fun while doing it. But, what is the best place to retire in Texas?
In this guide, we’ll be taking a look at some of the best places for retirement in Texas, so to find out more, keep on reading.
What Makes A Place Good For Retirement?
Before we take a look at where in Texas is good for retirement, let’s take a look at what makes a location ideal to retire to.
At first, you might expect things such as the types of houses available, and the attractions that a place offers will be the largest influence on what makes a location ideal for retirement. But this isn’t the case. Instead, there are 4 things that you should look for in a retirement location.
These 4 things are: low cost of living, easy access to childcare, reduced taxes, and good amenities. These things will allow you to live a comfortable and stress-free life.
They will also ensure that your retirement fund is not wasted on excessively high bills and housing, meaning that you can spend it on doing things that you have always dreamt of.
Of course, there are some other things that will make a location good for retirement. A lot of the time, these will be influenced by personal preference. But, things such as good weather, excellent public transport links, and a good community spirit also play a big factor.
With these things in mind, is Texas a good State to retire to?
Is Texas A Good State To Retire?
All in all, yes, Texas is a good State to retire. Texas is the second-largest State both in terms of land-size, and population. This means that there are lots of outstanding locations for you to retire to, and lots of great people to meet too. But, this isn’t what makes Texas a great retirement location.
Instead, the main thing that makes Texas attractive to people who are looking to retire is the fact that it is a tax-friendly state for those who are retiring.
Texas doesn’t have a State income tax, and because of this, retirees will not have to pay tax on their social security benefits, or any other retirement income. This means that you can really make the most of your retirement fund.
While this is the leading factor that makes Texas a great place for retirement, there are some other things that attract retirees to the Lone Star State.
These factors include low cost of living, and a great climate. But, like everywhere, there are some areas in Texas that are better for retirement than others. So, let’s take a look at the best places to retire in Texas.
Best Places To Retire In Texas
If you are planning to retire to Texas, then you probably want to know the best locations for this. Texas is a beautiful State, but some areas are better for retirement because the cost of housing is lower, and they have better amenities.
A lot of the time, the better retirement locations will be cities, simply because they offer so much opportunity to explore and enjoy. But where in Texas is the best place to retire? Let’s take a look at some of the best options.
First up, we have Austin. Austin is perhaps the most well-known city in Texas, and this is primarily because it is the State Capital. A lot of the time, it is the State capitals that really attract people to live in them. This is usually because they are filled with opportunities.
Austin has a population of more than 2 million people, and it has a relatively low cost of living. Rent for a house in Austin costs an average of $1,200, and mortgages in Austin typically cost around $1,900 a month.
This is more expensive than other areas of Texas, but you have to remember that you will be living in the State capital. It is also important to know that there are ways that you can reduce your housing costs if you have retired.
But, there are two major things that attract retirees to Texas. They are the outstanding hospitals in the area, and the University of Texas. Austin is home to some of Texas’s best hospitals, so it is outstanding if you are worried about health issues in older age.
It is also home to the University of Texas, where seniors over the age of 65 can study for free. So, it is easy to see why a lot of people choose to retire in Austin.
Dallas Fort Worth
Alternatively, you might decide to retire to the Dallas-Fort Worth area. Dallas and Fort Worth are two separate cities, but they are located so close to each other that they almost form one. This means that retirees can retire to anywhere within this region, and have easy access to both cities.
Between them, Dallas and Fort Worth have a massive population. For many years, they have been attracting more and more residents year on year. There is one major reason for this, and this is the fact that housing costs in both Dallas and Fort Worth are incredibly affordable. Especially when you consider that you will be living in a city.
But, this isn’t the only good thing about these cities. Both Dallas and Fort Worth are home to some incredible attractions and museums. Likewise, they offer outstanding health care, meaning that you will be well supported if you fall ill.
But, most importantly, these cities are home to plenty of sporting teams. So, if you want to spend your retirement watching lots of sports, you know where to go.
If your dream of retiring to Texas involves moving near the Gulf of Mexico, then Brownsville could be the perfect retirement location for you. Brownsville has a relatively low population of around 800,000 people, and the cost of living is very low. If that isn’t enough to attract you to this city, it is also very close to the beach.
The main thing that attracts people to Brownsville is its warmer climate. A lot of people dream of retiring to warmer places, and this is why many people retire to Texas. The warmest areas in Texas are all located along the south coast. This city is also a popular destination for Texans to holiday during the colder months.
Brownsville offers incredible views of the water, and lots of historic architecture. Additionally, it is full of beautiful parks for you to explore, all of which are packed with nature. So, if your dream for retirement is to escape to a city that also allows you to be at one with nature, Brownsville might be the right location for you.
Alternatively, if you want a city with an even smaller population, and a much more laid back culture, then Corpus Christi is made for you. This city is located on the South-west coast of Texas, and this means that it is incredibly close to the Gulf of Mexico. Just like Brownsville.
The main thing that attracts retirees to Corpus Christi is how calm and peaceful it is there. When you retire, you likely don’t want to be surrounded by people, and you don’t want the usual hustle and bustle of city life. But, you may still want the amenities that cities offer. That is why you should consider Corpus Christi.
With over 70 miles of coastline, nature centers, botanical gardens, and aquariums, there are lots of places to explore and relax in Corpus Christi. Plus, the cost of living is low too. So, this is definitely a place to consider if you are thinking of retiring.
Finally, you should consider El Paso. We had to include El Paso on this list because it is one of the most affordable places for renting in the whole of Texas. So, it is a great location if you want to sell your home to free up some cash, and rent for the rest of your retirement.
If you love to exercise, and you want to spend a lot of your retirement walking and exploring, then El Paso is great. This city is home to the Franklin Mountains State park, and this park offers lots of opportunities to explore and be at one with nature, without even having to leave the city.
El Paso has a relatively small population, and for this reason, it is possible to find peace and tranquility in this city, without having to leave behind the amenities that cities offer. So, if you want to move to a city that is affordable, and packed with opportunities to explore and do new things, El Paso is definitely a place to consider.
In short, Texas is often considered an outstanding place to retire because it is a tax-friendly State. This means that you will not pay taxes on any of your retirement money.
So, you can spend it as and when you wish, without having to lose any money to tax. There are some areas of Texas that are better for retirement than others, we have looked at these in this complete guide.