Best Places to Retire 2009

This is a fantastic time to buy the home to which you’ll retire, whether you’re a month or a decade from saying sayonara to the office. That’s because home prices in some sought-after retirement havens have plunged about 50% since the market peak, nearly double the national average. You might actually be able to afford a town you once only fantasized about, especially if you’ll be moving from a high-cost area.

We pored through the numbers and quizzed real estate experts to identify places that offer terrific value for your housing dollar right now—plus good medical care, reasonable tax rates, lots to do, and plenty of company. While no one can predict exactly when home prices will bottom, most forecasts are for sometime in 2010. If they’re right, you can take several months to shop around.

10 Best Places to Retire

Port Charlotte, Fla.

Courtesy: Charlotte Harbor & the Gulf Islands Visitor's Bureau

The Conquistador Cup Regatta, 2008

Population: 48,000

Percent over 50: 44%

Typical 3-bedroom home: $170,000

State income tax: None

Lots of places in Florida have been battered by the housing bust. But this laid-back Gulf Coast town, just across Charlotte Harbor from pricier Punta Gorda, arguably best hits the sweet spot of great prices and great amenities.

Homes here cost less than half what they did in late 2005, and about 40% of them sit on canals and waterways leading to the harbor — which has 270 square miles of cruising waters and 219 miles of protected shoreline.
—by Sarah Max

Palm Springs, Calif.

Courtesy: Palm Springs Bureau of Tourism

Population: 48,000

Percent over 50: 42%

Typical 3-bedroom home: $250,000

State income tax: 10.55% (top bracket)

It's easy to see the appeal of living in the desert town beloved by Frank Sinatra's Rat Pack. Residents get 332 days of annual sunshine, 360-degree views of the mountains, and as much culture and design as they can pack in.

They can see paintings and sculpture in the 125,000-square-foot Palm Springs Art Museum, landmark midcentury architecture by the likes of Richard Neutra and Albert Frey, and indie movies galore at the Palm Springs International Film Festival.
—by Sarah Max

Traverse City, Mich.

Courtesy: Traverse City Convention & Visitors Bureau

Population: 14,300

Percent over 50: 41%

Typical 3-bedroom home: $250,000

State income tax: 4.35% (top bracket)

You don't often hear of people moving to Michigan for the weather. But that's exactly what Susan and Alan Szepanski, 49 and 51, did. After working for the Alaska state government for a combined 55 years, they were able to retire early — and started searching for a new home. "I wanted a place with access to good medical care and lots of culture," says Susan. "Al wanted water." And both wanted four seasons — but winters less long, dark, and harsh than those in Juneau.

The couple found everything on their wish list in this pretty town on the northeast shore of Lake Michigan. Last April they paid about $500,000 for a brand-new, 3,100-square-foot Craftsman-style house with lake views.
—by Sarah Max

Pinehurst, N.C.

Courtesy: Pinehurst Resort

Population: 12,000

Percent over 50: 57%

Typical 3-bedroom home: $300,000

State income tax: 7.75% (top bracket)

Most Americans know this town as the home of Pinehurst Resort, which contains one of the country's oldest and most prestigious golf courses. Yet it's also a friendly year-round community with a bustling downtown, firstrate regional hospital, and mild weather.

Granted, at $300,000, the typical home in Pinehurst isn't rock-bottom cheap. But all residents are eligible for membership in the resort, which boasts eight golf courses, 24 tennis courts, three pools, and a 200- acre lake with a beach. If you buy a home from someone who already has a membership, you can pay $12,000 to join vs. $40,000 normally.
—by Sarah Max

Surprise, Ariz.

Courtesy: City of Surprise

Population: 91,000

Percent over 50: 43%

Typical 3-bedroom home: 150,000

State income tax: 4.54% (top bracket)

This fast-growing community outside Phoenix is named after the hometown of the man who founded it in 1938, but Surprise could just as easily describe what people feel when they look at the real estate listings. "You can scoop up a great house for less than $100,000," says local agent Meredith Andrews.

Locals can watch baseball at Surprise Stadium (the Kansas City Royals and Texas Rangers both do spring training here), cool off at the town's 10,500-square-foot aquatics center, and check out ancient petroglyphs at a nearby 30,000-acre park. Nearly 20% of residents live in Sun City Grand, a resort-like retirement community that offers reams of activities--tennis, golf, wine tasting, and more. (The original Sun City is a few miles down the road.)
—by Sarah Max

Boulder City, Nev.

Courtesy: City of Boulder City

Mountain bikers ride Bootleg Canyon Park's 36-mile Epic Mountain Bike Trail

Population: 14,900

Percent over 50: 49%

Typical 3-bedroom home: $315,000

State income tax: None

What happens in Las Vegas stays in Las Vegas, and that's fine with residents of this gambling-free town (a rarity in Nevada), who get all the benefits of living 20 miles from Sin City without having to constantly contend with the tourist set. Federal workers build Boulder City in the 1930s to house workers constructing the Hoover Dam just six miles away. The dam remains a major tourist attraction, and it created boat-friendly Lake Mead.

In the summer, the thermometer regularly cracks three digits, but Boulder City residents get outside anyway. Local Bootleg Canyon offers a range of hiking and mountain biking trails, and a new zip line for the extra adventurous. The city has a variety of public recreation facilities, including two golf courses and a year-round pool and racquetball complex.
—by Beth Braverman

Fredericksburg, Texas

Photo: Peggy Crenwelge, Courtesy: Fredericksburg Chamber of Commerce

Bronze sculptures in Fredericksburg's Market Square

Population: 10,900

Percent over 50: 40%

Typical 3-bedroom home: $220,000

State income tax: None

Retirees flock to Fredericksburg for its warm weather and the income tax-free living afforded by Texas. Outdoor recreation abounds in the multiple parks in Fredericksburg. The largest, the 150-acre Lady Bird Johnson Municipal Park, offers lake fishing, a 72-par golf course and an Olympic-size pool for swimming. The snaking roads and rolling hills throughout the region draw both bicyclists and motorcyclists. For urban adventures, residents can reach both San Antonio and Austin in less than an hour.
—by Beth Braverman

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