10 Least Affordable Cities for Retirees To Grow Old at Home
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10 Least Affordable Cities for Retirees To Grow Old at Home
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Original article: https://www.aol.com/articles/10-least-affordable-cities-retirees-150007709.html
This report examines the growing financial challenges of aging in place across various major American metropolitan areas. It highlights how housing costs, property taxes, and rising insurance premiums have created a significant affordability gap for those on fixed incomes. The text identifies specific cities like San Francisco, New York, and Miami as particularly difficult for seniors due to the high cost of living and healthcare. In many of these locations, Social Security benefits cover only a small fraction of monthly expenses, forcing retirees to seek alternatives. Consequently, many individuals are choosing to relocate to more affordable regions or adopt shared-housing models to maintain their financial independence. Overall, the source provides a sobering look at the economic barriers preventing many Americans from spending their retirement years in their long-term homes.