Money Magazine

20 Best Places for Retirement MONEY’s exclusive rankings show what retirees want when relocating – and the top towns in America that provide it.

Author: Lesley Alderman
Date/Issue: March 15, 1994 Edition
Section: Where to Live

Let the applause begin. The best places to retire are, in order: Prescott, Ariz.; Fairhope, Ala.; Mount Dora, Fla.; Las Vegas; and Chapel Hill, N.C. That is the consensus of a board of seven experts who helped MONEY choose the top 20 retirement locations in the U.S.

We first asked the experts what retirees want when they relocate. From the answers, we drew up a wish list of 10 attributes, led by low crime rate, mild climate, affordable housing, attractive environment, proximity to cultural and educational activities, strong economic outlook and excellent health care. We then asked the experts to rank the 20 towns in America that best fulfilled the wishes. With their final responses, we rewarded points on a sliding scale of 20 for a No. 1 choice down to one point for a No. 20.

You’ll find our 20 choices ranked in a table on page 69, along with vital information about each, such as cost of living, average home price, tax rates and weather. What these places have in common is an abundance of available activities, since our experts find today’s retirees to be as energetic as when they had full time jobs. Indeed, as more people leave the work force younger (the median retirement age is now 62.6, down form 67 in the early 1950’s) and stay healthy longer, their idea of retirement is changing. "Retirement used to be viewed as an extended vacation," says Mark Fagan, a professor in social work at Alabama’s Jackson State University who has studied retirees for a decade. "These days it’s seen as an opportunity to pursue neglected hobbies, take a part-time job or become involved in community activities."

Each year about half a million Americans in there sixties make the move to new hometowns. For many this is the first time that they have been able to choose a community they actually like, rather than one that is merely close to work, the right schools or a convenient commuter train. And the choice can be most invigorating. "By making a complete change in venue, we could start fresh," says Hugh Chapin, 68, who left Lexington, Mass. last year with his wife Joan, 62, for a village outside Chapel Hill, N.C. "Retirement wouldn’t have been this exciting if we had stayed in the community we had lived in for 40 years."

For a start in helping you learn what to look for, here are detailed reports, in order of rank, on the five retirement places at the top of our list:

1. PRESCOTT, ARIZ.
2. FAIRHOPE, ALA.

Newcomers are heartily welcomed to this balmy town, where flowers bloom in window boxes year round and crime is practically nonexistent.

On the Eastern Shore of Mobile Bay, tiny Fairhope (pop. 9,000) is a congenial and lively community in a splendid setting. Majestic live oaks line the streets, Spanish moss hangs languidly from the telephone wires. Many homes have a view of the placid bay, and the 1,450-foot town pier serves as a local gathering spot. One of the first communities in Alabama to put a horticulturist on the city payroll, Fairhope is lush with flora. More than 110 flower baskets adorn the streetlights and telephone poles; each year 200 to 250 new trees are planted along city streets and in parks.

Unlike many small, century-old communities, Fairhope heartily welcomes newcomers. "We have been saying here," says Mayor James P. Nix "If you’ve been here a year, you’re already a native." Perhaps that is why so many retirees have settled here; 23.3% of the population is over 65.

Many artists and writers are also drawn to Fairhope’s open-minded community. Fannie Flagg wrote her best-selling novel, Fried Green Tomatoes at the Whistle Stop Café, here. The Eastern Shore Arts Center draws on residents to teach pottery, figure drawing and painting. And for more than 42 years, Fairhope has been hope to an arts and crafts festival that attracts more than 450 exhibitors from 25 states.

You can quickly become immersed in the community by joining the 1,200-member Adult Recreation Center ($10 a year), which has a daily roster of activities that range from video exercise classes to t’ai chi to bridge. The center’s Big Band dances attract folks from as far away as Mobile and Pensacola, Fla. If your travel-minded, you can join the ambitious Baldwin Senior Travelers, which organizes 30 to 40 trips a year to places as far away as New York City and San Juan, Puerto Rico. And of course, there is always golf; the town has three scenic courses.

James, 73, and Evelyn Robb, 72, who moved here from Florida’s West Palm Beach last August, found relief in Fairhope’s friendly residents and safe streets. "What you hear in the news about crime in southern Florida is just a fraction of what goes on," says James. "Five women we knew were mugged over the past few years, and burglaries were common."

Home prices range from $75,000 for a small two-bedroom bungalow to $500,000 for a three to four bedroom house on the bay. The Robbs built a 1,850 square foot, three bedroom house for $150,000 in Homestead, a community for people over 55, with its own village square, medical center, fitness club, bakery and bed-and-breakfast inn.

Fairhope has an excellent medical facility, Thomas Hospital, with 56 staff doctors, including specialists in neurology and orthopedic surgery. True evidence of Fairhope’s civic-minded citizens: Thomas has a volunteer staff of 300, the largest of any hospital in the state.

You have to like balmy weather to be happy in Fairhope. The town gets 66 inches of rain a year, and the humidity can reach an oppressive 90% or more in the summer. But the average temperature is only about 60 degrees in the winter, and the flower boxes are in colorful bloom year round.

3. MOUNT DORA, FLA.
4. LAS VEGAS, NEV.
5. 5. CHAPEL HILL, N.C.