New Yorkers ready to retire and leave the bustle of the big city need not travel far.
Milford, Connecticut, a quiet, quaint coastal community just 90 minutes from Manhattan, has just been named one of the top towns in America for upper-middle-class retirees.
The seaside town was ranked third in a new list compiled by GOBankingRates, which looked at livability scores and the annual cost of living in areas with a larger-than-average population of people over 65.
Using the Pew Research Center’s definition of “middle-class,” they designated upper-middle-class communities as ones where the annual cost of living comfortably ranged from $120,896 to $155,438.
Dover, New Hampshire, was named the top US town for upper-middle-class retirees, thanks to its outstanding livability scores and the fact that there are no taxes on Social Security payments.
Laguna Woods, California, came in second — a surprising fact given that it’s located in notoriously pricey Orange County.
However, the SoCal enclave is one of the most affordable in the area, as it’s an age-restricted community for people aged 55 and over. The average home value there is $536,665, while in Laguna Beach — just a 12-minute drive away — the average home value is around $3.3 million.
Meanwhile, Milford was ranked third, with an overall livability score of 88, thanks to its access to amenities, low-crime rate, and civic-minded spirit.
The town hosts several parades and festivals over the course of the year, including its famed annual Oyster Festival each August.
The average home value in Milford $530,266, while the annual cost of living comfortably is $127,612.
The GOBankingRates list featured 50 towns, with only a handful of other Northeast towns making the cut.
Portland, Maine, was named the eighth top town for upper-middle-class retirees, while Saratoga Springs, New York, came in at number 30.
Top 10 US Towns of Upper-Middle-Class Retirees
- Dover, New Hampshire
- Laguna Hills, California
- Milford, Connecticut
- Ashland, Oregon
- Wheaton, Illinois
- Coconut Creek, Florida
- Coeur d’Alene, Idaho
- Portland, Maine
- Arlington Heights, Illinois
- Royal Palm Beach, Florida
