Pennsylvania Town Named Most Affordable Place to Retire

Most people probably have no concept what the perfect little town in America is like to retire to. However, Camp Hill in Cumberland County, Pennsylvania, may be the greatest tiny town in the country for retirees due to its extremely livable environment, low crime rate, and quite inexpensive average monthly cost of living.

According to a GoBankingRates.com survey, which examined small communities with a population of 1,000 and 10,000 and focused on the ideal retirement, this is the case. Apart from the aggregate population of households and the average household income of every town, the researchers procured information on average rental and living expenses, crime rates, and "livability" metrics that consider local amenities, housing options, transit facilities, and other related aspects.

Some of the Best Small Towns in the US

Camp Hill had the greatest overall score and livability rating out of the 44 small towns included in the report's list of the best places to retire. Second place went to Northville, Michigan, while third place went to Fort Mitchell, Kentucky. Completing the top four list of retirement destinations is Freeport, Maine, which has a good livability rating despite higher monthly costs and a higher crime rate.

Having a population of little over 8,000 and around 3,200 homes with median incomes of roughly $105,000, Camp Hill is also among the most reasonably priced areas in the nation. According to the research, residents there should budget around $3,360 per month for living expenses, which include rent and other bills. In contrast, the average monthly cost of living in Kensington, California, a town of 5,300 inhabitants, is $8,000.

While some small towns had lower monthly expenses, they scored worse in the livability area.

A Vibrant Community

According to Visitcumberlandvalley.com, Camp Hill, which is two miles from Harrisburg, the state capital, boasts a thriving small-business culture, with the majority of its owners being women. Additionally, it is the location of the renowned Cleve J. Fredricksen Library. From May through October, there is a farmer's market during the week.

Granted, a growing number of Americans choose to work past the age of 65 out of need, meaning that not all of them can afford to retire as soon as they'd planned. According to a poll conducted by financial services company Credit Karma, over 27% of adults 59 years of age or older had no retirement savings.

According to labor economist and retirement expert Theresa Ghilarducci's book "Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy," only 10% of Americans between the ages of 62 and 70 are both financially stable and retired. The remaining 90% are either retired and living less comfortably than they once did, or they are still working out of necessity.

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