City News

Posted on: March 31, 2017

Beachwood Tops the List of Best Places to Retire in Ohio

Smart_Chart

Beachwood, Ohio- Beachwood was recently ranked the best place to retire in Ohio, according to a recently released study by SmartAsset. The study rates cities by their tax friendliness, recreational and social opportunities for seniors, and availability of medical care.

“We are honored to receive this top ranking,” said Beachwood Mayor Merle S. Gorden. “Beachwood has long had an active, engaged flourishing senior community. I believe a large part of that is because of the investments we’ve made in programs to support them.”

The City of Beachwood has an extensive list of recreational and community programs for seniors as well as an active transportation service. This year, the City enacted a 50% discount for seniors to the City’s state of the art Family Aquatic Center in summer months making a seasonal pass just $25.

The table pictured offers a detailed look at how Beachwood compared to other top cities in Ohio. (Visit https://smartasset.com/retirement/retirement-calculator?year=2017#ohio for a closer look.)

Methodology, according to Smart Asset: A happy, healthy retirement depends a lot on location. To find the best places to retire, SmartAsset gathered data on three separate regional factors that affect the quality of life for retirees.

First, we looked at state and local tax rates, considering two types of taxes: income and sales. We calculated effective rates based on a typical retiree, earning $35,000 annually (from retirement savings, social security or part-time employment), and spending their disposable income on taxable goods. Next, we determined the number of doctors’ offices, recreation centers and retirement centers per thousand residents in each area. Finally, we found the number of seniors in each area as a percentage of the total population.

In our final analysis, we ranked each county and city on these three factors, and calculated an average ranking for each area, weighting the three factors equally. The areas with the lowest average ranking are the best places to retire.

Read more on the SmartAsset Best Places to Retire study: https://smartasset.com/retirement/retirement-calculator?year=2017#ohio

Facebook Twitter Google Plus Email