Thinking of moving to a new city for retirement? Look no further than Oklahoma City, Oklahoma.
US News places Oklahoma City within the top 100 best places in the US for retirement, and with good reason. Below you’ll find an explanation of some of the top reasons why OKC is an ideal location for retirees.
Oklahoma City Offers an Affordability and Vitality
There are a variety of lifestyle factors that attract people from all age groups to Oklahoma City – including retirees. One of those factors is low housing prices. According to the National Association of Realtors, the median home sold price in Oklahoma City is $145,000, which is well below the national median price of $218,000. Other life expenses such as groceries and utilities, as well as nonessential expenditures like dining out and entertainment, are also cheaper than they are in other US metro areas
Another strong factor that draws people to Oklahoma City is the air of vitality. The city is becoming increasingly more cosmopolitan in feel thanks to a growing dining and entertainment scene, but throughout this growth, OKC remains strongly influenced by its Western heritage. Retirees can enjoy a rich cowboy history festivals, horse shows, museums and more – especially in the famed Stockyards City district.
Oklahoma City Offers Continuing Employment Opportunity
If you are ready to move to a new city for retirement, but are not quite ready to fully retire, Oklahoma City is a good bet when it comes to continued opportunity for work. Settling into a new home and continuing to work for a few years is a perfect way to ensure you have a big enough savings nest to retire comfortably.
The city offers a booming market for people seeking careers in energy, aviation and health care, as well as for skilled industrial workers like machinists, pipe fitters and welders. According to US News, the largest employers in Oklahoma City are AT&T, Hobby Lobby, Mercy Health Center, Devon Energy, Sonic Corporation and the Federal Aviation Administration, and the average annual salary is $45,280. The unemployment rate is the area is consistently lower than the national unemployment rate.
Oklahoma City is Tax Friendly for Retirees
Finding a tax-friendly environment is a crucial strategy in ensuring your income during retirement can be stretched as far as possible. The tax system in the “Sooner State” is ideal for budget-conscious retirees. The state fully exempts Social Security retirement benefits from taxation. Oklahoma also provides a $10,000 deduction toward other types of retirement income such as income from a 401(k) or a pension. Although sales taxes in Oklahoma are high, property taxes are among the lowest in the country. All of this translates to an easier time living on a fixed income during retirement.
Oklahoma City Is Home to a Diverse Set of Senior Living Options
Buying a new home for retirement is not the best decision for everyone. For some retirees, the peace of mind in having someone nearby if problems arise is well worth the slight reduction in independence. Oklahoma City is home to several different senior living options.
If you are healthy enough to live on your own, but would rather not have to deal with home maintenance activities like lawn care or snow removal, a retirement community in Oklahoma City could be a great option for you. These communities, also commonly referred to as “55-plus” communities, offer you the chance to live on your own while also providing amenities to help keep your life as simple as possible. These amenities can include:
Common area maintenance
Exterior building maintenance
- Termite extermination, if needed
Retirees with complex health needs or concerns with mobility would do well to look into assisted living for retirement. Assisted living facilities have staff members that assist with activities of daily living such as managing medications, bathing or keeping up with general housework, There are many highly rated communitities living facilities in Oklahoma City, OK and more in neighboring cities. The average monthly cost for living in one of these facilities in OKC is $3,339, which is well below the national average of $4,000 per month.
Ready to get started on your OKC retirement journey? Contact the experienced real-estate agents with OKCHomesellers today!