Study ranks Springfield among Top 10 places to retire in Midwest

Published: Mar. 12, 2022 at 3:14 PM CST
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SPRINGFIELD, Mo. (KY3) - A new study from SmartAsset, a financial technology company, ranks Springfield, Missouri, among the Top 10 place to retire in the Midwest.

The study named Springfield the tenth best city in the Midwest for retirement. SmartAsset compiled data from nearly 100 Midwestern cities and considered several criteria in the rankings.

Among the criteria considered

  • Percentage of the population that is retirement age
  • Housing costs as a percentage of average retirement income
  • Estimated senior tax burden
  • Residential communities
  • Medical centers
  • Violent crimes
  • Property crimes
  • Unemployment

The study shared the following metrics in Springfield:

  • Percent of population older than 65: 15.54%
  • Housing costs as a percent of retirement income: 17.86%
  • Senior tax burden (based on income and sales tax estimates): 15.57%
  • Retirement communities per 10,000 residents: 1.16

Only one other Missouri city finished higher in the study with St. Charles ranking ninth. The study named Troy, Michigan as the top U.S. Midwestern city for retirement.

A report released last year by the the U.S. News and World Report named Springfield, Missouri, among the top 100 cities to retire in the United States of America.

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