Best Places to Retire 2009

This is a fantastic time to buy the home to which you’ll retire, whether you’re a month or a decade from saying sayonara to the office. That’s because home prices in some sought-after retirement havens have plunged about 50% since the market peak, nearly double the national average. You might actually be able to afford a town you once only fantasized about, especially if you’ll be moving from a high-cost area.

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We pored through the numbers and quizzed real estate experts to identify places that offer terrific value for your housing dollar right now—plus good medical care, reasonable tax rates, lots to do, and plenty of company.  While no one can predict exactly when home prices will bottom, most forecasts are for sometime in 2010. If they’re right, you can take several months to shop around.

10 Best Places to Retire

Port Charlotte, Fla.

Courtesy: Charlotte Harbor & the Gulf Islands Visitor's Bureau

The Conquistador Cup Regatta, 2008

Population: 48,000

Percent over 50: 44%

Typical 3-bedroom home: $170,000

State income tax: None

Lots of places in Florida have been battered by the housing bust. But this laid-back Gulf Coast town, just across Charlotte Harbor from pricier Punta Gorda, arguably best hits the sweet spot of great prices and great amenities.

Homes here cost less than half what they did in late 2005, and about 40% of them sit on canals and waterways leading to the harbor — which has 270 square miles of cruising waters and 219 miles of protected shoreline.
—by Sarah Max

Palm Springs, Calif.

Courtesy: Palm Springs Bureau of Tourism

Population: 48,000

Percent over 50: 42%

Typical 3-bedroom home: $250,000

State income tax: 10.55% (top bracket)

It's easy to see the appeal of living in the desert town beloved by Frank Sinatra's Rat Pack. Residents get 332 days of annual sunshine, 360-degree views of the mountains, and as much culture and design as they can pack in.

They can see paintings and sculpture in the 125,000-square-foot Palm Springs Art Museum, landmark midcentury architecture by the likes of Richard Neutra and Albert Frey, and indie movies galore at the Palm Springs International Film Festival.
—by Sarah Max

Traverse City, Mich.

Courtesy: Traverse City Convention & Visitors Bureau

Population: 14,300

Percent over 50: 41%

Typical 3-bedroom home: $250,000

State income tax: 4.35% (top bracket)

You don't often hear of people moving to Michigan for the weather. But that's exactly what Susan and Alan Szepanski, 49 and 51, did. After working for the Alaska state government for a combined 55 years, they were able to retire early — and started searching for a new home. "I wanted a place with access to good medical care and lots of culture," says Susan. "Al wanted water." And both wanted four seasons — but winters less long, dark, and harsh than those in Juneau.

The couple found everything on their wish list in this pretty town on the northeast shore of Lake Michigan. Last April they paid about $500,000 for a brand-new, 3,100-square-foot Craftsman-style house with lake views.
—by Sarah Max.

Next: Pinehurst, N.C.; Surprise, Ariz.; and More

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