(The Center Square) – One South Carolina city was among the five best places in the U.S. to retire based on a new report by the personal finance website WalletHub.
WalletHub compared how friendly the 150 most-populated U.S. cities and at least two of the most-populated cities in each state were for retirees across four dimensions: affordability, activities, quality of life and health care. The website used 46 metrics to evaluate the four dimensions.
Each city’s weighted average across all metrics was used to calculate its overall score. WalletHub's sample considered only the city, not the surrounding metro area. The analysis assumed retirees will rely on a fixed income.
Charleston's overall score of 58.99 placed it third on the best-places-to-retire list. Charleston was sandwiched by four Florida cities in the top five: Orlando (61.02) was first, Tampa (60.17) was second, Miami (58.54) was fourth and Fort Lauderdale (58.31) was fifth.
Charleston ranked in the top 20 in one of the four dimensions: activities (18th). It ranked 29th in affordability, 56th in health care and 59th in quality of life.
Columbia (55.07) was ranked 18th on WalletHub's list. South Carolina's capital city ranked 11th in affordability, 67th in activities, 80th in health care and 86th in quality of life.
"Retirement is a long time. You are not choosing a place where you will live for a short period. Retirement is about one-third of your adult life," said Dr. Joseph Coughlin, director of the Massachusetts Institute of Technology AgeLab. "Therefore, where you live should have all the elements you would want to live well, not just walking the beach, golf course or even the occasional bike ride."
Scottsdale, Ariz.; Casper, Wyo.; Minneapolis; Jackson, Miss.; and Denver rounded out the top 10 best places to retire.
Montgomery, Ala., ranked first in affordability; Washington, D.C., was first in activities; Fremont, Calif., ranked first in quality of life; and South Burlington, Vt., topped the health care rankings.