Considered by many as the perfect small town in the U.S. for retirees, Camp Hill in Pennsylvania's Cumberland County offers a serene and affordable retirement option. With a relatively low average monthly cost of living, a low crime rate, and a high level of livability, Camp Hill stands out among small towns across America.
This assessment comes from a recent report by GoBankingRates.com. The report focused on small towns with populations ranging from 1,000 to 10,000, aiming to identify the most suitable retirement destinations. Researchers analyzed various factors including the total number of households, median household income, average rental and living costs, crime rates, and overall livability. This comprehensive approach considered amenities, housing options, transportation services, and more.
Other small towns offered similarly low monthly expenditures, but earned fewer points in the livability category.
Retirement at 65 out of reach for most Americans
Located two miles from Harrisburg, the state capital, Camp Hill claims to have a vibrant shopping scene, made up of small businesses, a majority of which are owned by women, according to Visitcumberlandvalley.com. It's also home to an award-winning library, the Cleve J. Fredricksen Library. And a weekday farmer's market runs from May through October.
To be sure, not all Americans can afford to retire as early as they'd expected, with an increasing share of workers remaining employed, or striving to remain employed, past the age of 65, out of necessity. About 27% of people who are 59 or older don't have any money saved for retirement, according to a survey from financial services firm Credit Karma.
Only 10% of Americans between the ages of 62 and 70 are both retired and financially stable, labor economist and retirement expert Theresa Ghilarducci shows in her book "Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy." The rest are either retired and living less comfortably than they once did, or still working out of financial necessity.
Discover the complete list of the country's top 44 small towns for retirement on GoBanking's website here.
