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See Where Portland Ranks Among Best Places to Retire

Wednesday, August 16, 2017
GoLocalPDX News Team

Is Portland, Oregon a great place to retire? 

According to a recent study completed by WalletHub, Portland ranks 39th out of 150 ranked cities when it comes to best places to retire. 

“After toiling in the workplace for decades, it seems only natural to expect financial security in our golden years. But few of us can look forward to a cushy retirement. According to the Employee Benefit Research Institute’s 2017 Retirement Confidence Survey, six in 10 workers reported feeling at least somewhat confident that they’ll have adequate finances to retire comfortably, but only 18 percent reported a high level of confidence. Nearly four in 10, in fact, have little or no retirement savings whatsoever. Many are even worried about covering basic living expenses once they leave the workforce,” said WalletHub.

Portland's Rankings 

  • 118th Best - Affordability 
  • 15th Best - Activities 
  • 67th Best - Quality of Life 
  • 63rd Best- Healthcare

 

The Rankings 

Portland ranks behind San Diego, California and San Antonio, Texas who rank 37th and 38th respectively.

Portland ranks ahead of Dallas, Texas, and Henderson, Nevada who rank 40th and 41st respectively.

Orlando, Florida is listed as the best place to retire, while Newark, New Jersey is the worst.

The Method

To help Americans find the best cities to spend their golden years, WalletHub’s analysts compared the retirement-friendliness of the 150 most populated U.S. cities across four key dimensions: 1) Affordability, 2) Activities, 3) Quality of Life and 4) Health Care.

They evaluated those dimensions using 40 relevant metrics. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement.

Lastly, they determined each city’s weighted average across all metrics to calculate its total score and used the resulting scores to rank-order the cities in our sample.

With cost being a significant factor in retirement, their analysis assumes retirees will rely on a fixed income. The lower their expenses, the better retirees will fare in a particular city.

Affordability – Total Points: 25

  • Adjusted Cost of Living: Triple Weight (~10.71 Points)
  • Taxpayer-Friendliness: Full Weight (~3.57 Points)
  • Retired Taxpayer-Friendliness: Full Weight (~3.57 Points)
  • Annual Cost of In-Home Services: Half Weight (~3.57 Points)
  • Annual Cost of Adult Day Health Care: Full Weight (~3.57 Points)

 

Activities – Total Points: 25

  • Recreation & Senior Centers per Capita*: Full Weight (~2.50 Points)
  • Fishing Facilities per Capita*: Full Weight (~2.50 Points)
  • Golf Courses per Capita*: Full Weight (~2.50 Points)
  • Museums per Capita*: Full Weight (~2.50 Points)
  • Theaters per Capita*: Full Weight (~2.50 Points)
  • Art Galleries per Capita*: Full Weight (~2.50 Points)
  • Music Venues per Capita*: Full Weight (~2.50 Points)
  • Bingo Halls per Capita*: Full Weight (~2.50 Points)
  • Availability of Adult Volunteer Activities: Full Weight (~2.50 Points)
  • Recreation-Friendliness: Full Weight (~2.50 Points)

 

Quality of Life – Total Points: 25

  • Share of Population Aged 65 & Older: Full Weight (~1.79 Points)
  • Elderly-Friendly Labor Market: Full Weight (~1.79 Points)
  • Age-Friendly Community: Full Weight (~1.79 Points)
  • Share of Population Aged 65 & Older Living Below Poverty Level: Full Weight (~1.79 Points)
  • Share of Population Aged 65 & Older Living Alone: Full Weight (~1.79 Points)
  • Walk Score: Full Weight (~1.79 Points)
  • Share of Population Aged 65 to 79 with Poor Transit Access: Full Weight (~1.79 Points)
  • Mild Weather: Double Weight (~3.57 Points)
  • Caring Community: Full Weight (~1.79 Points)
  • Strength of Elder-Abuse Protections: Full Weight (~1.79 Points)
  • Violent-Crime Rate: Full Weight (~1.79 Points)
  • Property Crime Rate: Full Weight (~1.79 Points)
  • Air Quality: Half Weight (~0.89 Points)
  • Water Quality: Half Weight (~0.89 Points)

 

Healthcare – Total Points: 25

  • Family & General Physicians per 10,000 Residents: Full Weight (~2.38 Points)
  • Dentists per 10,000 Residents: Half Weight (~1.19 Points)
  • Nurses per 1,000 Residents: Full Weight (~2.38 Points)
  • Health Care Facilities per Capita: Full Weight (~2.38 Points)
  • Quality of Public Hospital System: Full Weight (~2.38 Points)
  • Top-Rated Geriatrics Hospitals: Full Weight (~2.38 Points)
  • Emotional Health: Full Weight (~2.38 Points)
  • Share of Population Aged 65 & Older with a Disability: Full Weight (~2.38 Points)
  • Home-Care Facilities per Capita: Full Weight (~2.38 Points)
  • Life Expectancy: Full Weight (~2.38 Points)
  • Death Rate of Population Aged 65 & Older: Full Weight (~2.38 Points)

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