Retire in Connecticut? Some Great Choices, Study Finds

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Connecticut, it turns out, is not too shabby a place to retire. 

A new data analysis finds that there are three metropolitan areas in the land of small cities that hold their own with larger metropolitan areas.  The analysis, by StorageCare, used 15 metrics to assess each location's potential for retirees' needs, including the cost of living, crime rate, weather, housing options, income and more.  And Connecticut appeared three times among the top 25:

  • Bridgeport-Stamford-Norwalk ranks 10th on the list of the best metros for retirees. Seniors in the region have a generous median income of more than $37K and the average life expectancy is high at 82.1 years.

  • The Hartford-East Hartford-Middletown metro area ranks 20th on the list. With an average life expectancy of 80.5 and a median income of more than $31K. It also has a significant number of age-restricted homes (22% of the large-scale rental inventory).

  • The New Haven-Milford metro — described as the "Cultural Capital of Connecticut" — ranks 24th overall. It fares particularly well for safety as well as for the of healthcare workers and social assistance.

StorageCafe’s data-driven report ranks the top US metros to retire to.  Although Florida's coastal hotspots rank prominently, the Northeast dominated the top 20 spots on the list.  The top 9 for “Retirement Friendliness” include Cape Coral-Fort Myers, FL; Cleveland-Elyria, OH; North Port-Sarasota-Bradenton, FL; New York-Newark-Jersey City; Dayton-Kettering, OH; Albany-Schenectady-Troy, NY; Milwaukee-Waukesha, WI; Tampa-St.Petersburg-Clearwater, FL; and Oxnard-Thousand Oaks, Ventura, CA.

“For many people, retirement may well be summarized in a few words: downsizing your home while upgrading your lifestyle,” explained Doug Ressler of Yarti Matrix, a research firm working with StorageCafe in developing the data and analysis.

“It's often a chance to do more of the things you love in a place you like, not conditioned by job-related restrictions. If you're switching to less square footage, chances are you'll be paying less for utilities and will have some extra cash from the sale to put towards enjoying your golden years,” Ressler continued.

Company officials note that with more than 10,000 people turning 65 every day, deciding where to retire is a question pondered around kitchen tables just about everywhere. For some, attempting to retain more than can easily fit in a smaller home, storage can be a solution. Ressler notes that over 255 million square feet of storage space was built in the last five years across the US, roughly 15.7% of the overall national inventory.