Tags: Retirement | retirement | Illinois | affordable places

Most Affordable Places for Retirees in Illinois

By    |   Saturday, 06 Jun 2015 10:42 PM

When it comes time for you to consider retirement, there are many beautiful places around the county that can provide the ideal lifestyle for your later years. Retirement in Illinois is certainly no exception. Some areas in the state provide excellent retirement options, but they come at a hefty price. That might be a great option for those who plan to work a side job after retirement while collecting their benefits. Areas such as Chicago and Joliet have bustling retirement communities for active adults over 55, but there are plenty of other options available to suit just about anyone’s budget and taste.

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Here is a look at some of the most affordable locations for retirement in Illinois:
  1. Galena - With a population of 3,469, Galena represents an affordable retirement option coupled with a small-town feel and a rich local history, since about 85 percent of the city has been dubbed part of the National Historic District. The median cost of a house in Galena is $155,800, which is 2.1 percent lower than the national average. The unemployment rate is 6.3 percent, on par with the national average, but the job growth rate is on the increase. There is plenty to do to stay busy as well, including 10 golf courses in the vicinity and hiking in two state parks close by.
  2. Peoria - Peoria’s population sits at 114,754 and often gets recognition for its popular arts scene. However, it also boasts a 15 percent lower-than-average cost of living, making it another attractive location for retirement in Illinois. The housing market is also ideal for retirees, with the median home cost coming in at just under $83,000. But perhaps the most attractive feature of the city is its health care – Peoria has almost twice as many physicians per 100,000 residents than the national average. While the unemployment rate is 7.8 percent, higher than the national average, the job growth rate is on the rise.
  3. How Soon Can You Retire? Free Test Shows You When — Click Here

  4. Alton - The Mississippi, Missouri, and Illinois rivers all converge near Alton, posing an ideal retirement location for people looking to be near the water. The population stands at 27,868 and the cost of living is nearly 22 percent lower than the national average. Alton also offers a unique tourist attraction – a view of the sky-high limestone bluffs and the raging waters of the Mississippi River for a 33-mile long stretch of highway. Additionally, there are six wineries and eight golf courses in the area and with a median home cost of $61,700, the town is a veritable treasure trove for people considering retirement in Illinois. The unemployment rate is higher than the national average, at 7.9 percent but job growth is increasing at a steady rate.
An Extremely Simple Way to Determine If You're Ready to Retire — Find Out Now

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When it comes time for you to consider retirement, there are many beautiful places around the county that can provide the ideal lifestyle for your later years. Retirement in Illinois is certainly no exception.
retirement, Illinois, affordable places
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2015-42-06
Saturday, 06 Jun 2015 10:42 PM
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