Is Ohio a Good State to Retire In ?

Are you tired with work and your current community? A lot of people move to new and exciting locales when they retire, but it’s getting harder to do with housing costs rising. If you’re looking for a place with low costs of living, give Ohio a look.

How Low Is The Cost of Living?

Median home costs in Ohio average $179,700, which is nearly 40% below the national average. Many businesses and cities offer senior discounts, and US News & World Report has rated Akron as one of their top places to retire on less than $75 a day.

On the other hand, most pensions are taxed as regular income, but this doesn’t apply to social security or veteran’s pensions. Property taxes are also fairly high at 1.57% while the state sales tax is 5.75%.

How Are Ohio’s Healthcare Options?

Regardless of where you live, you’re never more than 45 minutes from a good healthcare facility. The most famous hospital is, of course, the world-renowned Cleveland Clinic, but Cleveland also has University Hospitals Cleveland Medical Center.

In Columbus, OSU Wexner Medical Center is considered the best in the area, and Cincinnati has Christ Hospital among many others.

On top of this, a Newsweek study of 15,000 nursing homes and assisted living facilities shows that 14 of the top 100 are in Ohio. Most of these institutions accept both Medicare and Medicaid.

Is Ohio An Active State?

Ohio has plenty of options for seniors who like to stay active. Ohio’s three largest cities are known for being bike-friendly, and Cleveland has some of the finest urban hiking and biking trails in the United States.

Cleveland and Cincinnati are also considered walkable cities. If you’re into the great outdoors, Ohio has an abundance of rivers, creeks and lakes for fishing. Most notable are Lake Erie in the north and the gently-flowing Ohio River in the south.

If you’re a deer hunter, you’ll be pleased to know that Ohio has the country’s longest hunting season. Bow season runs from September 29 to February 3. Gun season runs from November 26 to December 2, and a short second gun season runs on December 15-16.

If you’re a birdwatcher, you should visit Magee Marsh in early May. There, you’ll see thousands of spring warblers heading south over Lake Erie on their annual migration. Buck Creek State Park is another prime birdwatching option.

I’m More of a City Dweller. What Can I Expect?

All of the big three cities have a lot of offer. If you choose Columbus, you can enjoy music from their symphony orchestra, watch stage productions at the Ohio Theatre, view fine art at the Columbus Museum of Art or enjoy the more hands-on exhibits at COSI.

If you choose Cincinnati, there are plenty of dining and entertainment options in Over-The-Rhine. You can also catch a game at the Great American Ballpark, hike the Bender Mountain Trail or find exotic foods at Jungle Jim’s International Market.

If you like a more down-to-earth city, choose Cleveland. They’ve got the Rock and Roll Hall of Fame, live music at Jacobs Pavilion at Nautica and plenty of animals at both the Metroparks Zoo and the Greater Cleveland Aquarium.

Are There Any Disadvantages to Ohio?

Besides the slightly higher taxes, some people are turned off by the seasonal extremes. Summers can be very hot and humid while winters, especially along Lake Erie, can be brutally cold with that wind off the lake.

If you’re susceptible to allergies, Southeast Ohio may not be a good option for you due to its abundance of ragweed in the spring.

Outside of the major cities, public transport can be hard to find, and even Columbus’s bus fleet is smaller than those of comparable cities. On the other hand, bus passes in all three cities are quite affordable.

At What Age Can You Retire In Ohio?

If you’re collecting social security, you can start collecting at age 62, but you’ll likely see a cut in benefits unless it’s your full retirement age. For most people, full retirement comes at age 66.

For more information, go back to the home page or check our latest guide about what gold IRA company to choose if you live in Ohio.