Madison, Wisconsin
Population: 634,269
Share of population 65+: 12.8%
Cost of Living: 7.6% above the national average
Average Income for Households 65+: $47,822
Community Score: 65.3
State’s Tax Rating for Retirees: Least Tax Friendly
The Badger State capital and home to the University of Wisconsin, Madison has a strong economic base to support a thriving retirement. That’s part of what makes it the second-best city for successful aging among 100 large metro areas, according to the Milken Institute. Other winning attributes: an abundance of quality health care, academic and other opportunities afforded by the university, and plenty of museums, libraries and recreational facilities.
A downside: Living costs are fairly high for a Midwestern city. Housing- and health-related expenses are 9.4% and 22.9% above average, respectively. Be sure your nest egg is up to the task. If it is, you’ve found a great place to retire.
