As a Valley native, would you consider retiring here? A place that holds all of your childhood memories, your favorite raspa drive-thrus and the familiar sounds of Spanish chattering all around. They do say “home is where the heart is”. Maybe that means some of us will never stray too far from home for too long.
Whatever the case, retiring in the RGV is actually a smart idea. According to an analysis of retirement locales by personal finance website SmartAsset, the City of McAllen is the best place to retire in the United States. All that’s needed for a comfortable and enjoyable retirement in the area is about $370,000 in savings and social security. That’s it.
It’s not all about the low cost of living, though. Other factors that made McAllen a top retirement spot include stable year-round weather and low tax rates. SmartAsset calculated the nest egg needed to live off social security and savings by considering the cost of living and tax rates in the area.
“While McAllen continues to grow and increase the number of amenities to make us attractive,” said McAllen City Manager Roy “Roel” Rodriguez. “…it’s good to know that we’re recognized nationally for being affordable and price conscious for retirees.”
Rodriguez expressed his excitement on the topic, stating it was important that McAllen is finally getting recognition for being a place of retirement. After all, the city has drawn thousands of retirees from across the country, particularly the Midwest, for its relaxing and wholesome amenities and mild weather.
“McAllen has one of the largest public libraries in Texas, miles and miles of hike and bike trails, free events and concerts year-round, an outstanding parks system, great weather and one of the lowest property tax rates in the state,” Rodriguez said. “McAllen’s price point is great.”