Thursday, May 17, 2018

San Antonio is the No. 2 Retirement Hotspot in the U.S.

Posted By on Thu, May 17, 2018 at 12:43 PM

click to enlarge San Antonio's favorable tax conditions and its warm weather make it a major retirement draw, according to a new study.
  • San Antonio's favorable tax conditions and its warm weather make it a major retirement draw, according to a new study.
If you've been around San Antonio for a while, you know warm weather, low costs and available medical facilities make it a retirement hotspot.

But would you believe Taco Town is the United States' No. 2 retirement destination?

S.A. ranked only behind Henderson, Nev., in grabbing a net gain in retirement-age residents, according to a new SmartAsset study. The finance site used 2016 Census data (the most recent available) to rank cities by the number of new retirement-age residents minus the number who moved out.

S.A. showed a net gain of 2,306 new retirees during that period, compared to Henderson's 2,341. Third-ranked Scottsdale, Ariz., pulled in 1,834.

When it came to state migration totals, Florida outshone the rest with a net gain of 84,663 retirees during that time. Texas, at 7,774, ranked 6th on the list.

The Lone Star State has no income tax and doesn't tax retirement income, which helps explain its attraction. In San Antonio's case, both the tax situation and warm weather provided a draw, according to the study.

The retiree numbers should come as no shock given the area's rocketing population growth. Last month, the Census Bureau ranked Bexar County as the 7th fastest growing county in the nation.

Influxes of new residents — whether hip millennials or retirees chasing better golf weather — bring challenges in affordable housing, transportation and development. Should be interesting to see how sustainable Texas' low-tax mindset remains as S.A. and other cities struggle to adapt.

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