Milford ranked a top retirement town in NH
MILFORD – It’s not Florida or Arizona, but it’s not a bad place to retire, according to a personal finance website.
SmartAsset recently ranked the 10 best place to retire in New Hampshire and Milford came in third, after Exeter and Portsmouth. The town also ranked 327th nationally.
SmartAsset, which purports to help people make good financial decisions, considers four main factors for its rankings: Taxes (income and sales tax), the number of doctors’ offices and the opportunities for recreation and a social life.
All the towns and cities on their New Hampshire list rated the same for taxes, with a combined income and sales tax burden of 3.6 percent.
“We calculated effective rates based on a typical retiree, earning $35,000 annually (from retirement savings, social security or part-time employment), and spending their disposable income on taxable goods,” according to the website.
“Next, we determined the number of doctors’ offices, recreation centers and retirement centers per thousand residents in each area. Finally, we found the number of seniors in each area as a percentage of the total population.”
Milford retirement centers and recreation centers per thousand were rated as 0.4 and doctors’ offices per thousand were 2.2.
The percentage of seniors in Milford is 15.1 percent, the same as in Keene.
Also on the list, in ranked order after Milford, were Concord, Dover, Laconia, Lebanon, Hanover, Nashua and Keene.
SmartAsset also has an interactive national map where its top rated sites are several places in Florida.
“In our final analysis, we ranked each county and city, more than 3,000 places, on these three factors, and calculated an average ranking for each area, weighting the three factors equally. The areas with the lowest average ranking are the best places to retire.”
The number one town nationally is Stuart, Fla.
On the bottom of the national rankings were towns and cities in Wyoming and West Virginia which received rankings in the 3,000s.
Data came from the US Census Bureau County Business Patterns (CBP) and ZIP Code Business Patterns (ZBP), Avalara, US Census Bureau 2012 American Community Survey, government websites, according to SmartAsset.