Key Points
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Pennsylvania has a lot of affordable places to live.
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Its tax bite for retirees is fairly light.
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But relocating for retirement isn’t for everyone.
Anyone thinking of relocating for retirement should give some consideration to the state of Pennsylvania. In The Motley Fool’s “The Best States to Retire to in 2026, Ranked by What Retirees Value Most” report, it ranked high, in seventh place.
Pennsylvania offers a much more appealing cost of living than many states in the U.S., and it has been working to revitalize many locations, such as Bethlehem, Erie, Lancaster, Reading, and Tamaqua. Even without revitalization, it merits a closer look.
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The Pittsburgh skyline. Image source: Getty Images.
Why Pennsylvania?
As The Motley Fool report on the best states notes, “Pennsylvania has an abundance of historic towns, and many former industrial areas in the state have undergone revitalization to provide excellent living options for retirees. Areas that have a lot to offer seniors in Pennsylvania include Allentown, Pittsburgh, Williamsport, Philadelphia, and Armstrong County.”
Here are some upsides of retiring in the Keystone State:
- The cost of living is generally reasonable, ranking roughly in the middle of all 50 states. House prices will be more costly in big cities, though. Per a Motley Fool Money report, the recent typical home value in Pennsylvania was $286,033, well below the national average of $371,133. (Many of these homes will be old, though, with some needing updating or maintenance.)
- There is a lot of natural beauty, and the recreational activities it affords, such as hiking, biking, walking, skiing, and fishing.
- Excellent healthcare is available in Pennsylvania.
The state doesn’t tax retirement income. It does sport a higher-than-average property tax rate, but also a low sales tax rate.
And some downsides:
- The winters can be snowy and cold; the summers hot and humid.
- Utility costs are generally above average.
- Living in or around Philadelphia or the state capitol Harrisburg can cost more than other parts of the state. The Pittsburgh area is a bit below the national average, though.
Should you relocate for retirement?
The idea of relocating for retirement can be appealing, but approach it thoughtfully, as there are some big pros and cons.
On the plus side:
- You could save a lot of money if you move to a less costly place.
- Your new area may offer a lot more activities of interest and/or a better climate.
However:
- You may miss family and friends you move away from.
- Family and friends may not visit as much as was expected.
- Your social life may suffer.
- You may not love your new region as much as you thought you would.
For best results, give your intended destination a trial run. Try living there for at least a few months and see how you like it. Or ditch the idea of moving and explore less costly living options in your current area.
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