Is Boston a good place to retire? When considering retirement destinations, Boston, Massachusetts, might not be the first city to come to mind. Unlike the sunny climates of Florida or Arizona, Boston offers a completely different retirement experience. Yet, for those drawn to history, culture, and intellectual vibrancy, Boston is a compelling choice.
Known as one of the oldest cities in the United States, Boston is steeped in history and significance. Dubbed “The Cradle of Liberty,” it features iconic landmarks that attract millions of visitors annually. Beyond its historical charm, Boston boasts a thriving arts scene, world-class health care facilities, and a pedestrian-friendly design that appeals to retirees looking for an active and engaging lifestyle.
However, like any major metropolitan area, Boston has its challenges, including high living costs and fluctuating seasonal weather. Before deciding if Boston is the right place to retire, it’s essential to weigh these factors. In this guide, we’ll explore the city’s unique advantages, its essential services for retirees, and financial considerations to help you make an informed decision.
Reasons to Retire in Boston
According to U.S. News, “Boston’s tenacious spirit was born out of an act of revolution, and its drive to pursue innovation and progress is in its DNA.” Its many college towns (Amherst, Cambridge, Williamstown) add to its youthful spirit. Here are three more reasons why we love this city.
Rich History and Culture
Boston’s deep historical roots make it a fascinating place to live. Retirees can immerse themselves in American history through landmarks like the Freedom Trail and the USS Constitution Museum. The city’s diverse neighborhoods, including Beacon Hill and Back Bay, offer charming architecture and centuries-old sensibilities.
Boston is also home to world-class institutions like the Boston Symphony Orchestra, the Museum of Fine Arts, and the Isabella Stewart Gardner Museum. There’s also a theater district featuring Broadway shows, opera, and ballet.
Renowned Universities
Having good universities boosts the local economy, attracts talent, fosters innovation, and enhances cultural diversity. It also improves quality of life and community growth. Boston hosts some of the nation’s top-tier universities.
- Northeastern University
- Tufts University
- Boston University
- Massachusetts Institute of Technology (MIT)
- Harvard University
Walkable Neighborhoods and Public Transportation
Boston’s compact size and walkability make it easy for retirees to enjoy their surroundings without the need for a car. Its many neighborhoods have different personalities, plus perks like tree-lined streets, local shops, and accessible parks. Here are a few examples:
- Beacon Hill – Boston’s historic Beacon Hill has Federal-style row houses, cobblestone streets, and gas lamps.
- Charlestown – This Irish neighborhood features naval history and the Freedom Trail.
- Downtown – Downtown has dining, shopping options, the Financial District, and the Government Center.
- East Boston – A lovely waterfront location, parks, and a variety of restaurants and shops.
- North End – This smaller neighborhood is known as Boston’s “Little Italy.”
- South Boston – “Southie” has a vibrant nightlife and many beaches.
The Massachusetts Bay Transportation Authority (MBTA), or “the T,” provides reliable public transportation, including buses, trains, and ferries. Retirees can explore the city’s neighborhoods and surrounding areas conveniently, reducing the need for extensive driving.
Activities and Amenities for Retirees
Boston offers a wide range of activities and amenities for retirees who enjoy staying active.
Museums, Theaters, and Cultural Attractions
- Boston African American National Historic Site – Tells the story of the area’s 19th-century African American community.
- Museum of Fine Arts – One of the most comprehensive art collections in the world.
- Museum of Science – Interactive exhibits, a planetarium, and theater shows.
- Boston Symphony Orchestra – Renowned for its exceptional performances.
Parks and Outdoor Activities
- The Freedom Trail – Has 16 historical sites.
- Boston Common and Public Garden – America’s oldest park.
- Charles River Esplanade – A state-owned park and scenic spot for walking, jogging, or relaxing by the water.
- Boston is close to some of New England’s best skiing destinations.
Health Care and 55+ Services in Boston
Access to quality health care is a top priority for retirees, and Boston excels in this area. Retiring near good hospitals ensures access to timely treatment and specialized care, supporting overall well-being and peace of mind in our retirement years.
Boston’s Renowned Hospitals and Medical Institutions
Boston’s reputation as a global healthcare leader is well-earned. In addition to top hospitals, the city is home to many research institutions and specialists. This concentration of expertise allows retirees access to advanced treatments and preventative care.
These are five of Boston’s highest-rated medical organizations:
- Massachusetts General Hospital
- Brigham and Women’s Hospital
- Beth Israel Deaconess Medical Center
- Tufts Medical Center
- Brigham and Women’s Faulkner Hospital
Availability of Senior-Specific Services and Programs
Boston provides a variety of resources designed for older adults, including:
- Senior centers with recreational activities, educational programs, and social events
- Public transportation discounts for seniors through the MBTA
- Aging Services Network
- Prescription Advantage
Challenges of Retiring in Boston
Boston is the 25th largest city (July 1, 2023 population estimate: 653,833) in the U.S., so retirees should expect to occasionally deal with crowds and traffic. It’s also important to understand the cost of living in this part of Massachusetts.
Cost of Living and Housing Prices
Is Boston a good place to retire for budget-minded retirees? This city is known for its high cost of living, which may pose challenges for retirees on fixed incomes. Housing prices can be steep, with the median home value exceeding the national average. Renting can also be expensive, making it essential for retirees to carefully budget or explore alternative housing options like downsizing or relocating to nearby suburbs.
Boston’s Cost of Living
According to Best Places, the cost of living in Boston is 50.8% higher than the national average. The average home price in Boston is $656,500, which is 94.2% above the U.S. average of $338,100. Additionally, rental prices are steep, with an average two-bedroom unit costing $2,840 per month—24.6% higher than the Massachusetts average and double the national average of $1,430.
Is Boston Tax-Friendly for Retirees?
Yes, Boston is somewhat tax-friendly for retirees:
- Massachusetts has a 5% flat income tax rate.
- There’s a flat 6.25% statewide sales tax rate.
- Social Security retirement benefits and income from most public pension funds are exempt from taxation.
- Other kinds of retirement income don’t receive deductions or exemptions.
- Property taxes in Boston can also be high, depending on the location and home value.
Seasonal Weather Considerations
You can’t talk about Boston without mentioning its weather. Winters can be harsh here, with cold temperatures and snowstorms. On the other hand, spring and fall are beautiful, with mild weather and vibrant foliage. Beantown summers are typically warm and pleasant, with average temps in the 80s.
Boston Weather Averages
- 47 inches of rain per year
- 48 inches of snow per year
- 200 sunny days each year
Is Boston the Right Retirement Destination for You?
So, is Boston a good place to retire? Its rich history, cultural offerings, and exceptional health care make it an appealing choice for retirees, but the city’s high cost of living and seasonal weather challenges require careful planning and consideration. Visiting Boston and exploring its neighborhoods, amenities, and housing options can help determine if it aligns with your retirement vision.
Ready to explore 55+ communities in Boston? Contact us to learn more about housing, neighborhoods, and resources for active adults.
