GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re able to read more about oureditorial guidelinesand our products and servicesreview methodology.
20 YearsHelping You Live Richer
Reviewedby Experts
Trusted byMillions of Readers
Thecost of livingin California is notoriously high.
In fact, only Massachusetts and Hawaii rank higher in terms of overall costs.
Everything from groceries and housing to utilities, transportation and healthcare is more expensive than the national average.
Despite this, not everyone wants to leave The Golden State.
GOBankingRates spoke with the experts to see whether its a good idea for boomers to retire in California.
Affordability Is a Major Problem
For many baby boomers, housing affordability is a major concern.
California can be affordable, but the places that are affordable are normally not very desirable.
Same is true with Fresno or Bakersfield …
There [are] affordable houses out there, but most people dont want to live there.
At the time, the house cost just a little over $300,000.
But many of the available homes in the area lack the features they need as seniors.
Most of the condos theyve checked out only have one or two bedrooms andno outdoor space.
The housing challenge for everyone in California is significant, said Sean McGrail, founder ofHome Sweet Homeshare.
And with limited accessible housing options, many are getting pushed out even further.
Rather than prioritize high earners or retirees, developers are primarily buildingsmaller or multifamily construction units.
According to McGrail, there are ways to potentially resolve or at least minimize thishousing shortage crisis.
None of these apply to Deb and her husband.
They are quite content staying in their neighborhood.
But the lack of community is still an issue for many boomers.
If someone is looking for a good place to retire I would recommend La Quinta, California.
Before deciding to relocate or age in place, consider your budget and other needs.
It can help you make the best move for you.
More From GOBankingRates
Share This Article:
