This Arizona Mountain City Is One of many Most Costly Locations to Retire—Right here’s Why

When you consider retirement in Arizona, you possible think about dry desert warmth, flat landscapes, an abundance of cacti, and scorching summers properly within the 100s. However nestled excessive at an elevation of seven,000 ft, Flagstaff gives a special sort of Arizona retirement. For retirees trying to reside near the Sunbelt, this mountain city gives pine bushes, snowy winters, and summer season temperatures that hardly ever prime 90 levels. It’s a preferred spot for retirees in search of a four-season local weather, outside journey, and small-town allure.

Flagstaff has a inhabitants of simply over 76,000 and gives residents loads of leisure choices, leisure actions, and a vigorous, close-knit group setting. However, there’s a catch. This fascinating retirement vacation spot can include a hefty price ticket. Whereas retirees are drawn to the world for its pure magnificence, these on a mounted earnings could discover themselves stretching their budgets to name it house.

Right here’s a better take a look at what makes Flagstaff such an interesting (but costly) retirement vacation spot.

Understanding the Prices

The price of dwelling in Flagstaff is about 18% greater than the nationwide common. That is possible because of elevated housing costs, greater healthcare bills, and rising native taxes. Individuals contemplating relocating in retirement could have to weigh the approach to life advantages towards the potential price of dwelling improve (relying on the place they’re shifting from).

Property Costs

Flagstaff’s housing market is pretty aggressive and slightly distinctive when in comparison with different cities in Arizona. The median house worth sits at $413,200, which is almost an identical to the nationwide median of $416,900. There’s, nevertheless, a purpose why {the marketplace} is taken into account aggressive for households and retirees. Single-story houses, which are sometimes most well-liked by retirees because of their accessibility, are pretty restricted.

As well as, Flagstaff continues to see a excessive demand for short-term leases because of a rise in tourism, second-home patrons, and college students attending close by Northern Arizona College. Mixed, these components proceed to maintain housing stock low and costs excessive. 

Housing Prices

Along with the doubtless excessive preliminary buy value, housing prices within the space common round $1,245 per thirty days. This quantity can embrace frequent prices like your mortgage or hire funds, property taxes, utilities, and householders’ insurance coverage. Whereas that could be manageable for some retirees, it’s noticeably greater than in lots of different mid-sized retirement-friendly cities—particularly people who aren’t impacted by vacationers and college actions.

Healthcare Prices

Healthcare is one other space the place prices can climb rapidly, particularly for growing old adults. Flagstaff is house to the Flagstaff Medical Heart, which might present common care to your annual check-ups and run-of-the-mill medical issues. Nevertheless, for these with persistent or complicated circumstances, chances are you’ll have to journey to Phoenix for extra specialised companies. This additional journey requirement can, in fact, take away time in retirement and improve potential prices—particularly if frequent appointments or procedures are required.

It’s additionally value contemplating that rural and mountain communities (like Flagstaff) may be topic to greater insurance coverage premiums because of restricted supplier choices. Within the occasion you want constant or pressing medical consideration, chances are you’ll discover the longer appointment wait instances and better copays to be lower than supreme.

There are three hospitals and 313 healthcare institutions throughout the county. Whereas that is maybe a suitable quantity for a smaller county, sources are restricted in comparison with what’s out there in bigger cities throughout the state (like Phoenix).

Native Taxes

Arizona’s property taxes are reasonable by nationwide requirements, however in Flagstaff, rising house values can result in bigger tax payments every year. Retirees must also be aware of the town’s 9.18% mixed gross sales tax, which is among the many highest within the state. For these dwelling on a hard and fast earnings, that may add up rapidly, particularly when paired with the already elevated price of products and companies in a tourist-driven space.

What Makes Flagstaff So Costly?

Flagstaff is a picturesque mountain city inside driving distance of unbelievable pure landscapes and main vacationer cities like Sedona and Phoenix. To not point out, it’s a vibrant, energetic group that brings individuals of all walks of life collectively, from college-bound teenagers to relaxed retirees.  

Mountain Location and Outside Enchantment

Flagstaff’s location is one among its greatest attracts. Located at a excessive elevation in northern Arizona, it gives cool summers and a real four-season local weather—one thing you received’t discover in Phoenix or Tucson. Flagstaff can really feel like a breath of recent air for a lot of retirees, particularly these trying to escape the scorching warmth or crowded cities.

With a relatively milder local weather comes the power to benefit from the nice outside (with much less fear in regards to the risks of warmth exhaustion). Residents of Flagstaff can get pleasure from mountain climbing, snowboarding, biking, and being near nationwide parks just like the Grand Canyon. Nevertheless, the world’s pure magnificence and fascinating local weather do contribute to the aggressive housing market and better price of dwelling.

Tight Housing Market

Surrounded by nationwide forest and constrained by strict zoning legal guidelines, the land out there for brand spanking new residential improvement in Flagstaff is proscribed. Consequently, development tends to lag behind demand, particularly in the case of retirement-friendly housing like single-story houses or age-restricted 55 and over communities.

This difficulty appears additional compounded by the presence of vacationers and college college students. Northern Arizona College brings in 1000’s of renters every year, whereas Flagstaff’s fame as a trip vacation spot attracts second-home patrons, which ends up in elevated competitors for already restricted stock.

Life-style Perks at a Value

Flagstaff gives the approach to life many retirees dream of: a walkable downtown crammed with native eating places and galleries, a full calendar of festivals and group occasions, and clear, crisp mountain air. These way of life perks are a part of what makes Flagstaff really feel vibrant and welcoming. In addition they are likely to push up the town’s price of dwelling.

As a result of the world caters to higher-income vacationers and residents, on a regular basis bills like eating out, purchasing, leisure, and even house upkeep can include a premium. 

Retirement Issues in Flagstaff, AZ

As you proceed fascinated about the place to maneuver to, listed here are just a few of essentially the most compelling execs and cons of creating Flagstaff your future retirement vacation spot.

Execs

• Scenic setting: Flagstaff’s mountainous backdrop is actually stunning, providing residents a way of peace and connection to nature. 
• Means to socialize: Town offers retirees a powerful sense of group whereas boasting low crime charges.
• Lively, health-conscious way of life: With mountain climbing trails, ski slopes, nationwide parks, and a vibrant cultural scene at your fingertips, you’ll by no means run out of the way to spend your retirement.
• 4 seasons: In contrast to the acute warmth of southern Arizona (which might impede a retiree’s capability to remain lively in the course of the summer season months), Flagstaff experiences cooler summers, snowy winters, and extra different climate patterns all year long.

Cons

• Housing affordability: The tight actual property market, mixed with excessive demand, means costs are steep, and choices for retirement communities are restricted. It’s one of many greatest obstacles to retiring in Flagstaff.
• Restricted entry to healthcare: Not having specialised care can be a priority for some. As you age, the chance of creating a persistent situation will increase, and relying on the kind of care wanted, chances are you’ll want to hunt therapy in bigger cities, like Phoenix.
• Total prices: Flagstaff’s excessive gross sales tax and rising price of dwelling can pressure your retirement earnings technique, relying in your out there sources in retirement.

The Backside Line

Flagstaff provides retirees the chance to get pleasure from a four-season local weather and an lively group way of life, all of which may be arduous to search out elsewhere in Arizona. Flagstaff could also be well worth the premium price ticket for those who’re dreaming of having fun with a cup of espresso within the crisp morning mountain air or strolling downtown alongside the outlets and eating places. 

Earlier than deciding, weigh the potential perks of shifting to a metropolis like Flagstaff towards your monetary scenario and retirement sources. Think about visiting for an prolonged keep to check out what dwelling in Flagstaff may seem like (and value), whereas exploring what the world gives.