When listing the reasons why Austin, Texas, is a good place to settle down for retirement, you can point to things like its bustling downtown area full of entertainment and dining venues, a wide variety of outdoor activities and attractions, and an abundance of adult communities.
But a chief attraction of Texas’s fourth-largest city and state capital may be a bit more subtle: It’s a retirement destination that is overflowing with options.
“There’s something here for everyone,” said Justin Fort, founder and president of Fort Wealth Management, which is based in the city.
With a population of just under a million, Austin is so vibrant and expansive that people can get creative when it comes to finding a place to live in the city that can serve as a home through retirement, advisors say.
At first glance, that may be hard to believe, particularly when you consider that Austin’s median home price is about $350,000, with property taxes that are above average. (That $350,000 Austin home, for example, is going to cost you almost $8,000 a year in property taxes, according to the Travis County Tax Office.)
But look beyond the numbers, and beyond Austin’s city center, and prospective retirees will find areas of affordability, advisors say.
Fort, for example, noted that the Austin area is home to more than 120 communities for people 55 and older. And while real estate prices and property taxes can be high, he said, the city is otherwise relatively affordable.
“You can really live where you want to if you’re creative and you’re not hung up on having the bigger house and those kinds of things,” Fort said.
In fact, he said, many people prefer living outside of the downtown area because it suffers from frequent traffic congestion.
“A lot of out clients don’t want to live in the downtown area or Austin proper—they want to live in the outskirts,” he said.