U.S News & World Reports says the Portland area is the 20th best American metro to retire – and the highest-ranked among West Coast cities.
The rankings released Tuesday cover 125 of the nation’s largest metro areas and takes into account housing affordability, a happiness index, desirability, retiree taxes, the job market and the quality of health care.
Portland ranked highly in desirability and boasts a strong job market. But it was dragged down by low marks in housing affordability and health care quality.
The next highest ranked West Coast city was San Diego, at No. 51. Seattle ranked No. 55. The only other Oregon city included in the rankings was Salem, at No. 111.
Portland has for decades attracted more 40-and-older, college-educated people than any other major metro. And aging Oregonians are less likely to move to other states. As a result, Oregon’s 65-and-older population is growing faster than the nation as a whole.
Demographers have long seen the retirement boom coming, but that doesn’t mean Portland or Oregon are prepared for the strain it could put on the healthcare system and housing markets.
Across the state, there’s a major shortage of housing suitable for senior citizens. And private homes largely aren’t built with disabilities in mind, including those more common in old age.
And a wave of retirements could hurt productivity in the workplace, as decades of institutional knowledge walks out the door and employers grow more reliant on recruiting workers from outside the state.
There are benefits, too, to being a retirement destination, experts say. Many retirees bring with them lifetime of savings to spend, boosting the service sector. And the improving health of the aging population means more retirees remain active, perhaps volunteering in their communities.
-- Elliot Njus
enjus@oregonian.com; 503-294-5034; @enjus
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