25 Best Places to Retire

Traverse City, MI
gallery best places to retire traverse city mi
Traverse City's biggest draws: Sandy beaches; year-round cultural events; affordable waterfront homes.
Best if you're looking for: Resort area
Median home price: $195,000
Top state income tax: 4.35% (4.25% in 2013)

Retiring to the water doesn't have to mean giving up four seasons or downsizing to a tiny condo. In Traverse City, residents enjoy miles of sandy beaches and all the spoils of Lake Michigan and nearby inland lakes -- where waterfront homes can be found for less than $200,000.

Moreover, despite Traverse City's location on the northwestern side of the state, it has fairly urban-like amenities, such as the 391-bed Munson Medical Center, which consistently ranks among the 100 top hospitals in the country. And the nearby Interlochen Center for the Arts brings in hundreds of concerts, art exhibits, and theatrical and dance productions each year.

See complete data for Traverse City


Source: OnBoard Informatics; NOAA; Zillow; Trulia; National Association of Realtors; Tax Foundation; MONEY research
Notes: Home cost is median sales price except for Bloomington, Aberdeen, Ottawa, Traverse City, Coeur d'Alene, Fredericksburg, and St. George, which had only median list price available. Security income excluded in all states listed except Utah; most states exclude some pension income.
  @Money - Last updated December 17 2012 10:24 AM ET
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