Bridgeport is one of the worst cities in the nation for retirement, according to a recent study based on what seniors are seeking in their retirement.
WalletHub recently released a report analyzing 182 cities. It looked at four key criteria for each city: affordability, activities, quality of life and healthcare.
Bridgeport ranked 173 and New Haven ranked 136 largely due to Connecticut’s taxation rates and policies, according to WalletHub analyst Chip Lupo.
“Bridgeport ranked 175th in what we call taxpayer friendliness according to our tax rates by state ranking, and tax friendliness on the state and heritage taxes,” Lupo said.
The city ranked particularly low in affordability and activities such as golf courses or popular senior centers, according to Lupo.
“Bridgeport ranked 160th in activities, primarily because there's not a very high population of seniors in Bridgeport, relatively low share of adults, 65 and older,” Lupo said.
There were also not many good part-time job options in the city for seniors, according to the study.
The report relied heavily on federal data from the U.S. Census Bureau, the FBI and the Department of Labor statistics. Bridgeport city officials did not respond to Connecticut Public’s request for comment on the findings of the report.
Despite Bridgeport and New Haven’s overall low ranking, both cities were listed among the best cities for healthcare, Lupo said.
“If healthcare is a primary concern, it might be worth considering if you can withstand some of the other factors, like the taxation,” Lupo said. “Because Bridgeport in particular [is] number one overall in nurses per 1,000 residents, sixth in dentists per 10,000 residents."
Three of the top five cities were in Florida. Orlando ranked first, according to the report. The other cities were Miami and Tampa, Florida, Scottsdale, Arizona and Minneapolis, Minnesota.
None of the states included in the top five cities have income, estate or inheritance taxes, Lupo said.
Housing costs are a main concern for retirees and something that needs to be considered leading up to retirement, according to Joanna Lahey, an economist who contributed to the report.
“Retirees tend to cook more and go out less. Some downsize their houses, though be sure to safeguard that money so it lasts if you do that. Some people move in with family,” Lahey said.
