Report: Las Vegas among best cities for retirees

Tuesday, Oct. 20, 2009 | 3:55 p.m.

More stories about the economy

Nevada is known as the Silver State because of its rich mining history, but a recent report shows Clark County is also a good place for the silver-haired: Forbes ranked it among the best cities in the country to retire.

The Las Vegas metropolitan area was ranked No. 7 in Forbes’ list of what it called “recession-proof cities to retire in.” Despite the city's current sour economy, Forbes says the data indicate bright days ahead for retirees in Las Vegas.

The magazine analyzed seven sets of statistics, including median home price; five-year projected home price; median monthly housing expenses; cost of living other than housing expenses; median income for households over age 65 and the five-year job growth outlook.

And, because “every retiree should get some sunshine in their golden years,” the report said, it looked at statistics on sunny days from the National Oceanic and Atmospheric Administration.

Of the 40 metropolitan areas Forbes looked at, Las Vegas ranked No. 1 in sunny days. The areas that topped the list offered sunny weather, job prospects and affordable housing.

Atlanta was at the top of the list, followed by Dallas, Tampa, Fla., Houston and, tied for fifth place, St. Louis and Austin, Texas. Phoenix was ranked No. 8, after Las Vegas.

Compared to the other 40 cities on the list, Las Vegas came in ninth for income for those 65 and older; 12th for its median home price; 26th for its projected home price growth for the next five years; 10th for projected job growth for the next five years; 25th for its cost of living; and 30th for its median monthly housing costs.

The magazine said urban areas have become increasingly attractive to retirees.

"Empty nesters are definitely taking advantage of the cheap condo prices in big cities," Ken Shuman, spokesman for real estate site Trulia.com told Forbes. "Baby boomers never had that city-living experience. It's a great opportunity for them to have that chance as they get older and enjoy the things cities have to offer. It's definitely a trend that we're seeing."

Discussion: 10 comments so far…

By VegasSucks

10/20/09 at 4:08 p.m.

Suggest removal

Yay, Las Vegas finally came in first place for something positive. But sunny days?! That's it?
Well, I guess they don't refer to them as the "golden years" for nothing. So what if the retirees have nothing to do. As long as the sun is shining, it's a good day! Even if the retiree is tucked away deep in the bowels of a nearby casino, gambling/giving their retirement money away, completely oblivious to the happy weather.
Is the LVCVA going to cut Forbes a check for this positive publicity?? Or maybe they should make the check out to Mother Nature.
By VegasVegas

10/20/09 at 4:30 p.m.

Suggest removal

Well it's been horrible here for quite a while, and we are the last thing from recession-proof, and go ask the elderly lady who was beaten senseless the other day by the 20-year old.
By nednougat

10/20/09 at 6:33 p.m.

Suggest removal

It's curious that most of the top listed cities are humid hell holes in the spring/summer/fall. I'll take our extreme but dry temperatures over being a sweat hog anytime. Did I mention bugs?
By odeman

10/20/09 at 11:12 p.m.

Suggest removal

Don't forget the snow and terrible driving conditions. Not to mention the cold. We can go 200 days plus between 70 degree days. Most of the winter it rarely gets above freezing and many times the lows are below zero. This is 100 miles north of Chicago so one can imagine what it's like in farther north. If this sounds good to you, grab a shovel and head north by east.
By wizardofOz

10/21/09 at 12:39 a.m.

Suggest removal

"...26th for its projected home price growth for the next five years..."

Guess they won't be buyin' anything 'cept sunglasses, huh....?

YowZa! HaPpY dAyS aRe HeRe AgAiN..!
By janicebyrne

10/21/09 at 7:27 a.m.

Suggest removal

We have your mayor here in the UK at the moment. He's visiting, with showgirls, to try to get more Brits to visit your city. The mayor himself is 71 and he thoroughly recommends LV as a GREAT place for retirees, or in fact anyone with a zest for life and living. I liked the mayor when I saw him being interviewed today. He's a good ambassador.
By rejco100

10/21/09 at 7:43 a.m.

Suggest removal

With the crime rate SOARING in Las Vegas and little old ladies the only ones with cash in their purses...NO THANKS!
By dipstick

10/21/09 at 8:29 a.m.

Suggest removal

the brother-in-law bought a house in nlv 4 years ago for retirement. the house is valued about what he paid for it so hes even.but what i dont like about it is ,its in the middle of urban sprawl. barking dogs and for sale signs abound and not a piece of shade anywhere. thats retirement? it sounds like the place where old dinosaurs go when the end is near. like the tourist agent said; its 120 degrees but its DRY heat.
By info4you2see

10/21/09 at 8:49 p.m.

Suggest removal

Please welcome retirees to move here. The sooner the better. Everyone would benefit from it! Please come to Las Vegas!

Feeling the positive energy! Yes? Being negative is too easy.
By geenab65

10/22/09 at 6:46 p.m.

Suggest removal

Info4you2see,
My parents retired here in Vegas from Cali 9 years ago and they STILL love living here!! I love the fact that they are here, so I only applaud!!!