WESTERLY – The best place to retire in Rhode Island is Westerly, according to a report from SmartAsset, a software and data company that provides financial advice, released on Friday.
The report utilized U.S. Census Bureau data in its findings.
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Greenville ranked No. 2 in the state, followed by Tiverton (No. 3), Warwick (No. 4) and Newport (No. 5).
The study was based on five factors: state and local taxes (sales and income), the ratio of doctors’ offices per 1,000 people, retirement centers per 1,000 people, the number of recreational centers per 1,000 people and the population percentage of seniors in a town or city.
Westerly, despite ranking No. 1 in Rhode Island, ranked No. 1,487 in the nation.
The five factors were then weighted by three categories: tax burden, medical care, and recreation and social. However, all of the cities and towns in Rhode Island included in the study were estimated to have the same tax burden, 18.2 percent.
Tax percentage was calculated based on a typical retiree, earning $35,000 annually.
Still, Westerly ranked No. 1 for SmartAsset’s medical care rankings, behind Pawtucket, and No. 2 for recreation and social rankings behind Greenville, securing Westerly the top spot in the state.
Plymouth ranked No.1 in Massachusetts for the best place to retire in the state. Plymouth ranked No. 113 in the nation.
