Springfield, Massachusetts, positions itself as a compelling choice for individuals entering retirement, blending urban amenities with a manageable cost of living. Its appeal lies in tax advantages for seniors, diverse recreational and cultural activities, convenient transportation, and comprehensive healthcare services. This makes it an attractive option for those seeking an engaging post-career lifestyle without financial strain.
Discovering Retirement in Springfield, Massachusetts
Springfield, Massachusetts, a significant urban center in the western part of the state and New England, is increasingly recognized as a premier retirement destination. Travel + Leisure, in collaboration with Investopedia, ranks Springfield sixth among the top 50 U.S. cities for retirees, based on factors such as living costs, entertainment, travel access, and healthcare availability. For those contemplating their post-career chapter, Springfield offers a dynamic blend of urban vibrancy and financial accessibility.
Financially, Massachusetts provides several benefits for seniors. Social Security benefits and public pension income are exempt from state taxes, offering considerable relief. Additionally, the state extends a Senior Circuit Breaker Tax Credit, valued at $2,730 for the 2024 tax year, which is a refundable personal income tax credit for state residents aged 65 and older who own or rent property. Despite Massachusetts having a relatively high state income tax rate of 5%, only those with incomes exceeding $1,053,750 are subject to an additional 4% surtax, making it more manageable for most retirees. Housing in Springfield is notably affordable, with a median home value in Hampden County at $276,300 and median monthly housing costs around $1,309. The state sales tax rate is a modest 6.25%.
Springfield offers a rich tapestry of activities. Situated amidst mountains and hills near the Connecticut River Valley, it boasts abundant outdoor opportunities. Hampden County features 160 arts and entertainment venues, including the Springfield Public Forum, which hosts distinguished speakers like Supreme Court Justice Ketanji Brown Jackson. The downtown Quandrangle is a cultural hub, housing art museums, a Dr. Seuss Museum, and a science museum. The MassMutual Center provides a venue for ice hockey games and various expos. For outdoor enthusiasts, the City of Springfield Parks and Recreation Department manages the accredited Franconia and Veterans golf courses, and urban parkland constitutes over 10% of the city’s area.
Transportation is another advantage. Springfield’s downtown area boasts an impressive “walk score” of 88 from the Economic Research Institute, signifying its pedestrian-friendly nature. However, a car might still be necessary for broader travel. Bradley International Airport, approximately 20 miles away, serves as the primary air travel hub for western Massachusetts. Union Station, a major Amtrak stop, offers extensive rail services, and Peter Pan Bus Lines provides regional connections throughout the Northeast.
Healthcare access is crucial for retirees, and Springfield excels in this regard. Hampden County features 22 hospitals and 683 other healthcare facilities, including the highly-rated Baystate Medical Center and Mercy Medical Center within Springfield. Massachusetts also exempts prescription medical devices and medications from sales tax and offers an income-based home healthcare program for individuals aged 60 and older or those with specific disabilities.
Springfield, MA, represents a thoughtful choice for retirees seeking a fulfilling lifestyle. Its balance of cost-effectiveness, diverse cultural and recreational offerings, excellent infrastructure, and robust healthcare system makes it a standout option for a vibrant and comfortable retirement. The city’s welcoming atmosphere and community resources further enhance its appeal, promising a rich and active post-career life.