Yahoo Finanzas 15 Best Places to Retire in Kansas
This article looks at the best places to retire in Kansas. If you wish to skip our detailed analysis of changing retirement attitudes and retirement in Kansas, please proceed directly to 5 Best Places to Retire in Kansas.
Changing Attitudes Towards Retirement
Retirement in America isn’t as straightforward and fated as it used to be. One simple reason for this is that retirement in the post-pandemic economic circumstances is vastly more expensive than before. According to Northwestern Mutual, the average American now believes they need $1.46 Million to retire comfortably in comparison to $951K in 2020.
One might infer that this may compel individuals to delay their retirement and continue to divert savings towards their nest eggs, however, not everyone shares this vision. In fact, attitudes towards retirement have become more diversified in the post-pandemic environment, with individuals considering many alternative paths to retirement.
The Charles Schwab Corporation (NYSE: SCHW) reports that most Gen Z individuals plan on retiring by the age of 61. This observation is ratified by Edward Jones’s study that most emerging adults (ages 18-34) wish to retire by the age of 61. If this sounds too good to be true, then it probably is. Edward Jones reports that emerging adults are less inclined to save than their predecessors.
“Our data found that financial advisors’ GenNext clients [next generation of clients] want to retire at 61 – three years ahead of the generation before them but are less focused on saving for retirement than their parents or grandparents. Instead, they are prioritizing family planning (30%), everyday expenses (28%) and investing (23%).”
-Julia Bartak, Financial Advisor, Edward Jones
At the same time, many potential retirees are considering alternative paths to retirement. According to a survey by Fidelity Investments, 66% of adult financial decision-makers are planning for a gradual, phased-in retirement. Moreover, many individuals are looking to pursue their dreams and passions in their second act, with 60% of Gen Zs and 58% of Millennials hoping to abandon traditional retirement paths in favor of traveling, relocating, or even opening a new business.
In addition to phasing out of their careers, many seniors are putting off retirement by continuing to work full-time beyond the conventional retirement age of 62. According to F&G Annuities & Life, Inc. (NYSE: FG) 64% of pre-retirees are considering or have taken action to delay their retirement. In addition, F&G Annuities & Life, Inc. (NYSE: FG) reports that 44% of U.S. retirees or former retirees have returned or are considering returning to work.
This attitude towards delaying retirement is motivated by both personal and financial factors. According to F&G Annuities & Life, Inc. (NYSE: FG), among retirees considering coming out of retirement, 50% say it is because they enjoy the intellectual stimulation from working. In contrast, a survey of 401K participants by The Charles Schwab Corporation (NYSE: SCHW) found that 62% of workers see inflation as an obstacle to saving for a comfortable retirement. 78% of respondents said these conditions are impacting their spending and saving habits, and 36% plan to delay retirement because of these conditions, per The Charles Schwab Corporation (NYSE: SCHW) survey.
Thus, while retirement continues to be a concern for all generations, there are plenty of different strategies you can utilize to save for retirement. One common strategy for retirement is to relocate across state borders. The best states for retirement tend to be the ones that can provide you with the right combination of comfort and affordability. For those living in the Midwest, there are plenty of cities in Ohio, Illinois, and Michigan that can be considered as the best places to retire in.
Retirement in Kansas
Another state retirees can consider retiring to is Kansas. There are many advantages of retiring in Kansas. The Sunflower State has an average cost of living 12.9% lower than the national average. According to Redfin Corporation (NASDAQ: RDFN), the median home price in Kansas as of March 2024 was $262,100. This is significantly more affordable than the national median home price in March 2024, which Redfin Corporation (NASDAQ: RDFN) quotes as $420,321. Thus, for retirees interested in affordability, Kansas is one of the Best States for Retirement in the US in 2024.
Conversely, Kansas has moderately high taxes that can be unfavorable to retirees. Kansas remains one of the few states that continue to tax social security, albeit partially. Seniors with an adjusted gross income under $75,000 are exempt from social security taxes. However, other forms of retirement benefits such as private pensions and 401Ks remain fully taxed, as do withdrawals from retirement accounts.
Another important factor to consider is that Kansas lies in the Tornado Alley and witnessed 44 tornadoes in 2023 alone. That said, the state has moderately warm summers and mild winters, making it one of the few states that feature all 4 seasons impartially. With these factors considered, join us as we look at the best places to retire in Kansas.
15 Best Places to Retire in Kansas
Methodology
To develop our list of best places to retire in Kansas, we initially picked out the most recommended best places to retire in Kansas on the internet. We used 10+ sources including our list of 15 Best Cities to Retire in the Midwest, 51 Best Cities to Retire on $3,500 a Month, and 29 US Cities Where You Can Retire on $2000 a Month to develop a shortlist. Among these best places to retire in Kansas, we developed a scorecard using metrics such as livability scores, cost of living, median rent, and median home prices. Livability scores were sourced from Area Vibes while median rent and median home prices were obtained from Zillow Group, Inc. (NASDAQ: Z) and Redfin Corporation (NASDAQ: RDFN) respectively. By standardizing these metrics on a linear scale, each place was scored, based on which we sorted our list in descending order. The top 15 places were chosen as the best places to retire in Kansas.
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Here are the best places to retire in Kansas.
15. Prairie Village
Insider Monkey Score: 10.35
Livability Score: 82
Median Home Price: $452,275
Median Rent: $2,650
IM Cost of Living: 100.6
Located in the suburbs of Kansas City, Prairie Village is one of the best places to retire in Kansas. In comparison to other places on our list, this city might be more expensive to live in, however, it provides excellent recreational opportunities through Harmon Park and Meadowbrook Park, along with access to all the amenities of Kansas City.
14. Overland Park
Insider Monkey Score: 11.02
Livability Score: 79
Median Home Price: $470,000
Median Rent: $1,995
IM Cost of Living: 98.6
Another Kansas City suburb, Overland Park is a vibrant community that is popular for hosting the Overland Park Fall Festival. In addition, the city is home to Overland Park Arboretum & Botanical Gardens, Prairiefire Museum, and plenty of delightful restaurants.
13. Olathe
Insider Monkey Score: 11.24
Livability Score: 78
Median Home Price: $438,550
Median Rent: $2,025
IM Cost of Living: 96.1
Olathe is one of the best places to retire in Kansas in terms of medical facilities. Olathe is home to the Olathe Medical Center, meaning that retirees have access to immediate healthcare. It also has immense natural beauty, exhibited in places such as the Ernie Miller Park & Nature Center, Ensor Park & Museum, and Cedar Lake Park.
12. Wichita
Insider Monkey Score: 12.49
Livability Score: 68
Median Home Price: $232,250
Median Rent: $1,395
IM Cost of Living: 84.4
Median home prices and cost of living in Wichita are close to the state median and the national average respectively, making it an extremely affordable place to retire in. Wichita is known as the “Air Capital of the World” and its heritage in aeronautics can be witnessed at the Kansas Aviation Museum. There is a wide tapestry of excursions to experience in Wichita, including games at the Riverfront Stadium, the flora and fauna of The Wichita Gardens, and literal treasures at the Museum of World Treasures.
11. Leawood
Insider Monkey Score: 14.32
Livability Score: 74
Median Home Price: $782,750
Median Rent: $2,505
IM Cost of Living: 102.1
Although Leawood is by far the most expensive place on our list in terms of median home prices, it is one of the best places in Kansas to enjoy a luxurious retirement. Being a suburb to Kansas City, it offers a blend of big city amenities with small city charm. The city also features several parks, shopping centers, and restaurants.
10. Lenexa
Insider Monkey Score: 14.33
Livability Score: 86
Median Home Price: $475,000
Median Rent: $1,900
IM Cost of Living: 97.6
Lenexa has one of the best livability scores on our list, which isn’t surprising considering the many amenities and excursions you get to revel in this city. It is home to over 30 parks, including the Sar-Ko-Par Trails Park and the Black Hoof Park. The latter features Lake Lenexa where visitors can enjoy excursions such as hiking, boating, and fishing.
9. Lindsborg
Insider Monkey Score: 15.42
Livability Score: 75
Median Home Price: $285,000
Median Rent: $1,650
IM Cost of Living: 78.7
Lindsborg is known for its Swedish heritage, so much so that it is called “Little Sweden”. The town features many art galleries and museums such as the Birger Sandzén Memorial Art Gallery and the Lindsborg Old Mill & Swedish Heritage Museum. In addition, the town also hosts the Svensk Hyllningsfest, a biennial celebration of its Nordic heritage.
8. Topeka
Insider Monkey Score: 15.47
Livability Score: 69
Median Home Price: $149,950
Median Rent: $895
IM Cost of Living: 81.0
The state capital also happens to be one of the best places to retire in Kansas. The city offers affordable housing along with numerous avenues for recreation and intellectual stimulation. There are plenty of parks to explore, including the Brown v. Board of Education National Historical Park, a landmark that commemorates the US Supreme Court decision to end racial segregation in schools in 1954.
7. Kansas City
Insider Monkey Score: 15.94
Livability Score: 75
Median Home Price: $261,000
Median Rent: $1,190
IM Cost of Living: 83.2
There are plenty of reasons to consider Kansas City one of the best places to retire in the state. The city is home to the University of Kansas Hospital and Medical Center, one of the best healthcare centers in the state. Moreover, if you’re a sports fan, you’ll be overwhelmed by the city’s sports scene. It is home to the Kansas City soccer team and the Kansas Speedway features both NASCAR and Indycar racing.
6. Shawnee
Insider Monkey Score: 16.40
Livability Score: 88
Median Home Price: $405,000
Median Rent: $1,700
IM Cost of Living: 96.6
Shawnee has the highest livability score on our list, making it one of the best places to retire in Kansas. The Shawnee Mission Lake offers plenty of excursions in the form of boating, fishing, sailing, and paddle boarding. Moreover, it is located just 15 miles from Kansas City, meaning residents have access to many big city amenities as well.
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Disclosure: none. 15 Best Places to Retire in Kansas is originally published on Insider Monkey.
