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Toledo ranked #2 on list of most affordable cities

A new report by AdvisorSmith ranks several cities as perfect places to retire.

TOLEDO, Ohio — A new report points to Toledo as the second Most Affordable Large City for Retirees. 

Toledo has a senior population (age 65+) of 17.1%, which is a little more than the national average of about 16.4%. And thanks to the weather, award-winning metroparks, museums and access to the Great Lakes, the Glass City has caught the eye of retirees.

A new report by AdvisorSmith shows that out of the top 20 large cities, four in Ohio ended up in the top spots: #1 Youngstown, #2 Toledo, #3 Akron and #5 Cleveland. 

PR Specialist Brenda Franco says several factors influence different aspects of what makes a place attractive for retiring. She says where people look to retire depends on a variety of factors, weather, entertainment, taxes, cost of living. 

"Something about Ohio that's ranking it very high is that the cost of living in these cities is way below the national average."

Other factors that make Toledo great for retirees are cheaper food, public transportation and housing. Toledo has a cost-of-living index of 87, making it 13% more affordable than the national average. . 

Oh, and for those of you interested in knowing what the least affordable large city was, it's Honolulu, Hawaii. 

You can see the full list and learn more about AdvisorSmith's methodology here: https://advisorsmith.com/data/most-and-least-affordable-cities-for-retirees.

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