Palm Springs is a Hot Place to Retire
Affordable living costs cited as a big draw
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A typical three-bedroom home can be had for just $250,000, down from about $450,000
A lot of “bang for your buck,” endless sunshine, and mountain views make Palm Springs a hot place to retire according to Money magazine. It’s named the desert city as one of its 25 best places to retire.
Palm Springs Mayor Steve Pougnet said he isn't surprised that the Coachella Valley tourist mecca is ranked number two on the list.
“With our spectacular mountain views, year-round sunshine, relaxed desert lifestyle and affordable living, Palm Springs truly is a paradise,” he said.
The magazine reported that 42 percent of the city's population of 48,000 is over 50 years old. Housing prices are down 44 percent and a three-bedroom home can be bought for around $250,000, according to the magazine.
The magazine also noted that the city boasts mid-century modern architectural landmarks created by Richard Neutra and Albert Frey, the annual Palm Springs International Film Festival and quality paintings and sculptures in the Palm Springs Art Museum.
