7 Recession-proof Places To Retire

Reprinted from SmartMoney.com, April 10, 2008





7. Tucson, Ariz.
A warm, sunny climate and rich cultural heritage have long kept Tucson at the top of retirees' list of winter vacation destinations. However, with a cost of living that's 3% below the national average, a strong job market and steady home prices, there's plenty to enjoy about this city all year.

"Tucson is a dynamic, growing retirement spot, so there are plenty of job opportunities, although the pay is often low," Bland says.Though it's not quite a college town, Tucson relies heavily on the University of Arizona as its second-largest employer. Technology and tourism (mostly from snowbirds) also provide plenty of jobs.

Steady expansion and new developments have kept housing relatively affordable, with costs at about 20% below the national average. The average sale price for existing homes dropped just 0.01% in 2007, to $244,800. Expect real-state prices to remain solid, thanks to increasing interest in the area as a retirement destination.

The most popular areas are planned communities (retirement-specific and otherwise) northwest of the city, including Oro Valley and other towns in the foothills of the Santa Catalina Mountains.

This article was reported and written by Kelli B. Grant for SmartMoney.com.

Published April 10, 2008