Report: Buffalo Is the 42nd-Worst City for Retirees

Buffalo, N.Y., is the 42nd-worst place to retire, according to a new WalletHub study comparing more than 180 U.S. cities across 45 key metrics. The analysis considered factors ranging from the cost of living and tax laws to the availability of activities and the quality of healthcare.

Figuring out the right place to retire is important because financial security in retirement is far from guaranteed. Only 21% of workers are very confident they'll have enough money to retire comfortably, and nearly three-quarters expect to continue working in some capacity after they retire.

“It's important to choose wisely when picking where to retire, as many retirees are on a fixed income. The best cities help retirees stretch that income further with low taxes, a low cost of living, and opportunities for continued part-time work,” said WalletHub analyst Chip Lupo. “Seniors deserve to live out their golden years in a place that delivers high-quality healthcare, has a clean and walkable cityscape, and provides an abundance of activities that can help seniors make friends and enjoy their retirement to the fullest.”

In-Depth Look at Buffalo

Buffalo has the 15th-most part-time job opportunities for older workers, a plus for retirees who want flexible, supplemental income. The city also has the 16th-most recreation and senior centers per capita, giving retired people a good place to find activities and make friends. In addition, the city appears on AARP's Age-Friendly Communities list.

However, Buffalo has room for improvement in other areas. For example, the city has the second-worst weather, which isn't great for retirees who prefer a mild climate year-round. In addition, New York has the sixth-worst tax-friendliness ranking among the 50 states, so living there on a fixed income can be expensive. Most concerningly, the city's public hospital system ranks as the ninth-worst in the country.

How Buffalo Ranks in Key Categories

• 133rd for affordability
• 52nd for activities
• 146th for quality of life
• 125th for healthcare

Overall, this puts Buffalo in 141st place out of the 182 cities in WalletHub's study.

Best Cities for Retirement

The methodology can be found on the full version of the article on WalletHub.