0
0
0

Seattle is the best place to downsize and save in retirement

by Emily Marek

The Emerald City is a perfect match for homeowners looking to downsize in their golden years, according to research from Mirador Living.

The assisted-living search platform analyzed Zillow data and found that Seattle is the No. 1 city for seniors who stand to save big money by downsizing from a three-bedroom living space to a one-bedroom space.

Given the average price of a three-bedroom living space — $1,052,043 — downsizers in Seattle stand to decrease their housing costs by 64.5% when selling and moving into one-bedroom spaces, which carry an average price of $373,433.

On the flip side, in a place like Oklahoma City, where the average three-bedroom home costs $225,625, one-bedroom homes are only 6.57% less expensive.

“Cities like Seattle, San Francisco and San Diego offer the biggest cost reductions, making downsizing not just a lifestyle choice but a smart financial move,” Dharam Khalsa, CEO and co-founder of Mirador Living, said in a press release. “Downsizing can be a complex decision, but understanding where it offers the greatest financial benefits can help retirees make informed choices for their next chapter.”

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.