Foley Named to Top Retirement Location List

The City of Foley has announced that a national study by GOBankingRates found that Foley is the most cost-effective retirement location in the U.S. The study analyzed 100 cities in the country with a large population of adults 65 or older. The cities were ranked based on factors such as the average home value, property taxes, home health costs, the price of groceries and utilities and whether the state taxed Social Security benefits. The study found that Foley was the best place for a cost-effective retirement, as well as being an attractive location. GoBankingRates listed factors such as Foley’s proximity to the beach and that 30.7% of the population is 65 or older. Additionally, prices were comparatively low, with the annual cost of a home health aide at $46,218, the annual cost of groceries at $4,326 and the annual cost of utilities at $3,858. Also, Alabama does not tax Social Security benefits.