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How Much Does It Cost to Retire in Fresno, CA?

The cost of retiring in Fresno is in line with the national average, but there are several ways that the city’s seniors can save on living expenses. Social security benefits are exempt from taxation in California, and while sales taxes are relatively high, they do not apply to to groceries or prescription medications. Tax breaks, affordable housing, inexpensive transportation options and more help Fresno retirees to drastically cut back on their monthly spending.

The cost of housing

Fresno’s assisted living communities and nursing homes provide a spectrum of care services for the city’s elderly and disabled adults. Each facility charges residents a monthly fee that covers room and board along with meals, housekeeping, custodial care and more. Fresno seniors pay an annual median of $42,000 for assisted living care and $97,820 for private nursing care. Nursing home residents can save over $10,000 on their bills each year by bunking up with a roommate in a semi-private room.

If you decide to purchase a home in Fresno, you can expect to find prices that are similar to housing costs nationwide. Popular neighborhoods among retirees include Bullard, Woodward Park, Hoover, and the North Growth area. Homes in these and other Fresno neighborhoods cost a median of $190,600 July 2015, according to Forbes figures. Seniors who are not ready to commit to home mortgage payments can find affordable rental units located throughout the city. As of July 2016, average rates ranged from just $758 per month for a single apartment to $909 for a double.

The cost of health care

Medicare spending is lower for Fresno seniors than for beneficiaries living throughout the rest of California. While Medicare spent an average of $10,376 on each California beneficiary in 2014, the program paid just $9,982 per Fresno County resident. If you are a Medicare recipient, make sure that you understand what deductibles and copays you must cover out-of-pocket for different health services and care providers.

The cost of transportation

When it comes to auto insurance, Fresno seniors tend to pay less than their younger counterparts. While couples in their late 20s see annual premiums of around $1,168, elderly couples pay an annual average of $903 for coverage. Seniors who do not have a daily work commute are often able to find even lower rates.

Older adults who do not have a car or who cannot drive can use Fresno’s convenient and affordable public transit system to get around town. The Fresno Area Express (FAX) offers half-priced tickets and monthly passes to passengers over the age of 65.

Free fun for Fresno seniors

If you are looking for affordable entertainment and recreation, you can find plenty to do around the city of Fresno. Admission to the family-friendly Discovery Center Park and Deutsch Cactus Gardens is completely free, while tickets to the on-site Children’s Museum are just $5 for senior citizens. The Fresno Public Library also offers free classes, events and programs for older adults through its Senior Resource Center. Free movie nights take place every Friday night at Eaton Plaza in Fresno’s downtown district, where you can relax with friends and family while you enjoy a picnic and watch the season’s hottest theatrical releases.

Learn more about Fresno Retirement Planning here:

What's the Cost of Living in Fresno, CA?

Fresno Financial Advisors

Fresno Elder Law Attorneys

Fresno Senior Realtors

Fresno Senior Movers and Downsizers

Fresno Neighborhood Guide

Live Like a Local in Fresno

Fresno Demographics and Lifestyle

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