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How Much Does It Cost to Retire in Portland, OR?

There are a lot of people moving to the Portland area, so the cost of retiring here is likely to go up more over time. Portland has a thriving arts and music scene as well as an eclectic mix of people from all over the world. Affording retirement in Portland is possible with careful consideration and planning.

Cost Of Accommodation And Utilities

Of course, your most major living expenses are going to be rent, utilities, and possibly medical care. This means you need to plan for a cushion to accommodate increased needs and services over time. If you have someone to split expenses with, then you can have an easier retirement on a limited budget.

Many seniors enjoy having a roommate for companionship and sharing household duties. The longer you can stay independent and the more things you both can take care of, the less the cost of utilities and accommodations are overall.

One bedroom apartments in Portland rent for $1532 and two bedroom apartment rents average $1823. Some one bedroom units can run on the small size. Portland is a very popular city at the moment, so housing is in great demand. Of course splitting a two bedroom means rent of $912 per month instead of the $1532 of renting alone.

The median price for purchasing a home in Portland is $368,800. Home prices have skyrocketed in Portland, rising and outstanding 21.6% with an expected rise of at least 6% over the next year. If you want to purchase a home here, you might be better off buying sooner rather than later.

Health Care And You Over The Years

Portland has a lot of word class health care and doctors. Being located on the I-5 corridor also gives you access to a lot of other major medical facilities as well. If you are not sure how much your insurance or pension plans cover, then now is the time to look into it.

You may qualify for benefits that you are unaware of. Financial planners, family lawyers, and insurance providers can help you sort through this. Some benefits such as veterans benefits may take some time to apply for, but could pay a lot of your medical costs. Even if you are in good health now, you need to be prepared for any health issues that may arise as you age.

Transportation Options Abound

Portland is one of the front-runners when it comes to pedestrian-friendly neighborhoods. The city has a ton of bicycle lanes and sidewalks, so it is easy to get around if you don't want to maintain a vehicle. The bus system offers inexpensive service throughout the city, so you can enjoy all the sights and sounds around you.

Having Fun And Staying Busy In Portland

If you are an outdoor enthusiast, then you will enjoy a beautiful day in Portland. The numerous green spaces provide easy access to nature and fun throughout the year. Music fans will be happy with the array of musical acts that play in Portland throughout the year.

Learn more about Portland Retirement Planning here:

What's the Cost of Living in Portland, OR?

Portland Financial Advisors

Portland Elder Law Attorneys

Portland Senior Realtors

Portland Senior Movers and Downsizers

Portland Neighborhood Guide

Live Like a Local in Portland

Portland Demographics and Lifestyle

Find assisted living in Portland near you.