Looking to stash some cash for your golden years? You might want to consider setting up a nest in Garland, Texas. According to a recent study by MutualFund.com, Garland has been named the second-best city in Texas and the sixth nationwide as a prime spot to save for retirement. The financial resource website ranked cities based on several financial health indicators, with Garland shining through in multiple categories, according to the City of Garland.
Key factors such as housing affordability, income growth, and cost of living were crucial to the rankings. Garland's particular strength was its high percentage of homeowners without a mortgage, an impressive 40.5%. This was a standout statistic in a previous February study that also pegged Garland as one of the top cities in America where homeowners aren't burdened by monthly housing payments.
But the praise for Garland doesn't stop with mortgage-free living. Other attributes that make this Texas locale a retirement haven include a home price-to-income ratio that's more amiable than most and income growth that's looking up year over year. Not to mention, Garland boasts a poverty rate that sits comfortably below the national average, making financial straits less of a common sight here.
Then there's the Texas-sized cherry on top: the state's absence of an income tax which sweetens the deal for potential retirees. It's a boon that's helped not just Garland, but also six North Texas cities in making their way into the top 20 of the MutualFund.com rankings, with Arlington leading the charge at No. 5.
Prospective retirees and savers eyeing Garland can rest easy knowing that their hard-earned dough has the potential to go further in this suburban enclave. If the notion of a wallet-friendly retirement appeals to you, Garland's doors are wide open, just as its pockets seem to be for its current crop of savvy savers.
