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From Marketwatch

As the cost of housing (and living) increases in Texas, seniors are at risk of being priced out of Texas’ largest cities. With the average “over-65” household spending just over $49,000 annually, seniors retiring in Austin, Dallas and Houston are finding it more and more difficult. According to GoBankingRates.com, the average cost of living in these Texas cities already exceeds the average spending level of retired households.

According to the data, the projected cost of retiring in Austin will cost somewhere between $60,000 and $69,999; in Dallas and Houston, seniors can expect to pay somewhere between $50,000 and $54,999. While MarketWatch.com suggests that households should plan to pay off their mortgages prior to retiring in these areas to curb housing costs. However, those who do not own homes or who are not in a position to be able to pay off their mortgages before retiring will be adversely affected by the ever rising cost of living. Further, seniors who are renting their housing are less able to insulate themselves from rising housing costs, increasing the number of cost-burdened households across the state.

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