In a recent national study conducted by GOBankingRates, Foley emerges as the most cost-effective retirement destination across the United States. The survey, focusing on optimal retirement locations, has gained significance as the aging population, particularly baby boomers, seeks viable locales offering favorable living conditions within their financial means.

Analyzing 100 cities nationwide with a substantial population aged 65 or older, the study employed various metrics including average home value, property taxes, home health costs, grocery prices and utility expenses. Additionally, the study factored in whether the state levied taxes on Social Security benefits. Foley, situated just north of the Gulf beaches, excelled in these criteria, cementing its position as a premier retirement spot.

Key findings from the study underscore Foley's appeal, highlighting its affordable living costs juxtaposed with its attractive amenities. Notably, 30.7% of the population in Foley is aged 65 or older, indicating its popularity among retirees. The city boasts relatively low expenses, with an annual expenditure of $46,218 for a home health aide, $4,326 for groceries and $3,858 for utilities.

Moreover, Alabama's favorable tax policy, which exempts Social Security benefits from taxation, further enhances Foley's allure for retirees seeking financial stability.

The study's recognition of Foley's merits has also garnered attention from reputable publications like Travel and Leisure magazine.

While Foley clinches the top spot, other cities making the list of top retirement destinations include Mountain Home, Arkansas; Hot Springs Village, Arkansas; The Villages, Florida; and Bella Vista, Arkansas. Rounding out the top ten are Pinehurst, North Carolina; Green Valley, Arizona; North Myrtle Beach, South Carolina; Fredericksburg, Texas and Punta Gorda, Florida.

Conversely, Malibu, California finds itself at the opposite end of the spectrum, cited as the least economically viable destination for retirees, with exorbitant home prices notably contributing to its unfavorable ranking.

Overall, the study sheds light on Foley's exceptional suitability as a cost-effective and desirable retirement haven, offering retirees a harmonious blend of affordability and quality living standards.