Advantages & Disadvantages of Retiring in NYC
You think about retiring in New York City but want to get additional information about the city, quality of life, medical infrastructure, public transport, living costs and many other things before making your final decision in this regard?
Great! This article is exactly for you since I will show you the pros and cons of retiring in NYC in the following chapters.
Retire in New York City – Overview
Living Costs | Living costs in NYC are higher than in most other cities in the US. |
Housing | Housing shortage is a big problem in New York City and property prices and rents are significantly above national average. |
Climate | New York City has a humid continental climate with warm summers and pretty cold winters. |
Crime | New York is a pretty safe city and crime rates are lower compared to most other big cities in the US. |
Opportunities to Socialize | More than enough senior centers, restaurants, bars and other locations where you can hang out with fellow pensioners and have a great time. |
Entertainment | You can go to a spa, listen to live music, attend art classes and do many other things in this vibrant city. |
Public Transport | Public transport in NYC is pretty good as long as you live close enough to the city center. |
Walkability & Bicycling | New York City is pretty bike-friendly and since distances are pretty short and you will find everything you need within walking distance, you may not even need a car to get around. |
Medical Infrastructure | Many great doctors and hospitals in New York City. |
Supply of Material Goods | Excellent supply of material goods and you will find most things you need for daily life at almost every corner. |

Reasons for Retiring in New York City
- NYC is a pretty safe city
- You will have more than enough entertainment in NYC
- Many senior centers in New York City
- Easy to socialize with other pensioners in NYC
- Many great restaurants in NYC
- Many opportunities to go for a drink
- New York City has decent public transport
- Easy to get around by bicycle in NYC
- You will have most things you need within walking distance
- You may not even need a car in NYC
- More than enough good doctors and hospitals in NYC
- New York City is not too hot
- Your family and friends have an easy time visiting you in NYC
- Excellent internet connection in NYC
- More than enough opportunities to buy healthy foods
- NYC will be an attractive place for pensioners for many years to come
- Many of your friends will envy you for retiring in NYC
NYC is a pretty safe city
One advantage of retiring in New York City is that it is a pretty safe place and you therefore don’t have to worry about getting robbed or getting involved in other unpleasant incidents as much as people living in Indianapolis or other cities where crime is a much bigger problem.
You will have more than enough entertainment in NYC
New York City also offers lots of entertainment. Not only will you find many great sports teams but you will also have to do more than enough other things to do with your leisure and this is really important for you as a pensioner since you will have so much time and need lots of things to do so you never get bored and annoyed with your pensioner life in NYC in the long run.
Many senior centers in New York City
Another upside to retiring in New York City is that you will also have many senior centers where you can meet up with other pensioners and can play parlor games or do other things together so you will have many opportunities to hang out with other people of your age.
Easy to socialize with other pensioners in NYC
In general, it is pretty easy to socialize in NYC as a pensioner since you will have so many different things to do and chances are that you will be able to meet many like-minded people of your age who want to spend time with you on a regular basis so you can make really good friends for a lifetime.
Many great restaurants in NYC
There are also many great restaurants where you can try delicious foods from various parts of the world and if you have enough money, you can really enjoy your life in this regard and can have many excellent culinary experiences many other people living in smaller towns often don’t have.
Many opportunities to go for a drink
Since you will have many excellent bars in NYC, you will also find more than enough locations to hang out for a drink with your fellow pensioners so you will have opportunities to really connect to your peers on a deeper level and can also make this a nice routine which gives you the incentive to leave your home.
New York City has decent public transport
Another benefit of retiring in NYC is that the city has excellent public transport near the city center and you can therefore just get around by train or bus instead of relying on your car.
Easy to get around by bicycle in NYC
New York City is also a bicycle-friendly place and you can therefore just use your bike for short distances which is not only great for our environment but also keeps you fit and you can also save lots of money on gas in the long run.
You will have most things you need within walking distance
Since you will have excellent public infrastructure in NYC, you will also find grocery stores and many other important things of daily life within walking distance and will never run out of material goods.
You may not even need a car in NYC
Since distances are pretty short near the city center and you can rely on public transport, get around by bicycle or just walk short distances, you may not even need a car and this can be great for you as a pensioner since this not only saves you lots of money but can also be convenient in case your vision gets worse and you may no longer be able to drive a car in a safe manner anyway.
More than enough good doctors and hospitals in NYC
New York City can also be a great place for pensioners since there are many great doctors and hospitals where you can get the best medical support in case you get sick and need medical assistance to recover as quickly as possible and you can really have peace of mind that you get high-quality medical treatment in this city.
New York City is not too hot
While moving to Austin or other places may not be great for pensioners since those cities may just be too hot, NYC has a pretty nice climate for retirees since it is not as hot and humid as many other places where pensioners often struggle with their circulatory and may even faint from time to time.
Your family and friends have an easy time visiting you in NYC
Since NYC has a big international airport, your family and friends from all over the US and even the world have a pretty easy time visiting you in this city and you can therefore maintain your social contacts much easier compared to people living in smaller towns where it is much harder to visit them.
Excellent internet connection in NYC
You will also have an excellent internet connection in NYC and this can be great for pensioners since they can chat and make video calls with their loved ones on a regular basis almost for free and this allows them to stay connected with their family and friends in a convenient manner.
More than enough opportunities to buy healthy foods
People in NYC also try to live a pretty healthy lifestyle and this can be great for you as a pensioner since you will have many grocery stores where you can get healthy food and consuming those foods may keep you fit and vital in the long run.
NYC will be an attractive place for pensioners for many years to come
Since NYC is the biggest city in the US, it will stay an important place to live and retire for many decades and you don’t have to worry about public infrastructure becoming worse anytime soon.
Many of your friends will envy you for retiring in NYC
Since NYC is a pretty popular place, many of your friends will really envy and admire you for retiring in NYC and may secretly want to change places with you.
Now that you know the reasons for retiring in New York City, we also have to talk about the drawbacks of retirement in NYC in the following so you can better decide whether you still want to retire in NYC or rather want to spend the last part of your life in a different location instead.

Disadvantages of Retiring in NYC
- Living costs in NYC are pretty high
- Many pensioners have a hard time finding a decent place to stay
- Rents and property prices have skyrocketed in NYC
- Medical bills can be quite expensive
- You may not be able to afford many pretty things
- Many retirees struggle to just make a basic living in NYC
- Overall financial pressure in NYC is high
- Many pensioners still have to work to cover their expenses
- You may get socially isolated if you don’t have money
- Public transport in NYC gets worse outside the city center
- Many pensioners have to live in rather dodgy neighborhoods
- Poverty is a big problem among retirees
- NYC can be pretty hectic
- NYC is a crowded place
- NYC is too cold for many pensioners
Living costs in NYC are pretty high
One problem with retiring in New York City is that living costs are pretty high in this region and everything that is fun will usually cost you lots of money.
Thus, if you go out for a drink or do many other things, you should be aware of the fact that you will have to spend more for it than people living in Louisville or other cheaper places.
Many pensioners have a hard time finding a decent place to stay
Since housing shortage is a big problem in Big Apple, many pensioners in NYC also have a pretty hard time finding a decent place to stay and have to search for many weeks or even months in this regard.
Moreover, many retirees often have to worry about losing their home since competition in the housing market is fierce and in case this happens, they may even end up homeless in the streets in case they don’t find an affordable place to stay.
Rents and property prices have skyrocketed in NYC
You should also know that rents and property prices have skyrocketed in NYC over the past decade and if this trend continues any further, chances are that many retirees are no longer able to afford a decent place to stay and may have to leave NYC and only younger people who make really good money may still be able to live in this region.
Medical bills can be quite expensive
While you will have excellent medical infrastructure, you should also know that doctors often charge pretty high prices for their services and if you don’t have proper health insurance, you may not be able to afford really good medical treatment in the New York region.
You may not be able to afford many pretty things
Another downside to retiring in New York City is that due to high living costs, you may just not be able to afford many nice things as a pensioner and while other people have fun and can buy many pretty things, you may just sit at home since you may not have enough money to buy nice things or to engage in nice activities.
Many retirees struggle to just make a basic living in NYC
While many pensioners are not able to afford many nice things, many retirees even struggle to just make a basic living in NYC and if you don’t receive a really good pension, NYC may not be the best place to retire since you may just not get happy with your overall financial situation.
Overall financial pressure in NYC is high
Due to high living and housing costs, overall financial pressure is high for many retirees in NYC and if you are not careful, you may just overextend yourself and may get into serious financial trouble sooner or later.
Many pensioners still have to work to cover their expenses
Since living and housing costs are pretty high and many pensioners underestimate the costs of retiring in NYC, many of them even still have to work during retirement age to cover their expenses.
You may get socially isolated if you don’t have money
While NYC can be a great place to retire as long as you have enough money, you may get socially isolated in case you don’t receive a pretty high pension since you will simply not be able to join many nice activities with fellow pensioners if you don’t have the financial capabilities to do so and may rather sit at home and lose your social connections in the long run.
Public transport in NYC gets worse outside the city center
While public transport is pretty decent near the city center, people in the suburbs and outskirts of NYC often complain about poor public transport and if you can’t afford to live in the city center, you may have a hard time as a retiree in NYC since you may just have limited opportunities to get around in an efficient and convenient manner.
Many pensioners have to live in rather dodgy neighborhoods
Another disadvantage of retiring in NYC is that you will also have many rather dodgy neighborhoods in this region and if you choose the wrong neighborhood due to a lack of knowledge or just since you cannot afford a fancy place to live in, you may run into all sorts of trouble and situations you may no longer be able to handle as a senior citizen in a proper manner.
Poverty is a big problem among retirees
Since you will have to deal with enormously high living costs in NYC, poverty is a big problem among many retirees who often worked hard for many decades but are still not able to make a decent living from their pensions since everything is just too expensive.
NYC can be pretty hectic
You should also know that NYC is a pretty hectic place where people are usually pretty career-focused and are often in a rush to get from one meeting to the next.
Consequently, NYC is not the most relaxed place and if you want to live the last period of your life in a rather laid-back atmosphere, you may be better off moving to San Francisco or other more relaxed places.
NYC is a crowded place
While many pensioners really like the atmosphere of NYC and big city life in general, NYC will not be the best place to retire for you in case you rather want to spend the last period of your life in a more quiet place and don’t want to live in a city where light pollution is present 24/7.
NYC is too cold for many pensioners
You should also know that winters in NYC are pretty cold and if you can’t stand cold weather at all, you may be better off moving to Houston or other warmer places instead.

Top 10 Retiring in New York City Pros & Cons – Summary List
Retire in NYC Pros | Retire in NYC Cons |
---|---|
Good medical infrastructure in NYC | Housing shortage is a big problem in NYC |
Many senior centers in NYC | Living costs are often too high for pensioners |
More than enough things to do for retirees in NYC | Many retirees struggle to find a decent place to stay in NYC |
Decent supply of material goods in NYC | Overall financial pressure is high for pensioners in NYC |
New York City has decent public transport | You may get socially isolated if you don’t have money |
Easy to get around by bicycle | Retirees often have to live in dodgy neighborhoods in NYC |
You will find most things within walking distance | Public transport is not great outside the city center |
Easy to socialize for pensioners | NYC may be too cold for many pensioners |
Many great restaurants and bars | NYC is pretty crowded |
Excellent public infrastructure in NYC | New York City may be too hectic for you |
Is New York City A Good Place To Retire?
While New York City can be a great place to retire since overall quality of life is high and you will find excellent medical infrastructure and good public transport, you should also know that NYC is a pretty expensive place and many pensioners have a really hard time paying their bills in the long run.
Alternative Cities To Retire
If you don’t want to retire in New York City, you should also have a look at the following articles:
Advantages and disadvantages of living in Greensboro
Advantages and disadvantages of living in Pittsburgh
Advantages and disadvantages of living in St. Louis
Sources
Own research.

About the author
This site is about living, moving and traveling to various parts of our fascinating planet.
My name is Andreas and when I was younger, I traveled the world and learned a lot about different cultures and countries.
Thus, I want to share my experiences with you so you can benefit from them and avoid common mistakes in this regard.
In my articles, you will find everything you need to find the best location for a happy and successful life.