SoCal suburb named the best place to retire in California

A Southern California retirement community has been crowned the best place to spend your golden years in the Golden State, while a small Central Valley city landed at the bottom of the rankings.A new study from personal finance website GOBankingRates named Laguna Woods as California’s best city for retirees, citing its combination of retirement income, livability and relatively manageable living costs.At the other end of the spectrum, Orange Cove, a small Fresno County city, was ranked as California’s worst place to retire. Located in southern Orange County, Laguna Woods is one of California’s most retirement-focused communities.The city is home to the sprawling Laguna Woods Village, one of the nation’s largest age-restricted communities, and has one of the highest concentrations of residents aged 65 and older in the state.According to the report, households in Laguna Woods that receive retirement income average $41,089 annually, while households receiving Social Security collect an average of $24,300.

The city also posted an average monthly cost of living of $1,915, an average monthly mortgage cost of $2,874, a typical single-family home value of $482,377, and a livability score of 72. Orange Cove, by contrast, received California’s lowest retirement ranking.The small agricultural community southeast of Fresno recorded an average retirement income of $31,666 among households receiving retirement benefits, while households receiving Social Security averaged just $9,788.

It also had a livability score of 45, the lowest among California cities included in the study. While Orange Cove’s average monthly living costs and home values were lower than Laguna Woods, researchers found the city lagged behind on several measures tied to retirement well-being, including Social Security income and overall livability. The rankings also highlighted standout retirement destinations across the country. The Villages, Florida — one of America’s most...