Retiring in Oregon: pros, cons, and must-know facts

Is Oregon a good place to retire?

Oregon is a Pacific Northwest oasis and a popular retirement destination for many Americans seeking a unique and picturesque environment with access to outdoor activities, cultural events, and a moderate climate. 

With its stunning coastline, mountains, and charming cities, Oregon offers a retirement experience that attracts many retirees every year.

According to data from the U.S. Census Bureau in 2024, Oregon had a population of approximately 4.3 million people, with nearly 20% of the population age 65 or older. That makes it, per capita, one of the older states in the country.

At what age can you retire in Oregon?

As with all other states, there’s no set retirement age in Oregon. But with that in mind, you should consider the following:

• Social Security benefits: The earliest age at which you can begin receiving Social Security benefits is 62, but if you delay taking benefits, your monthly payments will increase. Full retirement age (FRA) is between 66 and 67, depending on your birth year. Delaying benefits until after the FRA can result in even higher monthly payments. 

• Medicare eligibility: Medicare eligibility begins at age 65, regardless of retirement status. However, if you choose to retire before age 65, you will need to find alternative healthcare coverage until you become eligible for Medicare. 

• Age discrimination: It is illegal for employers to discriminate against employees or job applicants based on age. 

• Retirement savings: Regardless of one's retirement age, it is essential to start saving for retirement as early as possible. Many financial experts recommend saving at least 15% of your income for retirement. 

However, like any location, there are both pros and cons to retiring in the state. 

Why do people retire in Oregon?

If you’re kicking the tires on Oregon as a potential retirement spot, there’s a lot to like:

• Picturesque environment: Oregon is known for its natural beauty, from its stunning coastline to its majestic mountains. Retirees can enjoy living in a picturesque environment that offers plenty of opportunities for exploration and outdoor activities. 

• Moderate climate: Oregon's climate varies greatly depending on the region, but many areas have a moderate climate with mild winters and warm summers. This makes it an attractive destination for retirees who want to avoid harsh weather conditions. 

• Outdoor activities: Oregon is home to numerous national parks, forests, and beaches, providing ample opportunities for outdoor activities such as hiking, camping, fishing, and skiing.

• Culture: Oregon is a lively state, with numerous museums, galleries, and performing arts venues. The state hosts several festivals and events throughout the year, including the Oregon Shakespeare Festival, the Portland Rose Festival, and the Bend Film Festival. 

What puts people off retiring to Oregon?

There are some potential downsides to retiring in Oregon:

• Cost of living: Oregon's cost of living is generally higher than the national average, which could be a concern for retirees on a fixed income. Housing and healthcare costs, in particular, are higher than in many other states. 

• Traffic: Oregon is known for its traffic congestion, particularly in and around major cities like Portland and college towns like Eugene. 

• Natural disasters: Oregon is prone to natural disasters such as wildfires, earthquakes, and floods, which could be a concern for retirees living in certain areas. Note, too, that there are also numerous volcanoes in the state, not that they erupt constantly, but that is something to be aware of.

Best places to retire in Oregon

Here are some top retirement destinations in Oregon:

• Bend: Bend is a vibrant city located in Central Oregon. It offers plenty of outdoor activities such as hiking, fishing, and skiing. Bend is also known for its cultural scene, with several museums, art galleries, and music venues. 

• Ashland: Ashland is a small city located in Southern Oregon. It is known for its Shakespeare Festival, which draws visitors from all over the world. Ashland also offers plenty of outdoor activities, including hiking, skiing, and fishing. 

• Eugene: Eugene is a college town located in the Willamette Valley. It offers a laid-back lifestyle and a lively cultural scene. Eugene is known for its natural beauty, including the nearby Cascade Mountain range.

• Salem: Salem is the capital city of Oregon and is located in the heart of the Willamette Valley. It offers a diverse range of cultural activities, including the Oregon State Fair and the Salem Art Fair. Salem is also close to several vineyards and wineries. 

• Portland: Portland is the largest city in Oregon and offers a wide range of cultural and outdoor activities. It is known for its food scene, microbreweries, and coffee shops. Portland is also close to several natural attractions, including Mount Hood and the Columbia River Gorge. 

• Corvallis: Corvallis is a small city located in the Willamette Valley. It is home to Oregon State University and is a colorful town. Nearby activities also include hiking, biking, and fishing. 

• Hood River: Hood River is a small city located in the Columbia River Gorge. It is known for its scenic beauty and outdoor activities, including windsurfing, kiteboarding, and skiing. Hood River is also close to several vineyards and wineries. 

To retire in Oregon or not?

Oregon offers a range of benefits for potential retirees, from a mild climate to picturesque scenery and outdoor activity opportunities, but prepare for a higher cost of living. 

Accordingly, it's important to seek expert financial advice to weigh up all of the costs associated with retiring in Oregon, including property taxes, insurance, and living expenses, in order to make an informed decision about whether the state is the right choice for your retirement. 

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