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Cost of moving: Retiring in a college town

There are a number of benefits associated with retiring to a college town.

There are a number of benefits associated with retiring to a college town.

Once the glorious day of your retirement comes, you may find yourself wanting to leave the memories of your 9-to-5 life behind and strike out anew, perhaps by reliving the golden days of college. If that sounds crazy to you, consider this: There are a number of benefits to packing up and moving to a college town for retirement.

Living in a college town can be quite affordable, according to U.S. News and World Report. If you thought it was going to be tough living on a fixed income after retirement, remember: Most college kids are even more broke than you are. Local businesses and cultural institutions typically understand this, and adjust their prices accordingly. While it's not a given that every college town will always have the best deals, you can pretty much count on the fact that young adults are going to try to do as much as they can for as little as they can, and that businesses are going to try to capitalize on every dollar they can make. As a senior living nearby, you too can reap the benefits of discount goods and services geared toward college students. Moving companies are also typically familiar with college towns, since students are constantly moving back and forth between home and school.

Home prices can be quite affordable in college towns, as well. Again, this isn't always true, but the principle is roughly the same for housing as it is for goods and services, according to U.S. News and World Report. Market prices can't exceed the public's ability to pay, and with much of the population of college towns comprised of limited-income students, as well as teachers and support staff who aren't raking it in like investment bankers, home prices can't rise too high, John Howells, author of "Where to Retire: America's Best & Most Affordable Places," told the source.

On top of the price perks, college towns offer a veritable cornucopia of fringe benefits that are perfect for retirees looking to fill their autumn years with fun. A number of universities offer free or discounted classes for older area residents, or continuing education programs geared specifically toward senior citizens, according to U.S. News. And like any good admissions counselor will tell you, education doesn't stop at the classroom door. College towns also typically attract lecturers, performers, traveling art exhibits and events that are open to the public.