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State College, Pennsylvania, Site of Penn State University, is Lively, Safe, Friendly and a Place Retirees Will Want to Call Home
Cost of Living: Meets the National Average
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Youthful State College (population 42,000 with 80,000 in the surrounding borough), home to Penn State University, is located in rural, central Pennsylvania and is a quintessential college town. Part of a region known as "Happy Valley," it is surrounded by forested rolling hills, streams and a bounty of wildlife. Early settlers included the English, Germans, Mennonites, French Huguenots and Scotch-Irish Presbyterians, but State College did not come into being until the mid-1800s when Penn State was founded. Today it is a lively, growing and progressive town, and its identity is completely wrapped up in the University. Although only 15% of the residents are age 45 or better, State College has a lot to offer retirees (and the 50+ crowd is the fastest growing segment of the population). It is a friendly, safe, low stress kind of place and has a welcoming quality that is very appealing.
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State College's cost of living meets the national average, and the median home price is $185,000, below the national median price and less than the northeast's median price. Some town homes and comfortable 1,500 sq. ft. ranch-style and bi-level style homes in average but well-maintained neighborhoods can be found in the mid-$100,000s. The median price of $185,000 will fetch up to 2,000 or so sq. ft., two to three bedrooms, two baths and an attached garage. Homes in the low-$200,000s, where inventory seems to open up, are similar in size but in nicer neighborhoods. Residences in the $300,000s are large, up to 3,500 sq. ft., and are on large lots.
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This being a college community, there are lots of apartments, but most are geared toward students. The vacancy rate is low, driving up rental prices. Rents generally range from $400 a month (not recommended) for a one bedroom to $1,600 a month for a two bedroom (although apartments for $3,600 a month are available, too). Staying in the higher price range will likely reduce the chances of having a college student as a next door neighbor.
State College property taxes work out to roughly 1.2% of a home's fair market value, and taxes cannot exceed specific limits. The annual taxes on a $185,000 home are approximately $2,225. Rebates of paid property tax or rent, up to a maximum of $750 per year, are available to households with an annual income that does not exceed $35,000. When it comes to retirement income, Social Security, railroad benefits, military benefits and most other pensions are not taxed.
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Penn State University is a "public ivy" and one of the largest public universities in the country. Its campus, University Park, is in the middle of town and covers nearly 5,500 acres. It is the epicenter for 45,000 graduate and undergraduate students, 3,000 faculty and 13,000 other staff. Athletics are a big part of life at Penn State, and a variety of sporting events, from baseball and soccer to gymnastics and track, ensures that there is always a game or match to attend. And, of course, Nittany Lion football games are big business and a fun, if rowdy, way to spend autumn Saturday afternoons.
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But Penn State and State College are not just about athletics. The Bryce Jordan Center presents everything from concerts to rodeo competitions. The Center for the Performing Arts is the site of ballets and recitals. The Palmer Museum of Art has revolving and permanent exhibits. The Eisenhower Theater and the Schwab Auditorium bring in string quartets, jazz ensembles and solo artists from across the country, and the Central Pennsylvania Festival of the Arts attracts thousands of visitors in July each year. There are lots of fun restaurants, shops, cafes and bookstores to explore. For a city its size, State College has an active cultural scene, offering something for just about everyone. It also has the Nittany Mall, home to more than 68 stores and restaurants.
State College has been called one of the least stressful places to live in the U.S., and it has one of the most educated populations in the nation (30% of residents hold an undergraduate degree and 40% hold a graduate degree). It has parks and bicycle paths and an excellent bus system (CATA), providing service on 19 routes (one way rides are $1.65, but people age 65 and better ride for free). State College newcomers are welcomed, perhaps because new arrivals are a constant in this college town
The Centre Region Senior Center is the local gathering spot for people age 55+ (although peole age 55+ gather in all sorts of places) and is managed by the city's parks and recreation department. Activities and programs include computer tutoring, hiking groups, bus fall foliage tours, social groups, fitness programs, as well as inexpensive noontime meals and transportation services. RSVP (Retired Senior Volunteer Program) is active, as is the United Way, a great place to find volunteer openings. The Village at Penn State, a continuing care retirement community with ties to Penn State, is also located here.
And for retirees that want to continue learning, Penn State sponsors OLLI (the Osher Lifelong Learning Institute), a nonprofit, membership organization that offers noncredit courses, trips and social activities to adults. All events are designed for pure enjoyment and there are no requirements, exams or grades. Recent courses include winemaking, a history of the Civil War and the short stories of James Joyce. For self-directed learning, the public library, Schlow Library, has a an extensive collection of books, as well as a bookmobile, full online versions of major magazines (downloadable from home) and free wifi.
Outside of town, historic small villages are fun day trips, and state parks allow for plenty of outdoor adventure. Whipple Dam State Park (boating, fishing, swimming and wildlife viewing) is 12 miles south. Rugged Greenwood Furnace State Park (camping, hiking and picnicking) is 35 miles southeast. And within an easy day's drive, Pittsburgh, Philadelphia, Washington D.C. and New York City are perfect for big city weekend getaway (and each has an international airport). Recent highway developments now also easily connect State College to Altoona (population 46,000) and Harrisburg (population 48,000).
The primary health care facility is Mount Nittany Medical Center, a 203-bed acute-care hospital offering medical, surgical, diagnostic and community services. It meets or exceeds both state and national averages in nearly all specialty areas, and it accepts both Medicare and Medicaid patients.
Central Pennsylvania winters are overcast (some might say gloomy) and cold. The average high January temperature is 30 degrees, and teens and 20s are fairly common. Snow can be heavy, up to 9 inches per month from November through March. Summer temperatures are in the 70s and 80s, and the area receives 2 to 4 inches of rain per month, primarily during spring and summer. Humidity starts out at around 80% in the mornings and drops to 60% by afternoon. Autumns are beautiful, crisp and invigorating. The sun shines 178 days of the year. The air quality is below the national average, but the water quality is well above the national average.
A State College retirement has some drawbacks. While more and more baby boomers are attracted to college towns for retirement because of the amenities and youthful energy they provide, the trade off is having to often mingle with hoards of people one third of one's age. Such is the case in State College. This is also a rural area and somewhat isolated. Once outside of city limits, the countryside stretches for miles.
So while State College has some negatives, its pluses seem to outweigh them. This peppy college town may not be at the top of everyone's "where to retire" list, but perhaps it should be.
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