If you’re the type who enjoy going to the beach, going for a hike, or a delicious mug of craft beer to cap the day off, then the Beaver State’s where you should be settling in. Nevertheless, there are two downsides to retiring in Oregon – the high cost of living and high tax rate.
For retirees who would be living on fixed income, starting a life in Oregon may be difficult. For one thing, the Council for Community and Economic Research’s 2014 report indicated that Portland apartments are charging more than double of the national average rental fee at $2,196 per month. Moreover, gasoline is 11.7% more than the national average. Even the consultation fee for doctors is 27.7% higher than average. In addition, while Oregon doesn’t impose sales taxes, residents who earn more than $125,000 annually ($250,000 for married couples who file jointly), as well as retirement income, are burdened with 9.9% income tax.