This Scenic Riverside City In Ontario Is A Dream Spot For Retirees Who Love Nature And The Arts

After spending decades at work, retirement feels like the much-awaited time to settle into a place where each day unfolds with ease — surrounded by nature and immersed in a lively community spirit. While picturing the ideal places to retire, you might consider some of the idyllic Greek Islands, with the artsy communities and scenic coastlines, or you might turn to Panama, Central America's tropical paradise that boasts one of the lowest costs of living in the world. However, if you are looking closer to home, Peterborough, Canada, offers an equally compelling retreat. 

Situated along the picturesque Otonabee River, this central Ontario gem has the perfect blend of natural beauty, cultural vibrancy, and small-town warmth. Compared to big cities like Toronto, Peterborough also has a lower cost of living while still offering a similar quality of life. Another major factor to consider when choosing a retirement destination is connectivity to major cities.

Peterborough sits approximately 138 kilometers (85 miles) northeast of Toronto, allowing you to access the conveniences of Canada's largest city without bearing Toronto's high cost of living. Bus services connect the two cities multiple times daily. The nearest international airport for Peterborough residents is Toronto Pearson International Airport (YYZ), located 142 kilometers (88 miles) away. Alternatively, visitors can take a connecting flight to Peterborough Regional Airport, which is just 15 minutes from downtown.

Before deciding on your retirement home in a city, experts suggest taking a closer look at the real estate prices. Currently, an average home in Peterborough will cost around C$710,000 — still a fraction of Toronto's soaring costs, which makes the city one of Ontario's most accessible real estate markets.

According to Numbeo, the rent in Toronto is also 27.5% higher than in Peterborough. Apart from real estate, Peterborough's safety is a cornerstone factor. Residents often highlight the peace of walking its friendly streets even after sunset. Moreover, previous analyses indicate a lower rate of property crime compared to the province as a whole. According to Statistics Canada, police reported 2,186 property crimes per 100,000 population in 2018, which was 17% lower than in Ontario and 35% lower than in Canada.

For senior citizens, Peterborough has top-tier healthcare benefits as well. Peterborough Regional Health Centre, which opened in 2008, has introduced a comprehensive care program for the elderly residents. As per official data, Peterborough is "among the fastest-growing communities" in population in Canada, and 22% of the people who live in the city are over 65.

Peterborough has plenty of breathtaking natural escapes, including 22 miles of trails and 100 parks. If you are planning a day in nature, you can visit Jackson Park's winding paths for a lakeside walk. Or stop by the city's crown jewel, the Peterborough Lift Lock, the highest hydraulic lift lock in the world, and recognized as a National Historic Site of Canada. Finally, cap the day watching the sun dip below Little Lake's horizon. And if you are feeling adventurous, you can take a 40-minute drive to the Kawartha Lakes, a region of over 250 lakes and endless miles of hiking trails.

Along with its scenic parks, Peterborough nurtures its creative pulse by offering residents multiple cultural centers. The city has the Showplace Performance Centre, with its 647-seat facility, and the Market Hall Performing Arts Centre, which offers a fully accessible 350-seat theater and has hosted artists including Steven Page, Sarah Harmer, and Serena Ryder. Additionally, Peterborough Musicfest in summer hosts the country's longest-running free concert series near Little Lake on Wednesdays and Saturdays, which brings the community together, fostering connections and a sense of belonging that the older citizens would deeply value.