01 - Taxes
Retirement Tax Treatment
Massachusetts levies a state income tax, but Social Security benefits are fully exempt, a meaningful advantage for retirees drawing from that source.
Source · Tax Foundation
8
Fact text
- Beverly claims the title 'Birthplace of America's Navy', and its police department patch literally has the ship USS Hannah on it.
- Parker Brothers, the makers of Monopoly, was headquartered right here in Beverly.
- Beverly Hills, California was named after Beverly Farms, MA in 1907, all because President Taft liked to vacation there.
- Beverly hosted a magic show for 37 consecutive years that made seven White House appearances and landed in the Guinness Book of Records.
- Beverly calls itself the birthplace of the American Industrial Revolution, home to the very first cotton mill in America back in 1787.
Your
Beverly
Retirement Outlook — in 90 seconds
Hosted by Michael McMillan, President of Annuities.net
Every figure mentioned is drawn from the same sourced public data shown below — and the video updates as the data does.
42,062
+
Total Population
$
84,354
Median Income
$
463,000
Median Home
18
%
Age 65+
Retirement Suitability
How
Beverly
ranks for retirees?
18
/ 100
A blended, sourced view of how this city ranks for retirees across tax, affordability, healthcare, and climate.
Tax
8
Affordability
19
Healthcare
29
Climate
11
Results
Beverly
Suitability Breakdown
02 - Income
Annuity Rates Available Here
Fixed annuity rates reach up to
7
% on 5-year terms, with most landing between
5
% and
5
%.
Source · Cannex
19
03 - Healthcare
Hospital Access & Quality
The area has
5
Medicare-certified hospitals, averaging a
3
/5 CMS quality rating.
Source · CMS Hospital Compare
3
04 - Climate
Weather & Comfort
A
Cold / Snowy
climate — summers peak near
77
°F, winters dip to about
19
°F, with roughly
″ of snow a year.
Source · NOAA Climate Normals
Cold / Snowy
05 - Risk
Natural Disaster Risk
FEMA's overall natural-disaster risk rating for this county on the National Risk Index.
Source · FEMA National Risk Index
Relatively High
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Frequently Asked Questions
Does Massachusetts tax Social Security income for retirees in Beverly?
Massachusetts does not tax Social Security benefits, which can be a meaningful advantage for Beverly retirees who rely on that income. State income tax still applies to other sources, so understanding how your full income picture is taxed matters when planning retirement cash flow in Massachusetts.
What hospitals are available to Medicare patients near Beverly, MA?
Five Medicare-certified hospitals serve the Beverly area. Their average CMS quality rating is 3.0 out of 5 stars, which indicates some variation in care quality across facilities. Retirees evaluating healthcare access may want to research individual hospital ratings rather than relying solely on the area average.
How expensive is housing in Beverly, MA for someone approaching retirement?
The median home value in Beverly is $463,000, and the median household income is $84,354. These figures suggest a relatively high housing cost relative to income, which is worth considering when projecting how much retirement savings or guaranteed income you may need to cover ongoing living expenses in the area.
What natural disaster risks should Beverly, MA retirees be aware of?
How can Beverly, MA retirees get predictable income to cover fixed costs?
Beverly’s nearly 18% senior population reflects how seriously this community takes retirement readiness. Massachusetts exempts Social Security from state income tax, which helps, but many retirees still need predictable income to cover fixed costs. A multi-year guaranteed annuity locks in a set interest rate for a chosen term, so you know exactly what your money earns each year. Because rates shift frequently, check our current annuity rates page for today’s figures.