Lexington is the most affordable city for an early retirement, ranking shows. | Lexington Herald Leader

A study by SmartAsset.com revealed Lexington is the most affordable city in the United States for early retirement.

Citing the city’s low cost of living, health care costs and housing costs, Lexington beat out Plano, Texas; Boise, Idaho and Madison, Wis., in the rankings. Another Kentucky city, Louisville, ranked fifth.

SmartAsset also notes Lexington’s “fairly low rate of violent crime” and the city’s low unemployment rate for those who need to supplement their income in retirement.

The study also used each city’s income tax rate, property tax rate, sales tax, and amount of medical facilities to rank each city. SmartAsset bills itself as a financial technology company that offers data-based personal finance tools to consumers.

Thanks to Lexington and Louisville’s top-five rankings, Kentucky secured the No. 2 spot for best states for early retirement, behind only Wyoming.

The website said “you can probably retire early in Kentucky without having an enormous sum in your 401(k).”

“The best part of retiring in Kentucky may be the money you save on housing,” SmartAsset wrote. “According to our data, average housing costs here are the fourth-lowest in the country at about $87,000.”

SmartAsset recommends early investing and tackling debt for those who want to retire early. It also says a work-retirement “can help you earn a little money on the side while staving off potential boredom.”