If you plan on relocating during retirement, there is one type of location that may not be on your radar, but it should be. College towns. According to a U.S. News & World Report article, there are many great reasons why moving to a college town in retirement is a smart idea. And it seems like many retirees are already in the know.

College towns boast many events and venues that are perfect for retirees. Universities have a packed schedule of sporting events, concerts, guest speakers, art exhibits, festivals, theater productions etc. Being near a college gives you an endless supply of things to keep you enlightened, connected to the community, and just plain busy.

Access to quality medical care is usually, and should be, a top priority when deciding where to live in retirement. There are some great medical centers associated with nearby universities and college towns, making healthcare a lot more accessible.

Another big perk of college towns is their walkability. A pedestrian-friendly area makes it easy for you to stay fit. Being able to walk to dinner, to the gym, or to a sporting event is a big draw for many people. It can also save you money on car or transportation expenses.

We've talked about how lifelong learning is beneficial in a variety of ways, and what better way to learn then in a classroom setting? A big perk of living close to a college town is the ability to keep your brain sharp by taking a class. Many colleges offer retirees free or low-cost classes, an even bigger bonus. It's the perfect opportunity to take a class about a subject you've always found interesting but never had the time to do it.

Or perhaps you could tutor college students in your area of expertise. It could be a great source of extra income. And if you live alone, the social interaction is an added perk. Consider being a mentor to students, too.

Home prices are normally lower near college towns versus a big metropolitan area. However, a lot of your neighbors may be younger than you and you may find yourself putting up with some rowdiness. Be sure that won't be a deal breaker for you or make sure you find an area that isn't particularly crowded.

A small warning: if you're thinking this may be an opportunity to relive your college years without homework and exams, then you may need a small reality check before moving back to your alma matter. It's important to expect that your college town may not be exactly what it used to be. It's probably changed through the years, so just adjust your expectations going in so you don't end up disappointed.