A recent study from Go Banking Rates has named Milford the third-best town in the country for people in the upper-middle class to retire in.

According to the Pew Research Center, upper-middle class is defined as households making between $120,896 and $155,438 a year.

"I hadn't really thought about it as one of the top places to retire, but when you think about all the things that contribute to it, it kinda makes sense," admitted Michael Moses, the president and CEO of the Milford Regional Chamber of Commerce.

To make the list, Go Banking Rates started with towns where the percentage over the age of 65 is older than the national average.

Then, they looked at how much it costs to live comfortably in each place, calculating around $5,300 a month in Milford - which was not necessarily the best.

"It's reasonable, compared to everywhere else, it's no different," said Scott Ruggles, a retiree who lives in Milford.

But where Milford really excelled was on the "livability score," which comes from a formula on AreaVibes.com.

"You hear all about moving down to South Carolina and Florida, and all the taxes and all that," said Simon McDonald, the Director or Marketing and Membership for the Milford Regional Chamber of Commerce. "I think about the quality of things."

"This is a great community, we know that, and you know when folks from outside the community say you know what, you're right, it is a good feeling," added Moses.

Milford earned especially high marks for having low crime, easy access to public transportation, lot of parks - including Silver Sands State Park - and a strong sense of community.

"The community is great, I met beautiful people," said Dory Schrem, who moved to Milford a year ago.

With plenty of restaurants and stores, along with events like the annual Oyster Festival also playing a factor, McDonald added "there's always something to do, and I think there's something for everybody, and I think that's one of the reasons that people would want to retire here."

Only one other town in Connecticut made the list - Shelton- which came in at 43rd.