As people retire, their goals shift, often causing them to reconsider where they're living and how they spend their money. Places with a high cost of living, high taxes and cold winters, for example, could influence retirees to move to warmer locations where they can stretch their retirement savings further and enjoy their free time. Thus, many people opt to downsize or even relocate entirely to better facilitate their ideal retirement.
With this in mind, SmartAsset set out to determine which cities and states have proven themselves to be most attractive to retirees. All 50 states and 182 U.S. cities were evaluated based on the number of people aged 60 and over moving in and out.
Cities are ranked by the highest positive net movement of migrations of people aged 60 and up.
Cities are ranked by the net emigration of retirees out of a state.
States are ranked by the highest positive net movement of migrations of people aged 60 and up.
States are ranked by the net emigration of retirees out of a state.
To find both the states and cities where retirees are moving, SmartAsset analyzed data from the Census Bureau's 2022 1-year American Community Survey.
This study considers the populations aged 60 and older (for these purposes, retirees) in 182 of the largest cities in the U.S. for which data was available. We similarly found net migration for each city by subtracting the number of retirees who moved out of the city to a different state in 2022 from the number of people aged 60 and older who moved into the city from a different state. Cities with the most inbound retirees ranked highest.
Limitations
Some limitations of the data available for this study include:
This story was produced by SmartAsset and reviewed and distributed by Stacker Media.