Best & Worst Places to Retire

Adam McCann , Financial WriterSep 8, 2020

Adam McCann , Financial Writer
Sep 8, 2020

After putting in decades of hard work, we naturally expect to have financial security in our golden years. But not all Americans can look forward to a relaxing retirement. According to the Employee Benefit Research Institute’s 2020 Retirement Confidence Survey, 6 in 10 workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 24 percent said they were “very confident.”

If so many American workers are worried about their financial future, what other options provide a pathway to a comfortable retirement? For some, the only solution is to keep working. According to Gallup polling, workers in 2019 planned to retire at age 65 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.

Retirement isn’t all about the money, though. Retirees want to live in a place where they enjoy safety and access to good healthcare, especially with the COVID-19 pandemic taking its toll on the U.S. The ideal city will also have lots of ways to spend leisure time, along with good weather.

To help Americans plan an affordable retirement while maintaining the best quality of life, WalletHub compared the retiree-friendliness of more than 180 U.S. cities across 46 key metrics. Our data set ranges from the cost of living to retired taxpayer-friendliness to the state’s health infrastructure. Read on for our findings, expert retirement advice and a full description of our methodology.

If you’re considering retiring out of state, make sure to check out WalletHub’s “Best & Worst States to Retire” ranking, too.

1Main Findings 2Ask the Experts

3Methodology

Main Findings

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Best Retirement Cities

Overall Rank (1 = Best)	City	Total Score	‘Affordability’ Rank	‘Activities’ Rank	‘Quality of Life’ Rank	‘Health Care’ Rank
1	Orlando, FL	61.02	6	13	70	49
2	Tampa, FL	60.17	18	14	47	64
3	Charleston, SC	58.99	29	18	59	56
4	Miami, FL	58.54	48	6	106	41
5	Fort Lauderdale, FL	58.31	53	15	72	29
6	Scottsdale, AZ	57.57	66	34	2	45
7	Casper, WY	57.13	20	69	6	79
8	Minneapolis, MN	56.89	153	3	42	9
9	Jackson, MS	56.65	5	100	90	31
10	Denver, CO	56.53	87	10	46	81
11	Cincinnati, OH	56.51	95	4	94	90
12	Cape Coral, FL	56.25	28	68	12	88
13	St. Petersburg, FL	56.03	18	46	31	83
14	Salt Lake City, UT	55.64	83	17	99	44
15	Pembroke Pines, FL	55.41	50	145	14	37
16	Cheyenne, WY	55.26	14	142	28	34
17	Bismarck, ND	55.14	35	155	62	7
18	Columbia, SC	55.07	11	67	86	80
19	Tempe, AZ	54.78	66	56	30	68
20	San Francisco, CA	54.61	156	2	36	51
21	Dover, DE	54.40	17	88	176	28
22	Atlanta, GA	54.34	45	8	168	100
23	New Orleans, LA	54.25	64	7	151	105
24	Las Vegas, NV	54.17	32	16	109	168
25	Port St. Lucie, FL	54.03	27	84	66	127
26	Fargo, ND	54.00	47	150	82	6
27	Boise, ID	53.50	90	59	15	35
28	Birmingham, AL	53.34	2	41	171	119
29	Colorado Springs, CO	52.81	57	71	19	75
30	West Valley City, UT	52.70	83	61	78	102
31	Sioux Falls, SD	52.66	92	140	51	2
32	San Diego, CA	52.51	138	12	16	98
33	St. Louis, MO	52.38	61	22	181	30
34	Hialeah, FL	52.26	48	111	26	66
35	Richmond, VA	52.24	59	31	166	27
36	Wilmington, DE	52.18	55	27	182	20
37	Missoula, MT	52.11	104	39	138	10
38	Tallahassee, FL	52.08	16	113	75	104
38	Charleston, WV	52.08	21	91	105	110
40	Rapid City, SD	52.04	109	82	108	8
41	Pittsburgh, PA	51.97	137	25	56	16
42	Raleigh, NC	51.88	56	70	55	61
43	Tucson, AZ	51.85	40	50	71	153
44	Madison, WI	51.76	151	49	3	17
45	Grand Rapids, MI	51.54	103	48	48	76
46	Los Angeles, CA	51.29	142	23	18	78
47	Gilbert, AZ	51.14	66	114	27	71
48	Las Cruces, NM	51.14	42	159	97	128
49	Virginia Beach, VA	51.05	36	85	81	65
50	Reno, NV	50.89	65	75	24	149
51	Honolulu, HI	50.82	173	5	9	86
52	Huntington, WV	50.65	10	165	134	142
53	Overland Park, KS	50.64	127	115	38	11
54	San Antonio, TX	50.62	60	40	101	157
55	Austin, TX	50.49	128	28	54	87
56	Sacramento, CA	50.45	105	45	29	112
57	Jacksonville, FL	50.41	12	78	147	123
58	Washington, DC	50.36	167	1	100	113
59	Nashville, TN	50.27	24	44	178	97
60	Long Beach, CA	50.09	142	29	22	48
61	Knoxville, TN	50.02	4	92	164	167
62	Billings, MT	49.81	94	137	118	5
63	Oklahoma City, OK	49.69	44	63	140	108
64	Portland, ME	49.66	162	21	40	42
65	Henderson, NV	49.65	32	121	4	178
66	Chandler, AZ	49.52	66	99	52	96
67	Glendale, CA	49.51	145	64	5	59
68	Seattle, WA	49.49	178	9	39	38
69	Huntington Beach, CA	49.46	147	32	37	46
70	Peoria, AZ	49.44	66	107	60	126
71	Gulfport, MS	49.43	26	103	156	159
72	South Burlington, VT	49.42	168	38	91	1
73	Durham, NC	49.37	80	147	63	12
74	Akron, OH	49.35	101	55	89	91
75	Augusta, GA	49.32	13	172	85	160
76	Nampa, ID	49.21	90	170	67	40
77	Nashua, NH	49.14	123	105	93	19
78	Huntsville, AL	49.08	9	169	139	139
79	Juneau, AK	49.05	121	74	113	3
80	Chattanooga, TN	48.94	23	102	161	121
81	Fort Smith, AR	48.86	8	146	157	114
82	Montgomery, AL	48.80	1	143	167	175
83	Lincoln, NE	48.77	134	83	34	15
84	Columbus, OH	48.65	98	77	50	125
85	Philadelphia, PA	48.49	155	26	41	82
86	Irvine, CA	48.39	147	52	32	36
87	Baton Rouge, LA	48.28	76	42	152	136
88	Mobile, AL	48.23	7	152	155	164
88	Cedar Rapids, IA	48.23	126	156	13	43
90	Anaheim, CA	48.12	147	81	10	26
91	Cleveland, OH	48.02	102	33	150	101
92	Fayetteville, NC	47.97	30	120	120	169
93	Garden Grove, CA	47.96	152	51	43	50
94	Chesapeake, VA	47.93	36	163	64	103
95	Charlotte, NC	47.67	63	124	74	134
96	Memphis, TN	47.67	3	95	179	172
97	Phoenix, AZ	47.66	66	101	69	130
98	Fort Worth, TX	47.66	100	80	45	132
99	Boston, MA	47.58	179	20	35	23
100	Plano, TX	47.53	117	108	21	72
101	Springfield, MO	47.50	52	123	174	39
102	Albuquerque, NM	47.44	93	53	130	144
103	St. Paul, MN	47.33	154	36	102	33
104	Dallas, TX	47.26	125	37	112	122
105	Mesa, AZ	47.25	66	133	77	116
106	Portland, OR	47.23	166	11	129	70
107	North Las Vegas, NV	47.22	32	104	95	181
108	Norfolk, VA	47.07	36	90	142	155
109	Burlington, VT	46.88	168	43	104	4
110	Omaha, NE	46.72	129	86	124	13
111	Columbia, MD	46.68	160	94	17	21
112	El Paso, TX	46.68	46	132	57	177
113	Winston-Salem, NC	46.62	41	141	126	89
114	Glendale, AZ	46.59	66	109	119	95
115	Kansas City, MO	46.34	85	79	165	63
116	Brownsville, TX	46.34	15	181	76	180
117	Amarillo, TX	46.21	54	154	92	174
118	Houston, TX	46.21	89	73	145	138
119	Fremont, CA	46.19	156	118	1	57
120	Aurora, CO	46.12	87	144	103	52
121	Louisville, KY	46.10	111	66	87	151
122	Oakland, CA	46.07	156	30	111	60
123	Newport News, VA	45.96	36	162	131	147
124	Lewiston, ME	45.91	122	131	49	85
125	Fort Wayne, IN	45.89	58	149	98	115
126	Grand Prairie, TX	45.82	113	161	25	141
127	Rochester, NY	45.73	141	35	123	99
128	Lexington-Fayette, KY	45.70	96	148	79	55
129	Santa Clarita, CA	45.68	145	134	11	106
130	Milwaukee, WI	45.68	131	47	160	67
131	Little Rock, AR	45.58	82	122	170	74
132	Tulsa, OK	45.54	43	127	159	94
133	Laredo, TX	45.54	25	168	148	182
134	Shreveport, LA	45.44	31	166	154	118
135	Columbus, GA	45.41	22	164	135	179
136	Chicago, IL	45.34	170	19	146	62
137	Des Moines, IA	45.26	120	130	115	24
138	Ontario, CA	45.20	112	139	125	137
139	Greensboro, NC	45.09	51	138	133	143
140	Santa Rosa, CA	45.04	163	135	8	54
141	Santa Ana, CA	44.94	147	65	73	77
142	San Jose, CA	44.93	159	112	7	47
143	Tacoma, WA	44.85	133	76	117	109
144	Moreno Valley, CA	44.39	99	180	128	166
145	Indianapolis, IN	44.28	86	96	177	69
146	Buffalo, NY	44.27	132	62	114	133
147	Oxnard, CA	44.06	130	151	58	129
148	Anchorage, AK	43.97	136	89	149	18
149	Oceanside, CA	43.96	138	110	23	146
150	Manchester, NH	43.91	123	125	136	58
151	Spokane, WA	43.87	118	117	143	84
152	Lubbock, TX	43.80	75	153	116	156
153	Riverside, CA	43.73	106	160	68	111
154	Irving, TX	43.63	113	129	96	117
155	Corpus Christi, TX	43.29	62	93	169	170
156	Aurora, IL	43.28	170	97	61	25
157	Modesto, CA	43.15	77	182	132	163
158	Fresno, CA	43.15	74	167	137	152
159	New Haven, CT	43.09	176	58	144	14
160	Salem, OR	43.04	110	176	84	120
161	Garland, TX	42.90	113	158	53	150
162	Toledo, OH	42.81	78	119	162	154
163	Arlington, TX	42.63	113	157	83	124
164	Chula Vista, CA	42.31	138	177	20	131
165	Fontana, CA	42.28	107	174	127	165
166	New York, NY	42.22	182	24	33	93
167	Providence, RI	41.18	164	54	107	148
168	Worcester, MA	40.99	144	128	153	73
169	Bakersfield, CA	40.99	79	173	141	176
170	Rancho Cucamonga, CA	40.65	135	171	88	161
171	Vancouver, WA	40.58	175	106	110	32
172	Yonkers, NY	40.56	181	72	65	22
173	Wichita, KS	40.47	119	126	172	107
174	Detroit, MI	40.38	108	98	180	162
175	Jersey City, NJ	40.02	177	87	80	92
176	Pearl City, HI	39.50	173	178	44	145
177	Baltimore, MD	39.37	160	57	158	158
178	San Bernardino, CA	38.89	81	175	175	173
179	Warwick, RI	37.83	164	136	122	135
180	Bridgeport, CT	37.48	180	116	121	53
181	Stockton, CA	37.41	97	179	163	171
182	Newark, NJ	37.16	172	60	173	140

Ask the Experts

People plan for retirement at various stages of their lives. But regardless of age, planning ahead can certainly help. To expand the discussion, we asked a panel of experts to share their advice on various factors that prospective retirees should consider as well as retirement-friendly measures for city leaders. Click on the experts’ profiles to read their bios and responses to the following key questions:

What financial factors should retirees take into consideration when deciding where to retire?
What are some tips for living on a fixed income in retirement?
What is the biggest mistake that people make when planning their retirements?
What percentage of income should you aim to replace in retirement?
In planning for retirement, what life expectancy should the average person use to make sure they have saved enough?
How has the pandemic affected Americans’ retirement plans?
Should attracting more retirees be a priority for local government? If so, what should they do?

Ask the Experts

: Joseph F. Coughlin
Ph.D. – Director of the Massachusetts Institute of Technology AgeLab, Senior Lecturer, Department of Engineering Systems, Massachusetts Institute of Technology
Read More

: Jeanette C. Takamura
M.S.W., Ph.D. – Dean Emerita and Professor, School of Social Work, Columbia University
Read More

: Kenneth S. Shultz
Ph.D. – Professor of Organizational Psychology in the Department of Psychology and Executive Board Member, The Center on Aging, California State University, San Bernardino
Read More

: Kathy Black
Ph.D. – Professor of Aging Studies and Social Work, University of South Florida, Sarasota-Manatee
Read More

: Cal J. Halvorsen
Ph.D., M.S.W. – Assistant Professor, School of Social Work, Boston College
Read More

: Faith Pratt Hopp
Ph.D., M.S.W. – Associate Professor, School of Social Work, Wayne State University
Read More

More Experts

Methodology

To help Americans find the best cities to spend their golden years, WalletHub compared the retirement-friendliness of 182 cities — including the 150 most populated U.S. cities, plus at least two of the most populated cities in each state — across four key dimensions: 1) Affordability, 2) Activities, 3) Quality of Life and 4) Health Care.

We evaluated those dimensions using 46 relevant metrics, which are listed below with their corresponding weights. Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement. For metrics marked with an asterisk (*), the square root of the population was used to calculate the population size in order to avoid overcompensating for minor differences across cities. Data for metrics marked with two asterisks (**) were available at the state level only.

Finally, we determined each city’s weighted average across all metrics to calculate its overall score and used the resulting scores to rank-order our sample. Our sample considers only the city proper in each case and excludes cities in the surrounding metro area.

With cost being a significant factor in retirement, our analysis assumes retirees will rely on a fixed income. The lower their expenses, the better retirees will fare in a particular city.

Affordability – Total Points: 25

Adjusted Cost of Living: Triple Weight (~10.00 Points)
Taxpayer-Friendliness: Full** Weight (~3.33 Points)
Note: This metric is based on WalletHub’s “Tax Rates by State” ranking.
Retired Taxpayer-Friendliness: Full** Weight (~3.33 Points)
Note: This metric measures taxation on retirement income, property and purchases, as well as special tax breaks for seniors.
Tax-Friendliness on Estate or Inheritance Tax: Full** Weight (~3.33 Points)
Note: This binary metric measures where a state has or does not have inheritance tax.
Annual Cost of In-Home Services: Half Weight (~1.67 Points)
Annual Cost of Adult Day Health Care: Full Weight (~3.33 Points)

Activities – Total Points: 25

Recreation & Senior Centers per Capita*: Full Weight (~2.38 Points)
Fishing Facilities per Capita*: Full Weight (~2.38 Points)
Public Golf Courses per Capita*: Full Weight (~2.38 Points)
Note: This metric refers to public and municipal golf courses within 10 miles of city center.
Museums per Capita*: Full Weight (~2.38 Points)
Theaters per Capita*: Full Weight (~2.38 Points)
Art Galleries per Capita*: Full Weight (~2.38 Points)
Book Clubs per Capita*: Half Weight (~1.19 Points)
Music Venues per Capita*: Full Weight (~2.38 Points)
Bingo Halls per Capita*: Full Weight (~2.38 Points)
Availability of Adult Volunteer Activities: Full Weight (~2.38 Points)
Recreation-Friendliness: Full Weight (~2.38 Points)
Note: This metric is based on WalletHub’s “Best & Worst Cities for Recreation” ranking.

Quality of Life – Total Points: 25

Share of Population Aged 65 & Older: Full Weight (~1.67 Points)
Elderly-Friendly Labor Market: Full Weight (~1.67 Points)
Age-Friendly Community: Full Weight (~1.67 Points)
Note: This metric is based on the “AARP Network of Age-Friendly Communities” list.
Share of Population Aged 65 & Older Living in Poverty: Full Weight (~1.67 Points)
Share of Population Aged 65 & Older Living Alone: Full Weight (~1.67 Points)
Walk Score: Full Weight (~1.67 Points)
Share of Population Aged 65 to 79 with Poor Transit Access: Full Weight (~1.67 Points)
Mild Weather: Double Weight (~3.33 Points)
Note: This metric is based on WalletHub’s “Cities with the Best & Worst Weather” ranking.
Caring Community: Full Weight (~1.67 Points)
Note: This metric is based on WalletHub’s “Most Caring Cities in America” ranking.
Strength of Elder-Abuse Protections: Full** Weight (~1.67 Points)
Note: This metric is based on WalletHub’s “States with the Best Elder-Abuse Protections” ranking.
Violent-Crime Rate: Full Weight (~1.67 Points)
Property Crime Rate: Full Weight (~1.67 Points)
Air Quality: Full Weight (~1.67 Points)
Water Quality: Full Weight (~1.67 Points)

Health Care – Total Points: 25

WalletHub “States with the Best Health Infrastructure for Coronavirus” Score: Triple** Weight (~4.55 Points)
Note: This metric is based on WalletHub’s “States with the Best Health Infrastructure for Coronavirus” ranking.
Family Medicine Physicians per 10,000 Residents: Full Weight (~1.52 Points)
Gerontologists per 10,000 Residents Aged 65 & Older: Full Weight (~1.52 Points)
Dentists per 10,000 Residents: Half Weight (~0.76 Points)
Nurses per 1,000 Residents: Full Weight (~1.52 Points)
Physical Therapists per 10,000 Residents: Full Weight (~1.52 Points)
Mental Health Counselors per 10,000 Residents: Full Weight (~1.52 Points)
Suicide Rate for Elders: Full Weight (~1.52 Points)
Health Care Facilities per Capita: Full** Weight (~1.52 Points)
Quality of Public Hospital System: Full** Weight (~1.52 Points)
Note: This metric is based on the Centers for Medicare & Medicaid Services’ ranking of public hospital systems.
Top-Rated Geriatrics Hospitals: Full Weight (~1.52 Points)
Share of Population Aged 65 & Older with a Disability: Full Weight (~1.52 Points)
Home-Care Facilities per Capita: Full Weight (~1.52 Points)
Life Expectancy: Full Weight (~1.52 Points)
Death Rate of Population Aged 65 & Older: Full Weight (~1.52 Points)

Sources: Data used to create this ranking were collected from the U.S. Census Bureau, Federal Bureau of Investigation, Council for Community and Economic Research, Bureau of Labor Statistics, United States Environmental Protection Agency, County Health Rankings, Centers for Disease Control and Prevention, The Kiplinger Washington Editors, Trust For Public Land, Centers for Medicare & Medicaid Services, Charity Navigator, Transportation For America, U.S. News & World Report, Tax Foundation, Yelp, Meetup, Walk Score, AARP, GolfLink, Genworth Financial and WalletHub research.

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