Best & Worst Places to Retire

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 2018 Retirement Confidence Survey, two in three workers reported feeling at least somewhat confident that they will have enough money to retire comfortably, but only 17 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 2018 plan to retire at age 66 on average, compared to age 60 in 1995. The alternative? Relocate to an area where you can stretch your dollar without sacrificing your lifestyle.

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 cost of living to retired taxpayer-friendliness to availability of recreational activities. 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.

Main Findings

 

Best Retirement Cities

Overall Rank (1 = Best)	City	Total Score	‘Affordability’ Rank	‘Activities’ Rank	‘Quality of Life’ Rank	‘Health Care’ Rank
1	Orlando, FL	60.09	7	7	130	38
2	Scottsdale, AZ	59.36	78	26	4	37
3	Tampa, FL	58.48	19	21	67	79
4	Denver, CO	58.34	114	16	35	14
5	Fort Lauderdale, FL	57.83	76	4	86	48
6	Charleston, SC	57.20	45	24	59	68
7	Miami, FL	56.50	53	9	120	58
8	Austin, TX	55.78	38	30	52	73
9	Cape Coral, FL	55.48	22	55	20	121
10	Tempe, AZ	55.28	78	45	42	52
11	Minneapolis, MN	55.17	146	14	51	5
12	Atlanta, GA	55.13	48	6	165	71
13	Cincinnati, OH	54.94	91	11	92	115
14	Salt Lake City, UT	54.88	86	23	119	47
15	Pittsburgh, PA	54.83	107	31	62	20
16	Sioux Falls, SD	54.80	39	147	95	3
17	West Valley City, UT	54.79	86	28	76	85
18	Las Vegas, NV	54.51	30	22	53	164
19	New Orleans, LA	54.44	46	13	134	139
20	Pembroke Pines, FL	54.39	66	100	21	45
21	San Diego, CA	54.21	152	3	13	70
22	Casper, WY	54.17	17	96	14	119
23	St. Petersburg, FL	54.12	19	42	64	125
24	San Francisco, CA	53.95	165	2	36	55
25	Reno, NV	53.51	36	70	11	141
26	Richmond, VA	53.47	44	32	180	18
27	Boise, ID	53.34	92	64	10	74
28	Overland Park, KS	53.32	113	130	31	8
29	St. Louis, MO	53.28	90	15	173	50
30	Los Angeles, CA	53.17	147	8	15	65
31	Port St. Lucie, FL	53.12	27	128	80	57
32	Birmingham, AL	53.10	15	40	137	128
33	Grand Prairie, TX	52.96	59	112	27	77
34	Colorado Springs, CO	52.75	65	81	9	82
35	San Antonio, TX	52.69	3	48	93	154
36	Oklahoma City, OK	52.67	18	56	108	90
37	Peoria, AZ	52.53	78	106	17	66
38	Missoula, MT	52.37	109	62	127	4
39	Madison, WI	52.35	134	49	16	31
40	Hialeah, FL	52.22	66	95	40	76
41	St. Paul, MN	52.22	145	20	85	10
42	Rapid City, SD	52.14	72	126	83	27
43	Grand Rapids, MI	52.14	95	54	109	28
44	Gilbert, AZ	52.14	78	133	7	60
45	Columbia, SC	52.12	23	93	84	78
46	Dallas, TX	51.84	63	38	97	107
47	Tucson, AZ	51.76	69	57	28	133
48	Jackson, MS	51.76	14	110	96	129
49	Tallahassee, FL	51.54	12	124	94	86
50	Raleigh, NC	51.40	74	75	65	44
51	Honolulu, HI	51.38	172	17	6	46
52	Dover, DE	51.29	43	108	156	84
53	Chandler, AZ	51.27	78	94	19	81
54	Columbus, OH	51.25	75	65	54	92
55	Cheyenne, WY	51.18	16	155	87	62
56	Portland, ME	51.15	143	25	37	39
57	Seattle, WA	51.06	167	5	57	43
58	Huntington Beach, CA	50.96	155	33	29	13
59	Philadelphia, PA	50.63	139	27	44	94
60	Henderson, NV	50.53	30	118	1	175
61	Nashville, TN	50.45	29	51	148	113
62	Laredo, TX	50.41	1	169	145	180
63	Akron, OH	50.34	70	59	139	67
64	Portland, OR	50.27	142	19	100	56
65	Plano, TX	50.17	68	135	23	51
66	Baton Rouge, LA	50.06	73	47	142	75
67	Lewiston, ME	49.99	110	141	33	33
68	Juneau, AK	49.95	122	71	125	2
69	Phoenix, AZ	49.91	78	90	22	112
70	Glendale, CA	49.88	155	73	3	26
71	Fort Worth, TX	49.76	47	83	43	144
72	Bismarck, ND	49.69	129	154	49	6
73	Amarillo, TX	49.53	21	163	73	147
74	Mesa, AZ	49.51	78	107	32	101
75	Long Beach, CA	49.27	155	36	25	41
76	Washington, DC	49.24	178	1	70	103
77	Kansas City, MO	49.22	77	76	140	32
78	Sacramento, CA	49.21	123	34	88	118
79	Billings, MT	49.12	100	149	89	19
80	El Paso, TX	49.10	4	150	58	159
81	Wilmington, DE	49.03	105	37	175	53
82	Virginia Beach, VA	48.95	55	98	99	63
83	Lincoln, NE	48.94	135	91	26	22
84	Nampa, ID	48.93	92	180	50	96
85	Milwaukee, WI	48.84	108	44	161	54
86	Chicago, IL	48.82	150	10	143	59
87	Cleveland, OH	48.81	102	35	160	105
88	Santa Clarita, CA	48.77	155	46	12	69
89	South Burlington, VT	48.77	176	29	69	1
90	North Las Vegas, NV	48.75	30	82	47	178
91	Irvine, CA	48.73	155	58	30	12
92	Houston, TX	48.72	37	68	124	143
93	Garland, TX	48.63	59	139	48	99
94	Durham, NC	48.41	52	142	121	17
95	Charlotte, NC	48.38	51	131	72	100
96	Aurora, CO	48.26	114	144	78	7
97	Jacksonville, FL	48.19	13	84	152	146
98	Lubbock, TX	48.15	6	158	117	126
99	Glendale, AZ	48.14	78	119	82	80
100	Las Cruces, NM	48.13	97	157	102	124
101	Brownsville, TX	48.05	2	181	68	166
102	Fargo, ND	48.05	118	148	79	21
103	Columbia, MD	47.95	148	89	38	9
104	Knoxville, TN	47.94	10	92	138	176
105	Augusta, GA	47.80	28	175	56	155
106	Irving, TX	47.73	59	113	91	95
107	Nashua, NH	47.63	130	101	75	97
108	Des Moines, IA	47.42	116	143	98	23
109	San Jose, CA	47.27	170	67	5	35
110	Cedar Rapids, IA	47.19	121	170	55	40
111	Fayetteville, NC	47.14	33	134	106	157
112	Omaha, NE	47.13	137	80	104	11
113	Aurora, IL	46.93	150	79	71	15
114	Boston, MA	46.71	179	18	45	89
115	Albuquerque, NM	46.69	117	69	103	104
116	Fremont, CA	46.68	165	122	2	25
117	Charleston, WV	46.66	106	88	136	134
118	Louisville, KY	46.56	103	61	105	153
119	Mobile, AL	46.45	11	156	141	165
120	Rochester, NY	46.45	133	41	151	91
121	Chattanooga, TN	46.41	54	109	115	160
122	Springfield, MO	46.36	50	121	170	93
123	Memphis, TN	46.28	8	114	149	167
124	Garden Grove, CA	46.27	155	87	34	24
125	Chesapeake, VA	46.09	55	174	74	98
126	Santa Rosa, CA	46.00	171	72	8	72
127	Santa Ana, CA	45.96	155	50	81	49
128	Corpus Christi, TX	45.94	9	97	163	173
129	Huntington, WV	45.84	34	153	122	170
130	Winston-Salem, NC	45.83	49	138	111	111
131	Greensboro, NC	45.82	40	140	135	109
132	Tulsa, OK	45.79	35	111	167	114
133	New York, NY	45.72	182	12	41	116
134	Newport News, VA	45.64	55	161	126	110
135	Huntsville, AL	45.18	26	171	114	172
136	Arlington, TX	45.06	59	159	77	142
137	Norfolk, VA	44.99	55	105	155	135
138	Pearl City, HI	44.91	172	63	39	42
139	Anaheim, CA	44.87	155	99	46	29
140	Buffalo, NY	44.67	132	77	118	108
141	Montgomery, AL	44.41	5	166	150	177
142	Gulfport, MS	44.38	64	104	158	179
143	Spokane, WA	44.20	120	132	153	61
144	Salem, OR	44.10	101	176	63	149
145	Oakland, CA	44.08	164	39	157	36
146	Columbus, GA	43.99	24	172	107	181
147	Indianapolis, IN	43.85	88	85	176	132
148	Shreveport, LA	43.74	25	173	164	158
149	Tacoma, WA	43.65	127	60	179	122
150	Ontario, CA	43.65	128	129	128	136
151	Vancouver, WA	43.58	144	117	101	30
152	Manchester, NH	43.55	130	120	112	123
153	Toledo, OH	43.47	41	137	171	140
154	Anchorage, AK	43.24	136	103	147	34
155	Little Rock, AR	43.22	71	125	181	131
156	Moreno Valley, CA	43.06	119	152	113	161
157	Lexington-Fayette, KY	43.00	111	145	110	117
158	Detroit, MI	42.94	94	86	178	148
159	Oceanside, CA	42.92	152	127	24	106
160	Yonkers, NY	42.66	180	43	61	64
161	Burlington, VT	42.56	176	52	129	16
162	Fort Wayne, IN	42.40	89	160	146	138
163	Chula Vista, CA	42.39	152	165	18	102
164	Fort Smith, AR	42.38	42	168	168	169
165	Oxnard, CA	42.07	138	164	66	145
166	Fontana, CA	41.48	126	167	123	156
167	Rancho Cucamonga, CA	41.33	140	146	90	137
168	Riverside, CA	41.03	124	162	116	127
169	San Bernardino, CA	40.86	99	115	174	162
170	Worcester, MA	40.83	141	116	162	87
171	Wichita, KS	40.75	125	136	169	130
172	New Haven, CT	40.58	163	74	154	83
173	Fresno, CA	40.54	98	177	144	151
174	Modesto, CA	39.99	104	182	132	168
175	Jersey City, NJ	39.19	175	102	60	120
176	Bakersfield, CA	38.40	96	178	131	182
177	Providence, RI	37.38	168	53	177	150
178	Stockton, CA	36.40	112	179	166	174
179	Baltimore, MD	35.84	148	66	182	163
180	Warwick, RI	35.71	168	123	159	152
181	Bridgeport, CT	34.83	181	151	133	88
182	Newark, NJ	33.86	174	78	172	171

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:

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

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 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 pensions and Social Security income.
• Tax-Friendliness on Estate or Inheritance Tax**: Full Weight (~3.33 Points)
  Note: This binary metric measures where a state has or not 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)
• 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

• Family & General Physicians per 10,000 Residents: Full Weight (~1.72 Points)
• Gerontologists per 10,000 Residents Aged 65 & Older: Full Weight (~1.72 Points)
• Dentists per 10,000 Residents: Half Weight (~0.86 Points)
• Nurses per 1,000 Residents: Full Weight (~1.72 Points)
• Physical Therapists per 10,000 Residents: Full Weight (~1.72 Points)
• Mental Health Counselors per 10,000 Residents: Full Weight (~1.72 Points)
• Suicide Rate for Elders: Full Weight (~1.72 Points)
• Health Care Facilities per Capita: Full Weight (~1.72 Points)
• Quality of Public Hospital System**: Full Weight (~1.72 Points)
  Note: This metric is based on the Centers for Medicare & Medicaid Services’ ranking of public hospital systems.
• Top-Rated Geriatrics Hospitals: Full Weight (~1.72 Points)
• Emotional Health: Full Weight (~1.72 Points)
• Share of Population Aged 65 & Older with a Disability: Full Weight (~1.72 Points)
• Home-Care Facilities per Capita: Full Weight (~1.72 Points)
• Life Expectancy: Full Weight (~1.72 Points)
• Death Rate of Population Aged 65 & Older: Full Weight (~1.72 Points)

Resources:

• Summary video with V/O
• Summary video without V/O

 

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, Retirement Living Information Center, 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, Sharecare, Public Courses, Institute for Health Metrics and Evaluation, Genworth Financial and WalletHub research.

Community Discussion

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G N @GN2018

August 15, 2018

I appreciate your report as one point of reference but your 'Health Care' rankings are surprising, to say the least:
Top 4 Hospitals based on latest US News Ranking, [and Your HC Ranking for that City]:
#1. Mayo Clinic, Rochester, MN (~95 mi from Minneapolis) [5]
#2. Cleveland Clinic, Cleveland [105]
#3. Johns Hopkins, Baltimore [163]
#4. Mass General, Boston [89]

Your criteria focus primarily on Quantities of facilities and providers, which are important, but don't appear to put much emphasis on the Quality of the Acute Care facilities. When someone has a complex medical issue requiring a hospitalization, it helps to be near a facility that has strength and depth across multiple disciplines.

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