50 Best Places to Retire in the U.S.
Thinking about moving in retirement? You're not alone. About two-thirds of retirees plan to relocate or already have, according to a survey by Merrill Lynch and Age Wave, a research firm focused on the aging population. And while most pre-retirees expect to stay in the same state or region once they retire, 40% want to take the opportunity to try someplace completely different.
Luckily, no matter which state you land on for retirement, you can pinpoint a promising place within state lines to settle down. To help you narrow the choices, here we highlight one great retirement destination in each state that offers attractive advantages for retirees. We've taken into account living costs, safety, median incomes and poverty rates for seniors, as well as residents' sense of well-being and the availability of recreational and health care facilities. Take a look at our 50 picks for top places to retire around the country and see which ones fit your dreams for retirement.
Huntsville, Ala.
City population: 190,501
Share of population 65+: 15.2% (U.S.: 14.9%)
Cost of living for retirees: 6.1% below the national average
Average income for population 65+: $51,853 (U.S.: $56,453)
Community score: 63.3 (U.S.: 61.9)
State's tax rating for retirees: Tax Friendly
As one of the 10 Cheapest States Where You'll Want to Retire, the Heart of Dixie boasts many great spots for affordable living. And Huntsville, in northern Alabama, is one of the best. It offers all the low-cost, low-tax advantages as the rest of the state, but adds more generous incomes among retirement-age residents. The average household income for 65+ households in Alabama is $46,318, according the Census Bureau.
Home to NASA's Marshall Space Flight Center, the Redstone Arsenal and the Huntsville campus of the University of Alabama, the city offers a robust economy and a highly educated population. There are plenty of cultural attractions, from a sculpture trail to a symphony orchestra, as well as opportunities for outdoor recreation (think bass fishing). In fact, Alabama at-large offers many of Florida's popular retirement attractions--warm weather, nice beaches and plenty of golf--all at a typically lower price.
Anchorage, Alaska
City population: 298,225
Share of population 65+: 9.4%
Cost of living for retirees: 26.8% above the national average
Average income for population 65+: $70,291
Community score: 62.1
State's tax rating for retirees: Most Tax Friendly
Older folks don't seem too interested in facing the Last Frontier in retirement. Only 10.1% of the entire state's population is age 65 and up compared with 14.9% of the whole U.S. But if you crave adventure--and don't mind long winters and vast swaths of wilderness--it pays to live in Alaska. Literally. A state fund fueled by oil wealth gives all permanent residents an annual dividend. In 2018, the payment was $1,600 per person.
And residents could certainly use the extra cash. Living costs throughout Alaska are significantly higher than is typical across the continental U.S. But Anchorage is the least expensive metro area in the state, according to the Council for Community and Economic Research. Plus, being the largest city in Alaska, it offers more amenities including numerous theaters, museums and shopping centers, on top of all the outdoor recreation you'd expect. It also has an abundance of health care facilities, more than 41 establishments per 1,000 seniors in the metro area compared with just about 19 per 1,000 seniors in the U.S.
Phoenix
City population: 1.6 million
Share of population 65+: 10.0%
Cost of living for retirees: 1% below the national average
Average income for population 65+: $54,681
Community score: 62.5
State's tax rating for retirees: Mixed
Undoubtedly, many of you have considered the Grand Canyon State for its retiree-friendly climate and beautiful natural scenery. Unfortunately, the financial setting is not quite as picturesque: Average living costs in Arizona are 12% above the national average, according to Sperling's BestPlaces, while median incomes for seniors with earnings are below average at $50,254. Phoenix, though, offers a pocket of affordability, plus typically higher incomes.
And being the capital city, you can find plenty of attractions to keep you busy--world-class restaurants, professional sports teams and an array of museums, theaters and other cultural attractions. Of course, outdoor enthusiasts have more than enough to enjoy, too, with many hiking and biking trails within the city limits and even more to explore in nearby Scottsdale, Glendale and Tempe.
Fayetteville, Ark.
City population: 81,889
Share of population 65+: 9.1%
Cost of living for retirees: 13.8% below the national average
Average income for population 65+: $85,436
Community score: 66.3
State's tax rating for retirees: Not Tax Friendly
The metro area of Fayetteville, which includes Springdale, Rogers and Bentonville, offers low costs but plenty of attractions. The surrounding Ozark Mountains afford residents outdoor recreation and natural wonders to enjoy while the downtown area, home to the University of Arkansas, provides restaurants, shops and a lively music and arts scene, including the Walton Arts Center.
Locals seem happy with what they have at their fingertips. Fayetteville ranks 11th for community well-being on the Gallup-Sharecare Well-Being Index with residents reporting high levels of liking where they live, feeling safe and having pride in their community.
Carlsbad, Calif.
City population: 113,147
Share of population 65+: 16.0%
Cost of living for retirees: 40.6% above the national average
Average income for population 65+: $70,348
Community score: 64.3
State's tax rating for retirees: Mixed
Part of the San Diego metro area, Carlsbad offers a small-city feel with easy access to big-city amenities. It has a vibrant cultural community, ocean-side living and sunny climate. You can also find 40 parks, more than 50 miles of hiking trails and a full calendar of artsy offerings, including Foreign Film Fridays in the spring and free concerts in the summer. (Not that there are really seasons in Carlsbad: Throughout the year, average highs fall between 62 and 71 degrees Fahrenheit, and average lows only go down to between 45 and
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