Two in five U.S. seniors say they’ll “never” move out of their house, according to a survey conducted by OnePoll on behalf of ClearMatchMedicare, per Talker.
However, Americans who are open to relocating in retirement have several factors to consider — and one of the most important is cost of living.
Although many dream of a luxurious, carefree retirement, the majority of Americans face a different reality. The typical worker believes they’ll need $1.46 million to retire comfortably, but the average retirement account balance sits at just $88,400, per a Northwestern Mutual study.
Related: Are You Actually on Track to Retire Well? A Financial Expert Reveals the Critical Milestones to Hit at Every Age — Plus 3 Common Oversights.
About half of U.S. adults (52%) lived in middle-income households in 2022, according to a Pew Research Center Analysis of the most recent available government data. Those approaching retirement age might wonder where their savings will stretch the furthest.
A new study from GOBankingRates set out to determine the top 30 best towns for middle-class retirement.
The research drew from U.S. Census and Federal Reserve data and analyzed cities across the country with a minimum population of 10,000 residents and at least 25% of that population aged 65 and over. Then, GOBankingRates factored in data including household median income, average home value, total annual cost of living and the average social security benefits.
Related: These Are the 5 Most Desirable Retirement Locations — But Most Retirees Can’t Afford Them, New Data Reveals
Perhaps not surprisingly, the No. 1 spot went to a city in Florida: The Villages, which boasts a household median income of $73,415 and an annual cost of living of $48,808.
Two cities in Arizona followed — Green Valley City, with a household median income of $57,785 and an annual cost of living of $41,989 and Sun City West, with a household median income of $61,941 and an annual cost of living of $48,781.
Related: Younger Americans Don’t Necessarily Want to Retire in Florida — and the 2 Affordable States at the Top of Their List Might Surprise You
See the full list of the best 30 places for a middle-class retirement, according to GoBankingRates’ data, below:
1. The Villages, Florida
- Household median income: $73,415
- Single-family home average value: $408,342
- Annual cost of living: $48,808
- Average Social Security Benefits: $30,704
2. Green Valley City, Arizona
- Household median income: $57,785
- Single-family home average value: $321,915
- Annual cost of living: $41,989
- Average Social Security Benefits: $27,102
3. Sun City West, Arizona
- Household median income: $61,941
- Single-family home average value: $398,930
- Annual cost of living: $48,781
- Average Social Security Benefits: $28,190
4. Hot Springs Village, Arkansas
- Household median income: $68,580
- Single-family home average value: $305,455
- Annual cost of living: $41,487
- Average Social Security Benefits: $28,754
5. Venice, Florida
- Household median income: $68,843
- Single-family home average value: $466,895
- Annual cost of living: $53,436
- Average Social Security Benefits: $27,226
6. Sun City, Arizona
- Household median income: $51,263
- Single-family home average value: $329,036
- Annual cost of living: $44,204
- Average Social Security Benefits: $25,346
7. Sun City Center, Florida
- Household median income: $64,661
- Single-family home average value: $341,594
- Annual cost of living: $45,845
- Average Social Security Benefits: $26,759
8. Punta Gorda, Florida
- Household median income: $75,898
- Single-family home average value: $419,564
- Annual cost of living: $49,123
- Average Social Security Benefits: $28,854
9. Mesquite, Nevada
- Household median income: $69,146
- Single-family home average value: $406,306
- Annual cost of living: $48,562
- Average Social Security Benefits: $26,855
10. Englewood, Florida
- Household median income: $61,734
- Single-family home average value: $382,567
- Annual cost of living: $47,686
- Average Social Security Benefits: $25,610
11. Murrells Inlet, South Carolina
- Household median income: $71,019
- Single-family home average value: $438,475
- Annual cost of living: $49,996
- Average Social Security Benefits: $26,060
12. Pinehurst, North Carolina
- Household median income: $102,917
- Single-family home average value: $542,557
- Annual cost of living: $57,335
- Average Social Security Benefits: $28,853
13. Oro Valley, Arizona
- Household median income: $101,394
- Single-family home average value: $525,380
- Annual cost of living: $56,423
- Average Social Security Benefits: $29,587
14. Wildwood, Florida
- Household median income: $68,121
- Single-family home average value: $319,201
- Annual cost of living: $42,621
- Average Social Security Benefits: $28,259
15. Sebastian, Florida
- Household median income: $65,650
- Single-family home average value: $362,710
- Annual cost of living: $46,421
- Average Social Security Benefits: $23,019
16. Naples, Florida
- Household median income: $135,657
- Single-family home average value: $713,541
- Annual cost of living: $69,932
- Average Social Security Benefits: $30,538
17. Middleburg Heights, Ohio
- Household median income: $74,109
- Single-family home average value: $279,112
- Annual cost of living: $38,585
- Average Social Security Benefits: $23,154
18. Seven Hills, Ohio
- Household median income: $91,975
- Single-family home average value: $282,436
- Annual cost of living: $39,049
- Average Social Security Benefits: $24,539
19. Lady Lake, Florida
- Household median income: $46,694
- Single-family home average value: $328,600
- Annual cost of living: $44,328
- Average Social Security Benefits: $25,143
20. Centerville, Ohio
- Household median income: $79,509
- Single-family home average value: $329,817
- Annual cost of living: $42,813
- Average Social Security Benefits: $25,906
21. North Myrtle Beach, South Carolina
- Household median income: $69,792
- Single-family home average value: $506,656
- Annual cost of living: $54,861
- Average Social Security Benefits: $27,638
22. Gold Canyon, Arizona
- Household median income: $83,654
- Single-family home average value: $493,623
- Annual cost of living: $55,036
- Average Social Security Benefits: $32,475
23. Tavares, Florida
- Household median income: $54,271
- Single-family home average value: $328,077
- Annual cost of living: $44,351
- Average Social Security Benefits: $23,898
24. Kerrville, Texas
- Household median income: $58,797
- Single-family home average value: $354,444
- Annual cost of living: $44,075
- Average Social Security Benefits: $21,751
25. Pahrump, Nevada
- Household median income: $54,988
- Single-family home average value: $350,128
- Annual cost of living: $44,349
- Average Social Security Benefits: $23,592
26. Mountain Home, Arkansas
- Household median income: $42,281
- Single-family home average value: $224,906
- Annual cost of living: $34,449
- Average Social Security Benefits: $23,209
27. Greenville, Ohio
- Household median income: $45,746
- Single-family home average value: $159,902
- Annual cost of living: $159,902
- Average Social Security Benefits: $19,574
28. Lyndhurst, Ohio
- Household median income: $84,697
- Single-family home average value: $225,429
- Annual cost of living: $35,093
- Average Social Security Benefits: $22,809
29. Hermitage, Pennsylvania
- Household median income: $66,922
- Single-family home average value: $210,762
- Annual cost of living: $34,178
- Average Social Security Benefits: $24,091
30. Ormond Beach, Florida
- Household median income: $65,238
- Single-family home average value: $399,777
- Annual cost of living: $48,401
- Average Social Security Benefits: $22,946
