10 Popular Retirement Towns That Aren’t Worth the High Cost

Like everything else, retirement has gotten expensive in the US. 

What happens when a retirement town gets too known, too popular? Prices shoot up — that goes for everything from groceries to services to parking to the big one, housing. 

As you hunt for the perfect retirement destination for your golden years, think twice before choosing any of these ten popular retirement hotspots.

• Median Home Price: $609,044

Marty Burbank, attorney and expert in estate planning and elder law at OC Elder Law, has seen plenty of clients cycle through expensive retirement towns. 

“While Naples boasts beautiful beaches and a high-end lifestyle, the cost of living is substantially higher than other Floridian cities. Home prices have escalated sharply in recent years, often surpassing $500,000 for modest properties. 

Retirees could face financial strain, especially when factoring in the high cost of healthcare services.”

• Median Home Price: $821,372

Another retirement staple for several decades now, Scottsdale has exploded in popularity — and cost of living.

“Scottsdale is renowned for its luxurious amenities and excellent weather,” continues Burbank. “However, the cost of living here is about 14% higher than the national average. Real estate prices are significant, with median home prices north of $800,000.

“And that says nothing of other living expenses, such as healthcare, which can be steep.”

• Median Home Price: $152,821

David Ciccarelli serves as CEO of Lake, a short-term rental app for waterfront accommodations. He’s visited 39 countries and seen plenty of aspiring retirees try to find the ideal retirement spot.

“Personally, I think Niagara Falls in New York is a popular town that is both overpriced and overrated for retirees. The town’s touristy environment overshadows its appeal as a retirement destination. Retirees often seek peace, community, and amenities tailored to their needs, which Niagara Falls lacks.

“The heavy influx of tourists year-round can disrupt the tranquility many retirees desire. Crowded streets, busy attractions, and higher living costs due to the tourist economy make it less ideal. Apart from that, the town’s amenities are geared more towards visitors than permanent residents, lacking the specialized healthcare, social activities, and community support that retirees often seek.

“While the natural beauty of the falls is undeniable, I think it doesn’t compensate for the town’s shortcomings as a retirement destination. The focus on tourism means fewer resources are allocated to developing retiree-friendly infrastructure, such as senior centers, affordable healthcare, and quiet, safe neighborhoods.”

• Median Home Price: $551,906

“Austin’s vibrant culture and music scene makes it attractive for retirees,” says Burbank. “Nonetheless, the city has seen a dramatic increase in housing costs due to its popularity. 

“The median home price is now over half a million. Additionally, the increasing population brings traffic congestion and higher costs for services.”

• Median Home Price: $2,114,224

Jon Sanborn is a real estate investor and agent based in Philadelphia at Brotherly Love Properties. Looking around the country, he sees plenty of overpriced retirement hubs.

“A popular retirement town in the past, Palm Beach has been subject to rising property prices in recent years (around 19%) making it unaffordable for retirees. Today it’s associated with upscale shopping, luxury living, & wealthy estates.”

• Median Home Price: $464,097

On the opposite side of the Florida peninsula lies another overpriced retirement destination. 

“Though Sarasota is frequently lauded for its retirement communities and arts scene, its real estate market is exceedingly competitive and expensive for retirees,” notes Burbank. “The median home price has crept up to nearly $500,000, and property taxes and insurance rates can also add significant expenses.”

• Median Home Price: $583,598

Like Scottsdale, parts of the Southwest have grown increasingly popular with retirees — and increasingly overpriced.

Burbank continues: “Santa Fe offers rich cultural experiences and stunning landscapes, but these come at a high price. The cost of living is 18% higher than the national average, and real estate prices are climbing rapidly, with the median home price around $600,000.”

• Median Home Price: $1,477,444

Few places in the US are more expensive than the tech epicenters in Silicon Valley. 

“The growth of the tech industry in California has added to the already high cost of living,” points out Sanborn. “While a previous favorite among retirees, San Jose has now dropped on the list as retirees want a more affordable place to live.”

• Median Home Price: $1,060,090

Dream of a tropical paradise within the US, where everyone speaks English? You can have it — if you’re willing to pay a king’s ransom.

Sanborn says, “Maui’s picturesque landscapes, resorts, and high demand from tourists have driven up property prices. The overall cost of living makes it a lot less desirable for retirees.”

• Median Home Price: $1,140,709

For active retirees, the Big Apple offers walkability, great healthcare, endless cultural amenities, easy access to major airports, and outstanding restaurants. 

And it’s outrageously expensive. 

“Manhattan ranks among the most expensive places to retire on the East Coast,” says Sanborn. “This is primarily due to the rising cost of housing and limited new development in the city. Although famous for its healthcare, New York is just not a top choice for retirees anymore.”