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America’s 50 Most Expensive Retirement Towns

March 9, 2025

10 min Read

Written by Heather Taylor

Edited by Chris Cluff

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If you’re planning to retire in popular Florida cities like Boca Raton, The Villages or Sarasota, you might need a backup plan for more affordable retirement alternatives in the Sunshine State.

Before we dig into Florida, how was GOBankingRates able to determine America’s most expensive retirement towns? All U.S. cities with a total population greater than 25,000 and a retirement age population (age 65 and up) above 25% were isolated. Key factors, including the average 2024 home value and annual mortgage, were found for each city along with annual costs for groceries, healthcare, utilities. The annual expenditures for homeowners were also taken into consideration, as each city was ranked based on expenses for a homeowner.

Key Findings

Nearly half of America’s 50 most expensive retirement towns are in Florida. Twenty-four of the 50 most expensive retirement towns were in the Sunshine State. The five highest ranked Florida towns were Aventura (12), Palm Beach Gardens (14), Boca Raton (15), Palm City (17) and Bonita Springs (18).
While the Sunshine State dominated the top 50, no Florida city cracked the top 10. Among the 10 most expensive towns for retirement were six California cities and two Hawaii cities (Mililani at No. 5 and Pearl City at No. 8), along with Hilton Head Island, South Carolina, (9) and Fort Lee, New Jersey (#10).
California swept the top 10, led by Rancho Palos Verdes. Other California cities that ranked include Walnut Creek (2), Seal Beach (3), Novato (4), Cerritos (6) and Palm Springs (7).

Keep reading to find out which 50 destinations ranked as America’s most expensive retirement towns.

1. Rancho Palos Verdes, California

% of population 65+: 26.2
Annual expenditures as a homeowner: $149,970
2024 home value: $1,995,454
Yearly mortgage cost: $126,036
Annual grocery cost: $5,277
Annual healthcare cost: $6,801
Annual utilities cost: $3,770

2. Walnut Creek, California

% of population 65+: 29.3
Annual expenditures as a homeowner: $118,693
2024 home value: $1,480,984
Yearly mortgage cost: $93,541
Annual grocery cost: $5,373
Annual healthcare cost: $9,131
Annual utilities cost: $4,346

3. Seal Beach, California

% of population 65+: 43.7
Annual expenditures as a homeowner: $117,197
2024 home value: $1,502,206
Yearly mortgage cost: $94,881
Annual grocery cost: $5,128
Annual healthcare cost: $7,042
Annual utilities cost: $4,134

4. Novato, California

% of population 65+: 25.0
Annual expenditures as a homeowner: $99,570
2024 home value: $1,198,683
Yearly mortgage cost: $75,710
Annual grocery cost: $5,368
Annual healthcare cost: $8,302
Annual utilities cost: $4,041

Today’s Top Offers

5. Mililani, Hawaii

% of population 65+: 25.4
Annual expenditures as a homeowner: $93,389
2024 home value: $1,026,769
Yearly mortgage cost: $64,852
Annual grocery cost: $6,687
Annual healthcare cost: $7,668
Annual utilities cost: $7,345

6. Cerritos, California

% of population 65+: 25.5
Annual expenditures as a homeowner: $92,771
2024 home value: $1,092,307
Yearly mortgage cost: $68,992
Annual grocery cost: $4,965
Annual healthcare cost: $6,537
Annual utilities cost: $4,215

7. Palm Springs, California

% of population 65+: 33.2
Annual expenditures as a homeowner: $89,863
2024 home value: $1,064,304
Yearly mortgage cost: $67,223
Annual grocery cost: $4,802
Annual healthcare cost: $6,582
Annual utilities cost: $4,825

8. Pearl City, Hawaii

% of population 65+: 25.1
Annual expenditures as a homeowner: $89,695
2024 home value: $967,106
Yearly mortgage cost: $61,084
Annual grocery cost: $6,701
Annual healthcare cost: $7,668
Annual utilities cost: $7,549

9. Hilton Head Island, South Carolina

% of population 65+: 39.2
Annual expenditures as a homeowner: $84,494
2024 home value: $1,012,359
Yearly mortgage cost: $63,942
Annual grocery cost: $5,128
Annual healthcare cost: $7,894
Annual utilities cost: $4,198

10. Fort Lee, New Jersey

% of population 65+: 25.0
Annual expenditures as a homeowner: $82,893
2024 home value: $917,040
Yearly mortgage cost: $57,922
Annual grocery cost: $5,224
Annual healthcare cost: $7,382
Annual utilities cost: $4,689

11. Scottsdale, Arizona

% of population 65+: 25.1
Annual expenditures as a homeowner: $82,131
2024 home value: $957,314
Yearly mortgage cost: $60,465
Annual grocery cost: $4,955
Annual healthcare cost: $6,975
Annual utilities cost: $4,338

12. Aventura, Florida

% of population 65+: 28.3
Annual expenditures as a homeowner: $77,315
2024 home value: $841,989
Yearly mortgage cost: $53,181
Annual grocery cost: $5,200
Annual healthcare cost: $7,842
Annual utilities cost: $4,084

13. La Quinta, California

% of population 65+: 30.1
Annual expenditures as a homeowner: $71,896
2024 home value: $783,236
Yearly mortgage cost: $49,470
Annual grocery cost: $4,816
Annual healthcare cost: $6,582
Annual utilities cost: $4,537

14. Palm Beach Gardens, Florida

% of population 65+: 31.4
Annual expenditures as a homeowner: $71,780
2024 home value: $773,214
Yearly mortgage cost: $48,837
Annual grocery cost: $5,243
Annual healthcare cost: $7,615
Annual utilities cost: $4,113

Today’s Top Offers

15. Boca Raton, Florida

% of population 65+: 25.7
Annual expenditures as a homeowner: $69,451
2024 home value: $734,478
Yearly mortgage cost: $46,391
Annual grocery cost: $5,286
Annual healthcare cost: $7,615
Annual utilities cost: $4,084

16. Highland Park, Illinois

% of population 65+: 25.3
Annual expenditures as a homeowner: $65,989
2024 home value: $713,464
Yearly mortgage cost: $45,063
Annual grocery cost: $4,984
Annual healthcare cost: $7,261
Annual utilities cost: $4,024

17. Palm City, Florida

% of population 65+: 29.1
Annual expenditures as a homeowner: $65,079
2024 home value: $690,978
Yearly mortgage cost: $43,643
Annual grocery cost: $5,234
Annual healthcare cost: $7,811
Annual utilities cost: $3,952

18. Bonita Springs, Florida

% of population 65+: 41.3
Annual expenditures as a homeowner: $64,644
2024 home value: $661,368
Yearly mortgage cost: $41,773
Annual grocery cost: $5,157
Annual healthcare cost: $8,988
Annual utilities cost: $4,160

19. Lincoln, California

% of population 65+: 27.8
Annual expenditures as a homeowner: $63,817
2024 home value: $649,593
Yearly mortgage cost: $41,029
Annual grocery cost: $5,123
Annual healthcare cost: $7,736
Annual utilities cost: $4,575

20. Estero, Florida

% of population 65+: 50.6
Annual expenditures as a homeowner: $63,677
2024 home value: $637,529
Yearly mortgage cost: $40,267
Annual grocery cost: $5,138
Annual healthcare cost: $8,988
Annual utilities cost: $4,168

21. Palm Desert, California

% of population 65+: 36.1
Annual expenditures as a homeowner: $62,557
2024 home value: $638,084
Yearly mortgage cost: $40,302
Annual grocery cost: $4,778
Annual healthcare cost: $6,582
Annual utilities cost: $4,677

22. Prescott, Arizona

% of population 65+: 40.8
Annual expenditures as a homeowner: $62,182
2024 home value: $620,393
Yearly mortgage cost: $39,185
Annual grocery cost: $4,802
Annual healthcare cost: $9,764
Annual utilities cost: $4,333

23. Delray Beach, Florida

% of population 65+: 27.4
Annual expenditures as a homeowner: $60,306
2024 home value: $590,696
Yearly mortgage cost: $37,309
Annual grocery cost: $5,080
Annual healthcare cost: $7,615
Annual utilities cost: $4,113

24. Palm Harbor, Florida

% of population 65+: 28.1
Annual expenditures as a homeowner: $55,214
2024 home value: $518,866
Yearly mortgage cost: $32,772
Annual grocery cost: $5,090
Annual healthcare cost: $7,819
Annual utilities cost: $4,427

Today’s Top Offers

25. Dunedin, Florida

% of population 65+: 35.2
Annual expenditures as a homeowner: $54,203
2024 home value: $503,123
Yearly mortgage cost: $31,778
Annual grocery cost: $5,056
Annual healthcare cost: $7,819
Annual utilities cost: $4,469

26. Oro Valley, Arizona

% of population 65+: 35.3
Annual expenditures as a homeowner: $54,091
2024 home value: $525,708
Yearly mortgage cost: $33,204
Annual grocery cost: $4,715
Annual healthcare cost: $6,439
Annual utilities cost: $4,566

27. Lake Havasu City, Arizona

% of population 65+: 34.7
Annual expenditures as a homeowner: $53,849
2024 home value: $490,948
Yearly mortgage cost: $31,009
Annual grocery cost: $4,691
Annual healthcare cost: $9,885
Annual utilities cost: $4,270

28. Sarasota, Florida

% of population 65+: 29.6
Annual expenditures as a homeowner: $52,467
2024 home value: $494,070
Yearly mortgage cost: $31,206
Annual grocery cost: $5,109
Annual healthcare cost: $7,668
Annual utilities cost: $3,990

29. Prescott Valley, Arizona

% of population 65+: 28.5
Annual expenditures as a homeowner: $52,406
2024 home value: $465,011
Yearly mortgage cost: $29,371
Annual grocery cost: $4,682
Annual healthcare cost: $9,764
Annual utilities cost: $4,308

30. Venice, Florida

% of population 65+: 61.2
Annual expenditures as a homeowner: $52,342
2024 home value: $485,620
Yearly mortgage cost: $30,672
Annual grocery cost: $5,123
Annual healthcare cost: $7,668
Annual utilities cost: $4,113

31. Tarpon Springs, Florida

% of population 65+: 31.8
Annual expenditures as a homeowner: $52,284
2024 home value: $476,439
Yearly mortgage cost: $30,093
Annual grocery cost: $5,051
Annual healthcare cost: $7,819
Annual utilities cost: $4,333

32. Merritt Island, Florida

% of population 65+: 25.7
Annual expenditures as a homeowner: $51,244
2024 home value: $480,528
Yearly mortgage cost: $30,351
Annual grocery cost: $4,955
Annual healthcare cost: $7,532
Annual utilities cost: $4,134

33. North Fort Myers, Florida

% of population 65+: 47.9
Annual expenditures as a homeowner: $50,806
2024 home value: $339,556
Yearly mortgage cost: $21,447
Annual grocery cost: $4,979
Annual healthcare cost: $15,020
Annual utilities cost: $4,100

34. New Smyrna Beach, Florida

% of population 65+: 35.8
Annual expenditures as a homeowner: $50,611
2024 home value: $461,788
Yearly mortgage cost: $29,167
Annual grocery cost: $4,927
Annual healthcare cost: $7,744
Annual utilities cost: $4,028

Today’s Top Offers

35. Georgetown, Texas

% of population 65+: 28.5
Annual expenditures as a homeowner: $50,429
2024 home value: $449,207
Yearly mortgage cost: $28,373
Annual grocery cost: $4,562
Annual healthcare cost: $7,593
Annual utilities cost: $4,291

36. Bradenton, Florida

% of population 65+: 26.7
Annual expenditures as a homeowner: $49,669
2024 home value: $447,011
Yearly mortgage cost: $28,234
Annual grocery cost: $4,979
Annual healthcare cost: $7,510
Annual utilities cost: $4,003

37. Banning, California

% of population 65+: 27.6
Annual expenditures as a homeowner: $48,629
2024 home value: $409,827
Yearly mortgage cost: $25,885
Annual grocery cost: $4,696
Annual healthcare cost: $6,582
Annual utilities cost: $4,842

38. Tamarac, Florida

% of population 65+: 26.1
Annual expenditures as a homeowner: $48,170
2024 home value: $393,597
Yearly mortgage cost: $24,860
Annual grocery cost: $4,974
Annual healthcare cost: $7,480
Annual utilities cost: $4,113

39. Ormond Beach, Florida

% of population 65+: 31.6
Annual expenditures as a homeowner: $47,004
2024 home value: $408,206
Yearly mortgage cost: $25,783
Annual grocery cost: $4,888
Annual healthcare cost: $7,744
Annual utilities cost: $4,096

40. Sun City West, Arizona

% of population 65+: 86.4
Annual expenditures as a homeowner: $46,987
2024 home value: $402,692
Yearly mortgage cost: $25,435
Annual grocery cost: $4,667
Annual healthcare cost: $6,975
Annual utilities cost: $4,473

41. Largo, Florida

% of population 65+: 26.8
Annual expenditures as a homeowner: $46,917
2024 home value: $392,483
Yearly mortgage cost: $24,790
Annual grocery cost: $5,008
Annual healthcare cost: $7,819
Annual utilities cost: $4,456

42. The Villages, Florida

% of population 65+: 85.9
Annual expenditures as a homeowner: $46,750
2024 home value: $409,300
Yearly mortgage cost: $25,852
Annual grocery cost: $4,898
Annual healthcare cost: $7,382
Annual utilities cost: $4,456

43. Apache Junction, Arizona

% of population 65+: 34.1
Annual expenditures as a homeowner: $45,442
2024 home value: $386,680
Yearly mortgage cost: $24,423
Annual grocery cost: $4,634
Annual healthcare cost: $7,570
Annual utilities cost: $4,228

44. Sun City Center, Florida

% of population 65+: 66.9
Annual expenditures as a homeowner: $44,549
2024 home value: $350,383
Yearly mortgage cost: $22,131
Annual grocery cost: $4,970
Annual healthcare cost: $7,563
Annual utilities cost: $4,147

Today’s Top Offers

45. Port Orange, Florida

% of population 65+: 25.0
Annual expenditures as a homeowner: $44,544
2024 home value: $369,991
Yearly mortgage cost: $23,369
Annual grocery cost: $4,850
Annual healthcare cost: $7,744
Annual utilities cost: $4,084

46. Palm Coast, Florida

% of population 65+: 29.5
Annual expenditures as a homeowner: $44,323
2024 home value: $359,291
Yearly mortgage cost: $22,693
Annual grocery cost: $4,831
Annual healthcare cost: $7,781
Annual utilities cost: $4,079

47. North Port, Florida

% of population 65+: 28.4
Annual expenditures as a homeowner: $43,788
2024 home value: $351,704
Yearly mortgage cost: $22,214
Annual grocery cost: $4,994
Annual healthcare cost: $7,668
Annual utilities cost: $4,117

48. Bullhead City, Arizona

% of population 65+: 29.9
Annual expenditures as a homeowner: $42,682
2024 home value: $320,321
Yearly mortgage cost: $20,232
Annual grocery cost: $4,581
Annual healthcare cost: $9,885
Annual utilities cost: $4,113

49. Sun City, Arizona

% of population 65+: 75.4
Annual expenditures as a homeowner: $42,501
2024 home value: $330,861
Yearly mortgage cost: $20,898
Annual grocery cost: $4,605
Annual healthcare cost: $6,975
Annual utilities cost: $4,473

50. Pahrump, Nevada

% of population 65+: 31.9
Annual expenditures as a homeowner: $42,050
2024 home value: $341,728
Yearly mortgage cost: $21,584
Annual grocery cost: $4,826
Annual healthcare cost: $6,613
Annual utilities cost: $4,316

Photo disclaimer: Photos are for illustrative purposes only. In many cases, the closest major city outside of the city/county mentioned in the article was used.

Methodology: For this piece, GOBankingRates first isolated all U.S. cities with a total population greater than 25,000 and a 65+ population above 25%, as sourced from the 2022 American Community Survey conducted by the U.S. Census Bureau. With these cities isolated, GOBankingRates was able to find the following for each city (1) annual rent as sourced from Zillow’s My 2024 data; (2) 2024 home value as sourced from Zillow’s May 2024 data; (3) annual mortgage assuming a 30-year fixed-rate mortgage at 6.89% as sourced from Freddie Mac on July 11, 2024, and 20% down payment with no HOA, property tax or PMI included; (4) annual grocery costs sourced from the Bureau of Labor Statistics’ 2022 Consumer Expenditure Survey for those 65+ and then factored out by the city’s grocery cost-of-living index as sourced from Sperling’s BestPlaces; (5) annual healthcare costs sourced from the Bureau of Labor Statistics’ 2022 Consumer Expenditure Survey for those 65+ and then factored out by the city’s healthcare cost-of-living index as sourced from Sperling’s BestPlaces; (6) annual utilities costs sourced from the Bureau of Labor Statistics’ 2022 Consumer Expenditure Survey for those 65+ and then factored out by the city’s utilities cost-of-living index as sourced from Sperling’s BestPlaces; (7) annual transportation costs sourced from the Bureau of Labor Statistics’ 2022 Consumer Expenditure Survey for those 65+ and then factored out by the city’s transportation cost-of-living index as sourced from Sperling’s BestPlaces; (8) total annual necessities cost for renters; and (9) total annual necessities cost for homeowners. All data was collected on and is up to date as of July 11, 2024.

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