Greensboro and 19 Other Big Southern Cities Where Retirement Savings Will Last Longest

A healthy concern for any retiree — or someone simply planning for retirement — is whether savings will last throughout retirement. With cost of living steadily on the rise, grocery receipts in the triple digits, mortgage rates skyrocketing and gas prices often feeling astronomical, big-city retirement might seem like a thing of the past.

That might not be the case, however. Recently, GOBankingRates compiled a study concerning over 1,200 American cities, weighing such factors as population (and the percentage of the population over retirement age), cost of living, monthly expenditures and more, and located a number of affordable urban centers in which retirement savings can be stretched.

There are especially healthy numbers in the American South, where GOBankingRates has located 20 major cities in which retirement savings can last the longest. Planning your retirement? Already retired, and looking for a Southern state to which to move? This list might have your answers.

• Population: 298,564
• % of population 65+: 13.9%
• Monthly expenditures: $1,742

• Population: 200,945
• % of population 65+: 14.8%
• Monthly expenditures: $1,745

• Population: 202,739
• % of population 65+: 15.2%
• Monthly expenditures: $1,745

• Population: 250,887
• % of population 65+: 14.8%
• Monthly expenditures: $1,765

• Population: 255,949
• % of population 65+: 9.9%
• Monthly expenditures: $1,798

• Population: 321,122
• % of population 65+: 14.4%
• Monthly expenditures: $1,813

• Population: 204,383
• % of population 65+: 14.4%
• Monthly expenditures: $1,818

• Population: 629,063
• % of population 65+: 14.1%
• Monthly expenditures: $1,825

• Population: 201,504
• % of population 65+: 14.8%
• Monthly expenditures: $1,826

• Population: 1,458,954
• % of population 65+: 13.1%
• Monthly expenditures: $1,826

• Population: 317,383
• % of population 65+: 15%
• Monthly expenditures: $1,833

• Population: 470,763
• % of population 65+: 11.7%
• Monthly expenditures: $1,837

• Population: 288,465
• % of population 65+: 13%
• Monthly expenditures: $1,837

• Population: 627,210
• % of population 65+: 15.9%
• Monthly expenditures: $1,839

• Population: 412,322
• % of population 65+: 15%
• Monthly expenditures: $1,854

• Population: 261,078
• % of population 65+: 12.5%
• Monthly expenditures: $1,856

• Population: $227,595
• % of population 65+: 13.6%
• Monthly expenditures: $1,858

• Population: 235,037
• % of population 65+: 12.6%
• Monthly expenditures: $1,863

• Population: 886,283
• % of population 65+: 10.8%
• Monthly expenditures: $1,865

• Population: 287,339
• % of population 65+: 14.1%
• Monthly expenditures: $1,884

Methodology: For this study, GOBankingRates analyzed cities in the Southern United States to find the places where retirement savings will last the longest. GOBankingRates defines the Southern United States as Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and West Virginia. For each location, GOBankingRates found total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost-of-living indexes. Using the cost of living and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for each location were calculated. The average single-family home value was sourced from Zillow Home Value Index for November 2024. Using home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage was calculated. Using the average mortgage and average expenditure costs, the average cost of living was calculated. The cities were ranked to show the places where retirement savings will last the longest with the total cost of living and the places where retirement savings will last the longest with expenditure costs. All data was collected on and is up to date as of Jan. 23, 2025.