How Far $1 Million Goes in America’s Most Popular Retirement Towns

Among U.S. cities with the highest percentage of retirees, a $1 million nest egg can mean vastly different things.

In some of America’s most popular retirement towns, a million bucks could last you more than 20 years — even if you’re living comfortably with more than just the basics. In other locales, you would exhaust your million in less than five years.

In the most expensive spot, you wouldn’t even make it two years. These figures don’t include Social Security.

To show where your money would go the furthest, GOBankingRates has identified the 30 U.S. locales with the highest percentage of residents age 65 and up, then penciled out living expenses to determine how long a million-dollar nest egg would last. The analysis is based on data from the U.S. Census, Sperling’s Best Places, Zillow and the Bureau of Labor Statistics, among other sources.

Each entry in GBR’s 30-city list has a 65+ population of at least 52 percent. The annual cost of living comfortably ranges from $43,000 to a sky-high $843,000.

Here’s GBR’s list, ranked in order of percentage of retirees. There are two drawdown times for each city — one for living on necessities and another for living more comfortably (with 20% more to work with).

Also see how long $2 million will last in every state.

• Population 65+ %: 52.5
• Annual cost of necessities: $83,229
  • How long $1M lasts without Social Security: 12 years
• Annual cost of comfortable living: $99,875
  • How long $1M lasts without Social Security: 10 years

Bingham Farms is a small village located in Oakland County, about 20 miles northwest of downtown Detroit. You can live comfortably here for just shy of $100,000 a year, putting the drawdown time for a million dollars right at 10 years. Bingham Farms’ median household income – about $219,000 – is the second highest among the cities in this list.

• Population 65+ %: 52.6
• Annual cost of necessities: $42,439
  • How long $1M lasts without Social Security: 23.6 years
• Annual cost of comfortable living: $50,926
  • How long $1M lasts without Social Security: 19.6 years

Wellton is a small town in southwestern Arizona, located in Yuma County. A single-family home here is worth about $260,000 on average. Average monthly healthcare costs come in around $900, the second highest total among the cities listed.

• Population 65+ %: 52.8
• Annual cost of necessities: $67,191
  • How long $1M lasts without Social Security: 14.9 years
• Annual cost of comfortable living: $80,629
  • How long $1M lasts without Social Security: 12.4 years

Ponce Inlet is a coastal town in Volusia County, located at the southern tip of the barrier island that stretches along the Atlantic coast near Daytona Beach. A month’s worth of groceries here will cost you about $420. AreaVibes gives Ponce Inlet a livability score of 72.

• Population 65+ %: 52.9
• Annual cost of necessities: $36,005
  • How long $1M lasts without Social Security: 27.8 years
• Annual cost of comfortable living: $43,206
  • How long $1M lasts without Social Security: 23.2 years

Walnut is a small city located in Pottawattamie County, about 45 miles east of Omaha, Nebraska, and roughly 90 miles west of Des Moines. A million dollars will stretch nearly 30 years here if you’re sticking to the basics. Monthly mortgages in Walnut average between $1,100 and $1,200.

• Population 65+ %: 53.5
• Annual cost of necessities: $48,003
  • How long $1M lasts without Social Security: 20.8 years
• Annual cost of comfortable living: $57,604
  • How long $1M lasts without Social Security: 17.4 years

Punta Gorda is a waterfront city located in southwest Florida, in Charlotte County. The average monthly mortgage comes in around $2,200.

• Population 65+ %: 53.6
• Annual cost of necessities: $92,630
  • How long $1M lasts without Social Security: 10.8 years
• Annual cost of comfortable living: $111,156
  • How long $1M lasts without Social Security: 9 years

Hillsboro Beach is a small town located in southeastern Florida, just south of Deerfield Beach and north of Pompano Beach. With an annual cost of living comfortably around $111,000, you could expect to exhaust your $1 million in about nine years.

• Population 65+ %: 54.3
• Annual cost of necessities: $57,599
  • How long $1M lasts without Social Security: 17.4 years
• Annual cost of comfortable living: $69,118
  • How long $1M lasts without Social Security: 14.5 years

You’ll find Star Valley in central Arizona’s Gila County. You could do pretty well here financially with a million-dollar nest egg, but livability could be an issue. Star Valley gets a livability score of just 49 from AreaVibes.

• Population 65+ %: 55.1
• Annual cost of necessities: $74,722
  • How long $1M lasts without Social Security: 13.4 years
• Annual cost of comfortable living: $89,667
  • How long $1M lasts without Social Security: 11.2 years

Fort Myers Beach is located on Estero Island in Lee County, just west of the city of Fort Myers and south of Cape Coral. An average mortgage in Fort Myers will run you about $4,100. The average single-family home here is valued at $727,000.

• Population 65+ %: 55.4
• Annual cost of necessities: $199,956
  • How long $1M lasts without Social Security: 5.0 years
• Annual cost of comfortable living: $239,947
  • How long $1M lasts without Social Security: 4.2 years

Kiawah Island is a barrier island located in Charleston County, about 25 miles southwest of downtown Charleston. With a median household income of $237,000, Kiawah Island sits at the top of GBR’s list. Single-family homes here are valued around $2.6 million on average.

• Population 65+ %: 55.5
• Annual cost of necessities: $36,223
  • How long $1M lasts without Social Security: 27.6 years
• Annual cost of comfortable living: $43,468
  • How long $1M lasts without Social Security: 23 years

Elephant Butte is a small city located in Sierra County in the southwestern part of the state. You can stretch a million dollars here further than all but a couple of cities in GBR’s list. A monthly mortgage here averages only about $1,300.

• Population 65+ %: 56.1
• Annual cost of necessities: $145,828
  • How long $1M lasts without Social Security: 6.9 years
• Annual cost of comfortable living: $174,994
  • How long $1M lasts without Social Security: 5.7 years

Indian Wells is a resort city located in Riverside County, in Southern California’s Coachella Valley. Transportation costs here are the highest among cities in this list — about $570 each month. With the annual cost of living comfortably approaching $200,000, a $1 million nest egg would last less than six years.

• Population 65+ %: 56.2
• Annual cost of necessities: $70,067
  • How long $1M lasts without Social Security: 14.3 years
• Annual cost of comfortable living: $84,080
  • How long $1M lasts without Social Security: 11.9 years

Naples sits about 125 miles west of Miami and roughly 40 miles south of Fort Myers. Naples has a median household income of about $141,000. A month’s worth of groceries will cost you just under $500 on average.

• Population 65+ %: 57.2
• Annual cost of necessities: $109,758
  • How long $1M lasts without Social Security: 9.1 years
• Annual cost of comfortable living: $131,709
  • How long $1M lasts without Social Security: 7.6 years

Holmes Beach is located on Anna Maria Island in Manatee County, on Florida’s Gulf Coast. Single-family homes here are valued around $1.3 million on average. Monthly mortgages average around $7,200.

• Population 65+ %: 57.5
• Annual cost of necessities: $59,466
  • How long $1M lasts without Social Security: 16.8 years
• Annual cost of comfortable living: $ 71,360
  • How long $1M lasts without Social Security: 14 years

Sunset Beach is a coastal town found at the southeastern tip of the state, just north of the South Carolina border. A month’s worth of groceries in Sunset Beach costs $420 on average.

• Population 65+ %: 57.6
• Annual cost of necessities: $75,233
  • How long $1M lasts without Social Security: 13.3 years
• Annual cost of comfortable living: $90,279
  • How long $1M lasts without Social Security: 11.1 years

Langley is located on the southern end of Whidbey Island in Island County. With only about a thousand residents, Langley is the smallest city in the list. Average monthly expenditures rank third lowest.

• Population 65+ %: 58.7
• Annual cost of necessities: $201,874
  • How long $1M lasts without Social Security: 5.0 years
• Annual cost of comfortable living: $242,249
  • How long $1M lasts without Social Security: 4.1 years

Carmel-by-the-Sea sits along California’s Central Coast, about 120 miles south of San Francisco. Living here for a year on just the basics will run you about $200,000, so expect to burn through your $1 million retirement savings in about five years.

• Population 65+ %: 59.0
• Annual cost of necessities: $119,775
  • How long $1M lasts without Social Security: 8.6 years
• Annual cost of comfortable living: $143,730
  • How long $1M lasts without Social Security: 7.0 years

Marco Island is located in southwestern Florida, just south of Naples. Marco Island has a median household income of just over $100,000. Single-family homes here are worth about $1.4 million on average.

• Population 65+ %: 59.0
• Annual cost of necessities: $91,526
  • How long $1M lasts without Social Security: 10.9 years
• Annual cost of comfortable living: $109,831
  • How long $1M lasts without Social Security: 9.1 years

Sanibel is a barrier island found on the southwest coast of Florida. Average monthly grocery costs in Sanibel approach $500. Monthly healthcare averages close to $800.

• Population 65+ %: 59.1
• Annual cost of necessities: $66,222
  • How long $1M lasts without Social Security: 15.1 years
• Annual cost of comfortable living: $79,467
  • How long $1M lasts without Social Security: 12.6 years

This historic coastal town is located in Sussex County. Single-family homes in Lewes are valued around $620,000 on average. The median household income comes in around $92,000.

• Population 65+ %: 59.9
• Annual cost of necessities: $52,100
  • How long $1M lasts without Social Security: 19.2 years
• Annual cost of comfortable living: $62,520
  • How long $1M lasts without Social Security: 16.0 years

Venice sits along the southwestern Gulf Coast of Florida, about 20 miles south of Sarasota and roughly 75 miles north of Fort Myers. With about 26,000 residents, Venice is the most populous locale in GBR’s list. Monthly mortgages here average around $2,400.

• Population 65+ %: 60.7
• Annual cost of necessities: $30,194
  • How long $1M lasts without Social Security: 33.1 years
• Annual cost of comfortable living: $36,232
  • How long $1M lasts without Social Security: 27.6 years

Fairfield Bay is located in north-central Arkansas in the foothills of the Ozark Mountains, about 85 miles north of Little Rock. Single-family homes in Fairfield Bay are worth $144,000 on average, the lowest figure among locations in this list. The median household income — about $55,000 — is the fifth lowest. A million-dollar nest egg will last longer in Fairfield Bay than anywhere else in GBR’s list.

• Population 65+ %: 60.9
• Annual cost of necessities: $73,879
  • How long $1M lasts without Social Security: 13.5 years
• Annual cost of comfortable living: $88,654
  • How long $1M lasts without Social Security: 11.3 years

You’ll find St. James in Brunswick County, about 30 miles south of Wilmington. Groceries in St. James cost about $420 each month on average. The median household income is roughly $114,000.

• Population 65+ %: 61.4
• Annual cost of necessities: $51,859
  • How long $1M lasts without Social Security: 19.3 years
• Annual cost of comfortable living: $62,231
  • How long $1M lasts without Social Security: 16.1 years

Not to be confused with the California city of the same name, this South Pasadena is located in Pinellas County along Florida’s Gulf Coast. Its livability score from AreaVibes is a solid 81 — the highest among the cities in GBR’s list.

• Population 65+ %: 62.1
• Annual cost of necessities: $702,569
  • How long $1M lasts without Social Security: 1.4 years
• Annual cost of comfortable living: $843,083
  • How long $1M lasts without Social Security: 1.2 years

Palm Beach is a well-known, affluent town located on a barrier island in southeastern Florida. It’s an expensive place to live, and a million-dollar nest egg won’t last you very long. The average value of a single-family home in Palm Beach is a whopping $9.9 million.

• Population 65+ %: 63.2
• Annual cost of necessities: $146,562
  • How long $1M lasts without Social Security: 6.8 years
• Annual cost of comfortable living: $175,874
  • How long $1M lasts without Social Security: 5.7 years

Highland Beach sits along the Atlantic Ocean between the cities of Delray Beach to the north and Boca Raton to the south. Highland Beach has some of the most expensive housing in GBR’s list, with average values around $1.7 million. The median household income is about $142,000.

• Population 65+ %: 63.8
• Annual cost of necessities: $109,900
  • How long $1M lasts without Social Security: 9.1 years
• Annual cost of comfortable living: $131,880
  • How long $1M lasts without Social Security: 7.8 years

Seabrook Island is a coastal community located in Charleston County, about 25 miles southwest of downtown Charleston. You can plan to spend about $7,200 a month for your mortgage here. A month’s worth of groceries in Seabrook Island costs $430 on average.

• Population 65+ %: 64.4
• Annual cost of necessities: $37,703
  • How long $1M lasts without Social Security: 26.5 years
• Annual cost of comfortable living: $45,244
  • How long $1M lasts without Social Security: 22.1 years

Tiny Quartzsite sits in western Arizona near the California border, roughly 125 miles west of Phoenix. Quartzsite has a median household income of just $24,000 — by far the lowest total among the 30 cities listed. Monthly mortgages here average less than $1,200.

• Population 65+ %: 67.0
• Annual cost of necessities: $121,707
  • How long $1M lasts without Social Security: 8.2 years
• Annual cost of comfortable living: $146,048
  • How long $1M lasts without Social Security: 6.9 years

Longboat Key is a barrier island town located on Florida’s Gulf Coast, just west of Sarasota. With two-thirds of its residents age 65 and up, Longboat Key gets a livability score of 63 from AreaVibes. Single-family homes here are valued around $1.4 million on average.

• Population 65+ %: 73.2
• Annual cost of necessities: $145,763
  • How long $1M lasts without Social Security: 6.9 years
• Annual cost of comfortable living: $174,915
  • How long $1M lasts without Social Security: 5.7 years

Indian River Shores is a small town located in Indian River County on Florida’s east coast. The median household income for Indian River Shores averages just shy of $150,000. Single-family homes here are valued at $1.8 million on average.

• Population 65+ %: 83.0
• Annual cost of necessities: $59,451
  • How long $1M lasts without Social Security: 16.8 years
• Annual cost of comfortable living: $71,341
  • How long $1M lasts without Social Security: 14 years

Talk about your retirement towns. More than 8 in 10 residents of Laguna Woods are age 65 or older. Located about 50 miles southeast of Los Angeles, Laguna Woods sits in the middle of the pack among cities in this list when it comes to how long a million bucks will last you. Single-family homes here are valued at $525,000 on average.

Methodology: To determine how long $1 million in retirement savings can last, GOBankingRates conducted an analysis of the most popular retirement destinations across the U.S. The study began by identifying cities with the highest percentage of residents age 65 and older, using data from the U.S. Census Bureau’s 2023 American Community Survey. Additional demographic metrics — including total population, number of households, median household income, and mean household income — were also sourced from the same dataset. Cost-of-living indexes for each city were obtained from Sperling’s BestPlaces. To estimate average annual expenses for retired households, the study used national expenditure data from the Bureau of Labor Statistics’ Consumer Expenditure Survey for retired consumer units. These figures were adjusted based on each city’s cost-of-living index to calculate localized spending estimates. Housing costs were factored in using the Zillow Home Value Index for average single-family home prices. Assuming a 10% down payment and applying the national average 30-year fixed mortgage rate from the Federal Reserve Economic Data, the study calculated typical monthly mortgage payments for each location. By combining mortgage costs with estimated living expenses, GOBankingRates determined the total cost of essential retirement living in each city. To reflect a more comfortable lifestyle, a 20% buffer was added to this baseline. Using these two spending scenarios — basic necessities and comfortable living — the study calculated how long a $1 million retirement fund would last in each location. Cities were ranked by their concentration of residents age 65 and older. All data used in the analysis was up to date as of Sept. 9, 2025.