5 Cities Where Senior Household Income Has Grown the Most

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This year marks a historic moment for retirement in America. A record 4.1 million people will turn 65 this year, according to the Alliance for Lifetime Income.

While rising healthcare costs and lingering inflation continue to erode many nest eggs — Fidelity’s 2025 State of Retirement Planning Report found that 70% of retirees say their spending power has declined — there are some bright spots across the U.S.

In several cities, senior household income has actually surged, which could signal a combination of stronger local economies, higher retirement-account distributions and, in some cases, more older adults choosing to stay in the workforce.

According to SmartAsset’s analysis of 50 of the largest U.S. cities, here are five where retirees have seen a large increase in their household income.

1. Seattle, Washington

• Senior household income (2024): $80,550
• Yearly change: +24.1%

Seattle leads the country in senior income growth, likely a reflection of its well-paid tech workforce now entering their golden years. Home to big players like Amazon and Microsoft, many retirees benefit from strong 401(k) balances, stock portfolios and pensions.

2. Arlington, Texas

• Senior household income (2024): $69,838
• Yearly change: 19.2%

Arlington continues to benefit from Texas’s strong job market and tax advantages. With no state income tax and relatively affordable housing compared to nearby Dallas and Fort Worth, seniors here keep more of what they withdraw from retirement accounts.

3. Raleigh, North Carolina

• Senior household income (2024): $69,882
• Yearly change: +18.3%

Raleigh has become one of the fastest-growing cities in the Southeast, thanks to its proximity to Research Triangle Park and its steady pipeline of well-paid biotech, engineering and university professionals entering retirement. The area’s accessible healthcare system and moderate cost of living make it an attractive place to age in place, and many retirees draw significant income from employer-sponsored retirement plans.

4. Tampa, Florida

• Senior household income (2024): $48,632
• Yearly change: +17.4%

Tampa’s warm climate and large retiree population have long made it a popular destination. Florida’s lack of state income tax is another major draw, and the city’s expanding healthcare, hospitality and logistics sectors offer ample part-time work for older adults seeking supplemental income.

5. Charlotte, North Carolina

• Senior household income (2024): $60,284
• Yearly change: 16.3%

Charlotte’s surge in senior income mirrors its growth as a major banking and financial hub. Many retirees who worked in finance, insurance or corporate roles now draw from sizable retirement accounts. The city’s strong economy and lower cost of living relative to other financial centers also help stretch retirement dollars further.

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