24 Affordable US Cities With Large Populations of Retirees

When planning for retirement, it’s important to decide where you’ll live out your golden years. Not only should you be thinking about economic factors such as cost of living when determining where to retire, you should also consider whether you’ll have peers in your community. Is there a large population of other retirees?

GOBankingRates conducted a thorough analysis to find the most affordable places with a large population of retirees, factoring in data from the U.S. Census American Community Survey, the Bureau of Labor Statistics and the Federal Reserve, among others.

Here’s a look at 24 affordable cities that have many retirees as residents. Each of these cities is made up of at least 50% folks aged 65 and older.

• Livability: 79
• Household median income: $100,543 
• Total cost of living annually:  $68,420   
• Population total: 36,685

Percentage of population of people 65 and older: 50.6%

• Livability: 70
• Household median income: $46,694 
• Total cost of living annually: $45,969 
• Population total: 16,047 

Percentage of population of people 65 and older: 50.9%

• Livability: 61
• Household median income: $119,210 
• Total cost of living annually: $86,736 
• Population total: 9,292 

Percentage of population of people 65 and older: 51.6%

• Livability: 76
• Household median income: $75,898 
• Total cost of living annually: $51,473 
• Population total: 19,605 

Percentage of population of people 65 and older: 52.5%

• Livability: 75
• Household median income: $65,334 
• Total cost of living annually: $52,716 
• Population total: 5,087  

Percentage of population of people 65 and older: 53.2%

• Livability: 68
• Household median income: $113,500
• Total cost of living annually: $127,426 
• Population total: 5,535 

Percentage of population of people 65+: 53.9%

• Livability: 79
• Household median income: $135,657 
• Total cost of living annually: $73,598 
• Population total: 19,315  

Percentage of population of people 65 and older: 54.6%

• Livability: 60
• Household median income: $83,654 
• Total cost of living annually: $57,411
• Population total: 11,565   

Percentage of population of people 65 and older: 54.9%

• Livability: 65
• Household median income: $46,434 
• Total cost of living annually: $39,125 
• Population total: 9,164  

Percentage of population of people 65 and older: 55.9%

• Livability: 69
• Household median income: $87,204 
• Total cost of living annually: $84,860 
• Population total: 5,650   

Percentage of population of people 65 and older: 56.3%

• Livability: 72
• Household median income: $61,734 
• Total cost of living annually: $49,797
• Population total: 19,378   

Percentage of population of people 65 and older: 58.2%

• Livability: 70
• Household median income: $105,315 
• Total cost of living annually: $130,196 
• Population total: 15,942   

Percentage of population of people 65 and older: 58.6%

• Livability: 66
• Household median income: $68,580 
• Total cost of living annually: $42,618
• Population total: 16,843 

Percentage of population of people 65 and older: 61.0%

• Livability: 79
• Household median income: $68,843 
• Total cost of living annually: $55,948 
• Population total: 25,710  

Percentage of population of people 65 and older: 61.2%

• Livability: 67
• Household median income: $111,683 
• Total cost of living annually: $104,161 
• Population total: 6,420 

Percentage of population of people 65 and older: 63.6%

• Livability: 81
• Household median income: $48,490 
• Total cost of living annually: $56,126   
• Population total: 5,334 

Percentage of population of people 65 and older: 64.6%

• Livability: 77 
• Household median income: $64,661 
• Total cost of living annually: $47,644
• Population total: 29,290 

Percentage of population of people 65 and older: 66.9%

• Livability: 63
• Household median income: $141,250 
• Total cost of living annually: $131,546 
• Population total: 7,479 

Percentage of population of people 65 and older: 69.9%

• Livability: 71 
• Household median income: $51,263 
• Total cost of living annually: $45,692  
• Population total: 37,748  

Percentage of population of people 65 and older: 75.4%

• Livability: 58
• Household median income: $57,785  
• Total cost of living annually: $43,423
• Population total: 20,937 

Percentage of population of people 65 and older: 80.5%

• Livability: 72
• Household median income: $56,928  
• Total cost of living annually: $56,813 
• Population total: 17,452 

Percentage of population of people 65 and older: 82.6%

• Livability: 67
• Household median income: $52,720   
• Total cost of living annually: $45,317 
• Population total: 5,059 

Percentage of population of people 65 and older: 83.1%

• Livability: 70
• Household median income: $73,415 
• Total cost of living annually: $50,581 
• Population total: 79,108 

Percentage of population of people 65 and older: 85.9%

• Livability: 62
• Household median income: $61,941 
• Total cost of living annually: $50,501
• Population total: 26,639

Percentage of population of people 65 and older: 86.4%

Methodology: For this study, GOBankingRates analyzed places to find the most affordable places with a large population of retirees. First, GOBankingRates found cities with the highest population of retirees using the U.S. Census American Community Survey to find the population of all residents and the population of residents aged 65 and over, enabling the calculation of percent of the population aged 65 and over. For each city, a number of factors were found, including: cost of living indexes as sourced from Sperlings BestPlaces; the average single family home value from the Zillow Home Value Index; and the number of households and the household median income, both sourced from the U.S. Census American Community Survey. The average expenditure cost for residents aged 65 and over was sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, and using the cost of living indexes, the average expenditure costs can be calculated for each city. Using the average home value, assuming a 10% down payment, and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage cost can be calculated. The average mortgage and average expenditure costs can be used to find the average total cost of living. The livability index was sourced from AreaVibes as supplemental information. The percent of the population aged 65 and over was scored and weighted at 0.75, the average expenditure cost was scored and weighted at 2.00, and the average mortgage cost was scored and weighted at 2.00. All the scores were summed and sorted to show the most affordable U.S. cities with a large population of retirees. All data was collected on and is up to date as of July 29, 2024.

Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.