Here’s the Savings Needed To Retire in 40 of America’s Most Popular Retirement Spots — All in Florida and Arizona

June 8, 2025

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Two of the nation’s most popular states to retire in, Florida and Arizona, are well-known for their good weather and lower taxes. Considering these factors matter to retirees seeking a comfortable lifestyle, it’s not too surprising that 40 of America’s most popular retirement locales are found in these two states.

What is surprising is the amount needed in savings for solo and married retirees alike. Depending on the metro, at least $1 million, if not more, is necessary to cover 15 years in retirement with Social Security benefits.

GOBankingRates was able to find the savings needed for retirement in the top retirement hubs by sourcing key factors from the US Census’s 2023 5-year American Community Survey. Cities with at least 1,000 population and at least 30% of the population ages 65 and over were selected. The average Social Security income for one person and a married couple was used to calculate the annual cost of retirement.

Assuming a person retires at 65 and lives to age 80, a 15-year retirement window is used to calculate the cost of retirement. Using the annual cost of retirement and the Social Security income, the cost of retirement with Social Security for one person, and with Social Security for a married couple can be calculated for 15 years. Retirement towns are ranked based on the largest percentage of adults 65 and older.

Key Findings

Rio Verde, Arizona ranked number one thanks to a 65+ population that makes up roughly 87% of the city. A single person retiring in Rio Verde needs $896,947 to afford 15 years while a couple would need $726,239. Both these amounts include Social Security.
Florida has 30 metros in the top 40 ranking and 10 Arizona cities make up the remainder.
Adults 65+ make up more than 80% of the population in the top five retirement hubs. Besides Rio Verde, they include Sun City West (85.8%), The Villages (85.2%), Timber Pines (84.5%) and Green Valley (79.8%).
Carefree, Arizona (#45) is the only Arizona city to rank where a 15-year retirement costs more than $1 million. The cost for one is $1,416,504 while two need $1,245,795.
At least $1 million is required in savings for singles and married couples in seven Florida cities to afford 15 years of retirement. In ranking order, these cities include Indian River Shores, Longboat Key, Highland Beach, Palm Beach, Marco Island, Holmes Beach and Siesta Key. (Though Sanibel and Hillsboro Beach were not included, both Florida cities require solo retirees to have a savings of at least $1.1 million+.)
You need at least $11 million in savings to retire in Palm Beach. The Florida metro’s cost of retirement for one is a whopping $11,637,136 and $11,466,427 for two, covering a 15-year span.

Ranked from cities with the highest concentration of people ages 65 and over, this is how much is needed in savings to retire in America’s 40 most popular retirement spots.

Today’s Top Offers

1. Rio Verde, Arizona

Population 65+ (%): 86.6%
Total annual cost of living for one (with Social Security): $59,796
15-year cost of retirement for one (with Social Security): $896,947
Total annual cost of living for two (with Social Security): $48,416
15-year cost of retirement for two (with Social Security): $726,239

2. Sun City West, Arizona

Population 65+ (%): 85.8%
Total annual cost of living for one (with Social Security): $26,371
15-year cost of retirement for one (with Social Security): $395,560
Total annual cost of living for two (with Social Security): $14,990
15-year cost of retirement for two (with Social Security): $224,852

3. The Villages, Florida

Population 65+ (%): 85.2%
Total annual cost of living for one (with Social Security): $27,700
15-year cost of retirement for one (with Social Security): $415,503
Total annual cost of living for two (with Social Security): $16,320
15-year cost of retirement for two (with Social Security): $244,794

4. Timber Pines, Florida

Population 65+ (%): 84.5%
Total annual cost of living for one (with Social Security): $21,620
15-year cost of retirement for one (with Social Security): $324,307
Total annual cost of living for two (with Social Security): $10,240
15-year cost of retirement for two (with Social Security): $153,599

5. Green Valley, Arizona

Population 65+ (%): 79.8%
Total annual cost of living for one (with Social Security): $20,532
15-year cost of retirement for one (with Social Security): $307,980
Total annual cost of living for two (with Social Security): $9,151
15-year cost of retirement for two (with Social Security): $137,271

6. Sun City, Arizona

Population 65+ (%): 74.9%
Total annual cost of living for one (with Social Security): $23,452
15-year cost of retirement for one (with Social Security): $351,780
Total annual cost of living for two (with Social Security): $12,071
15-year cost of retirement for two (with Social Security): $181,071

Today’s Top Offers

7. Indian River Shores, Florida

Population 65+ (%): 73.2%
Total annual cost of living for one (with Social Security): $128,826
15-year cost of retirement for one (with Social Security): $1,932,394
Total annual cost of living for two (with Social Security): $117,446
15-year cost of retirement for two (with Social Security): $1,761,685

8. Plantation, Florida

Population 65+ (%): 73.1%
Total annual cost of living for one (with Social Security): $45,890
15-year cost of retirement for one (with Social Security): $688,350
Total annual cost of living for two (with Social Security): $34,509
15-year cost of retirement for two (with Social Security): $517,641

9. Longboat Key, Florida

Population 65+ (%): 67%
Total annual cost of living for one (with Social Security): $105,949
15-year cost of retirement for one (with Social Security): $1,589,230
Total annual cost of living for two (with Social Security): $94,568
15-year cost of retirement for two (with Social Security): $1,418,521

10. Quartzsite, Arizona

Population 65+ (%): 64.4%
Total annual cost of living for one (with Social Security): $15,338
15-year cost of retirement for one (with Social Security): $230,067
Total annual cost of living for two (with Social Security): $3,957
15-year cost of retirement for two (with Social Security): $59,358

11. Highland Beach, Florida

Population 65+ (%): 63.2%
Total annual cost of living for one (with Social Security): $137,184
15-year cost of retirement for one (with Social Security): $2,057,753
Total annual cost of living for two (with Social Security): $125,803
15-year cost of retirement for two (with Social Security): $1,887,044

12. Palm Beach, Florida

Population 65+ (%): 62.1%
Total annual cost of living for one (with Social Security): $775,809
15-year cost of retirement for one (with Social Security): $11,637,136
Total annual cost of living for two (with Social Security): $764,428
15-year cost of retirement for two (with Social Security): $11,466,427

Today’s Top Offers

13. South Pasadena, Florida

Population 65+ (%): 61.4%
Total annual cost of living for one (with Social Security): $31,254
15-year cost of retirement for one (with Social Security): $468,816
Total annual cost of living for two (with Social Security): $19,874
15-year cost of retirement for two (with Social Security): $298,108

14. Venice, Florida

Population 65+ (%): 59.9%
Total annual cost of living for one (with Social Security): $31,726
15-year cost of retirement for one (with Social Security): $475,884
Total annual cost of living for two (with Social Security): $20,345
15-year cost of retirement for two (with Social Security): $305,176

15. Englewood, Florida

Population 65+ (%): 59.4%
Total annual cost of living for one (with Social Security): $25,454
15-year cost of retirement for one (with Social Security): $381,809
Total annual cost of living for two (with Social Security): $14,073
15-year cost of retirement for two (with Social Security): $211,101

16. Sanibel, Florida

Population 65+ (%): 59%
Total annual cost of living for one (with Social Security): $75,638
15-year cost of retirement for one (with Social Security): $1,134,570
Total annual cost of living for two (with Social Security): $64,257
15-year cost of retirement for two (with Social Security): $963,862

17. Marco Island, Florida

Population 65+ (%): 59%
Total annual cost of living for one (with Social Security): $105,811
15-year cost of retirement for one (with Social Security): $1,587,165
Total annual cost of living for two (with Social Security): $94,430
15-year cost of retirement for two (with Social Security): $1,416,457

18. Holmes Beach, Florida

Population 65+ (%): 57.2%
Total annual cost of living for one (with Social Security): $93,424
15-year cost of retirement for one (with Social Security): $1,401,364
Total annual cost of living for two (with Social Security): $82,044
15-year cost of retirement for two (with Social Security): $1,230,656

Today’s Top Offers

19. Micco, Florida

Population 65+ (%): 56.9%
Total annual cost of living for one (with Social Security): $15,622
15-year cost of retirement for one (with Social Security): $234,327
Total annual cost of living for two (with Social Security): $4,241
15-year cost of retirement for two (with Social Security): $63,618

20. Naples, Florida

Population 65+ (%): 56.2%
Total annual cost of living for one (with Social Security): $49,885
15-year cost of retirement for one (with Social Security): $748,276
Total annual cost of living for two (with Social Security): $38,504
15-year cost of retirement for two (with Social Security): $577,567

21. Fort Myers Beach, Florida

Population 65+ (%): 55.1%
Total annual cost of living for one (with Social Security): $60,964
15-year cost of retirement for one (with Social Security): $914,466
Total annual cost of living for two (with Social Security): $49,584
15-year cost of retirement for two (with Social Security): $743,757

22. Star Valley, Arizona

Population 65+ (%): 54.3%
Total annual cost of living for one (with Social Security): $36,219
15-year cost of retirement for one (with Social Security): $543,284
Total annual cost of living for two (with Social Security): $24,838
15-year cost of retirement for two (with Social Security): $372,576

23. Hillsboro Beach, Florida

Population 65+ (%): 53.6%
Total annual cost of living for one (with Social Security): $73,810
15-year cost of retirement for one (with Social Security): $1,107,143
Total annual cost of living for two (with Social Security): $62,429
15-year cost of retirement for two (with Social Security): $936,435

24. Punta Gorda, Florida

Population 65+ (%): 53.5%
Total annual cost of living for one (with Social Security): $26,691
15-year cost of retirement for one (with Social Security): $400,359
Total annual cost of living for two (with Social Security): $15,310
15-year cost of retirement for two (with Social Security): $229,651

Today’s Top Offers

25. Gold Canyon, Arizona

Population 65+ (%): 52.9%
Total annual cost of living for one (with Social Security): $34,807
15-year cost of retirement for one (with Social Security): $522,108
Total annual cost of living for two (with Social Security): $23,427
15-year cost of retirement for two (with Social Security): $351,400

26. Ponce Inlet, Florida

Population 65+ (%): 52.8%
Total annual cost of living for one (with Social Security): $45,775
15-year cost of retirement for one (with Social Security): $686,627
Total annual cost of living for two (with Social Security): $34,395
15-year cost of retirement for two (with Social Security): $515,919

27. Wellton, Arizona

Population 65+ (%): 52.6%
Total annual cost of living for one (with Social Security): $20,825
15-year cost of retirement for one (with Social Security): $312,378
Total annual cost of living for two (with Social Security): $9,445
15-year cost of retirement for two (with Social Security): $141,670

28. Zellwood, Florida

Population 65+ (%): 52.5%
Total annual cost of living for one (with Social Security): $24,675
15-year cost of retirement for one (with Social Security): $370,119
Total annual cost of living for two (with Social Security): $13,294
15-year cost of retirement for two (with Social Security): $199,411

29. Lady Lake, Florida

Population 65+ (%): 52.4%
Total annual cost of living for one (with Social Security): $23,210
15-year cost of retirement for one (with Social Security): $348,148
Total annual cost of living for two (with Social Security): $11,829
15-year cost of retirement for two (with Social Security): $177,439

30. Siesta Key, Florida

Population 65+ (%): 52.4%
Total annual cost of living for one (with Social Security): $99,275
15-year cost of retirement for one (with Social Security): $1,489,130
Total annual cost of living for two (with Social Security): $87,895
15-year cost of retirement for two (with Social Security): $1,318,422

Today’s Top Offers

31. Pine, Arizona

Population 65+ (%): 52%
Total annual cost of living for one (with Social Security): $32,610
15-year cost of retirement for one (with Social Security): $489,153
Total annual cost of living for two (with Social Security): $21,230
15-year cost of retirement for two (with Social Security): $318,444

32. Estero, Florida

Population 65+ (%): 50.7%
Total annual cost of living for one (with Social Security): $44,458
15-year cost of retirement for one (with Social Security): $666,868
Total annual cost of living for two (with Social Security): $33,077
15-year cost of retirement for two (with Social Security): $496,159

33. Daytona Beach Shores, Florida

Population 65+ (%): 49.5%
Total annual cost of living for one (with Social Security): $27,635
15-year cost of retirement for one (with Social Security): $414,524
Total annual cost of living for two (with Social Security): $16,254
15-year cost of retirement for two (with Social Security): $243,815

34. Wickenburg, Arizona

Population 65+ (%): 49.5%
Total annual cost of living for one (with Social Security): $38,065
15-year cost of retirement for one (with Social Security): $570,975
Total annual cost of living for two (with Social Security): $26,684
15-year cost of retirement for two (with Social Security): $400,267

35. Osprey, Florida

Population 65+ (%): 48.6%
Total annual cost of living for one (with Social Security): $53,287
15-year cost of retirement for one (with Social Security): $799,310
Total annual cost of living for two (with Social Security): $41,907
15-year cost of retirement for two (with Social Security): $628,602

36. Hudson, Florida

Population 65+ (%): 48.1%
Total annual cost of living for one (with Social Security): $22,538
15-year cost of retirement for one (with Social Security): $338,068
Total annual cost of living for two (with Social Security): $11,157
15-year cost of retirement for two (with Social Security): $167,360

Today’s Top Offers

37. Carefree, Arizona

Population 65+ (%): 48%
Total annual cost of living for one (with Social Security): $94,434
15-year cost of retirement for one (with Social Security): $1,416,504
Total annual cost of living for two (with Social Security): $83,053
15-year cost of retirement for two (with Social Security): $1,245,795

38. North Fort Myers, Florida

Population 65+ (%): 47.2%
Total annual cost of living for one (with Social Security): $24,165
15-year cost of retirement for one (with Social Security): $362,471
Total annual cost of living for two (with Social Security): $12,784
15-year cost of retirement for two (with Social Security): $191,763

39. Redington Shores, Florida

Population 65+ (%): 46.1%
Total annual cost of living for one (with Social Security): $56,441
15-year cost of retirement for one (with Social Security): $846,611
Total annual cost of living for two (with Social Security): $45,060
15-year cost of retirement for two (with Social Security): $675,903

40. Crystal River, Florida

Population 65+ (%): 46.1%
Total annual cost of living for one (with Social Security): $19,191
15-year cost of retirement for one (with Social Security): $287,866
Total annual cost of living for two (with Social Security): $7,810
15-year cost of retirement for two (with Social Security): $$117,157

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 study, GOBankingRates analyzed cities in Arizona and Florida to find the savings needed for retirement in the top retirement hubs. Using the US Census’s 2023 5-year American Community Survey, the total population, population ages 65 and over, total households and household median income were sourced. Cities with at least 1,000 population and a percent of the population ages 65 and over of at least 30% were selected. 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 indexes and the national average expenditure costs for households with residents ages 65 and over, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for households with residents ages 65 and over, the average expenditure cost for each location can be calculated. The average single-family home value was sourced from Zillow Home Value Index for March 2025. Using the average single family 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 can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The average Social Security income for one person and a married couple was sourced from the Social Security Administration and used to calculate the annual cost of retirement for those different scenarios. Assuming a person retires at 65 and lives to 80, a 15-year retirement window is used to calculate the cost of retirement. Using the annual cost of retirement and the Social Security income, the cost of retirement without Social Security, with Social Security for one person, and with Social Security for a married couple can be calculated for 15 years. The cities were sorted to show the highest concentration of people ages 65 and over. All data was collected on and is up to date as of May 8th, 2025.

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