What a Comfortable Retirement Will Cost You in 61 of the Largest US Cities

There are a few reasons why planning for a comfortable retirement has become extra difficult in recent years, among them the wide shift away from pension plans and the rising cost of living. Because of persistent hurdles, many working Americans aren’t feeling so confident about the prospect of retirement. According to a 2023 Gallup poll, non-retired Americans’ expectations for a comfortable retirement were the most pessimistic they had been since 2012, dropping 10 percentage points since 2021.

Rather than feel negative about your eventual retirement, you might want to take a proactive and aggressive approach. To best plan for a comfortable retirement, you need to consider not only how you will live in retirement, but where you will live. Note that every big city differs to some degree, in terms of cost of living expenses.

GOBankingRates conducted research to determine how much you’ll need for a comfortable retirement in 61 of the largest cities in the U.S. To accomplish this, GOBankingRates found the most populated 100 cities, as sourced from the U.S. Census American Community Survey. For each city, we factored in a number of data points, including the population aged 65 and over, average household retirement income, cost of living, livability index and the average rental cost. The cost of living indexes were multiplied by the national average expenditure costs for retired residents to find the average expenditure cost for each city, then the average rental cost was added to the average expenditure cost to find the total cost of living for each city.

Only cities with a livability index of 75 and over were considered. Cities are ranked here from least to most expensive, according to the annual cost of living.

• Percentage of population aged 65 and over: 14.7% 
• Household average retirement income: $23,152  
• Livability index: 83 
• Average monthly expenditures cost: $1,738  
• Average rent cost: $1,174  
• Total cost of living monthly: $2,912  

Total cost of living annually: $34,940

• Percentage of population aged 65 and over: 13.1% 
• Household average retirement income: $30,088  
• Livability index: 81 
• Average monthly expenditures cost: $1,850  
• Average rent cost: $1,261  
• Total cost of living monthly: $3,111  

Total cost of living annually: $37,328

• Percentage of population aged 65 and over: 14.2% 
• Household average retirement income: $38,804  
• Livability index: 86 
• Average monthly expenditures cost: $1,779 
• Average rent cost: $1,360  
• Total cost of living monthly: $3,139  

Total cost of living annually: $37,668  

• Percentage of population aged 65 and over: 11.3% 
• Household average retirement income: $28,253  
• Livability index: 78 
• Average monthly expenditures cost: $1,863 
• Average rent cost: $1,294 
• Total cost of living monthly: $3,157  

Total cost of living annually: $37,883

• Percentage of population aged 65 and over: 12.8% 
• Household average retirement income: $27,344  
• Livability index: 77  
• Average monthly expenditures cost: $1,803 
• Average rent cost: $1,376  
• Total cost of living monthly: $3,179  

Total cost of living annually: $38,154

• Percentage of population aged 65 and over: 13.9% 
• Household average retirement income: $28,311  
• Livability index: 77  
• Average monthly expenditures cost: $1,827 
• Average rent cost: $1,361  
• Total cost of living monthly: $3,188  

Total cost of living annually: $38,250

• Percentage of population aged 65 and over: 12.8% 
• Household average retirement income: $33,391  
• Livability index: 80 
• Average monthly expenditures cost:  $1,790 
• Average rent cost: $1,417  
• Total cost of living monthly: $3,208 

Total cost of living annually: $38,493

• Percentage of population aged 65 and over:12.9% 
• Household average retirement income: $38,980 
• Livability index: 80 
• Average monthly expenditures cost: $1,805  
• Average rent cost: $1,415  
• Total cost of living monthly: $3,219  

Total cost of living annually: $38,630

• Percentage of population aged 65 and over: 14.5% 
• Household average retirement income: $32,766 
• Livability index: 80 
• Average monthly expenditures cost: $1,830  
• Average rent cost: $1,404  
• Total cost of living monthly: $3,233  

Total cost of living annually: $38,802

• Percentage of population aged 65 and over: 13.5% 
• Household average retirement income: $30,891  
• Livability index: 81 
• Average monthly expenditures cost: $1,716  
• Average rent cost: $1,521  
• Total cost of living monthly: $3,237  

Total cost of living annually: $38,840

• Percentage of population aged 65 and over: 10.7% 
• Household average retirement income: $35,257  
• Livability index: 79
• Average monthly expenditures cost: $1,821 
• Average rent cost: $1,422  
• Total cost of living monthly: $3,243 

Total cost of living annually: $38,913

• Percentage of population aged 65 and over: 13.6% 
• Household average retirement income: $34,578  
• Livability index: 83 
• Average monthly expenditures cost: $1,813 
• Average rent cost: $1,452  
• Total cost of living monthly: $3,265  

Total cost of living annually: $39,179

• Percentage of population aged 65 and over: 16.2% 
• Household average retirement income: $28,416  
• Livability index: 80 
• Average monthly expenditures cost: $1,792  
• Average rent cost: $1,482 
• Total cost of living monthly: $3,273  

Total cost of living annually: $39,282

• Percentage of population aged 65 and over: 12.3% 
• Household average retirement income: $31,083  
• Livability index: 78
• Average monthly expenditures cost: $1,906  
• Average rent cost: $1,381 
• Total cost of living monthly: $3,287 

Total cost of living annually: $39,449

• Percentage of population aged 65 and over: 13.4% 
• Household average retirement income: $27,361  
• Livability index: 78 
• Average monthly expenditures cost: $2,025  
• Average rent cost: $1,312 
• Total cost of living monthly: $3,337  

Total cost of living annually: $40,048

• Percentage of population aged 65 and over: 15.1% 
• Household average retirement income: $28,958  
• Livability index: 82 
• Average monthly expenditures cost: $1,896  
• Average rent cost: $1,460  
• Total cost of living monthly: $3,356  

Total cost of living annually: $40,269

• Percentage of population aged 65 and over: 13.8%
• Household average retirement income: $28,718 
• Livability index: 82 
• Average monthly expenditures cost: $2,053  
• Average rent cost: $1,315  
• Total cost of living monthly: $3,368 

Total cost of living annually: $40,413

• Percentage of population aged 65 and over: 12.3%
• Household average retirement income: $28,618  
• Livability index: 81 
• Average monthly expenditures cost: $1,904  
• Average rent cost: $1,542  
• Total cost of living monthly: $3,446 

Total cost of living annually: $41,353

• Percentage of population aged 65 and over: 14.0% 
• Household average retirement income: $33,200  
• Livability index: 83 
• Average monthly expenditures cost: $2,173  
• Average rent cost: $1,301  
• Total cost of living monthly: $3,474  

Total cost of living annually: $41,687 

• Percentage of population aged 65 and over: 14.8%
• Household average retirement income: $29,136  
• Livability index: 77 
• Average monthly expenditures cost: $1,807  
• Average rent cost: $1,687  
• Total cost of living monthly: $3,493  

Total cost of living annually: $41,921

• Percentage of population aged 65 and over: 14.4% 
• Household average retirement income: $30,927  
• Livability index: 84 
• Average monthly expenditures cost: $1,876  
• Average rent cost: $1,627  
• Total cost of living monthly: $3,503  

Total cost of living annually: $42,038 

• Percentage of population aged 65 and over: 11.1% 
• Household average retirement income: $36,492 
• Livability index: 78
• Average monthly expenditures cost: $1,883  
• Average rent cost: $1,621  
• Total cost of living monthly: $3,504  

Total cost of living annually: $42,052

• Percentage of population aged 65 and over: 12.8% 
• Household average retirement income: $44,736  
• Livability index: 82 
• Average monthly expenditures cost: $1,967  
• Average rent cost: $1,548 
• Total cost of living monthly: $3,516  

Total cost of living annually: $42,190

• Percentage of population aged 65 and over:16.9% 
• Household average retirement income: $31,657  
• Livability index: 82
• Average monthly expenditures cost: $1,833  
• Average rent cost: $1,689  
• Total cost of living monthly: $3,523  

Total cost of living annually: $42,271

• Percentage of population aged 65 and over: 10.7% 
• Household average retirement income: $37,496  
• Livability index: 78 
• Average monthly expenditures cost: $1,895  
• Average rent cost: $1,628  
• Total cost of living monthly: $3,523  

Total cost of living annually: $42,278

• Percentage of population aged 65 and over: 8.3% 
• Household average retirement income: $30,168  
• Livability index: 78 
• Average monthly expenditures cost: $1,877  
• Average rent cost: $1,657  
• Total cost of living monthly: $3,534  

Total cost of living annually: $42,408

• Percentage of population aged 65 and over: 13.8% 
• Household average retirement income: $34,390 
• Livability index: 84 
• Average monthly expenditures cost: $1,984  
• Average rent cost: $1,553  
• Total cost of living monthly: $3,536  

Total cost of living annually: $42,435

• Percentage of population aged 65 and over: 11.4%
• Household average retirement income: $36,179  
• Livability index: 84
• Average monthly expenditures cost: $1,870  
• Average rent cost: $1,669  
• Total cost of living monthly: $3,539  

Total cost of living annually: $42,463

• Percentage of population aged 65 and over: 11.0% 
• Household average retirement income: $36,043  
• Livability index: 81 
• Average monthly expenditures cost: $1,876  
• Average rent cost: $1,710  
• Total cost of living monthly: $3,586  

Total cost of living annually: $43,028

• Percentage of population aged 65 and over: 10.1% 
• Household average retirement income: $34,435  
• Livability index: 80
• Average monthly expenditures cost: $1,886  
• Average rent cost: $1,700  
• Total cost of living monthly: $3,586 

Total cost of living annually: $43,028

• Percentage of population aged 65 and over: 12.8% 
• Household average retirement income: $29,223  
• Livability index: 78 
• Average monthly expenditures cost: $1,839  
• Average rent cost: $1,749  
• Total cost of living monthly: $3,588  

Total cost of living annually: $43,059

• Percentage of population aged 65 and over: 12.7% 
• Household average retirement income: $33,693 
• Livability index: 82 
• Average monthly expenditures cost: $1,879 
• Average rent cost: $1,713  
• Total cost of living monthly: $3,592  

Total cost of living annually: $43,104

• Percentage of population aged 65 and over: 15.3% 
• Household average retirement income: $35,289  
• Livability index: 82
• Average monthly expenditures cost: $1,881  
• Average rent cost: $1,732  
• Total cost of living monthly: $3,614  

Total cost of living annually: $43,366

• Percentage of population aged 65 and over: 10.7% 
• Household average retirement income: $33,845  
• Livability index: 80 
• Average monthly expenditures cost: $1,862  
• Average rent cost: $1,762  
• Total cost of living monthly: $3,624  

Total cost of living annually: $43,492

• Percentage of population aged 65 and over: 9.8% 
• Household average retirement income: $42,283  
• Livability index: 83 
• Average monthly expenditures cost: $1,898  
• Average rent cost: $1,730  
• Total cost of living monthly: $3,629  

Total cost of living annually: $43,545

• Percentage of population aged 65 and over: 13.7% 
• Household average retirement income: $38,150   
• Livability index: 83 
• Average monthly expenditures cost: $1,898  
• Average rent cost: $1,738  
• Total cost of living monthly: $3,636  

Total cost of living annually: $43,638

• Percentage of population aged 65 and over: 14.3%
• Household average retirement income: $41,394  
• Livability index: 80
• Average monthly expenditures cost: $1,855  
• Average rent cost: $1,809 
• Total cost of living monthly: $3,664  

Total cost of living annually: $43,969

• Percentage of population aged 65 and over: 14.0% 
• Household average retirement income: $38,251  
• Livability index: 78 
• Average monthly expenditures cost: $1,926  
• Average rent cost: $1,746  
• Total cost of living monthly: $3,671 

Total cost of living annually: $44,057

• Percentage of population aged 65 and over:14.0% 
• Household average retirement income: $27,882  
• Livability index: 76
• Average monthly expenditures cost: $1,952  
• Average rent cost: $1,726  
• Total cost of living monthly: $3,678  

Total cost of living annually: $44,136 

• Percentage of population aged 65 and over:15.8% 
• Household average retirement income: $40,641  
• Livability index: 80 
• Average monthly expenditures cost: $1,849  
• Average rent cost: $1,869  
• Total cost of living monthly: $3,718  

Total cost of living annually: $44,621

• Percentage of population aged 65 and over: 11.5% 
• Household average retirement income: $33,425  
• Livability index: 76 
• Average monthly expenditures cost: $1,883  
• Average rent cost: $1,859  
• Total cost of living monthly: $3,743  

Total cost of living annually: $44,911

• Percentage of population aged 65 and over: 12.6% 
• Household average retirement income: $28,655  
• Livability index: 78 
• Average monthly expenditures cost: $1,865  
• Average rent cost: $1,887  
• Total cost of living monthly: $3,753  

Total cost of living annually: $45,032

• Percentage of population aged 65 and over: 12.5% 
• Household average retirement income: $33,372  
• Livability index: 77
• Average monthly expenditures cost: $1,845  
• Average rent cost: $1,944  
• Total cost of living monthly: $3,790  

Total cost of living annually: $45,476 

• Percentage of population aged 65 and over: 12.0% 
• Household average retirement income: $42,380  
• Livability index: 78 
• Average monthly expenditures cost: $1,884  
• Average rent cost: $1,939  
• Total cost of living monthly: $3,823  

Total cost of living annually: $45,873

• Percentage of population aged 65 and over: 12.0% 
• Household average retirement income: $52,406  
• Livability index: 77 
• Average monthly expenditures cost: $2,303  
• Average rent cost: $1,552  
• Total cost of living monthly: $3,854  

Total cost of living annually: $46,254

• Percentage of population aged 65 and over: 10.8% 
• Household average retirement income: $28,686  
• Livability index: 81 
• Average monthly expenditures cost: $1,924  
• Average rent cost: $1,974  
• Total cost of living monthly: $3,898  

Total cost of living annually: $46,773

• Percentage of population aged 65 and over:15.0% 
• Household average retirement income: $41,131  
• Livability index: 83 
• Average monthly expenditures cost: $2,050  
• Average rent cost: $1,874  
• Total cost of living monthly: $3,923  

Total cost of living annually: $47,079

• Percentage of population aged 65 and over: 11.9%
• Household average retirement income: $34,682   
• Livability index: 76 
• Average monthly expenditures cost: $1,981  
• Average rent cost: $1,946  
• Total cost of living monthly: $3,927  

Total cost of living annually: $47,129 

• Percentage of population aged 65 and over: 10.2% 
• Household average retirement income: $34,627  
• Livability index: 89
• Average monthly expenditures cost: $1,844  
• Average rent cost: $2,170  
• Total cost of living monthly: $4,015  

Total cost of living annually: $48,179

• Percentage of population aged 65 and over: 13.3% 
• Household average retirement income: $38,501  
• Livability index: 78 
• Average monthly expenditures cost: $1,911  
• Average rent cost: $2,126  
• Total cost of living monthly: $4,037  

Total cost of living annually: $48,446

• Percentage of population aged 65 and over: 13.0% 
• Household average retirement income: $35,075  
• Livability index: 80
• Average monthly expenditures cost: $1,892  
• Average rent cost: $2,167  
• Total cost of living monthly: $4,059  

Total cost of living annually: $48,707

• Percentage of population aged 65 and over: 25.1% 
• Household average retirement income: $45,771  
• Livability index: 77
• Average monthly expenditures cost: $1,868  
• Average rent cost: $2,195  
• Total cost of living monthly: $4,063  

Total cost of living annually: $48,760

• Percentage of population aged 65 and over: 13.8% 
• Household average retirement income: $46,344  
• Livability index: 76 
• Average monthly expenditures cost: $2,033  
• Average rent cost: $2,089  
• Total cost of living monthly: $4,122  

Total cost of living annually: $49,464

• Percentage of population aged 65 and over: 11.3% 
• Household average retirement income: $68,180  
• Livability index: 86 
• Average monthly expenditures cost: $2,153  
• Average rent cost: $2,502  
• Total cost of living monthly: $4,656  

Total cost of living annually: $55,866

• Percentage of population aged 65 and over: 12.2% 
• Household average retirement income: $43,493  
• Livability index: 77 
• Average monthly expenditures cost: $2,088  
• Average rent cost: $2,933  
• Total cost of living monthly: $5,021  

Total cost of living annually: $60,250 

• Percentage of population aged 65 and over: 16.3%
• Household average retirement income: $53,788  
• Livability index: 81
• Average monthly expenditures cost: $1,914  
• Average rent cost: $3,125  
• Total cost of living monthly: $5,039  

Total cost of living annually: $60,469

• Percentage of population aged 65 and over: 11.3% 
• Household average retirement income: $27,085  
• Livability index: 77 
• Average monthly expenditures cost: $2,012  
• Average rent cost: $3,042  
• Total cost of living monthly: $5,054  

Total cost of living annually: $60,648

• Percentage of population aged 65 and over: 13.0% 
• Household average retirement income: $46,263  
• Livability index: 83
• Average monthly expenditures cost: $2,148  
• Average rent cost: $3,007  
• Total cost of living monthly: $5,154  

Total cost of living annually: $61,854

• Percentage of population aged 65 and over: 13.7% 
• Household average retirement income: $42,727  
• Livability index: 81 
• Average monthly expenditures cost: $2,272  
• Average rent cost: $3,142  
• Total cost of living monthly: $5,414  

Total cost of living annually: $64,965

• Percentage of population aged 65 and over: 12.3% 
• Household average retirement income: $41,437  
• Livability index: 77
• Average monthly expenditures cost: $2,169  
• Average rent cost: $3,277  
• Total cost of living monthly: $5,447  

Total cost of living annually: $65,360

• Percentage of population aged 65 and over: 15.5%
• Household average retirement income: $34,875  
• Livability index: 76 
• Average monthly expenditures cost: $2,477  
• Average rent cost: $3,462  
• Total cost of living monthly: $5,939  

Total cost of living annually: $71,268 

Methodology: For this study, GOBankingRates analyzed major cities across the United States to find the cost of a comfortable retirement. First, GOBankingRates found the most populated 100 cities as sourced from the U.S. Census American Community Survey. For each city, a number of factors were found, including: total population, population aged 65 and over, total households, percent households with retirement income, and average household retirement income, all sourced from the U.S. Census American Community Survey; the cost of living indexes, as sourced from Sperlings BestPlaces; livability index, as sourced from AreaVibes; and the average rental cost, as sourced from the Zillow Observed Rental Index. The cost of living indexes were multiplied by the national average expenditure costs for retired residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for retired residents, to find the average expenditure cost for each city. The average rental cost was added to the average expenditure cost to find the total cost of living for each city. The cities with a livability of 75 and below were removed for this study. The cities were sorted to show the highest to lowest total cost of living, representing the highest to lowest cost for a comfortable retirement. All data was collected on and is up to date as of May 16, 2024.