The Villages has been recognized as the top retirement destination for America’s middle class by the personal finance platform GOBankingRates. The analysis looked at U.S. cities with populations exceeding 10,000, where at least a quarter of the residents are aged 65 and above. Key factors included average Social Security payments, overall annual living expenses, typical home prices, and median household income.
Situated northwest of Orlando, Florida, The Villages emerged as the leader in this assessment. It features a median household income of $73,415, an annual cost of living estimated at $48,808, an average Social Security benefit totaling $30,704, and an average single-family home price around $400,000. Green Valley City and Sun City West in Arizona followed closely, securing the second and third positions, respectively.
Hot Springs Village in Arkansas and Venice, Florida, complete the top five locations.
Top towns for retirees
Among the 30 metropolitan areas identified as the best retirement locations for middle-class Americans, Florida led with 11 ranked towns, while Arizona contributed five and Ohio four.
Ray Marek, the media outreach manager for GOBankingRates, commented, “Florida has long been known as a retirement haven. The middle class has consistently been drawn to Florida for its affordability.”
Despite the rising cost of living in Florida in recent years, it remains a preferred choice for retirees looking for a balance of affordability and quality of life. Greenville, Ohio, with about 12,000 residents, is recognized as the most economical retirement destination on the list, coming in at 27th place overall.
Its annual living expenses are only $30,173, with a median household income of $45,746. Conversely, Sun City West in Arizona boasts the highest proportion of residents aged 65 and older, with 86.5% of its population in retirement age. This detailed analysis serves as a beneficial guide for individuals planning their retirement, showcasing alternatives that cater to different financial situations and lifestyle choices.
Approximately half of U.S. adults reside in middle-income households, and these insights can assist them in making informed choices about where to enjoy their retirement years.
