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Retirement

20 best cities for retirement

ByEBN Staff
November 26, 2024 5:30 AM
An elderly couple walk arm-in-arm past an outdoor cafe terrace in Edinburgh, U.K., on Wednesday, July 31, 2013. The latest opinion polls show supporters of Scottish First Minister Alex Salmond's campaign for independence lagging behind those in favor of the status quo by more than 20 percentage points ahead of the Sept.18, 2014, referendum. Photographer: Simon Dawson/Bloomberg
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As American workers save for retirement, they might want to consider living in a place where they can get the most out of their money.

WalletHub recently ranked the best cities for retirement by ranking factors including cost of living, tax laws, the availability of activities and the quality of healthcare to determine a total score.

Orlando, Florida, is ranked as the best city for retirement because it doesn't have estate and inheritance taxes. Orlando also ranks second-best for recreation, giving retirees a chance to participate in a plethora of activities.

Other top cities include Miami and Minneapolis. Miami is also tax-friendly and ranks at the top of the country when it comes to adult volunteer activities, art galleries and fishing facilities per capita. Minneapolis has a large percentage of jobs that are easy to perform even for elderly residents, for retirees who choose to continue to work for extra income or to fill their time.

Read more: 5 ways to support the retirement needs of all generations 

"It's important to choose wisely when picking where to retire, as many retirees are on a fixed income," Chip Lupo, WalletHub Analyst, said in a release. "As a result, the best cities for retired people are those that minimize taxes and expenses, as well as have good opportunities for retirees to continue paid work for extra income, if they choose to do so. In addition, the top cities provide high-quality healthcare and offer plenty of enjoyable activities for retirees."

Read more about the 20 best cities for retirement.

Best cities for retirees

Overall rank City Total score Affordability rank Activities rank Quality of life rank Health care rank
20 Cape Coral, FL 54.52 23 73 18 122
19 Sioux Falls, SD 54.80 34 151 61 3
17 Richmond, VA 55.02 68 35 118 17
17 Pembroke Pines, FL 55.02 58 91 17 54
16 Charleston, SC 55.70 42 25 66 111
15 Madison, WI 55.80 118 44 7 30
14 Denver, CO 55.96 91 8 99 57
13 Wilmington, DE 56.68 69 23 139 12
12 Pittsburgh, PA 57.01 121 24 44 7
11 Las Vegas, NV 57.33 15 5 111 149
10 Atlanta, GA 57.34 70 6 120 43
9 Casper, WY 57.63 3 72 29 88
8 St. Petersburg, FL 57.84 40 31 26 55
7 Cincinnati, OH 58.17 123 4 70 29
6 Scottsdale, AZ 59.32 110 21 3 31
5 Fort Lauderdale, FL 59.47 59 13 48 39
4 Tampa, FL 59.61 40 9 28 93
3 Minneapolis, MN 59.63 93 7 79 6
2 Miami, FL 61.47 56 2 89 27
1 Orlando, FL 61.49 9 16 74 35
Chart showing best cities for retirement, where Cape Coral, FL ranks 20th.
Cape Coral, Florida ranked 20th with a total score of 54.52.
Chart showing best cities for retirement, where Sioux Falls, SD ranks 19th.
Sioux Falls, South Dakota ranked 19th with a total score of 54.80.
Chart showing best cities for retirement, where Pembroke Pines, FL tied for 17th.
Pembroke Pines, Florida tied for 17th with a total score of 55.02.
Chart showing best cities for retirement, where Richmond, VA tied for 17th.
Richmond, Virginia tied for 17th with a total score of 55.02.
Chart showing best cities for retirement, where Charleston, South Carolina ranked 16th.
Charleston, South Carolina ranked 16th with a total score of 55.70.
Chart showing best cities for retirement, where Madison, Wisconsin ranked 15th.
Madison, Wisconsin ranked 15th with a total score of 55.80.
Chart showing best cities for retirement, where Denver, Colorado ranked 14th.
Denver, Colorado ranked 14th with a total score of 55.96.
Chart showing best cities for retirement, where Wilmington, Delaware ranked 13th.
Wilmington, Delaware ranked 13th with a total score of 56.68.
Chart showing best cities for retirement, where Pittsburgh, Pennsylvania ranked 12th.
Pittsburgh, Pennsylvania ranked 12th with a total score of 57.01.
Chart showing best cities for retirement, where Las Vegas, Nevada ranked 11th.
Las Vegas, Nevada ranked 11th with a total score of 57.33.
Chart showing best cities for retirement, where Atlanta, GA ranked 10th.
Atlanta, Georgia ranked 10th with a total score of 57.34.
Chart showing best cities for retirement, where Casper, Wyoming ranked 9th.
Casper, Wyoming ranked 9th with a total score of 57.63.
Chart showing best cities for retirement, where St. Petersburg, FL ranked 8th.
St. Petersburg, Florida ranked 8th with a total score of 57.84.
Chart showing best cities for retirement, where Cincinnati, Ohio ranked 7th.
Cincinnati, Ohio ranked 7th with a total score of 58.17.
Chart showing best cities for retirement, where Scottsdale, Arizona ranked 6th.
Scottsdale, Arizona ranked 6th with a total score of 59.32.
Chart showing best cities for retirement, where Fort Lauderdale, Florida ranked 5th.
Fort Lauderdale, Florida ranked 5th with a total score of 59.47.
Chart showing best cities for retirement, where Tampa, Florida ranked 4th.
Tampa, Florida ranked 4th with a total score of 59.61.
Chart showing best cities for retirement, where Minneapolis, Minnesota ranked 3rd.
Minneapolis, Minnesota ranked 3rd with a total score of 59.63.
Chart showing best cities for retirement, where Miami, Florida ranked 2nd.
Miami, Florida ranked 2nd with a total score of 61.47.
Chart showing best cities for retirement, where Orlando, Florida ranked 1st.
Orlando, Florida ranked 1st with a total score of 61.49.
EBN Staff
Retirement
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