12 Best Cities for Retirement: 2024

Some two-thirds of Americans say they are somewhat confident that they will have enough money to retire comfortably, but only a fifth say that they are very confident, according to research cited in a new report from WalletHub, the personal finance website. As a result, more than half of people plan to retire when they are 65 or older, and three-quarters expect to do some work even after retiring. Where American workers, in particular those with concerns about their finances, decide to retire will have a big influence on how relaxing a retirement they can look forward to. In a recent CNBC survey, a third of retirees reported relocating to save money or to be near friends or family. "It's important to choose wisely when picking where to retire, as many retirees are on a fixed income, " WalletHub analyst Chip Lupo said in a statement. "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." Top cities also provide retirees high-quality health care and abundant enjoyable activities, Lupo said. To identify the best places for Americans to live during their post-work years, WalletHub compared the retirement friendliness of 182 U.S. cities — including the 150 most populated ones, plus at least two of the most populated cities in each state — across these key dimensions:

• Affordability, including adjusted cost of living, retired taxpayer friendliness and annual cost of in-home services
• Activities, including recreation and senior centers per capita; museums, theaters, art galleries and music venues per capita; and fishing facilities per capita
• Quality of life, including mild weather, share of population 65 and older, senior-friendly labor market and violent- and property-crime rates
• Health care, including gerontologists per 10,000 residents 65 and older, health care facilities per capita, physical therapists per 10,000 residents and life expectancy

Researchers evaluated these dimensions using 45 relevant metrics and graded each one on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement. They then determined each city's weighted average across all metrics to calculate its overall score. As cost is a significant factor in retirement, researchers assumed that retirees will rely on a fixed income: the lower their expenses, the better they will fare in a particular city. See the accompanying gallery for the 12 best cities for retirement in 2024, according to WalletHub.