The Changing Landscape of Retirement in America
As the population of retirees in the United States continues to grow, there is a noticeable shift in where people are choosing to settle down and enjoy their golden years. Some cities are experiencing an increase in older residents, while others are seeing a significant number of seniors move away. This trend has been highlighted by recent data analyses that focus on migration patterns among those aged 60 or older.
The analysis looked at the movement of individuals across the nation’s 164 largest cities and ranked them based on net migration. This metric considers the difference between the number of people who moved into a city versus those who left during a specific period. According to the findings, nearly 1 million people over the age of 60 relocated to a new state in 2023.
While Florida has long been considered the top destination for retirees, the latest trends show that cities in the Southwest are becoming increasingly popular. Here are some of the cities that have seen the largest influx of retirees:
- Mesa, Arizona: Net gain of 2,044 residents aged 60 or older
- North Las Vegas, Nevada: 1,420
- Paradise, Nevada: 1,416
- Oklahoma City, Oklahoma: 1,314
- Spring Valley, Nevada: 1,312
- Henderson, Nevada: 1,194
- Durham, North Carolina: 1,117
- Minneapolis, Minnesota: 1,054
- St. Petersburg, Florida: 981
- Scottsdale, Arizona: 904
- Eugene, Oregon: 829
- Winston-Salem, North Carolina: 746
- Meridian, Idaho: 681
- Pembroke Pines, Florida: 645
- Clarksville, Tennessee: 640
On the flip side, several major cities are losing retirees at a notable rate. These include:
- New York, New York: Net loss of 17,084 residents aged 60 or older
- Los Angeles, California: -3,187
- San Diego, California: -2,604
- District of Columbia: -2,434
- Denver, Colorado: -2,286
- Oakland, California: -2,016
- Arlington, Virginia: -1,703
- Chicago, Illinois: -1,699
- San Jose, California: -1,668
- Anchorage, Alaska: -1,413
It’s important to understand that larger cities naturally experience more movement due to their size. However, when considering the rate of loss relative to population, Ann Arbor, Michigan, stands out as having the highest rate of retirees leaving.
At the state level, California is losing the most retirees. This could be attributed to various factors such as cost of living, tax policies, and lifestyle preferences. Many retirees choose to relocate based on these considerations, seeking places that better align with their financial, tax, and personal needs.
For those interested in learning more about the top retirement destinations, there are resources available that provide detailed insights. Whether you’re looking to make a move or simply curious about the trends shaping the future of retirement, understanding these patterns can help guide your decisions.
If you’re looking for professional guidance, services like SmartAsset offer free tools to connect you with financial advisors. These professionals can assist with investment planning, tax strategies, Social Security optimization, and estate planning. With just a few minutes of your time, you can receive personalized advice tailored to your unique situation.
