Get All Access for $5/mo

These Are the Best Places for a Middle-Class Retirement That Won't Break the Bank, According to New Research About half of U.S. adults live in middle-income households. Here's where they should consider spending their golden years.

By Amanda Breen Edited by Jessica Thomas

Key Takeaways

  • Two in five U.S. seniors say they'll "never" move out of their house.
  • Retirees who do want to relocate must consider cost of living, among other factors.

Two in five U.S. seniors say they'll "never" move out of their house, according to a survey conducted by OnePoll on behalf of ClearMatchMedicare, per Talker.

However, Americans who are open to relocating in retirement have several factors to consider — and one of the most important is cost of living.

Although many dream of a luxurious, carefree retirement, the majority of Americans face a different reality. The typical worker believes they'll need $1.46 million to retire comfortably, but the average retirement account balance sits at just $88,400, per a Northwestern Mutual study.

Related: Retirees Are Raking in Billions With These 4 Side Hustles: 'There's No Age Limit to Innovation'

About half of U.S. adults (52%) lived in middle-income households in 2022, according to a Pew Research Center Analysis of the most recent available government data. Those approaching retirement age might wonder where their savings will stretch the furthest.

A new study from GOBankingRates set out to determine the top 30 best towns for middle-class retirement.

The research drew from U.S. Census and Federal Reserve data and analyzed cities across the country with a minimum population of 10,000 residents and at least 25% of that population aged 65 and over. Then, GOBankingRates factored in data including household median income, average home value, total annual cost of living and the average social security benefits.

Related: These Are the 5 Most Desirable Retirement Locations — But Most Retirees Can't Afford Them, New Data Reveals

Perhaps not surprisingly, the No. 1 spot went to a city in Florida: The Villages, which boasts a household median income of $73,415 and an annual cost of living of $48,808.

Two cities in Arizona followed — Green Valley City, with a household median income of $57,785 and an annual cost of living of $41,989 and Sun City West, with a household median income of $61,941 and an annual cost of living of $48,781.

Related: Younger Americans Don't Necessarily Want to Retire in Florida — and the 2 Affordable States at the Top of Their List Might Surprise You

See the full list of the best 30 places for a middle-class retirement, according to GoBankingRates' data, below:

1. The Villages, Florida

  • Household median income: $73,415
  • Single-family home average value: $408,342
  • Annual cost of living: $48,808
  • Average Social Security Benefits: $30,704

2. Green Valley City, Arizona

  • Household median income: $57,785
  • Single-family home average value: $321,915
  • Annual cost of living: $41,989
  • Average Social Security Benefits: $27,102

3. Sun City West, Arizona

  • Household median income: $61,941
  • Single-family home average value: $398,930
  • Annual cost of living: $48,781
  • Average Social Security Benefits: $28,190

4. Hot Springs Village, Arkansas

  • Household median income: $68,580
  • Single-family home average value: $305,455
  • Annual cost of living: $41,487
  • Average Social Security Benefits: $28,754

5. Venice, Florida

  • Household median income: $68,843
  • Single-family home average value: $466,895
  • Annual cost of living: $53,436
  • Average Social Security Benefits: $27,226

6. Sun City, Arizona

  • Household median income: $51,263
  • Single-family home average value: $329,036
  • Annual cost of living: $44,204
  • Average Social Security Benefits: $25,346

7. Sun City Center, Florida

  • Household median income: $64,661
  • Single-family home average value: $341,594
  • Annual cost of living: $45,845
  • Average Social Security Benefits: $26,759

8. Punta Gorda, Florida

  • Household median income: $75,898
  • Single-family home average value: $419,564
  • Annual cost of living: $49,123
  • Average Social Security Benefits: $28,854

9. Mesquite, Nevada

  • Household median income: $69,146
  • Single-family home average value: $406,306
  • Annual cost of living: $48,562
  • Average Social Security Benefits: $26,855

10. Englewood, Florida

  • Household median income: $61,734
  • Single-family home average value: $382,567
  • Annual cost of living: $47,686
  • Average Social Security Benefits: $25,610

11. Murrells Inlet, South Carolina

  • Household median income: $71,019
  • Single-family home average value: $438,475
  • Annual cost of living: $49,996
  • Average Social Security Benefits: $26,060

12. Pinehurst, North Carolina

  • Household median income: $102,917
  • Single-family home average value: $542,557
  • Annual cost of living: $57,335
  • Average Social Security Benefits: $28,853

13. Oro Valley, Arizona

  • Household median income: $101,394
  • Single-family home average value: $525,380
  • Annual cost of living: $56,423
  • Average Social Security Benefits: $29,587

14. Wildwood, Florida

  • Household median income: $68,121
  • Single-family home average value: $319,201
  • Annual cost of living: $42,621
  • Average Social Security Benefits: $28,259

15. Sebastian, Florida

  • Household median income: $65,650
  • Single-family home average value: $362,710
  • Annual cost of living: $46,421
  • Average Social Security Benefits: $23,019

16. Naples, Florida

  • Household median income: $135,657
  • Single-family home average value: $713,541
  • Annual cost of living: $69,932
  • Average Social Security Benefits: $30,538

17. Middleburg Heights, Ohio

  • Household median income: $74,109
  • Single-family home average value: $279,112
  • Annual cost of living: $38,585
  • Average Social Security Benefits: $23,154

18. Seven Hills, Ohio

  • Household median income: $91,975
  • Single-family home average value: $282,436
  • Annual cost of living: $39,049
  • Average Social Security Benefits: $24,539

19. Lady Lake, Florida

  • Household median income: $46,694
  • Single-family home average value: $328,600
  • Annual cost of living: $44,328
  • Average Social Security Benefits: $25,143

20. Centerville, Ohio

  • Household median income: $79,509
  • Single-family home average value: $329,817
  • Annual cost of living: $42,813
  • Average Social Security Benefits: $25,906

21. North Myrtle Beach, South Carolina

  • Household median income: $69,792
  • Single-family home average value: $506,656
  • Annual cost of living: $54,861
  • Average Social Security Benefits: $27,638

22. Gold Canyon, Arizona

  • Household median income: $83,654
  • Single-family home average value: $493,623
  • Annual cost of living: $55,036
  • Average Social Security Benefits: $32,475

23. Tavares, Florida

  • Household median income: $54,271
  • Single-family home average value: $328,077
  • Annual cost of living: $44,351
  • Average Social Security Benefits: $23,898

24. Kerrville, Texas

  • Household median income: $58,797
  • Single-family home average value: $354,444
  • Annual cost of living: $44,075
  • Average Social Security Benefits: $21,751

25. Pahrump, Nevada

  • Household median income: $54,988
  • Single-family home average value: $350,128
  • Annual cost of living: $44,349
  • Average Social Security Benefits: $23,592

26. Mountain Home, Arkansas

  • Household median income: $42,281
  • Single-family home average value: $224,906
  • Annual cost of living: $34,449
  • Average Social Security Benefits: $23,209

27. Greenville, Ohio

  • Household median income: $45,746
  • Single-family home average value: $159,902
  • Annual cost of living: $159,902
  • Average Social Security Benefits: $19,574

28. Lyndhurst, Ohio

  • Household median income: $84,697
  • Single-family home average value: $225,429
  • Annual cost of living: $35,093
  • Average Social Security Benefits: $22,809

29. Hermitage, Pennsylvania

  • Household median income: $66,922
  • Single-family home average value: $210,762
  • Annual cost of living: $34,178
  • Average Social Security Benefits: $24,091

30. Ormond Beach, Florida

  • Household median income: $65,238
  • Single-family home average value: $399,777
  • Annual cost of living: $48,401
  • Average Social Security Benefits: $22,946
Amanda Breen

Entrepreneur Staff

Senior Features Writer

Amanda Breen is a senior features writer at Entrepreneur.com. She is a graduate of Barnard College and received an MFA in writing at Columbia University, where she was a news fellow for the School of the Arts.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Science & Technology

5 Automation Strategies Every Small Business Should Follow

It's time we make IT automation work for us: streamline processes, boost efficiency and drive growth with the right tools and strategy.

Business News

Former Steve Jobs Intern Says This Is How He Would Have Approached AI

The former intern is now the CEO of AI and data company DataStax.

Side Hustle

'Hustling Every Day': These Friends Started a Side Hustle With $2,500 Each — It 'Snowballed' to Over $500,000 and Became a Multimillion-Dollar Brand

Paris Emily Nicholson and Saskia Teje Jenkins had a 2020 brainstorm session that led to a lucrative business.

Business Process

How CEOs Can Take Control of Their Emails and Achieve Inbox Zero

Although there are many methodologies that leaders can use to manage their emails effectively, a consistent and thought-through process is the most effective way to systemize and respond to emails and is a step of stewardship for the effective leader.

Leadership

Visionaries or Vague Promises? Why Companies Fail Without Leaders Who See Beyond the Bottom Line

Visionary leaders turn bold ideas into lasting impact by building resilience, clarity and future-ready teams.

Marketing

5 Critical Mistakes to Avoid When Giving a Presentation

Are you tired of enduring dull presentations? Over the years, I have compiled a list of common presentation mistakes and how to avoid them. Here are my top five tips.