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Common wisdom suggests that older Americans will retire to flock to sunny Florida and Arizona.
Financial experts are urging older people to consider cheaper retirement countries, such as Arkansas and Missouri.
But where do Americans actually retire? New research shows that it’s not where you think it is.
Wyoming, home to Grand Teton National Park, has acquired retirees at a faster pace than any other state in the past decade, according to a June analysis by online insurance agent Bizinsure.
South Carolina is second. Here’s the complete top 10:
- Wyoming
- South Carolina
- Idaho
- main
- New Mexico
- Connecticut
- Hawaii
- Mississippi
- Delaware
- Tennessee
Based on census data from 2013 to 2023, neither Arizona nor Florida are ranked as the states with the highest rates of senior citizens.
Retirees are looking beyond Florida and Arizona
The analysis and others suggest that older Americans look beyond traditional retirement mecca when they choose to move after quitting their jobs.
“That whole mindset has changed dramatically,” said Chipplepo, author and analyst at Wallethub, the site that ranks the best cities and states for retirement. “Generation ago you just went to Florida.”
According to a report from Bizinsure, today’s retirees are “moving to escape and chasing places better known for hiking trails than at night on the beach or Bunko.”
(I had to go to the dictionary for “Bunko” and it turns out to be a dice game.)
Their analysis concludes that today’s retirees want “less neighbors and more nature.” Some common retirement countries have populations and population density below the national average.
According to a report by Bizinsure, several classic retirees, including Florida, Arizona and Nevada, experienced negative retirement growth between 2013 and 2023.
But those states still have appeal. The analysis includes a list of 10 “best” retirement cities, taking into account the popularity of retirees, health services and affordable prices. Some top cities are in old-fashioned retirements.
Peoria, Arizona, a suburb of Phoenix, is the top of our list of best retired cities. Here’s the complete top 10:
- Peoria, Arizona
- North Las Vegas, Nevada
- Cape Coral, Florida
- Chandler, Arizona
- Henderson, Nevada
- Reno, Nevada
- Port St. Lucy, Florida
- Surprise, Arizona
- Mesa, Arizona
- Durham, North Carolina
Where will seniors retire: Second source
Of course, there are many ways to psychose by slicing data about retirement destinations.
The AARP performs a regular analysis of destinations for American retirees and is also based on census figures. Their report considers people moving to new states specifically for retirement.
The latest report released in March brings a ranking very different to the rankings mentioned above, which is also surprising.
According to AARP, the top retirement destination is Massachusetts, and most of us are not in states related to retirement. Florida is ranked second, more predictably.
Here’s the complete top 10:
- Massachusetts
- Florida
- Illinois
- Kentucky
- North Carolina
- Tennessee
- Delaware
- Vermont
- New Mexico
- Louisiana
Wallethub’s Lupo says he sees “beyond the weather” when retirees leave in another state, weighing factors such as health care quality and local cost of living.
“For some, it may be strictly affordable,” said Rudri Patel, senior financial expert at Gobankingrates. “For others it could be green space, weather, property taxes.”
Here are some other recent reports on the best and worst places to retire from Wallethub, Gobankingrates and other sources.
Where is the cheapest retirement country?
The cheapest retirement status in 2025 is West Virginia, the birthplace of Donnots and home to George Washington’s bathtubs.
According to Gobankingrates, a comfortable retirement in the Mountain State requires an estimated $712,913 and a savings of $50,954 on an annual budget.
Gobankingrates discovered by Gobankingrates costs over $1 million in 15 states. The most expensive state is Hawaii. You need to save $2.2 million for a comfortable retirement.
GobanKingrates used data from the Federal Bureau of Labor Statistics and local cost of living figures to calculate annual living expenses for retirees.
Is 1 million dollars hidden? Here are some popular retirement plans that cost less than Hawaii.
- Colorado: $981,803 to retire. $61,709 annual living expenses
- Florida: $977,296 to retire. Living costs of $61,529
- New Mexico: $834,590 to retire. Living costs of $55,821
Which country is your best retirement?
Wallethub has made rankings of the highest and worst states of recent years for retirement. Their analysis focuses on 46 indicators that “retirement is easy” from tax rates and cost of living to high-quality medical care.
Here are the top five Wallethub states that will retire in 2025:
- Florida
- Minnesota
- Colorado
- Wyoming
- South Dakota
Worst retirement situation? Kentucky, according to Wallethub. Yes, according to AARP, it’s Kentucky, the same one ranked fourth among retirement destinations.
And here are the top 5 cities on Wallethub for retirees:
- Orlando, Florida
- Miami
- Minneapolis
- Tampa, Florida
- Fort Lauderdale, Florida
What is the best state for seniors living alone?
According to the census, more than a quarter of seniors live alone. Living solos can present unique financial risks.
A recent report from the senior care platform Caring.com ranks the best state for over 65 Americans living alone. The report assigned scores to each state based on more than 12 factors, including cost of living and health care.
Three states in America Middle School, Arkansas, Missouri and Kansas, ranked No. 1, No. 2 and No. 3 in the CARING.com report..
Caring.com did not rank as a state that is at least desirable for seniors living alone, but the report includes heat maps that offer good ideas for states that cost-conscious seniors would want to avoid, including California and Massachusetts.
Yes, according to AARP, it is the same as Massachusetts, which ranks as the country’s best retirement destination.
