When Americans think about where to retire, they’re likely to think of Florida, as GOBankingRates’ June study of the nation’s fastest-growing retirement hotspots shows.
Four of the top ten retirement hot spots in the study are in Florida. The Sunshine State also holds 12 spots on the top 50 list.
To determine its ranking, GOBankingRates looked at every city in the U.S. that met the following criteria: At least 7,500 people over the age of 65 live in the area as of 2022, and the number of people over the age of 65 is 16.5% higher than the national average.
All data used in the study came from the 2022, 2021 and 2017 American Community Surveys conducted by the U.S. Census Bureau.
America’s No. 1 Retirement Hotspot: Goodyear, Arizona.
Goodyear, Arizona is the fastest-growing retirement town in the U.S. Research finds Goodyear has:
- Five-year percentage increase in retirement age population aged 65 and over: 61%
- One-year growth rate of population over 65 years old: 11%
- Proportion of population over 65 years old in 2022: 18%
Goodyear, Arizona
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Goodyear is a suburb of Phoenix, only about 20 miles from downtown.
According to PayScale, the cost of living in Goodyear is 13% higher than the national average. Housing costs are 57% higher than the national average, while utility prices are 3% higher.
Transportation costs such as bus fares and gasoline prices are 7% higher than the national average.
The average home value in Goodyear is $485,052, up 2.6% over the past year. It is one of the fastest growing cities in the United States, according to the U.S. Census Bureau.
The city is named after the Goodyear Tire and Rubber Company, according to its website. Goodyear has more than 300 days of sunshine and is the spring training and player development base for Major League Baseball’s Cleveland Defenders and Cincinnati Reds.
Top 10 Retirement Hotspots in America
- Goodyear, Arizona.
- Sugar Land, Texas
- Clermont, Florida
- El Dorado Hills, California
- North Port, Florida
- Gallatin, Tennessee.
- fort myers florida
- Peoria, Arizona.
- longmont, colorado
- Vero Beach South, Florida
Sugar Land, Texas is the second-fastest-growing retirement hotspot in the United States, according to GoBankingRates.
Research has found that Sugar Land has:
- Five-year percentage increase in retirement age population aged 65 and over: 58%
- One-year growth rate of population over 65 years old: 9%
- Proportion of population over 65 years old in 2022: 18%
Sugar Land, Texas
Tungguyan | Stocks | Getty Images
Sugar Land is part of the Houston-The Woodlands-Sugar Land metropolitan area, approximately 19 miles from downtown Houston.
According to PayScale, the cost of living in Sugar Land is 21% higher than the national average. Housing costs in the city are 58% higher than the national average, while utility prices are 1% lower.
Transportation costs such as bus fares and gasoline prices are also 12% lower than the national average.
The average home price in Sugar Land is $454,245, up 4.9% over the past year.
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