Sun Belt States Dominate Best Retirement Spots With Florida's The Villages Continuing To Top The List

Where to retire is a personal choice, but according to a recent study by GOBankingRates, The Villages in Florida stands out as a top destination for middle-class retirees. 

The 55-and-up community, located northwest of Orlando, was ranked the best place to retire in the United States.

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According to GOBankingRates, residents of The Villages have an annual median household income of $73,415, while the yearly cost of living is $48,808. The average value of a single-family home is $408,342 and the average Social Security benefits are $30,704.

Green Valley City and Sun City West in Arizona closely follow, claiming spots in the top three.

The annual cost of living in Green Valley City is $41,989 and residents have a median household income of $57,785. The average value of a single-family home is $321,915 and the average Social Security benefits are $27,102.

Sun City West has an annual cost of living of $48,781 and a median household income of $61,941. The average value of a single-family home is $398,930 and the average Social Security benefits are $28,190.

Arkansas' Hot Springs Village and Venice, Florida, south of Sarasota, round out the top five.

The median household income in Hot Springs Village, which has an annual cost of living of $41,487, is $68,580. The average value of a single-family home is $305,455 and average Social Security benefits are $28,754.

In Venice, the median household income is $68,843 and the annual cost of living is $53,436. The average value of a single-family home is $466,895 and the average Social Security benefits are $27,226.

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GOBankingRates analyzed American cities with a significant senior population – at least 25% of residents aged 65 and older. It evaluated factors such as Social Security benefits, cost of living, home values and median income.

From the 30 top-ranked retirement destinations for middle-class Americans, three states emerged as leaders: Florida with 11 cities, Arizona with five and Ohio with four.

"Florida is long established as a destination for retirees," GOBankingRates media outreach manager Ray Marek told DNBC. "The middle class has always flocked to Florida because of its affordability."

While living costs in Florida have increased, Marek said the state remains a popular retirement destination because of its affordability and high quality of life.

However, Greenville, Ohio, claims the title of the cheapest retirement spot on the list.

The city, with about 12,000 residents, ranked 27th overall in the study. Its cost of living is $30,173 annually and the median household income is $45,746.

While Greenville is budget-friendly, Sun City West stands out as a retirement home for seniors, with 86.5% of its residents aged 65 and older.

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