Best Cities to Retire in the US: Study Names 25 Affordable Cities
A new study has named the top 25 US cities for retirement, based on affordability, quality of life and other key factors.
The Forbes Best Places to Retire in 2023 list published Friday named Pittsburgh, San Antonio, Indianapolis and Cincinnati as among the top retirement destinations on the unranked list.
All 25 cities on the list have median home prices below the national median, which is $376,000, according to the National Association of Realtors.
Augusta, Georgia, home of the Masters Tournament, had the lowest median home price on the list, at $173,000.
Meanwhile, Charlotte and Spokane, Washington, tied for the highest median home price on the list, squeaking just below the $375,000 national figure.
Ten cities from the Forbes Best Places to Retire In 2023 list with the lowest median home prices can be seen above, with the median home prices listed
Augusta, Georgia, home of the Masters Tournament, had the lowest median home price on the list, at $173,000
San Antonio, which was on the Forbes list for the fifth consecutive year, came in at $262,000.
The list “aims to identify the best choices in the U.S. for quality retirement at an affordable price,” wrote Forbes contributor William P. Barrett, who compared more than 800 places with more than 10,000 residents.
In addition to affordability, the list took into account a range of factors, including state taxes, crime rates, air quality, walkability, and the risk of natural disasters and the effects of climate change.
The list excludes any place that has received a ‘very high’ risk rating on the FEMA National Natural Hazard Risk Index.
That means much of hurricane-prone Florida, traditionally a favorite destination for retirees, is automatically excluded from the Forbes list.
This year, Jacksonville is the only Florida city to make the top 25, with a median home price of $295,000.
The Villages, a popular retirement community in central Florida, was on the list for the past two years, but fell back due to the rising cost of living, with the average home there now costing $416,000.
Despite above-average crime and cold winters, Pittsburgh made the list for the sixth year in a row, with an affordable median home price of $219,000
Despite the above-average crime rate and cold winters, Pittsburgh is on the list for the sixth year in a row and has been ranked 11 out of 13 years.
That’s due in part to Pittsburgh’s relative affordability, with a median home price of $219,000, which is 42 percent below the national median.
Georgia leads the states with three cities on this year’s list, while Arizona, Pennsylvania and Virginia each have two.
The northernmost city on the list, Fargo, North Dakota, is also the only city to appear in the Forbes ranking for 13 years since its inception.
| Median house price | |
|---|---|
| Athens, Georgia | $290,000 |
| Augusta, Georgia | $173,000 |
| Bethlehem, Pennsylvania | $298,000 |
| Charlotte, North Carolina | $375,000 |
| Cincinnati, Ohio | $223,000 |
| Columbia, Missouri | $277,000 |
| Fargo, North Dakota | $279,000 |
| Green Valley, Arizona | $291,000 |
| Greenville, South Carolina | $282,000 |
| Indianapolis, Indiana | $219,000 |
| Iowa City, Iowa | $275,000 |
| Jacksonville, Florida | $295,000 |
| Lawrence, Kansas | $284,000 |
| Lexington, Kentucky | $276,000 |
| Lincoln, Nebraska | $264,000 |
| Pittsburgh, Pennsylvania | $219,000 |
| Pittsfield, Massachusetts | $258,000 |
| Rochester, Minnesota | $309,000 |
| San Antonio, Texas | $262,000 |
| Savannah, Georgia | $275,000 |
| Sioux Falls, South Dakota | $316,000 |
| Spokane, Washington | $375,000 |
| Sun City, Arizona | $293,000 |
| Virginia Beach, Virginia | $371,000 |
| Winchester, Virginia | $348,000 |