It may not shock anyone paying attention to real estate prices that California dominates the list of most expensive retirement cities.
However, cost-conscious retirees might be taken aback by the number of cities in Florida that made the cut.
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A recent
"Florida has long been known for its affordability, but this analysis uncovers stark cost differences within the Sunshine State," said CJ Williamson, data content researcher at GOBankingRates. "Several of these have 2024 average home values above $600,000."
Florida's highest-ranked (most expensive for retirees) city on the list, Aventura, at number 12, has a 2024 average home value of nearly $850,000 and an annual grocery cost of $5,200, more than 8% higher than the national average.
"This goes to show that budget-minded retirees who have their heart set on Florida may want to take a hard look at what part of the state they want to live in, as some retirement communities are significantly more affordable than others," said Williamson.
Outside of Florida, just one other Southeastern retirement town made the list: Hilton Head, South Carolina.
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Unsurprisingly, six of the top 10 most expensive retirement cities are in California.
Noah Damsky, founder of
"While property taxes are reasonable here in California, the cost of real estate has jumped in Los Angeles and insurance has also increased dramatically," he said.
Still, Damsky said many retirees are flocking to this location in particular because of the weather, proximity to the beach, safety and the prospect of being able to purchase property than in other places in the region.
"More land means less dense neighborhoods and a quieter lifestyle," he said. "Rancho Palos Verdes lacks the same homelessness and crime concerns as greater Los Angeles, since it's up in the hills and somewhat remote. Overall, it's a great area to live in retirement or at any time of life. It's just expensive."
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Scroll down the slideshow to see the top 15 cities from this list.
Note: GOBankingRates ranked the best retirement spots by first isolating all U.S. cities with a total population greater than 25,000 and a retirement age population (age 65 and up) above 25%. "Key factors, including the average 2024 average home value and annual mortgage, were found for each city along with annual costs for groceries, health care and utilities," the study noted. "The annual expenditures for homeowners were also taken into consideration, as each city was ranked based on expenses for a homeowner."
