When it comes to retirement, there are numerous financial factors to consider, and deciding where to live can be particularly daunting. For those who haven’t saved a significant amount for retirement, the cost of living is a crucial element that could influence the decision to even retire.
To provide some insights, US News & World Report recently evaluated over 850 cities, looking at aspects like quality of life, affordability, healthcare, and retirement taxes among other factors to determine the best locations for individuals aged 55 and older.
This year, affordability played a major role in the rankings, reflecting the reality that comfortable retirement isn’t a given for everyone. “Affordability has been a major concern for Americans this year,” noted Megan Wood, assistant managing editor at US News. “That’s why we adjusted our criteria to better represent what retirees value.” The updated rankings for 2027 focus on metrics that showcase the most suitable places for retirees.
The ranking system was created based on a survey targeting Americans aged 45 and above, aiming to understand their preferences when choosing a retirement destination.
Interestingly, the idea of retiring in Florida still holds weight, with two cities from the state making it into the top 15. However, Texas appears to be increasingly appealing for retirees. Last year, three Texas cities were featured in the rankings, but this year sees an increase to six, with two positioned within the top five.
The overall affordability of Texas continues to attract not only retirees but also younger generations seeking economically viable places to live.
“Retirees are on the lookout for locations that offer security and comfort as they enjoy their later years,” Wood added.
Even though Florida and Texas dominate more than half of the top 15 spots, neither state claims the number one position. Here are the best cities to consider for retirement in 2027:
