CSPhotoImages/Getty Images
Commitment to our readers
The GOBankingRates editorial team is committed to providing you with unbiased reviews and information. We use data-driven methods to evaluate financial products and services – our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our review methodology for products and services.
20 years
help you get rich
trusted by
millions of readers
According to an analysis shared by hire an assistant Earlier this year, an estimated 258,000 Americans moved to retire in 2024, which is 23.8% fewer than in 2023.
The study was based on the United States Census Bureau’s Current Population Survey and its annual Social and Economic Supplement for 2024, but it cited rising mortgage rates and higher housing costs as retirees struggled to sell their homes and buy new ones. The research found that retiring was the top reason for relocating in 2024, with 20.4% of this demographic coming to Massachusetts and Florida, well behind at 19.9%.
While it is clear that many seniors will retire and move away, options are constantly changing, with affordability challenges presenting concerns for those with limited income.
GOBankingRates consulted experts to identify the cities where retirees are most likely to move in 2026, based on population growth, average cost of living, retirement perks like no Social Security taxes or income taxes, and other attractive draws for seniors and retirees.
1. Tampa Bay Area (Tampa-St. Petersburg), Florida
Thomas O’Shaughnessy, a realtor, real estate expert and vice president clever proposal, Said Florida is attracting retirees, but many are looking to relocate from those expensive coastal areas to the Tampa-St. Petersburg area because it offers a more attractive balance between expense and lifestyle.
a fresh WalletHub Study Tampa ranked number five among the top cities for retirees, with St. Petersburg not far behind (ranked 12).
“The big attraction is simple: no state income taxes. This means pension payments, 401(k) withdrawals and almost all capital gains are income tax-free, which is a big boost to anyone’s budget every month,” O’Shaughnessy explained.
He also pointed out that another big attraction is the vast medical infrastructure within easy reach.
2. Knoxville, Tennessee
O’Shaughnessy referred to Knoxville as an affordable mountain escape because its cost-of-living index is well below the national average, offering incredible value for money compared to other locations such as the Northeast.
He added, “There are no state income taxes on wages and salaries, which again is very tax-friendly for retirees. People like the four seasons that are mild, the access to the Great Smoky Mountains National Park, and a strong university within Knoxville, which not only keeps the culture thriving but ensures its hospitals are high quality.”
It is ideal for retirees who want to live somewhere with low taxes and mountain views for a change of scenery in their golden years. an article on savingadvice.com noted that with a strong sense of community and increasing health care options, Knoxville was one of the most affordable cities for seniors to retire.
3. Mesa, Arizona
Another state that is attracting retirees is Arizona, especially those relocating from more expensive states like California, according to O’Shaughnessy.
“The Phoenix-Mesa area is popular due to the vast availability of over-55 developments and excellent infrastructure that is perfectly positioned to meet the needs of seniors,” he explained.
Although there are state taxes in Arizona, they do not affect Social Security benefits. O’Shaughnessy also emphasized that Mesa has reliable weather and access to focused quality health care.
A 2024 study shared by SmartAsset It turned out that Mesa had the most number of retirees in a single year at that time, with a net influx of 4,453 people, a figure 50% higher than any other city.
4. Fort Lauderdale, Florida
“With prime airport access (FLL), the nation’s largest cruise port, strong healthcare network, boating/waterfront and country club lifestyle, as well as abundant lock-and-leave condo options, the metro area is seeing growth in the 65-plus population,” said broker and owner Gerard Liguori. Premier Estate Properties.
The main attraction for retirees is the fact that there is no state income tax on working or retirement income, no Social Security tax and no state inheritance tax. Retirees can keep more of their money, and they get the chance to enjoy the weather year-round.
5. Vero Beach, Florida
Liguori points out that the Vero Beach area is one of the Highest share of residents age 65 and older In the US (about 30%).
“Vero Beach is known for a tranquil coastal lifestyle, barrier-island estates, cultural destinations, golf and tennis communities and strong appeal to retirees seeking privacy and lower density than South Florida’s metropolises,” he said.
Liguori also said the city has a walkable downtown with fine dining and an expanded private airport with access to commercial flights. He also said the rising cost of living is a concern, but the area’s amenities continue to attract seniors looking to live in the sun.
He elaborated, “Retirees are flocking to these distinctive Southeast Florida town cities because of the compelling combination of favorable tax laws (no state income, Social Security tax, no state inheritance tax), excellent access to health care, a highly desirable climate and a well-established senior-oriented lifestyle and infrastructure.”
It shouldn’t be a surprise that several places in Florida have made lists of top places to retire.
O’Shaughnessy concluded, “States that don’t tax income and don’t tax Social Security are automatically ahead of everyone else in this race. It’s a very prudent decision because the concern is how much they will enjoy life over the next 20 to 30 years.”