Top Places to Retire in 2024

More people are approaching retirement, and that’s not an overstatement. Baby boomers—people born in the post-war era from 1946-1964—are ready to kick their feet up and start relaxing. They’re starting to retire at increasing rates, with all reaching retirement age by 2031.

The only question is: where will they retire? That the baby boomers have been set to retire en masse isn’t up for debate. It’s simple demographic math. After many years in the workforce, today’s retirees are ready to enjoy their investments and make the most out of their sunset years.

For anyone looking forward to retirement in 2024, it’s about finding specific places that align with their retirement goals. Some want to be near excellent health care or live in places where their pension dollars go further. Perhaps they’re ready to escape the cold winters for the warmer and more affordable southern climates. Maybe it’s about indulging year-round in an activity they enjoy but could only do on vacation.

The best places to retire in the US have some common traits: low housing costs, lots of recreational activities, and a high quality of life.

What To Look For In a Top Place To Retire

As you review top retirement destination lists, they don’t all consider that you might not be completely untethered from your pre-retirement life. So when you scan these lists, remember that these are the variables weigh into what makes a place ideal for retirement:

• Tax burden. Every you go, you’ll pay federal taxes. What matters even more are state and local taxes, which vary considerably. Tax burden determines how much of your fixed income will go to paying property, income, and sales taxes.
• Cost of living. Your retirement savings only stretch so far. Getting the most out of retirement also means controlling living costs—housing costs, food prices, and health care.
• Healthcare access. People in their 20s and 30s are less likely to consider outstanding healthcare access when determining where they live. However, the equation changes in their 50s, 60s, and 70s when medical visits become more frequent, as does the use of long-term medical care.
• Climate/weather. You might have the best recreational facilities and safety ratings in the world, but if your town doesn’t see the sun for six months out of the year, chances are that it will not end up on a best-of-retirement list.
• Available leisure activities. Retirement lists typically factor in what recreational activities are available for people, especially for activities targeting the older age bracket. These are the leisure years we’re talking about, not the best place to raise a family or land a stellar job.

With those variables on the docket, what are today’s top publications saying are the best places to retire in 2024? 

Best States To Retire in US For 2024

Pennsylvania

Retirement is a glorious time in life. You have endless time to do what you want to do–but with the catch of managing fixed income. Luckily, Pennsylvania ticks the boxes here. The amount of outdoor activities and affordable living make Pennsylvania and its towns appear again and again as a great place to retire. It boasts the second-best quality of life and the eighth-best healthcare access. The VA Medical Center in Lebanon County consistently earns high marks for its veteran medical care.

Perhaps the biggest draw for retirees is that Pennsylvania does not tax its residents’ retirement income, including pension income, making it one of only two states with this exemption. With a flat tax rate of just 3.07 percent, Pennsylvania is a great place to retire for those looking to make their dollars last longer.

For 2024, US News and World Report’s top five cities to retire were all in Pennsylvania. These smaller cities, like Harrisburg and Allentown, marry affordability with a sense of community and easier access to the great outdoors.

Florida

Even though living costs are rising, the Sunshine State keeps luring retirees dreaming of mornings walking beautiful beaches and afternoons playing golf or pickleball. The high quality of life makes Florida a top place to retire. The mild winters give residents so much to do. Take long road cycles, kayak pristine spring-fed rivers, fish on miles-long freshwater lakes, or sail the Gulf of Mexico waters. 

Having no income tax at all is another reason Florida remains a favored retirement destination. It keepsmore of those hard-earned retirement dollars and Social Security payouts in your pocket.

Additionally, Florida has many retirement-dedicated communities packed with amenities. Sun City Center and The Villages are perhaps the most well-known active lifestyle havens catering to the retirement set. 

Florida has three main drawbacks. All living costs are on the rise. Demand is pushing housing prices upward, while insurance prices challenge waterfront housing. Those are increasing because of Florida’s weather–residents contend with major hurricanes. Scorching hot summers waiver between drought and bouts of severe thunderstorms. Florida is also in demand by all demographics, pushing up its population and service demand. The good news is that major cities like Tampa and Daytona Beach still manage to have affordable living near the Florida waterfront.

Delaware

It may surprise you to find the nation’s second-smallest state on a list of places to retire. However, retiring in Delaware has become even more affordable as living costs rise nationwide. Locals benefit from no sales or local sales taxes and no Social Security benefit taxes. Property tax rates are also lower relative to other mid-Atlantic states. 

Climate-wise, it’s very temperature. Yes, you’ll have a winter, but it’s not as harsh as the blizzards that pound the northeast. Summers are warm but not as long or muggy as Florida. Severe weather happens everywhere, but it’s not as common to experience events like tornadoes or major hurricanes. 

Plus, you still gain perks like beautiful beaches, championship golf courses, and peaceful state parks. Delaware borders the Atlantic and is near the Chesapeake Bay, increasing its waterfront recreation choices. The major cities flourish with arts and culture, a well-connected public transportation system, and quality hospitals. 

South Carolina

The Palmetto State is another contender whose attractiveness has risen as other southern states become crowded and less affordable. Those seeking warmth will find it in the humid summer days of a South Carolina summer. They’re ideal for checking out the beautiful beaches, rivers, and lakes that dot the state. It also has some hills and mountains in the Upstate that provide an escape from Lowcountry humidity while giving residents things to do, like fly fishing or hiking. Friendly locals epitomize Southern hospitality. 

Its major cities are still small–even Charleston has just over 150,000 residents. The less crowded cities allow them to preserve the sense of community Southern towns are known for. It’s a place where people wave to let you into traffic or greet you in the grocery store.

South Carolina’s median home prices remain more affordable, contributing to its being one of the best places to retire in the US. The overall lower cost of living makes retirement savings stretch farther.

Best Cities to Retire in the US

• Lancaster, PA. This city repeatedly makes the best retirement lists, the foremost being the annual US News and World Report. Their analysis placed this PA city at the top of its list in 2023 and third in 2024. That’s largely thanks to the residents’ reported happiness levels. Another key factor is the low cost of housing. Lancaster also received high scores for health care, a tax-friendly environment for seniors, and happiness.
• Charleston, SC. The main considerations for Charleston’s high rank as a retirement destination included leisure activities (like golf, access to beaches, and nightlife), healthcare access, and affordability. The mild winters are probably not hurting its case, either.
• Harrisburg, PA. Located near the famous Hershey, PA, Harrisburg is Pennsylvania’s capital. It features retirement-friendly infrastructure, such as access to great healthcare. One reason the US News and World Report ranked it first in 2024 was its low cost of housing. Stretch your retirement dollar in an urban center called Pennsylvania’s “outdoor capital,” thanks to the scenic Susquehanna River and multiple parks.
• Winston-Salem, NC. North Carolina lures people in with its Appalachian Mountains, Outer Banks, and dynamic urban centers. In between it all lies Winston-Salem. Its perks are economic stability, a lower cost of living, and a moderate climate. Find some of the lowest crime rates in the state. It has all you need for retirement, including quality healthcare centers and many outdoor activities, from botanical gardens to state parks. 
• Tampa, FL. When many people think about retiring near the beach, they often overlook the Gulf Coast of Florida, but they shouldn’t. Tampa is a large city with plenty of attractions—including its own NFL, MBA, and NHL teams—and is a common port for cruise ships. It’s waterfront living with a more affordable cost of living compared to Naples or Miami.
• Charlottesville, VA. Located near Shenandoah National Park, Charlottesville is a bustling college town, but don’t let that deter you. According to a 2022 Smart Asset report, it even came in as the second-highest-rated city in America for a relatively important rating: happiness. The UV Medical Center may offer the best healthcare in the state, and there are plenty of planned retirement communities for people who want to enjoy the locale. Median home prices are higher here, but consider the access to arts, culture, and recreation. 
• Portland, ME. When you break down the best places to retire by region, Portland won the northeast category thanks to its combination of leisure activities (museums, shows, fine dining) and summertime outdoor events.
• New Braunfels, TX. The growing city near Austin and San Antonio is one place to get more for your dollar. The Hill Country of Texas is prized for its scenic beauty, and choosing New Braunfels adds a dynamic culture packed with golf courses, wineries, the world’s largest water park, and German-themed festivals. Find quality health care, lower housing prices, and no state income tax.  
• Las Cruces, NM. Even though it may not benefit from more generous tax breaks for retirees, Las Cruces’ living costs and quality of life make it a worthy contender. Desert living means a dry climate and warm days while having a college in town gives it an exciting vibe. Find multiple ways to fill those 340 days of sunshine, from horseback riding the mountains to shopping at the nation’s largest farmer’s market.

Retirement in 2024 and Beyond

Browsing the list of the best places to retire in the USA, it’s clear the best part of our nation is its diversity. There are still many places where a retiree can stretch their investment dollar. Though our demographics are changing, the same basic needs for retirement aren’t going anywhere. American retirees will need access to good healthcare, some fun things to do, and excellent weather that makes enjoying life at its best much easier.

 

FAQs

What states tax Social Security benefits?

As of 2024, ten states tax Social Security benefits either partially, based on total household income, or at full income: Colorado, Connecticut, Kansas, Minnesota, Montana, Nebraska, New Mexico, Rhode Island, Vermont, and Utah.

What states have the lowest tax rates?

If you take together all tax rates–sales, property, income, city, county, and local–you get a tax burden. Using median household incomes and the total tax rate, the states where residents paid the least in overall taxes for 2024 were: Alaska, Wyoming, Tennessee, South Dakota, and Michigan.

Which states have the most affordable housing for retirement?

Based on median list prices, the states with the most affordable homes were Iowa, Ohio, Arkansas, Oklahoma, and Louisiana. Of course, median list prices vary greatly by where you live in those states. Urban centers typically have higher home prices, as do those near attractive features like waterfront living or entertainment.

What are the safest cities for retirees?

Safety, as measured by violent crime and property crime rates, depends on the population size. Another factor is the risk of natural disasters like earthquakes, hurricanes, tornadoes, or active volcanoes. Weighing that together, some of the safest cities for retirees to live are: Pinehurst, North Carolina; Rockport, MA; Frankfort, KY; Urbandale, IA; and Fergus Falls, MN.

What are the largest retirement communities in the USA?

Based on the population of those 55 and over, the largest retirement communities in the US are The Villages, FL; Sun City, AZ; Sun City West, AZ; Green Valley, AZ; and Laguna Woods Village, CA.