The top 10 most costly retirement locations in the U.S., determined by home prices, include over half that are situated in California
The financial challenges retirees encounter often stem from housing costs, which can significantly differ depending on the location.
According to the “2024 Best Places to Retire in the U.S.” study by U.S. News and World Report, California hosts several of the most expensive retirement destinations based on home prices. The analysis covered the 150 most populated metropolitan areas in the U.S. and Puerto Rico, using the latest data from the U.S. Census Bureau to estimate annual housing costs for each area.
San Jose, California, claims the top spot with a median home price of $1,522,574, alongside a high cost of living that includes elevated expenses for utilities, groceries, and gas. Despite the financial aspect, San Jose boasts appealing features for retirees, such as its proximity to the ocean and approximately 300 days of sunshine annually.
San Francisco secures the second position with a median home price of $1,117,862, marked by a steady increase in housing costs due to population growth and a decline in new housing units. Despite the financial challenges, retirees may find allure in San Francisco’s renowned restaurants, museums, and pleasant weather.
The following list comprises the 10 most expensive retirement locations in the U.S., determined by home prices, as reported by U.S. News and World Report:
- San Jose, California Median home price: $1,522,574
- San Francisco Median home price: $1,117,862
- Salinas, California Median home price: $921,917
- San Diego Median home price: $919,499
- Santa Rosa, California Median home price: $888,600
- Boulder, Colorado Median home price: $871,730
- Los Angeles Median home price: $835,858
- Naples, Florida Median home price: $806,604
- Seattle Median home price: $769,983
- Boston Median home price: $716,329
The following list comprises the 10 most expensive retirement locations in the U.S., determined by home prices, as reported by U.S. News and World Report:
- San Jose, California Median home price: $1,522,574
- San Francisco Median home price: $1,117,862
- Salinas, California Median home price: $921,917
- San Diego Median home price: $919,499
- Santa Rosa, California Median home price: $888,600
- Boulder, Colorado Median home price: $871,730
- Los Angeles Median home price: $835,858
- Naples, Florida Median home price: $806,604
- Seattle Median home price: $769,983
- Boston Median home price: $716,329
While housing costs and affordability are crucial factors in retirement decisions, personal preferences such as proximity to family and access to specific activities, like hiking or surfing, also play a significant role in choosing a retirement location.
