In this article, we will explore the 25 best southern cities to live in for retirees. You can skip our detailed analysis and go directly to 10 Best Southern Cities to Live in for Retirees.
Migration Dynamics of Older Americans
The baby boomer generation is aging drastically. Currently, over 56 million people in the United States are 65 or older. Out of these, 6.7 million are over the age of 85. These figures will climb to 80.8 million residents aged 65 or older by 2040, a phenomenon stemming from the post-World War II Baby Boom. The demographic shift, also called the grey tsunami, reveals that all baby boomers will reach the age of 65 and above by the year 2030. These estimated 73 million people would be the face of the overall aging U.S. population in the decades to come.
The swelling in the number of older adults will only continue bulging in the coming years. By 2060, one in four Americans will be 65 or older, those that are 85-plus will triple, and there will be half a million centenarians (aged 100+). As such, the oldest population cohort is on the move. Younger-old cohorts aged 65-74 demonstrate similar migration patterns as younger adults. In this regard, a report by American Community Survey reveals that the South has had the largest net migration gain in terms of older people. This net gain has been roughly 73,000 people in 2015-2019. Meanwhile, the west gained approximately 8,800 people.
The report also reveals that Florida has been the one gaining the largest number of older Americans at 53,150 annually. On the other hand, New York suffered the most from domestic migration. U.S. Census Bureau survey data reveals that retirees are increasingly making inter-state moves. In 2022 alone, over 234,000 retirees moved to a new state, with Florida attracting the largest portion of retirees at 11.8%. North Carolina attracted 9.6% retirees, Michigan 6.6%, Arizona 5.9%, and Georgia 5.5%.
Moving to new places can be both experimental and cost-saving for retirees. A report by Vanguard reveals that typical homeowners can save as much as $100,000 by selling their primary home and moving to a cheaper area. Relocating to an area with a cheaper cost of living can also help save more of retirement income. Retirees on the West Coast are likely to benefit from such moves from Oregon, Washington, California, etc. Nevada, Florida, North East, amongst others, are also well-positioned for selling off and moving due to higher land prices in the area.
Moving South
The latest Census Bureau Data reveals that local migration among Americans has reached historically low levels. In the 2021-2022 period, migration rates stood at 8.7%, merely 0.3% higher than the 8.4% historic low in the 2020-21 period. Changing demographics are largely responsible for these patterns. Since the population is becoming older, there are fewer renters, more dual-earning households, as well as homogenous labor markets. Housing crashes, the Great Recession, and the final blow from the Pandemic have had rates plummet to historic lows too.
As such, retirees have much to ponder when considering their retirement options. As of 2023, Social Security Administration reports that social security payments stand at $1,693.88 per month. According to Justice in Aging, 4.7 million older renter households are also more susceptible to facing rental costs and severe cost burdens in comparison to the overall rental population. These burdens tend to aggravate with age. According to their report, 57% of renters aged 75 and above face rental burdens compared to 53% of renters aged 62 years and above. These burdens also tend to increase with rising medical expenses, exhausted retirement savings, and even due to low incomes.
Apart from rental decisions, retirees are also very particular about the cost of living. Since over 40% of older Americans receive money from social security only, this is particularly a deciding factor when moving. With the annual cost of groceries amounting to $4,497 and healthcare expenses being $7,030 annually, retirees have a lot to ponder over. Regardless, over 3 million older Americans aged 65 and above move annually. Surprisingly, those aged 85 and above moved more than the younger old's.
A report by U.S. Census Bureau further reveals that the most popular destinations that older adults are retiring to are the Southern and Western states. For this reason, we have compiled a list of the best southern cities for retirees.
To select the 25 best Southern cities to live in for retirees, we picked out the best Southern cities to retire to from 5 (1,2,3,4,5) sources. Next, we ranked them based on the cost of living index picked from Best Places, amongst other sources. The smaller the cost of living score, the more cost-effective the city is to retire in. While we've ranked the cities solely on cost of living, we've also discussed the percentage of seniors in these cities as well as their livability scores, which comes from Area Vibes. The cities with high cost of living and poor livability were ruled out from our list.
After ranking them, we listed them out in descending order of most to least expensive southern cities to retire in. All of the cities mentioned are free from taxes on social security.
Here are the 25 best southern cities to live in for retirees:
25. Port St Lucie, Florida
Cost of Living Index: 100.7
Percentage of Seniors 65 or Older: 20.5%
Livability Score: 81
With lots of environmental preserves and parks, Port St Lucie is an attractive destination for those who love nature. Retirees also get a chance to enjoy the abundant wildlife, beaches, and hikes in plentiful areas around the city.
24. San Marcos, Texas
Cost of Living Index: 100.1
Percentage of Seniors 65 or Older: 12.9%
Livability Score: 76
San Marcos is a beautiful retirement destination with many rivers and parks. There are plenty of nature trails and beautiful scenery to enjoy in the city. The city also enjoys a warm and temperate climate with adequate rainfall throughout the year.
23. Bradenton, Florida
Cost of Living Index: 98.3
Percentage of Seniors 65 or Older: 25.4%
Livability Score: 73
Bradenton, Florida, enjoys a sub-tropical climate with lots of beaches to explore. Overall, it is a friendly city with a low cost of living and a good livability score. The sun-drenched beaches, vibrant landscapes, and thriving retirement communities make it a good option to consider retiring in.
22. Fort Myers, Florida
Cost of Living Index: 96.9
Percentage of Seniors 65 or Older: 22%
Livability Score:72/100
Seniors aged 65 and older comprise the largest population in Fort Myers, Florida. The city enjoys amazing warm weather influenced by monsoons and active lifestyle opportunities for retirees. Retirees who love the beach and enjoy island hopping and shell collecting have many beach spots to explore, from Cape Coral to Bonita Beach.
21. Concord, North Carolina
Cost of Living Index: 95.1
Percentage of Seniors 65 or Older: 12.3%
Livability Score:78/100
The vibrant city of Concord, North Carolina, is home to a number of attractions and activities for retirees. Those living in the city can enjoy an active lifestyle, explore nature, and even trail on the Carolina Thread Trail. The cost of living is 5% below the national average, and there are plenty of retirement communities for retirees.
20. Ellijay, Georgia
Cost of Living Index: 94.7
Percentage of Seniors 65 or Older: 17.4%
Livability Score: 73/100
Known as the Apple Capital of Georgia, Ellijay is a nice city to retire in for those who love nature and adventure. There are numerous wineries and opportunities for outdoor adventures, such as hiking, biking, kayaking, hunting, and even fishing. The city also enjoys a warm, temperate climate with significant rainfall throughout the year.
19. Melbourne, Florida
Cost of Living Index: 94.4
Percentage of Seniors 65 or Older: 21.5%
Livability Score: 75/100
The sunshine state of Florida has many options for retirees, such as the coastal city of Melbourne. The city also has over 30 senior living communities. Pleasant weather, low cost of living, and a good livability score are all reasons that make this city a good option for retirees.
18. Jacksonville, Florida
Cost of Living Index: 94.2
Percentage of Seniors 65 or Older: 13.9%
Livability Score: 75/100
Jacksonville, Florida, makes it to our list of best southern cities, considering its top healthcare facilities, leisure activities, and affordable cost of living. The city enjoys a subtropical climate with hot, humid summers and mild winters. The restaurant scene is classy, with plenty of outdoor activities to enjoy.
17. Huntsville, Alabama
Cost of Living Index: 90.7
Percentage of Seniors 65 or Older: 16.2%
Livability Score: 68/100
Home to beautiful mountains and picturesque landscapes, Huntsville boasts active adult communities for retirees to consider. There are 10 public golf courses, museums, state parks, Redstone Arsenal, and the famous NASA Space Center. The livability score is 68, and the safest part of the city is in the east.
16. Morgantown, West Virginia
Cost of Living Index: 90.3
Percentage of Seniors 65 or Older: 9.6%
Livability Score: 73/100
Eclectic culture, low cost of living, and natural beauty make Morgantown one of the best places to retire in West Virginia. There are many parks, restaurants, biking, walking trails, and bars to explore around the city. The city enjoys all four seasons and has a temperate continental climate.
15. San Antonio, Texas
Cost of Living Index: 89.8
Percentage of Seniors 65 or Older: 12.5%
Livability Score: 80/100
Retirees and empty nesters are increasingly getting attracted to San Antonio, thanks to its reasonable cost of living and cool downtown scene. The city enjoys a subtropical climate and offers a variety of entertainment, dining, and shopping options. Moreover, plenty of neighborhoods, such as South Town, offer a close-knit community feel for retirees.
14. Greenville, South Carolina
Cost of Living Index: 88.7
Percentage of Seniors 65 or Older: 16.5%
Livability Score: 73
Mild temperatures, low cost of living, and a thriving arts and culture scene make Greenville, South Carolina, a top spot to consider for retirement. The healthcare is inexpensive, the food scene is vibrant, and the winters are comfortable too. Moreover, there are over 55 retirement communities in the city.
13. Lakeland, Florida
Cost of Living Index: 88.3
Percentage of Seniors 65 or Older: 21.8%
Livability Score: 80
Lakeland, Florida, is a thriving city for retirees considering its diversity, moderate climate, and abundant activities. There are lots of golf courses (about 16 within city limits), abundant lakes, and a quiet lifestyle for those who prefer it.
12. Athens, Georgia
Cost of Living Index: 87.5
Percentage of Seniors 65 or Older: 10.5%
Livability Score: 65
Athens, Georgia, is famous amongst retirees for its reasonable medical facilities, good architecture, and strong senior programs. The city offers a dense suburban feel, and there are plenty of restaurants, bars, and parks to explore.
11. Pensacola, Florida
Cost of Living Index: 87.2
Percentage of Seniors 65 or Older: 19.5%
Livability Score: 69
With a 12.8% lower cost of living and a decent livability score, there’s no wonder why seniors are fleeing to this city in the South. The city is also home to gorgeous beaches, natural wildlife, and multitudes of restaurants and parks. The city also enjoys a subtropical climate with significant rainfall throughout the year.
