The Best Cities for Boomers To Retire in Luxury

After decades of hard work, many retirees dream of living out their golden years in luxury—and with proper financial planning, a high-end home in a top market could be within their reach.

Every retiree has a reason for choosing where to retire. Some prefer the four seasons, others year-round warm weather, or family may be a big influence.

"Households who have a sizable amount of existing home equity and retirement savings may find purchasing a luxury retirement home appealing," says Realtor.com® senior economic research analyst Hannah Jones.

A retirement nest egg is in addition to a Social Security benefit a retiree would receive. In 2025, the Social Security Administration says an average of almost 69 million Americans a month will receive a Social Security benefit, totaling about $1.6 trillion this year. The average monthly benefit is $1,975, but it varies based on age, years employed, and salary earned. A retiree can begin receiving Social Security as early as age 62.

When it comes to where to invest, there's a wide range of places considered to be in the top markets for wealthy retirees. Economists at Realtor.com identified the top 10 best places to retire in luxury. Their methodology behind the list includes looking at cities where the median population age is 55-plus, growing $1 million-plus sales by count and by share year over year, and ranked by share of sales of $1 million or more.

"The luxury market has been relatively active in recent months despite a challenging overall market," explains Jones. "There were roughly 15,000 more luxury homes for sale in January compared to one year prior, and these homes sold about two days slower."

Here's where Americans are putting their money down and retiring in luxury.

Anna Maria, FL

• Median population age: 67.6

• 2024 median sale price: $2,067,842

Anna Maria is a 7-mile-long barrier island on the Gulf Coast, west of Bradenton. The luxury real estate appeal of this picturesque place is evident with 61% more homes listed for $1 million or greater. The area took a direct beating, though, when Hurricane Milton swept through in October 2024. Homes and businesses were left devastated, but the beach community is bouncing back and rebuilding. Beaches are back open to the public, and many iconic locations are being carefully restored.

Pleasanton, CA

• Median population age: 66

• 2024 median sale price: $1,650,167

Pleasanton is about 40 miles east of San Francisco. The community has a population under 80,000 residents. In this suburb with turn-of-the-century charm and a high quality of life, 85.5% more homes are listed for $1 million-plus. The median sale price in 2024 was $1,650,167.

Isle of Palms, SC

• Median population age: 58.2

• 2024 median sale price: $1,484,354

Located along the East Coast, Isle of Palms is a barrier island with 6 miles of white, sandy beaches. It's less than 20 minutes from Charleston. This community is only 7 miles long and 1 mile wide. Retirees to the area can enjoy fishing, golf, tennis, and dozens of outdoor activities. The main draw is the array of luxury housing available, from homes to condos. The market saw 77.3% more homes listed for $1 million or more last year.

"Much like the overall housing market, the luxury market varies place to place. Generally, areas in the South will yield more bang for your buck, and West or Northeast locales may be more expensive on a price-per-square-foot basis," says Jones.

Lawrence, NY

• Median population age: 57.6

• 2024 median sale price: $1,947,333

For people who want to maintain an urban lifestyle in retirement Lawrence makes the list. Located on Long Island, about 25 miles outside of Manhattan, this village of under 7,000 people saw the median sale price of homes in 2024 at $1,947,333.

More than 75% of homes were listed for $1 million or more last year. The appeal of this village combines the suburban feel with the convenience of the bright lights of Broadway, first-class restaurants, and endless shops.

Weston, CT

• Median population age: 72.5

• 2024 median sale price: $1,274,284

Weston also offers a suburban lifestyle for retirees, along with close proximity to the big city. Weston is about 45 miles outside of New York City and has a population of 10,350. It's known for its arts community, natural open spaces, and minimal commercial development. A big draw for people who put down roots in Weston is the community's "2-acre rule." Zoning regulations in the town require all residential properties be at least 2 acres in size. In 2024, 74.40% more homes were listed for $1 million-plus.

Jackson, WY

• Median population age: 57.1

• 2024 median sale price: $1,396,209

The town of Jackson is located in Teton County. Jackson Hole refers to the geographical feature of the valley beside the Teton Mountain Range. The valley is about 60 miles long, and Jackson is the town on the southern end.

For people looking to retire in luxury, Jackson Hole is home to one of the world's most challenging ski areas and a place the jet set frequents. It's the gateway to Yellowstone and the Grand Teton National Parks. In 2024, the median sale price was $1,396,209. The share of $1 million-plus homes in the area was 62.60%.

Avon, CO

• Median population age: 56.4

• 2024 median sale price: $1,366,859

Avon is located in the heart of the Rocky Mountains and is just minutes from Vail and Beaver Creek. It's an area that offers more than just skiing, as year-round events fill the calendar from festivals to concerts.

The median retirement age in Avon is 56.4. In 2024, the share of $1 million-plus homes was 60.7%, with the median sale price of $1,366,859.

Hinsdale, IL

• Median population age: 58

• 2024 median sale price: $1,224,368

Hinsdale isn't just any Midwestern city. It's a suburb about 20 miles west of downtown Chicago. The village offers a small-town feel but the convenience of city life. There's more than 150 years of history in Hinsdale. It was a railroad concept that drew land developers to this town. Now, it's known as one of Chicago's most sought-after luxury neighborhoods.

"Of course retirees want Hinsdale's lifestyle, beautiful homes, clubs, arts, excellent dining, and health care facilities. But they also want something more intangible: a unique small-town feel they get when they first visit," Dawn McKenna, a luxury real estate broker in the region, tells Realtor.com.

"They want to wake up, walk to town for a coffee, spend the day at the club, and finish the day at one of Hinsdale's excellent restaurants."

Jamestown, RI

• Median population age: 62.5

• 2024 median sale price: $1,169,938

Known as a coastal gem, Jamestown has the Beavertail Lighthouse and Park, historic farms, and award-winning restaurants. Its history dates to 1678, when it was incorporated as part of the Massachusetts Bay Colony. It was later transferred to Rhode Island in 1746.

This community boasts a tiny population of just over 5,500 residents, according to the 2020 U.S. Census. Luxury home prices have risen with 54.1% more homes listed for $1 million or more last year.

Cannon Beach, OR

• Median population age: 59.7

• 2024 median sale price: $1,259,395

Cannon Beach in the Pacific Northwest was once named one of the world's most beautiful places by National Geographic. This village by the sea is located 90 minutes west of Portland.

Retirees are putting down roots in this small beach town with sandy beaches, rock formations, and a walkable downtown.

In 2024, 51.8% more homes were listed for $1 million or greater.

"Ample luxury inventory and a stable market pace means that buyers will have ample options and enough time to decide before taking the leap," says Jones.