Fortune Announces the 25 Best Places to Retire Affordably

News provided by

Oct 09, 2024, 07:00 ET

American Canyon, CA is the best city for cost-effective retirement living

Study finds West Coast and New England locations offer retirees best value

NEW YORK, Oct. 9, 2024 /PRNewswire/ -- Today Fortune launches the inaugural Fortune 25 Best Places to Retire Affordably, showcasing attractive locations across America. The list was created based on a range of socioeconomic factors, including healthcare, wellness, livability, resources for older adults, financial health, geographic desirability (such as climate and proximity to nature), and affordability.

The top 10 includes two California cities: American Canyon, CA (No. 1) and Santa Clara, CA (No. 3). Located in Southern Napa County, American Canyon offers affordable housing near both Napa's world-class wineries and two beaches, Newport Beach and Huntington Beach. It's ideal for active retirees, with kayaking, biking, hiking, and golfing options. The city boasts a tight-knit community feel, local events, and proximity to top healthcare facilities.

The runner up is on the opposite coast: Newport, Rhode Island. Its scenic beaches, waterfront walks, and historic mansions provide a peaceful yet engaging atmosphere. Retirees enjoy cliff trail walking, exploring architecture downtown, and dining at waterfront seafood restaurants. Newport also offers a variety of activities, from concerts and fitness programs to fishing and golfing, as well as access to quality medical care and proximity to Providence and Boston. Residents also enjoy Rhode Island's tax benefits for retirees.

The top 10 Fortune Best Places to Retire Affordably in 2024:

American Canyon, CA
Newport, RI
Santa Clara, CA
Beaufort, SC
Portsmouth, NH
Shoreline, WA
Maple Valley, WA
Scarborough, ME
Portland, ME
Lafayette, CO

Alyson Shontell, Fortune Editor in Chief and Chief Content Officer, said, "Where to retire and how to make sure it is affordable is something so many Americans think about – often well before they actually retire. We are excited to introduce this new Fortune list, which we believe will become an annual go-to list providing valuable guidance on where to look and just what affordability means for retirees in today's economy."

Alexa Mikhail, Fortune senior wellness reporter, added, "Aspiring retirees have a variety of needs and wants for the place they will call home for the long haul, but it's evident that easy access to quality health care, community, and outdoor spaces are most commonly sought after."

To build this new ranking, Fortune conducted an independent evaluation of over 2,000 cities, towns, suburbs, exurbs, villages, and townships with populations of approximately 10,000 or more across all 50 states. Areas where home sale prices exceeded twice the state median were excluded from the final analysis. While affordability is inherently subjective and relative, the ranking includes a broad variety of regions and baseline costs of living, all delivering lifestyle and health value for retirees. The methodology can be found here.

Fortune also worked with several critical data partners—including Caring.com, CVS Health, Healthgrades, Ineedana.com, Sharecare, and Witlytic—that helped provide information for nearly 200 separate data categories in our comprehensive evaluation process. This list is part of Fortune Well, Fortune's health and wellness hub presented by CVS Health, which features tips and insights working professionals need to thrive in their careers and personal lives.

NOTE: Unforeseen severe weather events have increasingly become a significant factor in considering retirement locations. In recent years, the unpredictability and frequency of such weather phenomena may impact the suitability and safety of various regions. We recommend thorough research to ensure an informed choice that takes into account the potential risks associated with severe weather conditions.

About Fortune:
Fortune is a global multi-platform media company built on a legacy of trusted, award-winning reporting and information for those who want to make business better. Independently owned, Fortune tells the stories of the world's biggest companies and their leaders as well as a new generation of innovators who are moving business forward. Digitally and in print, Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World's Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum and Brainstorm Tech. For more information, visit fortune.com.

Media Contacts:
Chelsea Hudson
Fortune
[email protected]

Patrick Reilly
Fortune
[email protected]

SOURCE Fortune Media (USA) Corporation