The Villages has been named the best retirement town for America’s middle class by the personal finance website GOBankingRates. The site analyzed data from cities across the U.S. with at least 10,000 residents, a quarter of whom are 65 and over. Factors such as average Social Security benefits, total annual cost of living, average home value, and household median income were evaluated.

The Villages, located northwest of Orlando, Florida, topped the list. It boasts a household median income of $73,415, an annual cost of living of $48,808, an average Social Security benefit of $30,704, and an average single-family home value of around $400,000. Following closely behind The Villages are Green Valley City and Sun City West in Arizona, taking second and third place, respectively.

Hot Springs Village in Arkansas and Venice, Florida, round out the top five.

Best towns for retirees

Of the 30 metros named the best retirement spots for middle-class Americans, Florida had the most ranked towns with 11, followed by Arizona with five and Ohio with four.

Ray Marek, GOBankingRates’ media outreach manager, said, “Florida is long established as a destination for retirees. The middle class has always flocked to Florida because of its affordability.”

While the cost of living in Florida has risen in recent years, it continues to be favored by retirees seeking both relative affordability and a high quality of life. With approximately 12,000 residents, Greenville, Ohio, is the cheapest retirement destination on the list, coming in 27th place overall.

Its annual cost of living is just $30,173, and its median household income is $45,746. On the other hand, Sun City West in Arizona has the highest percentage of residents aged 65 and older, with 86.5% of the town’s population currently in their golden years. This comprehensive analysis provides a valuable resource for those planning their retirement, highlighting options that suit various financial circumstances and lifestyle preferences.

About half of U.S. adults live in middle-income households, and these findings can help them make informed decisions about where to spend their golden years.

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