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Retirees Are Fleeing These 10 U.S. Cities—Most Are in High-Cost States Requiring Over $1 Million to Retire Comfortably

Retirees are packing their bags and leaving some of America’s most iconic cities in droves.

According to a June 2025 study by SmartAsset, which analyzed data from the Census Bureau’s latest American Community Survey, cities like New York, Los Angeles, and Washington, D.C., are seeing significant net losses of residents aged 60 and older.

These urban centers, often celebrated for their cultural vibrancy and economic opportunities, are becoming less appealing for retirees due to soaring costs of living, high taxes, and other factors like climate concerns and lifestyle preferences. This article explores the top 10 U.S. cities retirees are fleeing, the reasons behind their exodus, and the financial realities driving these decisions.

The Top 10 Cities Retirees Are Leaving

The SmartAsset study highlights the cities with the highest net migration losses of residents aged 60 and over in 2023. Net migration is calculated by subtracting the number of people moving into a city from those moving out. Below is the list of the top 10 cities retirees are leaving, ranked by net outflow, along with their total population of residents aged 60 and older.

New York, New York
- Net Migration: -17,084
- Total Population Aged 60 and Older: 1,940,556
  New York City tops the list with a staggering net loss of over 17,000 seniors in 2023. The city’s high cost of living, with an average monthly rent for a one-bedroom apartment exceeding $3,000 and steep taxes, makes it a challenging place for retirees on fixed incomes. Despite its cultural allure, the financial burden is pushing many to seek more affordable destinations.
Los Angeles, California
- Net Migration: -3,187
- Total Population Aged 60 and Older: 763,361
  Los Angeles, known for its sunny weather and entertainment industry, is losing retirees due to its expensive housing market and high cost of daily necessities. The median home price in Los Angeles exceeds $900,000, making it difficult for retirees to maintain their lifestyle.
San Diego, California
- Net Migration: -2,604
- Total Population Aged 60 and Older: 273,581
  San Diego’s picturesque beaches and mild climate are overshadowed by its high cost of living, with median home prices around $850,000. Retirees are finding it hard to stretch their savings in this coastal city.
Washington, D.C.
- Net Migration: -2,434
- Total Population Aged 60 and Older: 120,177
  The nation’s capital, with its high taxes and expensive real estate, is seeing retirees move out. The cost of living in D.C. is among the highest in the U.S., with a one-bedroom apartment averaging $2,500 per month.
Denver, Colorado
- Net Migration: -2,286
- Total Population Aged 60 and Older: 125,676
  Denver’s booming economy has driven up housing costs, with median home prices nearing $600,000. Retirees are leaving for more affordable regions with similar outdoor recreational opportunities.
Oakland, California
- Net Migration: -2,016
- Total Population Aged 60 and Older: 88,080
  Oakland’s proximity to San Francisco makes it a pricey place to live, with high rents and property taxes pushing retirees to seek more budget-friendly locations.
Arlington, Virginia
- Net Migration: -1,703
- Total Population Aged 60 and Older: 40,434
  Arlington’s high cost of living, coupled with its urban density, is prompting retirees to relocate to quieter, more affordable suburbs or states.
Chicago, Illinois
- Net Migration: -1,699
- Total Population Aged 60 and Older: 533,029
  Chicago’s harsh winters, high property taxes, and rising crime rates are driving retirees to warmer and more cost-effective destinations.
San Jose, California
- Net Migration: -1,668
- Total Population Aged 60 and Older: 200,684
  As a tech hub, San Jose’s cost of living is astronomical, with median home prices exceeding $1.2 million. Retirees are finding it unsustainable to remain in the area.
Anchorage, Alaska
- Net Migration: -1,413
- Total Population Aged 60 and Older: 53,946
  Anchorage’s remote location, high cost of goods, and extreme weather conditions are significant factors in retirees’ decisions to leave.

Why Are Retirees Leaving These Cities?

Several factors contribute to retirees’ decisions to leave these cities, with cost of living being the most prominent.

According to an analysis, retiring comfortably in states like New York and California requires savings of $1.3 million and $1.6 million, respectively. These figures account for housing, healthcare, groceries, transportation, and other essentials over a 20–30-year retirement period.

In contrast, states like Florida, Texas, and Arizona, which are popular retirement destinations, often require significantly less due to lower taxes and housing costs.

Cost of Living

High-cost cities like New York and Los Angeles rank among the most expensive in the U.S. for retirees. This report named New York City the priciest city for retirement, citing sky-high housing costs, utilities, and healthcare expenses. For example, in New York City, the average annual cost of assisted living is over $80,000, and in-home care can cost upwards of $60,000 annually.

Tax Burdens

States like California and New York have some of the highest state income and property taxes in the country. California’s top income tax rate is 13.3%, and New York’s is 10.9%. Retirees, many of whom rely on fixed incomes from pensions or Social Security, are increasingly moving to states with no income tax, such as Florida or Nevada.

Lifestyle and Climate

Beyond finances, retirees are seeking locations that offer a better quality of life. Warmer climates in states like Arizona and South Carolina are attractive for those escaping harsh winters in cities like Chicago or Anchorage. Additionally, retirees are prioritizing proximity to family, access to healthcare, and recreational opportunities that align with their lifestyle preferences.

Urban Challenges

Large cities often come with challenges like traffic congestion, crime, and limited affordable housing options. For instance, Chicago’s rising crime rates and Denver’s rapid urbanization have made these cities less appealing for retirees seeking peace and safety.