8 Cities Where Retirement Income Is the Highest — Can Retirees Afford To Live There?

Jordan Rosenfeld

Fri, Jun 6, 2025, 7:01 AM 5 min read

Retirement is a time when many people’s income significantly drops, even with retirement accounts and Social Security funds. Many retirees make the decision to relocate to make their money last the longest.

Smart Asset recently ranked 344 of the largest U.S. cities to determine where retirement income is the highest (taking into account funds from accounts such as pensions, 401(k)s, IRAs and 403(b)s) and income from Social Security retirement benefits).

Here are the top eight cities where retirement income is the highest. GOBankingRates also looked at the average home value in each city to see which ones retirees are most likely to afford.

Check Out: 12 Surprisingly Affordable Cities With Great Weather for Retirees

Read Next: 5 Cities You Need To Consider If You're Retiring in 2025

You might not think of trees when you think of Texas, but that’s what makes the town of The Woodlands special — it was founded in 1974 with 28,000 tree-filled acres. Bordering beautiful Lake Woodlands, this city is rich in outdoor activities, culture and plenty of amenities for retirees. It’s located 28 miles from downtown Houston.

Here, the average annual retirement income clocks in around $79,033, with about $47,281 of that coming from retirement accounts and $31,752 from Social Security. The average home value is the reasonable compared to some on this list at $331,697.

Watch Out: Avoid This Retirement Savings Mistake That’s Costing Americans Up To $300K

Another historic Virginia city on this list is Alexandria, one of the sites of some of the most dramatic moments in early American history. Located just across the Potomac River from Washington D.C., the city is rich in amenities, activities and everything a retiree could hope to need, or they can head on in to the Nation’s Capitol instead.

Here the average annual retirement income clocks in around $79,273, with about $53,697 of that coming from retirement accounts and $25,576 from Social Security. The average home value is the reasonable compared to some on this list, at $682,126.

Located almost directly in the center of the country, Norman, Oklahoma, not only attracts college-aged students due to the University of Oklahoma, but many retirees, too, due to its affordable cost of living. With a lot of museums, festivals, historical attractions and outdoor activities, it’s a great place for a retiree to call home.

Here the average annual retirement income clocks in around $80,177, with about $55,056 of that coming from retirement accounts and $25,121 from Social Security. The average home value is the most reasonable on this list, at $259,273.