Getting to retirement is a fantastic accomplishment. But what if you don’t want to wait until your late 60s to get there, or if you want to live as lavishly as possible once you do hit that prime age category? Then, you may need to seriously consider where you live in retirement because some places are simply too expensive to allow you to live out those golden years in style. 

In July, GoBankingRates released its study showcasing the 50 most expensive retirement towns in America. To find the most expensive places, the team analyzed all U.S. cities with a total population greater than 25,000 and a 65+ population above 25 percent, which it sourced using the 2022 American Community Survey conducted by the U.S. Census Bureau.

It then looked at a variety of factors that included each city’s annual rent prices and 2024 home value, both sourced from Zillow, the annual grocery costs sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey, the annual healthcare costs sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey, the annual cost of utilities, and each city’s cost-of-living index. 

After looking at all the data, one thing was clear: California and Florida are wildly expensive places to retire. 

As the findings revealed, the oceanfront town of Rancho Palos Verdes in south Los Angeles County, California, came in at No. 1 for the most expensive place in America to retire. The team found that the annual expenditure as a homeowner is $149,970, while the yearly mortgage costs are $126,036, the average annual grocery cost hit $5,277, and the annual healthcare cost reached $6,801.

Rancho Palos Verdes was followed by three other California destinations: Walnut Creek, Seal Beach, and Novato. And while California dominated the top four spots, Florida also made more than its fair share of appearances. 

“Nearly half of America’s 50 most expensive retirement towns are in Florida,” the findings shared. “Twenty-four of the 50 most expensive retirement towns were in the Sunshine State. The five highest-ranked Florida towns were Aventura (which came in at No. 12), Palm Beach Gardens (No. 14), Boca Raton (No. 15), Palm City (No. 17), and Bonita Springs (No. 18).” 

Check out all 50 of the most expensive places to retire in America at gobankingrates.com.