Best Cities For Gen X Retirement

The Generation X group often gets attention when people talk about baby boomers and millennials but they are now approaching retirement age. The oldest Gen X members will reach 59 in 2024. Are thinking about their future living arrangements like expenses of living in a place, safety and access to healthcare. A recent survey, across the country shows that 39% of Gen Xers intend to move once they retire. The main question is still unanswered though. Where should they move to? In their quest to find the retirement destinations for Generation X individuals seeking peace and comfort in their golden years, a recent study by ChamberofCommerce.org was done! The studied various aspects such as affordable housing options, tax regulations, life expectancy rates, healthcare accessibility, crime stats, and population movements in the United States' top 170 cities in order to pinpoint the most suitable locations for Gen X to establish roots post retirement.

Why Gen Xers Are Relocating

Generation X individuals born between 1965 and 1980 have a perspective when it comes to retirement planning. The generation is facing challenges related to financial preparedness such as insufficient savings and uncertainties regarding the future of Social Security benefits. However, the ability to work remotely has opened up options for Gen Xers in terms of choosing their preferred places of residence. Cities with affordable living costs exemplary healthcare services and advantageous tax policies are becoming appealing choices for this demographic.

Here’s what drives relocation choices for this group:

• Remote work flexibility.
• Affordability concerns.
• Desire for better quality of life.
• Proximity to healthcare.
• Tax-friendly environments.
• Safety and low crime rates.

As Gen Xers approach retirement, they’re looking for cities that fit these needs and provide a stable community.

Also Read: Soaring Land Prices Seen In Greater Phoenix’s Luxury Markets

The City Of Gilbert, Arizona

Gen X Migration Trends

The trend of remote work has allowed many Gen Xers to rethink where they want to live. This is true for both pre- and post-retirement. Cities in Arizona and Florida, such as Scottsdale and Orlando, have seen significant increases in their Gen X populations. This is primarily due to their favorable climates and lower taxes.

• Scottsdale, AZ: Gen X migration up by 6,215 in 2022.
• Orlando, FL: Saw an influx of 7,923 Gen Xers.
• Fort Lauderdale, FL: Gained 4,507 Gen Xers.
• Henderson, NV: A popular Las Vegas suburb for retirees.

Gen Xers are moving to these cities not just for tax breaks and affordable housing but for better overall quality of life as they transition into their retirement years.

Best Cities For Gen X Retirement (1-5)

After examining all these factors, several cities stood out as optimal choices for those looking to retire in comfort.

• Median Home Value: $692,747
• Gen Xers moved in as a percentage of pop.: 1.60%
• Total Gen Xers as a percent of pop.: 17.82%
• Patient to Physician Ratio: 1030:1
• Life Expectancy: 81.6 years
• Gen X Median Household Income: $184,523
• Median Real Estate Taxes: $8,925
• Sales Tax: 8.20%

2. Cary, North Carolina

• Median Home Value: $637,852
• Gen Xers moved in as a percentage of pop.: 0.74%
• Total Gen Xers as a percent of pop.: 14.26%
• Patient to Physician Ratio: 1160:1
• Life Expectancy: 81.2 years
• Gen X Median Household Income: $150,947
• Median Real Estate Taxes: $3,634
• Sales Tax: 7.00%

3. McKinney, Texas

• Median Home Value: $525,695
• Gen Xers moved in as a percentage of pop.: 1.34%
• Total Gen Xers as a percent of pop.: 13.12%
• Patient to Physician Ratio: 1030:1
• Life Expectancy: 81.6 years
• Gen X Median Household Income: $144,013
• Median Real Estate Taxes: $7,190
• Sales Tax: 8.20%

4. Plano, Texas

• Median Home Value: $533,918
• Gen Xers moved in as a percentage of pop.: 1.31%
• Total Gen Xers as a percent of pop.: 13.76%
• Patient to Physician Ratio: 1030:1
• Life Expectancy: 81.6 years
• Gen X Median Household Income: $130,778
• Median Real Estate Taxes: $6,534
• Sales Tax: 8.20%

5. Gilbert, Arizona

• Median Home Value: $586,011
• Gen Xers moved in as a percentage of pop.: 1.29%
• Total Gen Xers as a percent of pop.: 13.71%
• Patient to Physician Ratio: 1430:1
• Life Expectancy: 78.2 years
• Gen X Median Household Income: $132,719
• Median Real Estate Taxes: $2,301
• Sales Tax: 8.38%

Browse Gilbert homes for sale here!

The City Of Scottsdale, Arizona

Best Cities For Gen X Retirement (6-10)

6. Scottsdale, Arizona

• Median Home Value: $824,868
• Gen Xers moved in as a percentage of pop.: 2.58%
• Total Gen Xers as a percent of pop.: 13.68%
• Patient to Physician Ratio: 1430:1
• Life Expectancy: 78.2 years
• Gen X Median Household Income: $136,517
• Median Real Estate Taxes: $2,814
• Sales Tax: 8.38%

Browse Scottsdale homes for sale here!

7. Chandler, Arizona

• Median Home Value: $534,296
• Gen Xers moved in as a percentage of pop.: 1.15%
• Total Gen Xers as a percent of pop.: 13.91%
• Patient to Physician Ratio: 1430:1
• Life Expectancy: 78.2 years
• Gen X Median Household Income: $123,469
• Median Real Estate Taxes: $2,244
• Sales Tax: 8.38%

Browse Chandler homes for sale here!

8. Peoria, Arizona

• Median Home Value: $501,462
• Gen Xers moved in as a percentage of pop.: 1.53%
• Total Gen Xers as a percent of pop.: 12.82%
• Patient to Physician Ratio: 1430:1
• Life Expectancy: 78.2 years
• Gen X Median Household Income: $115,046
• Median Real Estate Taxes: $2,003
• Sales Tax: 8.38%

9. Cape Coral, Florida

• Median Home Value: $387,240
• Gen Xers moved in as a percentage of pop.: 1.39%
• Total Gen Xers as a percent of pop.: 11.55%
• Patient to Physician Ratio: 1500:1
• Life Expectancy: 81.2 years
• Gen X Median Household Income: $83,633
• Median Real Estate Taxes: $2,817
• Sales Tax: 7.00%

10. Grand Prairie, Texas

• Median Home Value: $328,007
• Gen Xers moved in as a percentage of pop.: 1.63%
• Total Gen Xers as a percent of pop.: 14.27%
• Patient to Physician Ratio: 1390:1
• Life Expectancy: 77.3 years
• Gen X Median Household Income: $96,002
• Median Real Estate Taxes: $4,461
• Sales Tax: 8.20%

Methodology Behind The Rankings

To determine the best cities for Gen Xers to retire, the study considered several key variables, from healthcare to economic factors. The following metrics were heavily weighted:

• Affordability: Home prices, median income, taxes.
• Safety: Property and violent crime rates.
• Healthcare: Patient-to-physician ratios and life expectancy.
• Demographics: How many Gen Xers already live there.

Cities with strong healthcare, financial stability, and a high percentage of Gen Xers ranked the highest in the analysis.

The City Of Chandler, Arizona

Conclusion

Retirement planning varies for each individual. Is not a one size fits all approach – particularly for Gen Xers who are currently at this stage of life. While some may consider delaying their retirement plans there are others who're keen to move to cities that provide affordability, security, and a sense of community. The choices made by this generation will significantly impact the landscape of American cities in the years ahead. Whether settling in the suburbs of Dallas or enjoying the streets of Scottsdale these cities offer attractive prospects, for a satisfying and financially stable retirement. Makes sense.

Are you looking to move to Arizona? If so, we here at William Luxury Homes would love to help. We are a boutique real estate firm here in 'The Valley'. Comprised of top-performing, passionate agents and brokers, we aim to provide 'A Luxury Experience For Everyone'. We enjoy studying the latest news and statistics. And we love to empower our clients. Speaking over 5 languages from around the world, we're here to help prospective buyers and sellers of real estate better understand the Greater Phoenix market. Should you have any questions, feel free to reach out at the below contact form. Thank you for your time.