They’re often referred to as the “forgotten generation,” so it might come as a surprise to some that Generation X is approaching retirement age.
Typically defined as those born between 1965 and 1980, the oldest Gen X cohorts are turning 59 this year—only three years away from being eligible to receive Social Security benefits. As they face empty nests and inch toward retirement many are considering where they want to live once they retire.
According to a nationwide survey conducted by ChamberofCommerce.org, more than 1 in 3 (39%) of Gen Xers plan to relocate when they retire.
But which cities are the best for Gen X retirement?
We took a closer look at the most ideal cities for Gen X retirement by analyzing key factors related to affordability, safety, health, and demographic appeal, including housing affordability, cost of living, tax friendliness, life expectancy, access to healthcare, migration, and crime rate. Our ranking analyzed these key metrics throughout the 170 most populous cities across the country to determine the best cities for Gen X retirement.
Key highlights:
Cities within the Dallas and Phoenix metropolitan area are prominently featured within the top 10 best cities to for Gen Xers to retire, including Frisco, Texas (No. 1), McKinney, Texas (No. 3), Plano, Texas (No. 4), Gilbert, Arizona (No. 5), Scottsdale, Arizona (No. 6), Chandler, Arizona (No. 7), and Peoria, Arizona (No. 8).
Scottsdale, Arizona; Orlando, Florida; and Fort Lauderdale, Florida, top the list of cities with the largest Gen X migration, according to the Census Bureau.
According to our nationwide survey, 25% of Americans and more than 1 in 4 (27%) Gen Xers have no retirement savings.
More than half of Americans (54%) and 39% of Gen Xers believe Social Security will be insolvent by the time they retire.
More than 1 in 3 (39%) of Gen Xers say they’ll never be able to retire.
As Gen X eyes retirement, which are the best cities for them to live out their golden years?
Cities located within Texas, Arizona, and Florida dominate the list of the most ideal places for Gen Xers to retire, according to our analysis. Specifically, the Dallas and Phoenix areas, which are home to eight of the top 10 cities on our list.
The Dallas-Fort Worth suburb of Frisco, Texas, tops the list, partly due to its large percentage of Gen Xers. Overall, Gen X accounts for 17.82% of the city’s population, which is more than any other city within our analysis. The average life expectancy among cities in our analysis is 78.5 years, but Frisco’s is considerably higher at 81.6 years, making this an ideal city for Gen Xers to live out their retirement years.
With the increase in remote work opportunities, Americans across the country have migrated to new cities seeking both a better quality of life and more affordable housing. We took a look at which cities have experienced the largest influx of Gen Xers by analyzing Census Bureau migration data for those aged 45 to 54.
Our analysis included the 170 largest cities across the country and found that Scottsdale, Arizona has been a magnet for Gen Xers. In 2022, which is the most recent data available, Scottsdale gained 6,215 Gen Xers, which increased the total percentage of Gen Xers to 13.68%.
Elsewhere, Orlando, Florida, experienced an influx of 7,923 Gen Xers, while Fort Lauderdale’s Gen X population increased by 4,507. Rounding out the top five were Hialeah, Florida (a suburb of Miami) and Henderson, Nevada (a suburb of Las Vegas).
Deciding where and when to retire can be complicated. According to our nationwide survey, the average age Gen Xers believe they’ll be able to retire is 67.5 years. However, more than 1 in 3 Americans surveyed (38%) and 39% of Gen Xers say they’ll never be able to retire.
It’s important to keep in mind that retirement is not a one-size-fits-all approach. Some may decide to hold off on retiring and continue saving, while others might opt to work part-time, start a small business or pursue a passion project during their golden years.
FOR A COMPLETE REVIEW OF TOP 50 CITIES, click on this link.
https://www.chamberofcommerce.org/best-cities-for-gen-x-retirement/
Cities with the Highest Gen X Population Growth
A look at the cities attracting the largest numbers of Gen X migrants
Rank
City, State
Population
Number of Gen Xers Moved In
Gen X Influx (% of Total Population)
Total Gen X Residents (% of Population)
1
Scottsdale, Arizona
243,027
6,215
2.58%
13.68%
2
Orlando, Florida
316,086
7,923
2.53%
12.82%
3
Fort Lauderdale, Florida
183,156
4,507
2.48%
14.20%
4
Hialeah, Florida
220,274
4,569
2.09%
15.96%
5
Henderson, Nevada
331,408
6,699
2.04%
13.41%
Sources: U.S. Census Bureau’s American Community Survey, Zillow, Tax Foundation, Internal Revenue Service, Council for Community and Economic Research, FBI Uniform Crime Reporting (UCR) Program, Social Security Administration, Pew Research Center
Fair Use: Feel free to use this data and research with proper attribution linking to this study.
