These four states remain top destinations for retirees, with Florida taking the number one spot again. The share of retirees moving to Florida was nearly 40 percent more than the other three states combined.
The top four states may be perennial favorites, but Nevada has the most cities on retirees' radar. In fact, five of the top ten cities for this group of movers were in Nevada, and Henderson was named number one. Previously the city has not cracked the top 10, but this year it emerged as top dog with net immigration of 2,341 seniors. According to SmartAsset, Nevada is considered retirement-friendly due to its lack of income tax. Las Vegas, the fifth most popular city, had net immigration of 1,320 seniors.
Despite no longer working, retirees are an important part of a local economy. They number in the millions and make up a large amount of consumer demand. As one example of their purchasing power, the Social Security Administration estimates that in 2018 it will pay out approximately $1 trillion in Social Security benefits, 72 percent of which will go to retirees. With that sort of money on the line where retirees decide to move for their retirement is an important consideration for cities across the country.
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