Arizona Retirement Trends: 10 Top Locations for Retirees in 2024
Arizona has long been known as a haven for retirees, and rightfully so. From its warm weather to its plentiful recreation opportunities, the Valley of the Sun has a lot to offer seniors looking for an idyllic lifestyle. Whether you’re looking for the amenities available in America’s fifth-largest city and its suburbs — that being Phoenix — or you prefer a more natural setting, you can find it in Arizona.
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While on an overall basis, the state isn’t one of the cheapest in the country, there’s a wide range of neighborhoods you can choose from that you can match to your retirement budget. With that in mind, here are some of the top locations for Arizona retirees in 2024.
Paradise Valley
Average home value: $3,328,470
Average rent: $15,000
Population: 12,672
Cost of living score: 113
If you’re looking for a luxury retirement in Arizona, you might as well start at the top with Paradise Valley. Rents and average home values are sky-high, and the cost of living is well above the national average. But if you can afford it, Paradise Valley certainly lives up to its name. Phoenix’s most affluent suburb “sets the benchmark for a secluded, upscale town,” according to Williams Luxury Homes.
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Green Valley
Average home value: $297,247
Average rent: $1,600
Population: 20,937
Cost of living score: 97
Niche calls Green Valley the No. 2 place to retire in all of Arizona and with good reason. For starters, the city is an over-55 retirement community, meaning its amenities cater to retirees. In addition to its low cost of living, about 3% below the national average, housing is very affordable.
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Sun City West
Average home value: $392,325
Average rent: $2,000
Population: 26,639
Cost of living score: 113
Sun City West has a very high cost of living, but when it comes to housing, it’s actually quite affordable. Average home values are just a shade above the national average, while rents come in at $2,000 on average. According to Niche, it’s the seventh-best place to retire in Arizona.
Scottsdale
Average home value: $807,104
Average rent: $3,000
Population: 240,537
Cost of living score: 113
In addition to luxury amenities like premier golf courses, gourmet restaurants and serene natural beauty, Scottsdale boasts the city’s largest city-owned wilderness preserver, an Old West town, and the highest concentration of spas per capita in the nation, according to Williams Luxury Homes. But it costs a pretty penny to live there, with rents, home prices and a cost of living far above the national average.
Benson
Average home value: $244,176
Average rent: $738
Population: 5,318
Cost of living score: 84.8
Benson could be a good option for retirees looking for small-town living on the cheap, with a tiny population and a cost of living more than 15% below the national average. The town has a high percentage of retirees and is the No. 4 suburb in all of Arizona to buy a home, according to Niche.
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Carefree
Average home value: $1,245,971
Average rent: $4,500
Population: 3,671
Cost of living score: 113
Carefree is an upscale retirement community in the suburbs of Phoenix. The median age of city residents is 65, far above the Arizona average of about 39. Its 3,000-plus residents are scattered across town with a density of just 418 people per square mile.
Oro Valley
Average home value: $503,474
Average rent: $2,475
Population: 47,053
Cost of living score: 97
Oro Valley has healthy home values, more than $100,000 above the national average, but it still costs about 3% less to live there than in the average American city. The suburb of Tucson has a sparse suburban feel, according to Niche, and is a family-oriented city. It ranks highly in terms of recreational opportunities and safety.
Lake Havasu City
Average home value: $465,808
Average rent: $1,900
Population: 57,294
Cost of living score: 100.1
Lake Havasu City might be known as a popular spring break destination, but it’s also a great option for retirees. With over 300 days of sunshine per year and plenty to do outdoors, from fishing and boating to kayaking and golfing, Lake Havasu City is an ideal place for the active senior. With the exception of above-average housing prices, the cost of living is right in line with the national average, making it accessible to seniors trying to stretch their budgets.
Catalina Foothills
Average home value: $726,417
Average rent: $1,875
Population: 50,573
Cost of living score: 97
If you’re renting in the Catalina Foothills, you’re getting a good deal, as it remains reasonable even though average home values are nearly double the U.S. average. The Tucson suburb is a safe, upscale area with many of the recreational and weather-related benefits that are available across Arizona. In fact, Niche dubs the Catalina Foothills the No. 1 overall place to live in all of Arizona, based on its nightlife, school districts and family-friendly environment. Even with all of these benefits, the cost of living in the city is actually 3% below the national average.
Litchfield Park
Average home value: $532,985
Average rent: $2,255
Population: 6,794
Cost of living score: 113
Litchfield Park is a small community on the outskirts of Phoenix. The city is famous for the Wigwam Golf Resort and Spa but also boasts a beautiful environment full of parks that are safe for everyone to visit. There are also a large number of retirees. Home prices are elevated but not to the levels of the swankier cities in the state, and lots are large.
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This article originally appeared on GOBankingRates.com: Arizona Retirement Trends: 10 Top Locations for Retirees in 2024
