The 12 Most Expensive Luxury Retirement Cities in America in 2024

“Luxury” means different things to different people, especially when it comes to where you live. But as a general rule, it typically means you live near upscale amenities, stunning scenery and pricey homes . For retirees, you can add warm weather to the mix, though that’s not always a deal breaker.

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You don’t necessarily need to spend a lot of money to enjoy a luxe lifestyle , but it certainly helps. Unfortunately, most Americans don’t have nearly enough savings to finance a luxurious retirement in an expensive city.

As GOBankingRates previously reported , a recent Prudential Financial survey found that 55-year-olds have median retirement savings of less than $50,000, which is “significantly short of the recommended goal of having eight times one’s annual income saved by this age.”

A nest egg of $50,000 is not enough to retire comfortably in most U.S. cities, let alone pricey ones that offer access to a luxurious lifestyle. No matter where you live, you need at least $500,000 to retire comfortably, even if you wait until age 70 to retire. In some places, you need more than $1 million.

Research from GOBankingRates looked at all U.S. cities with populations over 15,000 and 65-plus populations of more than 25% to find some of the most expensive cities to retire in. Here were some of the key findings:

• California is home to the largest number of expensive retirement cities, while Florida ranks second.
• Naples, Florida, has the largest percentage of 65+ residents of any area on the list. More than half (55%) of its population is age 65 or older.
• The median income in the richest retirement town in America is $166,747.

When it comes to expensive retirement cities that also throw in large doses of luxury, you need to find cities or towns with easy access to high-end shops, restaurants and resort areas, as well as amenities that might range from award-winning golf courses to Instagram-ready beaches or mountains.

Here’s a look at 12 of the most expensive luxury retirement cities in America based on home prices and cost of living. Home prices are from the latest Realtor.com data, while cost-of-living scores are from BestPlaces . Any score above 100 means the cost of living is higher than the U.S. average.

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Boulder, Colorado

• Median listing home price : $1.2 million
• Cost-of-living index score: 141.3

The Hamptons, New York

• Median listing home price : $2.8 million
• Cost-of-living index score: 147.1

Honolulu, Hawaii

• Median listing home price : $630,000
• Cost-of-living index score: 171.5

Los Angeles, California

• Median listing home price : $1.2 million
• Cost-of-living index score: 161.7

Miami, Florida

• Median listing home price : $655,000
• Cost-of-living index score: 118.9

Naples, Florida

• Median listing home price : $750,000
• Cost-of-living index score: 113

San Diego, California

• Median listing home price : $998,000
• Cost-of-living index score: 154.9

San Francisco, California

• Median listing home price : $1.2 million
• Cost-of-living index score: 245.5

San Jose, California

• Median listing home price : $1.3 million
• Cost-of-living index score: 231

Santa Barbara, California

• Median listing home price : $2.6 million
• Cost-of-living index score: 154.7

Santa Rosa, California

• Median listing home price : $875,000
• Cost-of-living index score: 151.8

Seattle, Washington

• Median listing home price : $800,000
• Cost-of-living index score: 158.1

This article originally appeared on GOBankingRates.com : The 12 Most Expensive Luxury Retirement Cities in America in 2024