Where should you live when you retire? It’s a highly nuanced question that will look different for everyone.
Most retirees live on a fixed income that relies, to some extent, on Social Security benefits. Some rely 100% on these benefits. Social Security benefits are calculated based on your earnings history, not where you live. That said, some cities offer supplemental benefits that can enhance Social Security earnings.
SmartAsset found the cities where people collect the highest Social Security checks, on average. Should you live in one of these places? Another nuanced question. To help you answer it — at least from a financial perspective — GOBankingRates found the cost of living, average home price and average rent price in each of these 10 cities.
Check Out: 41 States That Won’t Tax Social Security Benefits in 2025
Read Next: 4 Low-Risk Ways To Build Your Savings in 2025
Trending Now: Suze Orman’s Secret to a Wealthy Retirement–Have You Made This Money Move?
10. Irvine, California
Average Social Security income: $29,031
Cost of living, as compared to the national average: 64.9% higher
Average home price: $1,615,157
Average monthly rent price: $4,900
9. Bellevue, Washington
Average Social Security income: $29,715
Cost of living, as compared to the national average: 62% higher
Average home price: $1,585,848
Average monthly rent price: $3,100
Learn More: I’m Retired and Regret Claiming Social Security at 70 — Here’s Why
8. Ann Arbor, Michigan
Average Social Security income: $29,850
Cost of living, as compared to the national average: 4% higher
Average home price: $526,671
Average monthly rent price: $2,250
7. Highlands Ranch, Colorado
Average Social Security income: $30,367
Cost of living, as compared to the national average: 28% higher
Average home price: $744,266
Average monthly rent price: $3,000
6. Frisco, Texas
Average Social Security income: $30,393
Cost of living, as compared to the national average: On par
Average home price: $698,323
Average monthly rent price: $3,000
5. Centennial, Colorado
Average Social Security income: $30,570
Cost of living, as compared to the national average: 23% higher
Average home price: $677,267
Average monthly rent price: $2,850
4. Naperville, Illinois
Average Social Security income: $30,921
Cost of living, as compared to the national average: 35% higher
Average home price: $599,182
Average monthly rent price: $2,856
3. Cary, North Carolina
Average Social Security income: $31,147
Cost of living, as compared to the national average: 8% higher
Average home price: $643,612
Average monthly rent price: $2,278
2. Carmel, Indiana
Average Social Security income: $31,736
Cost of living, as compared to the national average: 6% higher
Average home price: $556,963
Average monthly rent price: $2,400
1. The Woodlands, Texas
Average Social Security income: $31,752
Cost of living, as compared to the national average: On par
Average home price: $314,506
Average monthly rent price: $2,750
Editor’s note: Home and rental price data was sourced from Zillow on June 5, 2025.
More From GOBankingRates
I’m a Realtor: This Is Why No One Wants To See Your Home
3 Things Retirees Should Stop Buying To Save Money Amid Tariffs
How Middle-Class Earners Are Quietly Becoming Millionaires — and How You Can, Too
7 Wealth-Building Shortcuts Proven To Add $1K to Your Wallet This Month
This article originally appeared on GOBankingRates.com: 10 Cities Where Social Security Benefits Are Highest: Should Retirees Move There?
