According to a new study, the top 10 fastest-growing retirement hot spots in America are Goodyear, Arizona to Fort Myers, Florida.

Americans often consider Florida as their top choice for retirement, according to a June GOBankingRates study of the fastest-growing retirement hotspots in the U.S.

Florida, known as the Sunshine State, was ranked among the top 10 retirement hot spots in a study and also earned 12 spots on the top 50 list.

GOBankingRates analyzed every US city that met specific criteria: a population of at least 7,500 people aged 65+ and a higher 65+ population than the national average of 16.5%.

The data used in the study was obtained from the 2022, 2021, and 2017 American Community Surveys conducted by the U.S. Census Bureau.

No. 1 retirement hot spot in America: Goodyear, Ariz.

The study found that Goodyear, Arizona, had the highest rate of population growth among retirement towns in the U.S.

• The percentage increase in the retirement age population of individuals aged 65 and above over the past 5 years is 61%.
• 1-year percentage increase in population of people over 65: 11%
• 2022 percentage of the population who are 65 and older: 18%

Phoenix's downtown is approximately 20 miles away from Goodyear, a suburb located just outside the city.

According to PayScale, the cost of living in Goodyear is 13% higher than the national average, with housing expenses being 57% higher and utility prices being only 3% higher.

The national average for transportation costs, including bus fares and gas prices, is exceeded by a 7% increase.

The U.S. Census Bureau ranks Goodyear as one of the fastest-growing cities in the country, with an average home value of $485,052, up 2.6% from the previous year.

The city is known as Goodyear, after the Goodyear Tire and Rubber Company, according to its website. It boasts over 300 days of sunshine and serves as the Spring Training and player development home for Major League Baseball's Cleveland Guardians and Cincinnati Reds.

Top 10 retirement hot spots in America

1. Goodyear, Ariz.
2. Sugar Land, Texas
3. Clermont, Fla
4. El Dorado Hills, Calif.
5. North Port, Fla
6. Gallatin, Tenn.
7. Fort Myers, Fla
8. Peoria, Ariz.
9. Longmont, Colo.
10. Vero Beach South, Fla

According to GoBankingRates, Sugar Land, Texas, is the second-fastest growing retirement hot spot in the U.S.

The study found that Sugar Land had a:

• The percentage increase in the retirement age population of individuals aged 65 and above over the past 5 years has been 58%.
• 1-year percentage increase in population of people over 65: 9%
• 2022 percentage of the population who are 65 and older: 18%

Sugar Land is situated approximately 19 miles from downtown Houston and is part of the Houston-The Woodlands-Sugar Land metropolitan area.

Sugar Land's cost of living is 21% higher than the national average, with housing expenses being 58% higher and utility prices being 1% lower.

The cost of transportation, including bus fares and gas prices, is 12% lower than the national average.

Over the past year, the average Sugar Land home value has increased by 4.9%, reaching a value of $454,245.

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