Five of the top 10 retirement towns in America are located in Florida.

In 2024, GOBankingRates ranked the top retirement towns in the U.S. for the middle class.

In order to be eligible for this research, a city must have a minimum population of 10,000 residents, with at least 25% of the population being aged 65 and above.

The following factors were then considered for each city:

• Total population
• Population aged 65 and over
• Total households
• Median household income
• Number of households receiving Social Security benefits
• Number of households receiving retirement income
• Average Social Security benefits for households receiving them
• Average retirement income for households receiving it

The report utilizes various data sources, including the U.S. Census American Community Survey and Zillow's Home Value Index, among others.

According to a study by GOBankingRates, the middle class in America will have the greatest success retiring in Florida, Ohio, and Arizona. In the Sunshine State alone, five cities rank among the top 10.

Florida has long been a popular destination for retirees due to its affordability, according to Ray Marek, GOBankingRates' media outreach manager, who shared this information with CNBC Make It.

Although the cost of living in Florida is increasing, Florida remains a popular destination for middle-class retirees seeking a balance between affordability and quality of life, according to Marek.

The best retirement town for the middle class: The Villages, Florida

The Villages is located in central Florida and is northwest of Orlando.

According to GOBankingRates, the annual cost of living in The Villages is $48,808 and the median household income is $73,415.

According to GoBankingRates, the Villages had the highest percentage of residents receiving Social Security benefits, and the average benefit was $30,704, one of the highest in the study.

Marek added that the Florida town had a high livability score of 70 out of 100.

The Villages is one of the fastest-growing metros in the US, with a population increase of 4.7% from July 1, 2022, to July 1, 2023, according to Census data.

According to Zillow, the average value for a single-family home in The Villages is $408,342.

The 10 best retirement towns for America's middle class

1. The Villages, Fla.
2. Green Valley City, Ariz.
3. Sun City West, Ariz.
4. Hot Springs Village, Ark.
5. Venice, Fla.
6. Sun City, Ariz.
7. Sun City Center, Fla.
8. Punta Gorda, Fla.
9. Mesquite, Nev.
10. Englewood, Fla.

Green Valley City, Arizona, ranks as the second-best retirement destination in the United States for the middle class.

In Green Valley City, Arizona, 85% of households receive Social Security income, the third highest in the study, with an average social security benefit of $27,102.

While the annual cost of living in Green Valley City is $41,989, the household median income is $57,785, according to a study.

Tucson is 20 miles north of Green Valley City, which is known for its numerous retirement communities. Additionally, Arizona does not impose state income tax on social security benefits, making it an attractive option for retirees looking to spend their golden years in the state.

The community center in Green Valley hosts numerous concerts yearly, while the area boasts several public golf courses.

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