A sunny climate and beautiful beaches might sound perfect for retirement, but where you choose to live can affect much more than the weather you enjoy. Housing costs, access to doctors, opportunities to meet people, and the day-to-day cost of living can all play a part in how happy you feel after leaving work.
A 2026 study by SoFi ranked 200 of the largest U.S. metropolitan areas using 13 measures tied to financial security, health, and social well-being. The researchers considered factors such as housing expenses, health care access, walkability, life expectancy, taxes, and the percentage of residents age 65 and older.
The results may surprise anyone who assumes the best retirement spots are all in the South. Seven of the 10 highest-ranked cities are in the Northeast or Upper Midwest, with places known for four-season weather earning some of the top spots.
Here are the 10 cities that ranked highest, along with a look at what each one offers retirees.
1. Portland, Maine
Portland took first place with a score of 69.31, earning high marks for health care and social well-being. Nearly one-quarter of the area’s residents are 65 or older, and its walkable downtown gives retirees plenty of chances to meet people and enjoy local events.
The city has about 166 primary care physicians per 100,000 residents and a life expectancy of 79.5 years. Housing and everyday expenses may be a hurdle, though, since the cost of living is 12.5% above the national average.
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2. Madison, Wisconsin
Madison offers retirees lakes, walking trails, cultural events, and the energy of a college town without the price tag of many larger cities. Its cost of living is about 3.4% above the national average, making it a relatively manageable option among the top-ranked cities.
Health care also helped Madison land in second place, with around 128 primary care physicians per 100,000 residents. Life expectancy in the area is about 80.8 years, adding to its appeal for people who want an active retirement.
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3. Appleton, Wisconsin
Appleton stands out for its lower living costs, ranking second among all 200 metro areas in SoFi’s financial category. Its cost of living is 11.9% below the national average, which may help retirees make their savings and retirement income go further.
The Wisconsin city also has parks, walking trails, and a downtown area that’s easy to explore on foot. Life expectancy is around 79 years, giving Appleton a mix of affordability and everyday amenities.
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4. Manchester, New Hampshire
Manchester ranked fourth overall and fourth for financial security, with New Hampshire’s tax structure contributing to its score. Retirees can enjoy a New England setting while keeping Boston within reach for major events, shopping, and specialized medical services.
A high financial ranking doesn’t mean every household will find the city inexpensive. SoFi’s financial category also considers housing costs, household income, senior poverty, cost of living, and state and local taxes.
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5. Sioux Falls, South Dakota
Sioux Falls earned the top spot for financial security among all 200 metro areas in the study. Its cost of living is 9.3% below the national average, and South Dakota has no individual state income tax.
The city also scored well for opportunities to build social connections, helping it reach fifth place overall. Its lower ranking in the health category shows that a city can score well overall without leading every individual category.
6. Minneapolis, Minnesota
Minneapolis may suit retirees who still want the variety of city life, from museums and theaters to restaurants and live music. Its Walk Score of 71.4 also makes it one of the more walkable cities in the top 10.
The area has about 120 primary care physicians per 100,000 residents and a life expectancy of 79.5 years. Living costs are higher than in some other cities on the list, running about 7.2% above the national average.
7. Asheville, North Carolina
Asheville is the only Southern city in the top 10, with Blue Ridge Mountain views, outdoor recreation, and an established arts scene. About 24.2% of the area’s residents are 65 or older, which may appeal to retirees hoping to find neighbors in a similar stage of life.
Asheville ranked 14th for health, with roughly 141 primary care physicians per 100,000 residents. The cost of living is about 5.8% above the national average, so retirees will need to weigh the area’s lifestyle benefits against their budget.
8. Ann Arbor, Michigan
Ann Arbor earned high marks for health care access, with roughly 178 primary care physicians per 100,000 residents; the highest rate among the 200 metro areas in the study. The city is home to the University of Michigan, which adds access to a major academic medical center and a wide range of cultural and educational activities.
Life expectancy in the area is about 80.5 years, another point in its favor. Ann Arbor ranked 124th in the financial category, though, so the high overall placement may not translate into an affordable retirement for every household.
9. Washington, D.C.
Washington, D.C., may seem like an unusual retirement pick for anyone watching their expenses, but the city’s SoFi ranking reflects more than housing and everyday costs. It received the study’s highest walkability score and social association rate, with museums, public transportation, and varied neighborhoods giving retirees plenty to do.
Those benefits come with a steep price tag, since the area’s cost of living is 51.9% above the national average. Washington ranked 173rd for financial security but still placed ninth overall, showing how highly it scored in other parts of the study.
10. Boulder, Colorado
Boulder rounds out the list with mountain scenery, biking routes, hiking trails, and plenty of ways to spend time outdoors. Its life expectancy of 82.3 years was among the highest in the study, adding to the city’s appeal for retirees who value an active lifestyle.
The main drawback is cost, with living expenses 41.3% above the national average and a 138th-place finish in the financial category. High health and social well-being scores helped Boulder make the top 10, but retirees should look closely at housing prices and their long-term budgets before making a move.
