Experts Say These 9 Retirement Cities Could Become Unaffordable By 2030

If you're thinking about moving to a new place in retirement, you aren't alone. Many retirees decide to jump into a new destination in their golden years. But some of the most popular retirement cities are seeing higher prices.

As you build a retirement plan, understanding your housing costs matters. We spoke to experts to unravel which popular retirement cities might be unaffordable by 2030.

Editor's note: All housing data comes from Zillow, unless otherwise stated.

Scottsdale, Arizona

Average home value: $858,022

A popular destination for retirees across the country, Scottsdale offers a sunny, golden years retreat. But housing costs are starting to make this dream unaffordable for many retirees.

"The median home price has moved well past what a fixed-income retiree can absorb, and property taxes and HOA costs in the luxury corridor keep climbing," says John Gluch, real estate agent at Gluch Group, "Retirees who didn't buy here five years ago are increasingly getting pushed to the East Valley or further out."

Henderson, Nevada

Average home value: $486,186

Many retirees head to Nevada, lured by the promise of no state income tax and endless entertainment. Even though there may be tax savings on the table, the costs of living in the Silver State can add up in other ways.

"Vegas adjacency and no state income tax made this a retirement magnet," says Gluch, "That attention drove prices up fast, and the in-migration hasn't slowed enough to stabilize costs."

Sarasota, Florida

Average home value: $412,112

Like Nevada, the Sunshine State doesn't have a state income tax. For decades, retirees have made their way to South Florida, including places like Sarasota. But as more people move in, housing prices have exploded in some parts of the state.

"The combination of post-pandemic demand, insurance premium explosions, and HOA fee increases is making this one unworkable for middle-income retirees faster than the headline prices suggest," says Gluch.

Asheville, North Carolina

Average home value: $460,994

For retirees seeking beautiful mountain vistas and a town packed with charm, Asheville became a top destination in recent decades.

"It was the affordable mountain alternative. It isn't anymore," says Gluch, "Remote worker migration drove appreciation that retirement income can't keep pace with, and the recovery costs from recent storm damage are adding another layer."

Palm Springs, California

Average home value: $624,876

As more retirees seek out a slice of paradise in the desert, Palm Springs has gained in popularity. It's not only retirees who love Palm Springs, but short-term rentals for vacationers have also put pressure on the housing market in the area. The mix has led to rising home prices that many retirees didn't plan for.

"Desert retirement appeal plus short-term rental speculation has compressed inventory and driven prices beyond what most retirees budgeted for when they were planning 10 years out," says Gluch.

Wilmington, North Carolina

Average home value: $416,159

Wilmington is often pitched as an affordable retirement destination, according to Ryan Fitzgerald, real estate broker at Raleigh Realty.

But when you consider underlying trends, "including a lack of buildable land, an influx of residents from expensive states and persistent activity by cash buyers," says Fitzgerald, affordability is already waning.

Boise, Idaho

Average home value: $499,492

Before the pandemic, many retirees flocked to Boise for its mountain views at an affordable price point. But during the pandemic and after, remote workers took the opportunity to jump into Boise's housing market. Predictably, the increased demand put pressure on the limited housing supply.

"A decade ago, pensioners could live reasonably comfortably on a $2,500 social security check," says Andrew Latham, CFP and author of Be Your Own Financial Planner. "Now they are likely to burn through savings just keeping up with housing costs."

Lisbon, Portugal

Average home value: $2,489 per square meter (according to Portugal Homes)

For several years, retirees flocking to Portugal, specifically the capital city of Lisbon, splashed across the headlines. Many remote workers and retirees alike headed to this idyllic city in search of a rich life on a budget. Unfortunately, the incoming surge of newcomers pushed housing costs significantly higher.

"Golden visas and remote workers have pushed Lisbon rents up roughly 80% between 2018 and 2024," says Latham.

Austin, Texas

Average home value: $508,530

At first glance, Lone Star State living seems easier on the budget due to a lack of state income taxes. While you won't face state income taxes in Austin, relatively high property taxes and a tough housing market might make this city unaffordable for many retirees in the coming years.

"Austin's no state income tax sounds great until you realize property tax rate hovers around 1.8% and home values have roughly doubled since 2018," says Latham.

Bottom line

If you have your eye on a particular retirement destination that's seeing rising housing prices, it could make sense to lock in a home purchase there ahead of schedule. But for some hoping to stay on track for retirement, it might be better to seek out a different destination that fits into your finances better.

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