One big advantage of having a lot of money is that you can afford to live just about anywhere you want to.
For wealthy American retirees, that usually means moving to upscale neighborhoods in thriving, warm-weather cities. Here’s a look at six cities where the wealthy are moving to spend their retirement years. Home prices come from Zillow as of Dec. 31, 2025.
Austin, Texas
- Most expensive neighborhoods: Barton Creek, Westlake Hills, Tarrytown
- Average home price, Barton Creek: $2.2 million
Texas has become a magnet for wealthy retirees partly because residents there don’t have to pay state income taxes or estate/inheritance taxes (though its property taxes are among the highest in the country, per Rocket Mortgage).
The lack of an income tax is particularly appealing to retirees with millions of dollars in income-generating assets, according to Brady Lochte, a fee-only fiduciary financial advisor and founder of Austin-based Axon Capital Management.
“The state tax savings alone can easily exceed $50,000 to $100,000 annually compared to high-tax states like California or New York,” he told GOBankingRates.
Austin’s advantages include access to a thriving music and cultural scene, a major international airport, moderate weather, plenty of outdoor recreation and “excellent medical facilities,” Lochte said.
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Naples, Florida
- Most expensive neighborhoods: Port Royal, Aqualane Shores, Gordon Drive Estates
- Average home price, Port Royal: $13.9 million
Like Texas, Florida is a top destination for wealthy retirees because there’s no state income tax.
Naples offers the added benefit of a “strong private banking and advisory presence” that can help wealthy retirees navigate “complex” estate and charitable planning, said Dr. Steven Crane, founder and financial planner at Financial Legacy Builders.
“The city’s high-end housing market and private club communities also provide both exclusivity and long-term asset stability,” he told GBR.
Lochte also listed Naples as a top retirement destination for the wealthy, citing its upscale golf communities and “retiree-oriented infrastructure.”
Palm Beach, Florida
- Most expensive neighborhoods: West Palm Beach, Palm Beach, Wellington
- Average home price, Palm Beach: $2 million
Palm Beach is often mentioned as a top retirement destination for the wealthy because of its “long established luxury ecosystem,” Lochte said.
That ecosystem includes plenty of upscale private clubs, waterfront living and high-end medical facilities.
San Diego, California
- Most expensive neighborhoods: Rancho Santa Fe, La Jolla, Del Mar
- Average home price, Rancho Santa Fe: $4.2 million
Although taxes are high in California, San Diego continues to draw wealthy retirees because of its “unmatched climate, coastal lifestyle and strong real estate fundamentals,” according to Crane.
“For many affluent retirees, home equity appreciation and access to top-tier healthcare systems outweigh tax concerns,” he said. “California also offers robust professional services, making complex estate, tax and investment planning easier to manage in one place.”
Scottsdale, Arizona
- Most expensive neighborhoods: Silverleaf, Desert Mountain, Estancia
- Average home price, Estancia: $4.2 million
Scottsdale is well known as a favorite retirement destination because of its warm climate, abundance of golf courses and outdoor lifestyle.
“It also benefits from a deep network of medical providers and luxury housing options designed around low maintenance living,” Lochte added.
Crane cited Scottdale’s “tax predictability,” access to excellent healthcare and stable real estate market adding to the Southwest city’s appeal.
“Arizona’s relatively moderate tax structure and favorable treatment of retirement income make it attractive from a planning standpoint,” Crane said. “Luxury single-level homes and master-planned communities also support long-term aging-in-place strategies.”
Tampa, Florida
- Most expensive neighborhoods: Parkland Estates, Sunset Park, Palma Ceia
- Average home price, Parkland Estates: $1.6 million
In addition to a favorable tax and estate planning environment, Florida boasts “strong asset protection laws,” Crane said. As for Tampa itself — he mentions the city’s access to waterfront living, modern healthcare facilities and “relatively affordable” luxury housing.
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This article originally appeared on GOBankingRates.com: 6 Cities Where the Wealthy Are Moving To Spend Their Retirement Years
