Americans looking to retire this year may be considering relocating to a new city that allows their retirement savings to go further, and a new analysis by GOBankingRates spotlights five cities to consider.

The amount an individual or couple needs to have saved to retire can vary significantly across different parts of the country. 

A recent GOBankingRates report noted that the amount needed to retire in Oklahoma is $735,284, whereas the figure for Arizona would be $1,110,019 and illustrates how those amounts may differ depending on the location.

GOBankingRates identified five communities that people retiring in 2026 should consider given the cost of living, housing prices, quality of life and other amenities for seniors.

ONE TYPE OF PROPERTY IS QUIETLY SAVING AMERICANS THOUSANDS OF DOLLARS

Midland, Michigan

Main Street in Midland, Michigan. (Getty Images)

The low cost of living is a key reason Midland topped the rankings, as the community has a median home price of around $206,000 – well below the national average of about $360,000 which gives retirees the opportunity to save on housing costs.

Located inland from Saginaw Bay, Midland has nearly 43,000 residents and has been noted for its walkability and access to nature, with the area also experiencing diverse seasons in Michigan’s climate to allow locals to take part in winter activities. Midland topped U.S. News & World Report’s rankings of the best communities for retirees.

Homosassa Springs, Florida

A view of Homosassa beach in Homosassa, Florida. (Getty Images)

Florida is a popular destination for retirees and the small community of Homosassa Springs ranked highly for its affordability as well as its location on the state’s western coast north of Tampa.

Homosassa Springs also has low housing costs, with a median price of about $220,000, while also offering easy access to the coast along with the warmer climate and no state income taxes.

HOW MUCH DO YOU NEED TO RETIRE? A STATE-BY-STATE BREAKDOWN

The Woodlands, Texas

A waterway winding through the business district of The Woodlands, Texas. (Getty Images)

Located north of Houston, The Woodlands is near the city’s world-class healthcare facilities, a range of housing options and also low tax burdens with Texas not having a state income tax.

The cost of living is relatively higher than the smaller communities at the top of the list, with the suburb’s median home value coming in at $474,000, above the national average.

Rio Rancho, New Mexico

A view of Sandia Mountain with the expanding sprawl of Albuquerque’s suburb of Rio Rancho in the foreground. (Getty Images)

New Mexico is known for its dry, sunny weather, which makes it an appealing destination for retirees – particularly those who enjoy outdoor recreation. 

Rio Rancho is a suburb of Albuquerque and is near healthcare facilities and is relatively affordable in terms of housing, with a median home value of $310,000.

RETIREMENT ‘MAGIC NUMBER’ JUMPS AS AMERICANS GROW ANXIOUS ABOUT THEIR FINANCIAL FUTURES

Asheville, North Carolina

Asheville, North Carolina, made the list of top retirement destinations in 2026. (iStock)

Located in the mountainous western portion of North Carolina, Asheville has around 95,000 residents and offers residents access to amenities found in smaller metro areas along with access to outdoor activities and healthcare.

The median home price in Asheville is listed at $442,000 according to Redfin, so housing is relatively affordable even though it may be less so than other locations on the list.

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The 10-year Treasury yield, the benchmark for global borrowing costs, climbed to its highest level since February 2025 earlier in the session as continued worries about the disruption of oil supplies stoked concerns that high inflation would keep borrowing costs elevated. U.S. crude settled up ‌more than 3% after ⁠a ⁠volatile session. Oil pared gains after settlement when U.S. President Donald Trump posted on social media that he was holding off on a planned military attack on Iran scheduled for Tuesday, ​while efforts continued to reach a deal. But he added the United States was ready to resume attacks in the absence of a deal.

“It seems ​like the one issue that’s been moving markets on a day-to-day basis is oil prices. The main variable is the blockade on the Strait of Hormuz that pushes oil higher and increases the risk in the longer run of inflation expectations becoming unanchored. That lifts Treasury ​yields,” said Burns McKinney, portfolio manager at NFJ Investment Group in Dallas, adding that higher ⁠yields are “particularly bad ‌for long-duration stocks, like the tech sector and a lot of the high-flying chip stocks.”

RALLY PAUSE

The Nasdaq posted ​its second straight ​decline as investors took a break from a rally that started in late March. The S&P closed Thursday’s ⁠session up more than 18% from its March 30 finish, which was its lowest ​close since the Iran war began in late February. In the same timeframe, the Nasdaq gained ​28% as enthusiasm about artificial intelligence and solid technology earnings helped investors look past inflationary threats.

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“There’s concern about the rally we’ve had in a short period of time, and there’s some profit taking,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder in New York.
According to preliminary data, the S&P 500 lost 4.90 points, or 0.07%, to end at 7,403.60 points, while the Nasdaq Composite lost 135.79 points, or 0.52%, to 26,089.35. The Dow Jones Industrial Average rose 159.52 points, or 0.33%, to 49,688.25.The heavyweight information technology sector led declines among the S&P ‌500’s 11 major industry sectors with chip stocks among the biggest drags. Energy was the biggest sector gainer during the session.

Traders are pricing in a 37.8% chance that the U.S. Federal Reserve will raise interest rates by ​25 basis points ​by year-end, according to CME’s FedWatch tool, ⁠after last week’s hotter-than-expected inflation readings.

NVIDIA RESULTS IN FOCUS

The world’s most valuable company, Nvidia, is scheduled to report results on Wednesday.

Expectations are high for the company, whose shares have risen sharply from a March low, while the Philadelphia SE Semiconductor Index has surged this year on ​strong demand for AI-related chips.

Walmart, the world’s largest retailer, is also expected to report earnings this week, which could offer a clearer picture of how U.S. consumers are coping with high energy prices and broader inflation.

Dominion Energy shares jumped after power firm NextEra Energy said it would buy the utility in an all-stock deal valued at about $66.8 billion. NextEra’s shares fell. Shares of Regeneron tumbled as the drugmaker’s experimental treatment missed the main goal in a late-stage trial in patients with advanced melanoma, a type of skin cancer.