The allure of Southern living is drawing America’s older population, with many retirees relocating to Southern cities due to affordable housing and lower tax rates.
Adults aged 65 and older have increasingly moved to metropolitan areas, with a 9.4% increase from 2020 to 2023, according to the U.S. Census Bureau’s latest population estimates. Southern cities have seen the most significant growth in this age group, with Myrtle Beach, South Carolina, experiencing a 23.1% increase.
Texas leads with four cities in the top 10 relocation destinations for retirees, while North Carolina has three.
Following Myrtle Beach are Wilmington, North Carolina (+18.4%), and Raleigh, North Carolina (+18.3%), with College Station, Texas (+17.6%), and Austin, Texas (+17.3%) rounding out the top five.Boise City, Idaho (+17.1%), Charleston, South Carolina (+15.7%), Houston (+15.3%), Durham, North Carolina (+15.2%), and Dallas-Fort Worth, Texas, and Provo, Utah (both at +15.0%), complete the top 10.
Here’s a closer look at some of the most popular cities for Americans aged 65 and older, along with the median house prices in these areas.
Myrtle Beach, South Carolina
Median home list price: $315,000
Known for its holiday destination status, Myrtle Beach boasts world-renowned golf courses and 60 miles of beaches. Danielle Hale, senior economist at Realtor.com, notes that 85% of home shoppers in Myrtle Beach come from other markets, including New York, Charlotte, Atlanta, and Washington, D.C.
“With a typical home priced more than $100,000 below the U.S. median, housing dollars stretch further in Myrtle Beach,” Hale explains. Joel Barber, a real estate agent at The Advantage Group, adds that the city’s hospitable climate and affordable housing attract retirees.
Myrtle Beach’s property tax rate of 0.53% is one of the lowest in the country. The median household income is $50,558.
Wilmington, North Carolina
Median home list price: $489,900
Wilmington, located two hours from Raleigh and three hours from Myrtle Beach, offers a mild climate and an outdoor lifestyle at a modest cost. The city’s median household income is $63,835.
“People are tired of the cold and want milder winters,” says Chris Duggins, a real estate broker at Aimee and Co. “Many also find Florida too hot in the summer.” Wilmington’s growing popularity is evident, although job transfers sometimes draw residents to larger cities like Raleigh or Charlotte.
Raleigh, North Carolina
Median home list price: $523,340
Raleigh has become a technology hub, attracting younger families and, in turn, their retired parents. Ann Robinson, Compass team leader of distinctive homes in Raleigh, highlights the city’s appeal: “We have all four seasons and excellent medical care.”
Raleigh’s median household income is $75,424.
College Station, Texas
Median home list price: $380,000
Known for Texas A&M University, College Station offers cultural amenities like Broadway shows and concerts. “Former students often move back here to retire,” says Jordan Kleckley, owner of Brick and Parcel Real Estate Group.
College Station is also close to major health resources in Houston and Austin. The city’s median household income is $51,228.
Austin, Texas
Median home list price: $639,950
Austin’s culture and climate attract not only the younger generation but also retirees. The 65-plus demographic was the fastest-growing in Austin, according to 2020 census data. Additionally, 95.5% of property demand in Austin came from outside the county in early 2024.
Texas has recently introduced property tax breaks for the elderly and disabled. Austin’s median household income is $89,415.
As these cities demonstrate, retirees are finding attractive options outside traditional retirement destinations, driven by affordability, climate, and quality of life.
The post Retirees Relocating to These Surprising Cities first appeared on The MortgagePoint.
