Best Cities for Homebuyers 55 and Older

What are the best cities for homebuyers 55 and older? An Opendoor survey ranked San Antonio, Texas, as the best aging-friendly city, with Charlotte, North Carolina, rounding out the top ten.

A senior couple sits on the floor with boxes, having moved.
(Image credit: Getty Images)

When it comes to catering to the housing needs of people 55 and up, some cities are better than others, particularly when it comes to finding a good supply of aging-friendly homes. So what are the best cities for homebuyers age 55 and up? A new report from Opendoor showed three cities in Texas leading the way, including San Antonio.

The report from Opendoor looked at the best cities in the U.S. with aging-friendly homes. An aging-friendly home should, at the minimum, have a bedroom and a full bathroom on the first floor — fewer steps to climb. Yet, less than half (40%) of U.S. homes have the most basic features to be considered aging-ready. 

About 43% of older households say their home doesn’t meet their basic accessibility needs, but only 6% plan to remodel their homes in the near future to improve their accessibility, likely due to high renovation costs.

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A tight spot for seniors

About 4.1 million Baby Boomers will turn 65 this year and every year through 2027. As of February 2024, they own around 32 million homes in the U.S. And, although the majority of these homeowners prefer to downsize in the next few years, according to the Opendoor report, they feel stuck in their current homes due to rising home prices, a competitive market or an unwillingness to give up their existing low low mortgage rate

Many Boomers whose homes have surged in value might also face tremendous capital gains tax bills when they sell, and smaller houses or apartments in the neighborhoods they’ve come to love are scarce. 

So, to help Boomers find a home that fits their lifestyle and needs, OpenDoor uncovered the ten best cities in the U.S. with aging-friendly homes. 

Top 10 aging-friendly cities in the U.S.

Overall, these top ten cities have a high percentage of homes available with features beneficial to an aging community, including single-story homes, newly built homes, and homes with accessible layouts, including first-floor living quarters. Texas cities claimed the first three spots in the report, with San Antonio, Houston and Dallas leading the charge, respectively.

1. San Antonio, TX

About 57% of homes in San Antonio are single-story, with a bedroom and bathroom on the first floor, and 62% are newly built, offering Boomers a place to live without the cost of renovations in the near future.

2. Houston, TX

Houston is a growing community with a diverse population. There are about 4,500 listings on Realtor.com for single-story homes with accessible layouts. The median home price in Houston is just over $349,000. 

3. Dallas, TX

The population of Dallas, Texas is currently 1,302,753, with active housing listings topping 22,000. About 10% or 2,200 of those listings are single-story homes and apartments. However, the median price of a home is about $431,000.

4. Phoenix, AZ

The Phoenix area has become a destination for retirees. In fact, Mesa, just outside the Phoenix metro area, saw a net influx of 4,453 people last year, over 50% more than any other city. At the state level, Arizona saw the second-highest influx of retirees, at 23,515. Largely due to the high cost of cooling, most homes in the Phoenix area are single-story.

5. Tucson, AZ

Like Phoenix, Tucson is growing in population. However, because of its much larger size, you’ll likely find a greater choice of housing in Phoenix, which can mean slightly lower home prices. Still, there are plenty of single-story homes to choose from in Tucson. 

6. Jacksonville, FL

Retirees flock to Florida for its warmer weather and sandy beaches. In fact, of the 338,000 Americans who relocated for retirement last year, Florida took the top spot. However, the cost of living in Florida has risen nearly 9% from a year ago, and getting insurance on a new home is expensive.

7. Charleston, SC

Charleston has a small-town appeal with good weather for most of the year and a pleasantly slow pace of living. However, if you’re planning to move to Charleston, you should know that the average cost of a home is around $520,000 (a 30% increase from last year alone). Also, flood insurance (which varies) is expensive.

8. Orlando, FL

Like Jacksonville, retirees moving to Orlando can expect sunshine and warm weather year-round. Property taxes and sales tax are only 7%. Groceries (food) are exempt from sales tax. However, the cost of living in Orlando has skyrocketed over the past two years, with a median home price of $407,000.

9. Las Vegas, NV

In 2023, 18.8% of all people relocating to Las Vegas did so for retirement, with 62.4% over age 65. Currently, Zillow lists 3,500 single-family homes for sale in Las Vegas. Many of those homes are newly built due to the influx of people moving to the area.

10. Charlotte, NC

Charlotte is one of the fastest-growing cities in the U.S. According to BestPlaces.net, Charlotte’s cost of living is 1.1% lower than the U.S. average, and the median home price is $301,300, making it an affordable option for retirees.

Priorities when moving

Many factors play into Baby Boomer’s decision to move, which may include: 

  • Getting the highest price (80%)
  • Selling quickly (55%)
  • Not having to do repairs (49%) 
  • Not haggling with buyers (34%)
  • Simplicity of the sale (30%)

Are you a Boomer considering moving but still unsure about one of the top ten aging-friendly cities listed here? Before making a decision, check out the Worst Places to Retire in the U.S.

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Kathryn Pomroy
Contributor

For the past 18+ years, Kathryn has highlighted the humanity in personal finance by shaping stories that identify the opportunities and obstacles in managing a person's finances. All the same, she’ll jump on other equally important topics if needed. Kathryn graduated with a degree in Journalism and lives in Duluth, Minnesota. She joined Kiplinger in 2023 as a contributor.