Bay Area Retirement Haven: Cities Ranked Among Wealthiest and Safest in the US!
Two Bay Area cities have been recognized as some of the best places to retire in the United States. According to a recent study by GOBankingRates, Walnut Creek and Novato are among the top-ranked cities for retirees, praised for their safety, wealth, and overall livability.
Bay Area Cities Stand Out for Retirees
In the study, Walnut Creek earned the 16th spot, while Novato ranked 18th on the list of the “safest and wealthiest” places to retire. These suburban areas in California are highlighted for their appealing retirement income averages, home values, and low crime rates, making them attractive destinations for retirees.
Here’s how these two cities performed in the study:
Walnut Creek
- Violent Crime Rate: 2.94 per 1,000 residents
- Property Crime Rate: 27.64 per 1,000 residents
- Average Retirement Income (65+): $52,918
- Average Home Value: $1,441,223
- Livability Score: 77
Novato
- Violent Crime Rate: 3.17 per 1,000 residents
- Property Crime Rate: 16.78 per 1,000 residents
- Average Retirement Income (65+): $47,540
- Average Home Value: $1,190,655
- Livability Score: 71
National Leader: Oro Valley, Arizona
While Walnut Creek and Novato secured top spots, the number one city for retirees is Oro Valley, Arizona. With a significantly lower violent crime rate of 0.57 per 1,000 residents and a property crime rate of 11.41, it boasts safety as a major draw.
The city also features a livability score of 81 and an average retirement income of $52,098. Additionally, its more affordable home value of $525,380 makes it an appealing choice for retirees seeking a balance of safety and cost.
California’s Dominance in the Rankings
California cities featured prominently in the study, with 12 out of the top 30 cities located in the Golden State—the most of any state. Here are the other California cities included in the rankings:
- Lincoln (No. 8)
- Laguna Woods (No. 15)
- La Quinta (No. 19)
- Seal Beach (No. 20)
- Rancho Mirage (No. 22)
- Cerritos (No. 24)
- Banning (No. 28)
- Palm Desert (No. 29)
- Palm Springs (No. 30)
Study Methodology: What Makes a City Ideal for Retirement?
GOBankingRates conducted the study by analyzing cities where at least 25% of the population is aged 65 or older. Using data from the U.S. Census American Community Survey, Zillow, and AreaVibes, the study focused on factors such as:
- Safety: Crime rates (violent and property crimes per 1,000 residents) are sourced from the FBI Crime Data Explorer.
- Wealth: Average retirement income and home values.
- Livability: Scores from AreaVibes, which assess amenities, housing affordability, and quality of life.
Additional criteria included median household income, percentage of households with retirement income, and housing costs as a percentage of income for retirees.
The data, updated as of November 8, 2024, reflects the most recent findings. For further details, you can view GOBankingRates’ complete methodology on their website.
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