Conventional wisdom has it that warm weather states Florida and Arizona attract the most retirees. Forget conventional wisdom.
According to a new report by online insurance platform BizInsure, Wyoming drew retirees at a faster clip during the decade between 2013 and 2023 than any other state.
Based on Census Bureau data, Wyoming is followed “closely” by South Carolina and another surprise, Idaho. Neither Florida nor Arizona cracked the top 10 for fastest-growing retirement destinations.
In terms of numbers, Wyoming's growth rate was 76% higher than South Carolina’s and 105% higher than Idaho’s. Florida, Arizona and Nevada, on the other hand, were among the bottom 10 states for out-of-state seniors moving in. Indeed, those three states have experienced negative retiree growth during the study period, each losing more momentum over the decade than 43 other states.
The report says today’s retirees are “moving to escape,” often opting for fewer neighbors and more nature. “States with lower population densities and rich natural landscapes are becoming increasingly attractive, replacing the once-universal appeal of beaches and sunshine,” it says.
While Florida and Arizona may have slipped in overall state growth, cities in those states remain “powerhouses” for retirement. The report places Peoria, Ariz., at No. 1 and Cape Coral at No. 2. Peoria had the strongest growth rate among seniors in the country, soaring more than 43% from 2018 to 2023 and adding more than 40,000 people.
Other top draws include North Las Vegas, Chandler, Ariz., Henderson, Nev., and Reno, Nev.
While the more traditional states “are out,” the BizInsure report says, “that doesn’t mean that Grandma and Grandpa are staying home. They’re moving to escape, chasing locations better known for hiking trails than beaches.
“And while their choices are increasingly favoring off-the-beaten-track states known for big nature and recreation, some current top cities and growing future hubs for the elderly can be found in traditional retirement playgrounds, where sunny skies and tee times reign.”
(A different report, released this spring by the AARP, offered somewhat conflicting results. Using similar Census data but focusing on people who moved specifically for retirement, AARP ranked, in another shocker, Massachusetts as the most popular retirement destination. Florida polled in at No. 2 but Arizona did not crack the top 10.)
The BizInsure study found that in terms of housing costs, affordability doesn’t seem to play much of a role in retirement plans. Seniors “may well be spending while they can,” it says, noting that “day-to-day affordability might be traded for lifestyle gains.” It should also be noted that Wyoming, Nevada and Florida have no personal income tax.
The report concludes: “Active seniors are often orchestrating a second act defined by space, recreation and scenic views. The traditional retirement states may still host most seniors, but they’re no longer leading the migration. From Wyoming’s wide-open skies (and attractive lack of personal income tax) to Peoria’s practicality, boomers are crafting retirements that prioritize autonomy and escape.”
