The Brief
-
Saratoga was ranked the wealthiest retirement “haven” in the U.S.
-
California dominated the list of “America’s 50 Richest Retirement Towns.”
-
Walnut Creek was also among the wealthiest.
SARATOGA, Calif. – A new analysis found California is home to more than a dozen of the country’s wealthiest retirement cities, with the South Bay suburb of Saratoga ranked at the top.
Walnut Creek was near the top, rated the country’s 11th wealthiest city for retirement.
Personal finance site GOBankingRates compiled a list of the 50 richest retirement towns in the U.S.
The analysis covered cities and towns that have populations of more than 15,000, with residents 65 and older making up at least 25% of the population.
In addition to income, the communities were evaluated on their so-called livability index, as evaluated by real estate data analytics company AreaVibes.
A livability rating looked at factors including crime rates, commute, health/safety, and “amenities”– a city’s access to parks, entertainment, and food and drink venues.
By the numbers
Saratoga soared to the top with its median household income of $241,348, according to GOBankingRates.
Its livability rating was 81.
AreaVibes gave the South Bay city an A or A+ in categories including commute, crime, and health/safety.
Saragota received a C- for housing, a D+ when it came to the city’s amenities, and, not surprisingly, a failing grade for cost of living.
The 11th wealthiest, Walnut Creek, has amedian household income of $135,665.
The city received an overall livability rating of 77, getting a grade of A+ in areas including commute and health/safety.
It received a B+ for crime, a C+ for housing, and failed in the categories of cost of living and amenities.
Also in Northern California, Fair Oaks in Sacramento County made the top 50 list, coming in as the 27th most affluent retirement town.
And Lincoln in Placer County was ranked 30th.
In Monterey County, the community of Pacific Grove was the 33rd wealthiest retirement metro area, according to GOBankingRate.
Its population of residents 65 and older was about 29%. Pacific Grove has a median income of $105,568, and its livability was rated at 84.
SEE ALSO: This Bay Area-based company is the latest to move its headquarters to Texas
Top California towns that made the list:
1. Saratoga
3. Ranchos Palos Verdes in Los Angeles County
9. Laguna Beach in Orange County
11. Walnut Creek
12. Cerritos in Los Angeles County
California had the most rankings of any state on the list.
“Does it surprise you to hear that California is home to a sizable number of the nation’s richest retirement towns?” GOBankingRates asked, adding, “Already beloved for its warm weather and scenic beaches, the Golden State is home to 13 affluent retirement havens.”
