California has emerged as the top destination for retirees seeking exceptional wealth, with Saratoga ranking as the wealthiest retirement town in the U.S. The city’s median household income of $241,348 and high livability rating make it an attractive choice for those looking to retire in luxury.
The Bay Area city of Saratoga has been ranked as the wealthiest retirement town in the U.S., according to a recent analysis by personal finance site GOBankingRates. This is not an isolated case, as California is home to more than a dozen of the country’s wealthiest retirement cities.
California’s Affluent Retirement Havens
In addition to Saratoga, other California cities made the top 50 list, including Walnut Creek, which was ranked 11th wealthiest for retirement. The analysis covered cities and towns with populations over 15,000, where residents 65 and older make up at least 25% of the population.
Located on the West Coast of the United States, California is the most populous state with approximately 39.5 million residents.
Spanning over 163,696 square miles, it accounts for about 12% of the country's land area.
The state's diverse geography ranges from towering mountain peaks to arid deserts and scenic coastlines along the Pacific Ocean.
Major cities include Los Angeles, San Diego, San Jose, and San Francisco, which are hubs for technology, entertainment, and innovation.
How Cities Were Rated
The ratings were based on income, as well as a livability index, which evaluated factors such as crime rates, commute times, health/safety, and amenities like parks, entertainment options, and food venues. AreaVibes provided the livability ratings for each city.
Saratoga: The Richest Retirement Town
Saratoga stood out with its median household income of $241,348, according to GOBankingRates. Its livability rating was 81, with top grades in areas like commute and health/safety. However, Saratoga received lower marks for housing (C-) and amenities (D+).
Walnut Creek: A Close Second
Walnut Creek, ranked 11th wealthiest for retirement, has a median household income of $135,665. The city’s overall livability rating was 77, with an A+ in areas like commute and health/safety. However, it failed in the categories of cost of living and amenities.
Located in Contra Costa County, California, Walnut Creek is a popular suburb of San Francisco.
The city has a population of around 70,000 residents and covers an area of approximately 23 square miles.
Walnut Creek is known for its vibrant downtown area, featuring high-end boutiques, art galleries, and restaurants.
The city also boasts several parks and trails, including the popular Larkey Park and the Walnut Creek Trail.
According to the US Census Bureau, the median household income in Walnut Creek is around $120,000.
Other California Cities on the List
Fair Oaks in Sacramento County ranked 27th most affluent retirement town, while Lincoln in Placer County came in at 30th. Pacific Grove in Monterey County was ranked 33rd wealthiest retirement metro area, with a population of residents 65 and older at about 29%.
