When you picture the ideal place to retire, warm weather and sunny beaches might come to mind. But a new ranking of the happiest cities to retire in 2026 suggests that a fulfilling retirement may have more to do with affordability, health care, and everyday quality of life than the temperature outside.
A study by SoFi evaluated 200 of the largest U.S. metropolitan areas across 13 factors related to financial security, health, and social well-being. The researchers looked at measures such as housing costs, access to health care, walkability, life expectancy, taxes, and the share of residents age 65 and older.
The results challenge the idea that retirees need to head south to find a place to enjoy their next chapter. Seven of the top 10 cities are in the Northeast or Upper Midwest, showing that some less-obvious retirement destinations have plenty to offer.
Here are the 10 cities that made the list.
1. Portland, Maine
Portland earned the No. 1 spot with an overall score of 69.31, standing out particularly for health care and social well-being. Nearly one-quarter of the area’s residents are 65 or older, while its walkable downtown and active community give retirees plenty of opportunities to stay connected.
Health care access is another major advantage, with about 166 primary care physicians per 100,000 residents and a life expectancy of 79.5 years. The tradeoff is affordability, since the cost of living is 12.5% above the national average.
2. Madison, Wisconsin
Madison offers a mix that can be hard to find in retirement: plenty to do without the cost of many larger cities. The college town provides access to lakes, trails, cultural events, and other amenities while its cost of living sits just 3.4% above the national average.
Health also helped Madison reach second place. The area has about 128 primary care physicians per 100,000 residents and a life expectancy of 80.8 years.
3. Appleton, Wisconsin
Appleton’s strength is affordability, ranking second among all 200 areas in SoFi’s financial category. Its cost of living is 11.9% below the national average, making it particularly interesting for retirees concerned about how far a fixed income will stretch.
But affordability isn’t the only appeal. Appleton also offers parks, walking trails, a strollable downtown, and a life expectancy of about 79 years.
4. Manchester, New Hampshire
Manchester ranked fourth overall and fourth for financial security, helped by New Hampshire’s relatively favorable tax environment. The area also offers the appeal of New England living while keeping Boston within reach for those who want access to a much larger city’s amenities.
Its high financial ranking doesn’t necessarily mean every retiree will find Manchester inexpensive. Instead, SoFi’s financial category considers several measures, including housing affordability, cost of living, household income, senior poverty, and state and local taxes.
5. Sioux Falls, South Dakota
For retirees especially concerned about money, Sioux Falls may be the most noteworthy place on the list. It ranked No. 1 for financial security among all 200 areas studied, with a cost of living 9.3% below the national average and no South Dakota individual state income tax.
Sioux Falls also performed well in opportunities for social connection. That combination helped propel it to fifth place overall, despite ranking much lower in the study’s health category.
6. Minneapolis, Minnesota
Minneapolis may appeal to retirees who aren’t ready to trade city life for a quiet retirement community. Museums, theaters, restaurants, live music, and other cultural attractions provide plenty to do, while a walk score of 71.4 makes it one of the more walkable destinations in the top 10.
Health was another strength, with approximately 120 primary care physicians per 100,000 residents and a life expectancy of 79.5 years. Its cost of living, however, runs about 7.2% higher than the national average.
7. Asheville, North Carolina
Asheville is the only Southern city to crack the study’s top 10, combining Blue Ridge Mountain scenery with a strong arts scene and a sizable older population. About 24.2% of residents are 65 or older, which could make it easier for newcomers to find a community of peers.
The area also ranked 14th for health, with approximately 141 primary care physicians per 100,000 residents. Affordability isn’t its biggest strength, though, with a cost of living about 5.8% above the national average.
8. Ann Arbor, Michigan
Health care access is where Ann Arbor really stands out. The Michigan college town has roughly 178 primary care physicians per 100,000 residents, the highest rate of any of the 200 areas included in the study.
Residents also have a life expectancy of approximately 80.5 years. Those health advantages helped Ann Arbor finish eighth overall even though it ranked 124th in the study’s financial category, showing just how different the tradeoffs can be from one retirement destination to another.
9. Washington, D.C.
Washington is certainly not a conventional retirement bargain, but affordability wasn’t the only thing SoFi considered. The nation’s capital received the study’s highest walkability score and highest social association rate, while its museums, public transportation, and neighborhoods provide plenty of opportunities for an active retirement.
Those advantages come at a substantial price. The area’s cost of living was 51.9% above the national average, and Washington ranked 173rd for financial security despite finishing ninth overall.
10. Boulder, Colorado
Boulder rounds out the top 10 and could be especially appealing to retirees who picture spending more of retirement outdoors. Trails, biking, mountain scenery and access to outdoor recreation contribute to its active lifestyle, while its life expectancy of 82.3 years was among the highest in the study.
Like Washington, however, Boulder illustrates why retirement rankings need to be viewed as more than an affordability contest. Its cost of living is 41.3% above the national average and it ranked 138th financially, but strong health and social well-being scores were enough to put it among the country’s 10 highest-rated retirement destinations.
