California, not Florida, is home to the richest retirement towns in the U.S., according to a new report

GoBankingRates.com recently ranked the wealthiest retirement towns in the United States. The study considered cities with at least 25% of residents aged 65 or older, and ranked them by median household income. 

The richest retirement town is Ranchos Palos Verdes, California, with a median household income of $166,747. Other wealthy retirement towns include Highland Park, Illinois; Bainbridge Island, Washington; and East Honolulu, Hawaii. California dominates the list with four towns in the top 10, while Florida has one. 

For more information see Celia Fernandez “California, not Florida, is home to the richest retirement towns in the U.S., according to new report”, CNBC Make It, March 29, 2024.

Special thanks to David S. Luber (Florida Probate Attorney) for bringing this article to my attention.