6 Best Places To Retire When You Are Upper Middle Class

James Holbach

Where you settle down may be the most important retirement single decision you’ll make. Things like proximity to quality healthcare services, big city amenities or the peace of rural living might all be important in choosing a retirement destination — but for most, the cost of living will be the deciding factor.

As a retiree, you can no longer rely on your earning power to pay the bills. It’s down to Social Security benefits and whatever pensions and savings you can access.

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The universe of choices expands significantly for retirees with enough savings to be considered upper middle class. Defining exactly what it means to be upper middle class is hard to do – it obviously depends on a lot of things like location and economic conditions — but generally speaking, households in the 60th to 80th income percentile are considered upper middle class, which is the range between $90,000 and $150,000 per year.

With so many more choices in retirement locales, it’s hard to know where to start. Rachel Stringer, real estate agent at Raleigh Realty, recommended two locations in the Carolinas.

If your retirement savings are big enough that you can afford to “pay yourself” that much every year, then you can consider yourself to be part of the upper middle class.

Asheville, North Carolina

Set in the Blue Ridge Mountains, Asheville is known for its beautiful natural scenery and vibrant artistic and cultural scene. Stringer noted that the cost of living is slightly below the national average, meaning an upper middle class income should go a long way there.

“What makes this mountain town so appealing to upper-middle-class retirees? It has everything — an active outdoor lifestyle with abundant hiking, rafting, and recreational pursuits, a thriving culinary scene featuring craft breweries and farm-fresh dining, top-tier healthcare facilities, and a warm, welcoming community atmosphere where it’s easy to forge new connections. You’ll constantly find engaging ways to keep your mind and body active in Asheville,” Stringer said.

Beaufort, South Carolina

A historic coastal town with a lot of Southern charm and a moderate cost of living, Beaufort will appeal to those looking for a smaller-town feel, while still being relatively close to Savannah and Charleston and their big-city amenities.

“Beaufort allows you to embrace a relaxing, low-key lifestyle while surrounding yourself with breathtaking coastal scenery. Stroll the streets admiring the historic architecture, indulge in the freshest seafood, spend leisurely days on pristine beaches, and stay active with boating, fishing, dolphin watching, and more,” Stringer said.

Austin, Texas

Colten Claus, an Associate Broker with 8z Real Estate, gave some recommendations that don’t typically pop up as hot retirement destinations but are within reach of retirees in the upper middle class. The first was Austin, known for its dynamic music scene ranging from tiny dive bar shows to massive festivals.

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“Austin has a robust economy with a growing retiree population. While housing prices have risen, there are still affordable options for upper-middle-class retirees,” Claus said.

Scottsdale, Arizona

For those looking for a more luxurious retirement experience, Claus recommended Scottsdale, which offers high-end shopping, dining, and many golf courses. While the cost of living isn’t low, it can still be manageable for upper middle class retirees.

“Scottsdale has warm, sunny weather year-round, appealing to those looking to escape colder climates. It is home to top-notch medical facilities, including the Mayo Clinic, providing excellent care,” Claus said.

Bend, Oregon

Adam Chahl, realtor with Place Real Estate Team, recommended Bend for those interested in the Pacific Northwest as their home in retirement. Bend has become a popular destination for people escaping rising home prices in the bigger cities nearby like Seattle and Portland.

“For retirees who prefer a cooler climate and outdoor activities, Bend is an ideal choice. It’s known for its scenic views, hiking trails and countless breweries. Oregon does not tax Social Security benefits, making it an attractive location for retirees looking to maximize their income,” Chahl said.

Clearwater, Florida

Wayne Kask, travel writer and the founder of Discover West Central Florida, recommended Clearwater, set on the western coast of Florida near Tampa and St. Petersburg, as a great retirement location.

“I can say it’s truly a retiree’s paradise. The beach life isn’t just a dream here – it’s a reality you can live out day after blissful day. You can enjoy nature, arts, or being with others – it’s all here. The cost is low so retirees can fully enjoy their time without money worries. Plenty to see and do keeps residents occupied. And the budget means making the most of retirement without financial stress. Whether hiking trails or museum trips, Clearwater provides ways to spend days. Bringing people together is also part of what makes the area special,” Kask said.

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