This is the No. 1 Trending City for Retirement in the U.S. — and It's Not in Florida: Report

A new report details a surprising trend in where a growing number of retirees are choosing to spend their golden years

Floridian cities like Boca Raton and Tampa; or southwest destinations such as Phoenix, Ariz. are perpetually popular spots for retirees. But a new study shows that older Americans are expanding their horizons when it comes to where they'll spend their golden years.

Austin, Texas is currently the no. 1 city on the rise for retiring baby boomers, according to a report by Moody’s Analytics. In fact, its population of adults ages 65 and older doubled between 2010 and 2020

Why Austin? The city’s affordable cost of living, combined with the influx of young people moving to Texas’ capital city, have brought in an older crowd too, boosting populations altogether.

Behind Austin, nine other cities are gaining popularity amongst retirement-age populations for similar reasons — including: Boise, Idaho, Raleigh-Durham, N.C.; Atlanta, Ga.; Houston, Texas; Charleston, S.C.; Jacksonville, Fla.; Dallas, Texas; Colorado Springs, Colo.; and Washington, D.C. Each city’s overall population — and senior populations in particular — have expanded 50 percent more quickly than the national average.

“It was interesting to me how geographically dispersed the list was,” Moody’s Analytics associate economist, Nick Luettke, told MarketWatch. “The growth was spread to different parts of the country, outside of the traditional retirement locations.”

Some more traditional hotspots, like Florida, are still attracting plenty of retirees, but have not seen the recent explosive growth of these cities.

Retirees are relocating beyond U.S. borders more often, too.

PEOPLE reported that a new study from the organization Moving to Spain showed that Portugal was the number one European country to retire in, followed by Spain and Italy.

<p>Alexandr Spatari/ Getty</p> — Alexandr Spatari/ Getty

Those who don't end up retiring in any of these U.S. cities or European countries, though, can opt to retire on the water, like Jess and Marty Ansen. PEOPLE recently reported that instead of moving to a retirement community, the Australian couple decided to book 51 back-to-back cruise vacations that would have them on board for about two years.

They told PEOPLE in an exclusive statement that they felt this was the most cost-effective way to spend their time.

“The cruise lifestyle is very efficient," the Ansens said in a statement via Princess Cruises. "You don’t have to worry about paying for rent or a mortgage, getting groceries or doing your laundry.”

"We’re not young people," they added. "Cruising is much cheaper than going to a nursing home and means we can continue to travel the world.”

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