If you're seeking a retirement destination that offers a high quality of life in the U.S., you may need to venture off the mainland, according to WalletHub's list of the best and worst places to retire.
Hawaii is home to the top two retirement destinations with the highest quality of life, per WalletHub's analysis. Pearl City ranks No. 1, followed by Honolulu at No. 2.
While Florida is home to the two best overall U.S. cities for retirees, when it comes to quality of life specifically, the first Florida town on the list comes in at 17th place.
WalletHub ranked the quality of life of in 182 highly populated cities according to several factors, including the share of the population over 65, weather, violent crime rate, the availability of activities for seniors and walkability.
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To compile the ranking, the personal finance site analyzed data from a number of sources, including the Tax Foundation, the Council for Community and Economic Research and the U.S. Census Bureau.
"Quality of life metrics focus on aspects like the share of elderly residents, poverty rates among seniors, community support and environmental conditions," WalletHub analyst Chip Lupo tells CNBC Make It. "Together, these metrics help identify cities that offer a supportive, enriching environment for retirees."
Here are the top 10 cities in the U.S. to retire for the highest quality of life, according to WalletHub.
- Pearl City, Hawaii
- Honolulu
- Scottsdale, Arizona
- Columbia, Maryland
- Fremont, California
- Glendale, California
- Madison, Wisconsin
- San Jose, California
- Lexington-Fayette, Kentucky
- San Diego
Pros and Cons of Pearl City, Hawaii, for retirees
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Pearl City is located on the Hawaiian island of Oahu, about 11 miles from downtown Honolulu. It has a population around 45,000, and a little over a quarter of residents are over the age of 65, according to the latest available Census data.
In Pearl City, and Hawaii overall, retirees who enjoy spending time outdoors can take advantage of warm weather year-round, as temperatures typically fluctuate between the low 70s and low 80s, according to the National Weather Service. The state also offers an abundance of natural beauty, including white sand beaches and crystal-clear water.
However, the weather is also a potential con of living in Hawaii, since the islands are susceptible to tsunamis, hurricanes and other natural disasters.
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Another downside is that living in Hawaii doesn't come cheap. In Pearl City, homes list for a median price of $795,000 and sell for a median of $1.1 million, per Realtor.com.
Renters don't fare much better. The median rent for a one-bedroom dwelling in Pearl City is $1,856 per month as of Sept. 10, according to Zillow, which is about 16% higher than the national median.
However, for retirees who can swing the costs, they may find a sizable community of peers their own age. Pearl City tied with Scottsdale, Arizona, for the highest percentage of residents over the age of 65, per WalletHub's analysis.
Explore potential retirement destinations beforehand
While lists like these can be a helpful starting point when deciding where to retire, it's ultimately up to you to figure out which features are most important.
You may prioritize being close to your family and easy access to medical facilities, while someone else may prefer to move somewhere with a lower cost of living.
Additionally, it can be difficult to picture yourself retiring in a location you haven't spent time in.
Many retirement experts recommend visiting your potential retirement destinations at different points of the year so that you can get a sense of what the town is like during various seasons, familiarize yourself with the local community and begin to understand what it may be like to live there long term.
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