A new report by online moving platform HireAHelper found that Arizona was the No. 4 choice for Americans relocating after retirement in 2022.
Data shows that of the more than 234,000 U.S. retiree relocations that took place this year, 5.9% migrated to the Grand Canyon State.
- Over 234,000 Americans moved to retire in 2022, 4% more than in 2021
- 12% of American retirees moved for “cheaper housing” — highest % since 2014
- Florida is top destination for retirement moves (~12% of all retirees)
- Palm Bay-Melbourne-Titusville, FL (9%) top metro destination for retirement moves
- Oregon the state retirees most likely to leave — origin state of 10% of retiree moves
- Retirees of color more than 2x likely to move in search of cheaper housing (20%) than their white counterparts (9%)
Last year’s study on retirement moves revealed that the COVID-19 pandemic played a major role in many people’s decisions. However, this year, inflation has become the dominant theme. The economy, including cost of living, savings, and home prices, all affect the retirement equation. Many American retirees are finding they need more money to retire comfortably, with 36% reporting higher living costs than expected and 56% expecting to continue working after retirement.