Advertisement

Two California cities among top 15 in U.S. for retirees to buy homes

Share via

Two California cities are among the nation’s best places for retirees to invest in homes, according to a RealtyTrac report published Thursday.

The Irvine real estate data firm ranked the top 15 U.S. cities where at least one-third of the population is 65 or older by their median home price increase in a 12-month period that ended in May.

Rancho Mirage, near Palm Springs, and Seal Beach in Orange County both made the list.

Rancho Mirage was No. 7, with a 16.77% year-over-year increase in home prices. Seal Beach ranked No. 13 with a 9.84% gain.

Advertisement

But only the wealthy should consider investing in the Golden State. East Hampton, N.Y., is the only city on the list that had a higher median home price in May, $952,500, than the California cities.

Seal Beach had the second-highest median price in May, $692,000, and Rancho Mirage was third at $430,000, according to the report.

Here’s the list of the top 15 retirement hot spots to invest in real estate, with the median home price and year-over-year percentage increase for each city:

Advertisement

1. Dunnellon, Fla. ($76,941; up 31.42%)
2. Naples, Fla. ($267,473; up 26.79%)
3. Hot Springs Village, Ark. ($170,000; up 25.93%)
4. Douglassville, Pa. ($252,000; up 22.33%)
5. Sun City, Ariz. ($113,275; up 19.90%)
6. North Fort Myers, Fla. ($84,000; up 19.01%)
7. Rancho Mirage, Calif. ($430,000; up 16.77%)
8. Punta Gorda, Fla. ($138,938; up 16.71%)
9. Sun City Center, Fla. ($99,750; up 14.66%)
10. Venice, Fla. ($148,238; up 11.46%)
11. Florence, Ore. ($165,000; up 10.37%)
12. Green Valley, Ariz. ($144,550; up 10.13%)
13. Seal Beach, Calif. ($692,000; up 9.84%)
14. Orange City, Fla. ($68,000; up 8.80%)
15. East Hampton, N.Y. ($952,500; up 8.18%)

ALSO:

Freddie Mac: Mortgage rates ease after run-up

National home prices jump 12% in May

Construction spending jumps in May

Advertisement
Advertisement