Where Most People Are About to Retire

Many individuals aged 55 to 64 are at the peak of their earning, contributing to local taxes and sometimes with plenty of discretionary income to spare on local businesses. On average, 11.0% of the population in large cities, and an estimated 17.1% of households in this age bracket make $200,000 or more, earning the “high income” label according to IRS standards.

But many people change their budget, lifestyle, and even location when they enter retirement – generally around age 65 – which may impact the local business demand mix and tax revenues alike. In fact, the median household income in large cities drops from an estimated $96,745 in the years before retirement to $59,990 once the householder is aged 65 or older.

With this in mind, SmartAsset evaluated data for 317 of the largest U.S. cities to determine where the population skews toward the 55 to 64 age bracket, including income statistics about these local cohorts.

Key Findings

Pre-retirees account for over 16% of the population in two cities. Hialeah, FL has the highest frequency of people aged 55 to 64 at 16.64%. The estimated median household income for this group is $71,622, and roughly 4.7% of these households are high income. On the opposite coast, Huntington Beach, CA ranks second for most pre-retirees at 16.57%. Higher incomes are more common here, with a median household income of $139,134 for this age bracket, with 33.5% earning at least $200,000.
The average pre-retiree in these two cities earns more than $200,000. Bellevue, WA has the highest estimated median household income for the pre-retiree group at $214,900, while the median in Fremont, CA is estimated to be $202,314. Bellevue’s frequency of this cohort is slightly below average at 10.62% of the total population, while Fremont’s is slightly above average at 11.75%.
The 55 to 64 cohort is small in number but high in income in these cities. The three cities with the lowest rates of pre-retirees are Provo, UT (5.36%); Cambridge, MA (5.56%); and College Station, TX (6.16%). In Provo, the median household income for pre-retirees is $106,419, with 26.4% designated as high income. In Cambridge, those figures are a $182,926 median income and 46.2% prevalence of high income. And in College Station, the median pre-retiree household earns $116,364, with 28.3% over $200,000.
More than 30% of the population is retired in Sandy Springs, GA. This is the highest nationwide, compared to a national average of 8.2% of the population being aged 65 or older in large U.S. cities. Meanwhile, the pre-retiree cohort in Sandy Springs accounts for another 13.18% of the population. Other cities with particularly high frequencies of retirees include Boca Raton, FL (27.1%); Arlington, VA (27.1%); Cambridge, MA (26.6%); and Berkeley, CA (25.7%).

Top 25 Cities With the Highest Rate of Pre-Retirees

Cities are ranked based on the percentage of the population that falls between the ages of 55 and 64.

Hialeah, Florida

Pre-retirees as a percentage of total population: 16.64%
Pre-retirees (ages 55 to 64): 39,163
Median pre-retiree household income: $71,622
Percent of pre-retirees earning $200k+: 4.7%

Huntington Beach, California

Pre-retirees as a percentage of total population: 16.57%
Pre-retirees (ages 55 to 64): 32,018
Median pre-retiree household income: $139,134
Percent of pre-retirees earning $200k+: 33.5%

Inglewood, California

Pre-retirees as a percentage of total population: 15.67%
Pre-retirees (ages 55 to 64): 16,107
Median pre-retiree household income: $79,414
Percent of pre-retirees earning $200k+: 12.1%

Cape Coral, Florida

Pre-retirees as a percentage of total population: 15.25%
Pre-retirees (ages 55 to 64): 35,536
Median pre-retiree household income: $104,988
Percent of pre-retirees earning $200k+: 13.1%

Clearwater, Florida

Pre-retirees as a percentage of total population: 15.11%
Pre-retirees (ages 55 to 64): 17,651
Median pre-retiree household income: $72,376
Percent of pre-retirees earning $200k+: 10.9%

Boca Raton, Florida

Pre-retirees as a percentage of total population: 14.95%
Pre-retirees (ages 55 to 64): 15,288
Median pre-retiree household income: $140,404
Percent of pre-retirees earning $200k+: 36.7%

Garden Grove, California

Pre-retirees as a percentage of total population: 14.81%
Pre-retirees (ages 55 to 64): 25,519
Median pre-retiree household income: $103,323
Percent of pre-retirees earning $200k+: 20.2%

Spring Valley, Nevada

Pre-retirees as a percentage of total population: 14.32%
Pre-retirees (ages 55 to 64): 31,701
Median pre-retiree household income: $91,888
Percent of pre-retirees earning $200k+: 10.8%

Carrollton, Texas

Pre-retirees as a percentage of total population: 14.29%
Pre-retirees (ages 55 to 64): 19,333
Median pre-retiree household income: $121,115
Percent of pre-retirees earning $200k+: 22.9%

St. Petersburg, Florida

Pre-retirees as a percentage of total population: 14.13%
Pre-retirees (ages 55 to 64): 37,726
Median pre-retiree household income: $96,841
Percent of pre-retirees earning $200k+: 18.7%

Scottsdale, Arizona

Pre-retirees as a percentage of total population: 14.03%
Pre-retirees (ages 55 to 64): 34,541
Median pre-retiree household income: $146,385
Percent of pre-retirees earning $200k+: 37.3%

Peoria, Arizona

Pre-retirees as a percentage of total population: 13.97%
Pre-retirees (ages 55 to 64): 27,929
Median pre-retiree household income: $127,553
Percent of pre-retirees earning $200k+: 26.9%

El Monte, California

Pre-retirees as a percentage of total population: 13.92%
Pre-retirees (ages 55 to 64): 14,568
Median pre-retiree household income: $83,731
Percent of pre-retirees earning $200k+: 13.4%

Pembroke Pines, Florida

Pre-retirees as a percentage of total population: 13.78%
Pre-retirees (ages 55 to 64): 24,712
Median pre-retiree household income: $108,582
Percent of pre-retirees earning $200k+: 24.9%

Fort Lauderdale, Florida

Pre-retirees as a percentage of total population: 13.68%
Pre-retirees (ages 55 to 64): 26,088
Median pre-retiree household income: $101,573
Percent of pre-retirees earning $200k+: 23.0%

Concord, California

Pre-retirees as a percentage of total population: 13.67%
Pre-retirees (ages 55 to 64): 16,954
Median pre-retiree household income: $127,308
Percent of pre-retirees earning $200k+: 29.0%

Torrance, California

Pre-retirees as a percentage of total population: 13.59%
Pre-retirees (ages 55 to 64): 18,967
Median pre-retiree household income: $131,738
Percent of pre-retirees earning $200k+: 30.6%

Cary, North Carolina

Pre-retirees as a percentage of total population: 13.58%
Pre-retirees (ages 55 to 64): 24,696
Median pre-retiree household income: $158,568
Percent of pre-retirees earning $200k+: 39.4%

High Point, North Carolina

Pre-retirees as a percentage of total population: 13.55%
Pre-retirees (ages 55 to 64): 15,865
Median pre-retiree household income: $76,281
Percent of pre-retirees earning $200k+: 9.3%

Brockton, Massachusetts

Pre-retirees as a percentage of total population: 13.51%
Pre-retirees (ages 55 to 64): 14,287
Median pre-retiree household income: $79,833
Percent of pre-retirees earning $200k+: 11.6%

Everett, Washington

Pre-retirees as a percentage of total population: 13.50%
Pre-retirees (ages 55 to 64): 15,260
Median pre-retiree household income: $95,227
Percent of pre-retirees earning $200k+: 14.6%

Richmond, California

Pre-retirees as a percentage of total population: 13.47%
Pre-retirees (ages 55 to 64): 15,542
Median pre-retiree household income: $124,718
Percent of pre-retirees earning $200k+: 15.8%

Paradise, Nevada

Pre-retirees as a percentage of total population: 13.42%
Pre-retirees (ages 55 to 64): 24,688
Median pre-retiree household income: $66,947
Percent of pre-retirees earning $200k+: 9.6%

Yonkers, New York

Pre-retirees as a percentage of total population: 13.42%
Pre-retirees (ages 55 to 64): 28,320
Median pre-retiree household income: $101,440
Percent of pre-retirees earning $200k+: 20.0%

Santa Clarita, California

Pre-retirees as a percentage of total population: 13.41%
Pre-retirees (ages 55 to 64): 30,736
Median pre-retiree household income: $151,250
Percent of pre-retirees earning $200k+: 31.3%

Top 25 Cities Where Pre-Retirees Earn the Most

Cities are ranked based on the estimated median household income for people aged 55 to 64.

Bellevue, Washington

Median pre-retiree household income: $214,900
Pre-retirees as a percentage of total population: 10.62%
Pre-retirees (ages 55 to 64): 16,399
Percent of pre-retirees earning $200k+: 53.6%

Fremont, California

Median pre-retiree household income: $202,314
Pre-retirees as a percentage of total population: 11.75%
Pre-retirees (ages 55 to 64): 26,811
Percent of pre-retirees earning $200k+: 51.9%

San Mateo, California

Median pre-retiree household income: $183,921
Pre-retirees as a percentage of total population: 9.22%
Pre-retirees (ages 55 to 64): 9,501
Percent of pre-retirees earning $200k+: 46.6%

Naperville, Illinois

Median pre-retiree household income: $183,142
Pre-retirees as a percentage of total population: 12.83%
Pre-retirees (ages 55 to 64): 19,678
Percent of pre-retirees earning $200k+: 44.3%

Cambridge, Massachusetts

Median pre-retiree household income: $182,926
Pre-retirees as a percentage of total population: 5.56%
Pre-retirees (ages 55 to 64): 6,735
Percent of pre-retirees earning $200k+: 46.2%

Arlington, Virginia

Median pre-retiree household income: $174,834
Pre-retirees as a percentage of total population: 9.96%
Pre-retirees (ages 55 to 64): 23,883
Percent of pre-retirees earning $200k+: 43.5%

San Jose, California

Median pre-retiree household income: $173,467
Pre-retirees as a percentage of total population: 12.09%
Pre-retirees (ages 55 to 64): 120,627
Percent of pre-retirees earning $200k+: 43.1%

Berkeley, California

Median pre-retiree household income: $170,681
Pre-retirees as a percentage of total population: 8.45%
Pre-retirees (ages 55 to 64): 10,284
Percent of pre-retirees earning $200k+: 43.7%

Sunnyvale, California

Median pre-retiree household income: $168,088
Pre-retirees as a percentage of total population: 9.87%
Pre-retirees (ages 55 to 64): 15,467
Percent of pre-retirees earning $200k+: 40.9%

Irvine, California

Median pre-retiree household income: $162,542
Pre-retirees as a percentage of total population: 9.37%
Pre-retirees (ages 55 to 64): 29,856
Percent of pre-retirees earning $200k+: 41.7%

Sandy Springs, Georgia

Median pre-retiree household income: $162,327
Pre-retirees as a percentage of total population: 13.18%
Pre-retirees (ages 55 to 64): 13,910
Percent of pre-retirees earning $200k+: 42.9%

Arvada, Colorado

Median pre-retiree household income: $160,672
Pre-retirees as a percentage of total population: 12.38%
Pre-retirees (ages 55 to 64): 15,169
Percent of pre-retirees earning $200k+: 35.1%

Cary, North Carolina

Median pre-retiree household income: $158,568
Pre-retirees as a percentage of total population: 13.58%
Pre-retirees (ages 55 to 64): 24,696
Percent of pre-retirees earning $200k+: 39.4%

San Francisco, California

Median pre-retiree household income: $154,484
Pre-retirees as a percentage of total population: 11.97%
Pre-retirees (ages 55 to 64): 99,032
Percent of pre-retirees earning $200k+: 40.6%

Santa Clarita, California

Median pre-retiree household income: $151,250
Pre-retirees as a percentage of total population: 13.41%
Pre-retirees (ages 55 to 64): 30,736
Percent of pre-retirees earning $200k+: 31.3%

Boulder, Colorado

Median pre-retiree household income: $151,001
Pre-retirees as a percentage of total population: 8.02%
Pre-retirees (ages 55 to 64): 8,570
Percent of pre-retirees earning $200k+: 37.3%

McKinney, Texas

Median pre-retiree household income: $150,342
Pre-retirees as a percentage of total population: 12.00%
Pre-retirees (ages 55 to 64): 27,296
Percent of pre-retirees earning $200k+: 36.0%

Alexandria, Virginia

Median pre-retiree household income: $149,366
Pre-retirees as a percentage of total population: 11.10%
Pre-retirees (ages 55 to 64): 17,662
Percent of pre-retirees earning $200k+: 31.7%

Scottsdale, Arizona

Median pre-retiree household income: $146,385
Pre-retirees as a percentage of total population: 14.03%
Pre-retirees (ages 55 to 64): 34,541
Percent of pre-retirees earning $200k+: 37.3%

Gilbert town, Arizona

Median pre-retiree household income: $144,293
Pre-retirees as a percentage of total population: 9.88%
Pre-retirees (ages 55 to 64): 28,536
Percent of pre-retirees earning $200k+: 28.1%

Roseville, California

Median pre-retiree household income: $143,563
Pre-retirees as a percentage of total population: 11.95%
Pre-retirees (ages 55 to 64): 19,515
Percent of pre-retirees earning $200k+: 27.9%

Chandler, Arizona

Median pre-retiree household income: $143,207
Pre-retirees as a percentage of total population: 12.23%
Pre-retirees (ages 55 to 64): 34,399
Percent of pre-retirees earning $200k+: 27.8%

Plano, Texas

Median pre-retiree household income: $141,625
Pre-retirees as a percentage of total population: 12.50%
Pre-retirees (ages 55 to 64): 36,569
Percent of pre-retirees earning $200k+: 32.5%

Elk Grove, California

Median pre-retiree household income: $140,811
Pre-retirees as a percentage of total population: 12.62%
Pre-retirees (ages 55 to 64): 23,058
Percent of pre-retirees earning $200k+: 27.5%

Seattle, Washington

Median pre-retiree household income: $140,442
Pre-retirees as a percentage of total population: 9.77%
Pre-retirees (ages 55 to 64): 76,338
Percent of pre-retirees earning $200k+: 38.8%

Data and Methodology

The population of people aged 55 through 64 is compared to the total population in order to determine the rate of presumed pre-retirees. Data comes from the U.S. Census Bureau 1-Year American Community Survey for 2024 for 317 cities for which full data was available. Median income and the portion of households earning over $200,000 is considered for the age bracket that includes households aged 45 to 64. The same data for those aged 65 and older is assumed to represent the cohort of retirees.

Where Most People Are About to Retire – 2026 Study