Many retired Americans have household incomes much less than the national median of $80,610, according to a recent study by SmartAsset.
Retirees’ average annual household income is roughly $54,000 nationwide, a combination of about $24,000 in Social Security benefits and supplemental income from designated retirement accounts of some $30,000.
The study noted, however, that average retirement account and Social Security benefits can vary widely from city to city, ranging from only $33,000 to more than $85,000.
To sort out where retired Americans have the highest and lowest household incomes, SmartAsset ranked 344 of the largest U.S. cities with available data based on the retirement income, including funds from designated accounts such as pensions, 401(k)s, IRAs, and 403(b)s, as well as on income from Social Security retirement benefits.
For the study, researchers tapped data from the U.S. Census Bureau’s 2023 1-year American Community Survey.
See the accompanying gallery for the 12 cities with the highest retirement income.
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