% of population 65+: 35.3%
Annual cost of living: $48,053
Average annual Social Security benefits: $25,771
Average annual retirement income: $38,358
Average annual mortgage: $26,008
Livability: 70
About half the households in New Smyrna Beach receive Social Security, and pretty much all of the retirement-age residents (39%) have their own income sources. The cost of living here is in the top three among the cities on this list.
Methodology: To qualify for this study, each city had to have a population of at least 15,000 residents, a population aged 65 and over of at least 25% and average home values under $500,000, as well as having all data points available. GOBankingRates found qualifying cities using the U.S. Census American Community Survey. The cost of living was calculated using Sperling’s BestPlaces, Zillow Home Value Index, Federal Reserve Economic Data. The livability index was sourced from AreaVibes. The average mortgage cost was scored and weighted at 1.00, the average expenditure cost was scored and weighted at 1.00, livability was scored and weighted at 1.00, the percentage of households that receive Social Security benefits was scored and weighted at 1.00, the average Social Security benefits received per household that receives them was scored and weighted at 1.00, the percentage of households that receive retirement income was scored and weighted at 1.00, and the average retirement income received per household that receives it was scored and weighted at 1.00. All the scores were summed and sorted to show the best retirement towns for the middle class. All data is current as of Oct. 20, 2025.