How far $1M goes in these Arizona retirement towns

After a long summer, Arizona is finally out of the triple digits. But as the high temperatures fade, snowbirds flock to make their return to enjoy the Grand Canyon State’s cooler weather.

Arizona is a hotspot for retirees. But, with prices on the rise, those decades of retirement savings could dry out in just a matter of a few years, depending on the retirement community a snowbird chooses. 

In a study, GoBankingRates identified how long $1 million — solid number to live on for the rest of your life — lasts in the country’s retirement communities.

The personal finance company identified the 30 U.S. communities with the highest percentage of residents age 65 and up. For a city to make the list, at least 52% of residents had to be at least 65 years old. From there, GoBankingRates figured out how much it cost to live comfortably in each of the 30 areas and calculated how long $1 million would last. Social security income wasn’t considered in the study.

While some of the Valley’s most notable retirement hubs, like Sun City and Scottsdale, weren’t included in the study, some lesser-known — and less expensive — senior-heavy communities showed promise. Here’s how far $1 million lasts in Arizona’s retirement cities.

Welton

65-plus population: 53%
Annual cost of comfortable living: $50,926
How long $1 million lasts: 19.6 years 

Less than 2,400 people live in this small southwestern town, but it’s a great place to be surrounded by other retirees — more than half of Welton is 65 or older. The town is home to several golf courses and RV parks. It’s an hour and a half away from Yuma, if you’re looking to escape the small-town vibe for a larger city. 

Compared to the other cities on the list, $1 million will last a decent amount of time in Welton. If they were a child, they’d be all grown and out of the house. 

Star Valley 

65-plus population: 54%
Annual cost of comfortable living: $69,118
How long $1 million lasts: 14.5 years 

If less desert and cactus and more evergreens and mountains are your thing, this northern Arizona town just outside of Payson may be right for you. Star Valley is about the same size as Welton and offers lots of camping, hikes and RV parks. Plus, your $1 million will last nearly a decade and a half as you enjoy the golf courses, grocery stores and hospitals of neighboring Payson. 

Quartzsite

65-plus population: 64%
Annual cost of comfortable living: $45,244 
How long $1 million lasts: 22.1 years 

Your $1 million in retirement savings will last the longest in this western Arizona town. Just 20 minutes from the California border along Interstate 10 and the Colorado River, the area has plenty of camping spots and hikes, including the Arizona Peace Trail.

Of the cities on GoBankingRates’ list, retirees’ $1 million will last longer only in Walnut, Iowa; Elephant Butte, New Mexico; and Fairfield Bar, Arkansas.