8 Richest Midwest Retirement Towns in 2026
Seniors often decide to retire in the Midwest so they can take advantage of a lower cost of living, tax incentives and the opportunity to become part of a close-knit community. For those retiring with a substantial savings nest egg, MoneyLion has identified eight Midwestern cities as among the richest retirement towns.
MoneyLion pulled these Midwest locales from an existing study on America’s richest retirement towns, then examined key factors, like populations of 25% or greater for ages 65 and older, median household income and the number of households receiving retirement income. We kept all cities with household incomes of $100,000 or more for this piece.
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Illinois led with three wealthy retirement towns, including Lake Forest where the median household income is $235,081. Find out where other retirement towns reside among the wealthiest in the Midwest.
1. Lake Forest, Illinois
Population 65+ (%): 26.7%
Median household income: $235,081
Average retirement income for households that receive it: $61,485
Livability: 67
2. Northbrook, Illinois
Population 65+ (%): 26.6%
Median household income: $157,782
Average retirement income for households that receive it: $53,982
Livability: 80
3. Glenview, Illinois
Population 65+ (%): 25.5%
Median household income: $143,056
Average retirement income for households that receive it: $60,506
Livability: 78
4. Mequon, Wisconsin
Population 65+ (%): 25.4%
Median household income: $144,051
Average retirement income for households that receive it: $44,644
Livability: 69
5. Chesterfield, Missouri
Population 65+ (%): 25.5%
Median household income: $133,037
Average retirement income for households that receive it: $46,699
Livability: 71
6. Creve Coeur, Missouri
Population 65+ (%): 25.2%
Median household income: $127,188
Average retirement income for households that receive it: $50,637
Livability: 83
7. Westlake, Ohio
Population 65+ (%): 25.1%
Median household income: $112,200
Average retirement income for households that receive it: $44,308
Livability: 81
8. Dyer, Indiana
Population 65+ (%): 25.6%
Median household income: $107,159
Average retirement income for households that receive it: $33,783
Livability: 77
Methodology: For this study, MoneyLion analyzed retirement towns to find the richest places to live. To qualify for this study, the city had to have a total population of at least 15,000 and a population % of 25% or more for the population ages 65 and older. That information and income data were sourced from the U.S. Census 2024 American Community Survey. Livability was sourced from AreaVibes. The median household income was scored and weighted at 1.00 and the average retirement income for households that receive it was scored and weighted at 0.50. Both scores were summed and sorted to show the richest retirement towns. All data is up to date as of Feb. 9, 2026.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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