Here's how many years $1 million will last you in retirement in the 50 biggest US cities

jejim/ShutterstockSan Francisco, California.
  • A study by GoBankingRates found how many years $US1 million would last during retirement in 50 of the most populated cities in the US.
  • The study looked at the annual expenditures for someone 65 and older in each city, then subtracted annual Social Security benefits to find the the annual expenditure figure.
  • Visit Business Insider’s homepage for more stories.

Depending on where you live, $US1 million can last you as long as 45 years or just eight years in retirement.

A recent study by GoBankingRates found how many years $US1 million would last during retirement in 50 of the most populated cities in the US. The study multiplied the annual expenditures for someone 65 and older in each city, then subtracted annual Social Security benefits. The final annual expenditure figure was divided into one million to find the years, months, and days that $US1 million would last in each city.

The study found that in cities like Tulsa and Indianapolis, $US1 million would last for more than 35 years. However, in cities like New York and San Francisco, it would last less than 10 years.

Keep reading to see how long $US1 million will last during retirement in 50 of the most populous US cities, according to GoBankingRates.


50. One million dollars will last 8 years, 3 months, and 19 days in San Francisco, California.

jejim/Shutterstock

Annual expenditures: $US136,965.98

Annual expenditures after using annual Social Security income: $US120,355.70

Median home value: $US1,392,859

Population: 870,044


49. One million dollars will last 10 years, 9 months, and 20 days in San Jose, California.

Getty Images

Annual expenditures: $US109,094.70

Annual expenditures after using annual Social Security income: $US92,484.42

Median home value: $US1,022,531

Population: 1,026,658


48. One million dollars will last 12 years, 8 months, and 16 days in New York City.

Alexander Spatari/Getty Images

Annual expenditures: $US95,209.92

Annual expenditures after using annual Social Security income: $US78,599.64

Median home value: $US652,728

Population: 8,443,713


47. One million dollars will last 13 years, 10 months, and 10 days in Oakland, California.

Getty Images/Adam Armstead / EyeEm

Annual expenditures: $US88,699.84

Annual expenditures after using annual Social Security income: $US72,089.56

Median home value: $US765,350

Population: 421,042


46. One million dollars will last 13 years, 11 months, and 19 days in Los Angeles, California.

Shutterstock

Annual expenditures: $US88,140.38

Annual expenditures after using annual Social Security income: $US71,530.10

Median home value: $US723,783

Population: 3,959,657


45. One million dollars will last 14 years and 25 days in Seattle, Washington.

Sean Pavone/Shutterstock

Annual expenditures: $US87,631.78

Annual expenditures after using annual Social Security income: $US71,021.50

Median home value: $US752,187

Population: 708,823


44. One million dollars will last 15 years, 1 month, and 21 days in Boston.

Sean Pavone/Shutterstock

Annual expenditures: $US82,596.64

Annual expenditures after using annual Social Security income: $US65,986.36

Median home value: $US631,997

Population: 679,413


43. One million dollars will last 15 years, 4 months, and 19 days in Long Beach, California.

Sean Pavone/Shutterstock

Annual expenditures: $US81,579.44

Annual expenditures after using annual Social Security income: $US64,969.16

Median home value:
$US606,820

Population: 468,883


42. One million dollars will last 15 years, 5 months, 1 day in San Diego, California.

Shutterstock

Annual expenditures: $US81,426.86

Annual expenditures after using annual Social Security income: $US64,816.58

Median home value: $652,175

Population: 1,401,932


41. One million dollars will last 16 years, 5 months, and 12 days in Washington, DC.

Photographer is my life./Getty Images

Annual expenditures: $US77,358.06

Annual expenditures after using annual Social Security income: $US60,747.78

Median home value:
$US636,372

Population: 684,498


40. One million dollars will last 20 years and 7 days in Portland, Oregon.

Matthew Bohrer Photography/Getty Images

Annual expenditures: $US66,524.88

Annual expenditures after using annual Social Security income: $US49,914.60

Median home value:
$US455,753

Population: 639,387


39. One million dollars will last 20 years, 5 months, and 15 days in Denver, Colorado.

Annual expenditures: $US65,456.82

Annual expenditures after using annual Social Security income: $US48,846.54

Median home value:
$US454,940

Population: 693,417


38. One million dollars will last 21 years, 8 months, and 21 days in Miami, Florida.

Getty Images

Annual expenditures: $US62,608.66

Annual expenditures after using annual Social Security income: $US45,998.38

Median home value:
$US366,519

Population: 451,214


37. One million dollars will last 22 years, 8 months, and 4 days in Austin, Texas.

Florin Seitan / EyeEm/ Getty Images

Annual expenditures: $US60,675.98

Annual expenditures after using annual Social Security income: $US44,065.70

Median home value:
$US394,095

Population: 935,755


36. One million dollars will last 22 years, 11 months, and 19 days in Sacramento, California.

Annual expenditures: $US60,116.52

Annual expenditures after using annual Social Security income: $US43,506.24

Median home value:
$US350,301

Population: 495,011


35. One million dollars will last 24 years, 10 months, and 20 days in Las Vegas, Nevada.

Dennis Hohl / EyeEm / Getty Images

Annual expenditures: $US56,759.76

Annual expenditures after using annual Social Security income: $US40,149.48

Median home value:
$US285,524

Population: 626,637


34. One million dollars will last 26 years, 3 months, 2 days in Atlanta, Georgia.

Getty Images/joe daniel price

Annual expenditures: $US54,674.50

Annual expenditures after using annual Social Security income: $US38,064.22

Median home value:
$US287,015

Population: 479,655


33. One million dollars will last 26 years, 5 months, and 18 days in Chicago, Illinois.

Sean Pavone/Shutterstock

Annual expenditures: $US54,369.34

Annual expenditures after using annual Social Security income: $US37,759.06

Median home value: $US242,601

Population: 2,718,555


32. One million dollars will last 26 years, 7 months, and 9 days Minneapolis, Minnesota.

Walter Bibikow/Getty Images

Annual expenditures: $US54,165.90

Annual expenditures after using annual Social Security income: $US37,555.62

Median home value:
$US286,055

Population: 416,021


31. One million dollars will last 26 years, 11 months, and 7 days in Virginia Beach, Virginia.

Shutterstock

Annual expenditures: $US53,708.16

Annual expenditures after using annual Social Security income: $US37,097.88

Median home value:
$US281,046

Population: 450,135


30. One million dollars will last 27 years, 4 months, and 7 days in Colorado Springs, Colorado.

photo.ua/Shutterstock

Annual expenditures: $US53,148.70

Annual expenditures after using annual Social Security income: $US36,538.42

Median home value:
$US316,396

Population: 457,502


29. One million dollars will last 27 years, 5 months, and 18 days in Mesa, Arizona.

Annual expenditures: $US52,996.12

Annual expenditures after using annual Social Security income: $US36,385.84

Median home value:
$US272,546

Population: 491,194


28. One million dollars will last 27 years, 7 months, and 27 days in Phoenix, Arizona.

miroslav_1/Getty Images

Annual expenditures: $US52,741.82

Annual expenditures after using annual Social Security income: $US36,131.54

Median home value:
$US263,253

Population: 1,610,071


27. One million dollars will last 28 years, 1 month, and 2 days in Fresno, California.

DenisTangneyJr / Getty Images

Annual expenditures: $US52,182.36

Annual expenditures after using annual Social Security income: $US35,572.08

Median home value:
$US251,405

Population: 522,277


26. One million dollars will last 28 years, 2 months, and 18 days in Raleigh, North Carolina.

Getty Images

Annual expenditures: $US52,029.78

Annual expenditures after using annual Social Security income: $US35,419.50

Median home value:
$US284,829

Population: 457,159


25. One million dollars will last 28 years, 5 months, and 30 days in Dallas, Texas.

Getty Images

Annual expenditures: $US51,673.76

Annual expenditures after using annual Social Security income: $US35,063.48

Median home value:
$US223,148

Population: 1,318,806


24. One million dollars will last in 28 years, 6 months, and 30 days in Nashville, Tennessee.

Mark Humphrey / APNashville, Tennessee.

Annual expenditures: $US51,572.04

Annual expenditures after using annual Social Security income: $US34,961.76

Median home value:
$US283,882

Population: 660,062


23. One million dollars will last 28 years, 7 months, and 30 days in Philadelphia, Pennsylvania.

Shutterstock

Annual expenditures: $US51,470.32

Annual expenditures after using annual Social Security income: $US34,860.04

Median home value:
$US184,555

Population: 1,575,522


22. One million dollars will last 28 years, 10 months, and 30 days in Arlington, Texas.

Annual expenditures: $US51,165.16

Annual expenditures after using annual Social Security income: $US34,554.88

Median home value:
$US218,707

Population: 392,462


21. One million dollars will last 29 years, 3 months, and 5 days in Fort Worth, Texas.

ShutterstockA home in Fort Worth, Texas

Annual expenditures: $US50,758.28

Annual expenditures after using annual Social Security income: $US34,148.00

Median home value:
$US210,110

Population: 855,786


20. One million dollars will last 29 years, 7 months, and 28 days in Charlotte, North Carolina.

Annual expenditures: $US50,300.54

Annual expenditures after using annual Social Security income: $US33,690.26

Median home value:
$US249,707

Population: 841,611


19. One million dollars will last 30 years, 9 months, and 10 days in Houston, Texas.

Duy Do/Getty Images

Annual expenditures: $US49,079.90

Annual expenditures after using annual Social Security income: $US32,469.62

Median home value:
2,295,982

Population: 2,295,982


18. One million dollars will last 30 years, 10 months, and 14 days in New Orleans, Louisiana.

Annual expenditures: $US48,978.18

Annual expenditures after using annual Social Security income: $US32,367.90

Median home value:
$US234,985

Population: 389,648


17. One million dollars will last 32 years, 3 months, and 16 days in Jacksonville, Florida.

joe daniel price/Getty Images

Annual expenditures: $US47,554.10

Annual expenditures after using annual Social Security income: $US30,943.82

Median home value:
$US190,347

Population: 878,907


16. One million dollars will last 33 years, 4 months, and 1 day in Tucson, Arizona.

Annual expenditures: $US46,587.76

Annual expenditures after using annual Social Security income: $US29,977.48

Median home value:
$US212,648

Population: 539,216


15. One million dollars will last 33 years, 7 months, and 13 days in Albuquerque, New Mexico.

turtix/Shutterstock

Annual expenditures: $US46,333.46

Annual expenditures after using annual Social Security income: $US29,723.18

Median home value:
$US211,574

Population: 559,202


14. One million dollars will last 34 years, 4 months, and 20 days in Omaha, Nebraska.

Getty Images/Matt Bills

Annual expenditures: $US45,672.28

Annual expenditures after using annual Social Security income: $US29,062.00

Median home value:
$US193,062

Population: 465,112


13. One million dollars will last 34 years, 5 months, and 11 days in San Antonio, Texas.

f11photo/Shutterstock

Annual expenditures: $US45,621.42

Annual expenditures after using annual Social Security income: $US29,011.14

Median home value:
$US185,085

Population: 1,486,521


12. One million dollars will last 35 years and 3 months in Louisville, Kentucky.

Shutterstock

Annual expenditures: $US44,960.24

Annual expenditures after using annual Social Security income: $US28,349.96

Median home value:
$US176,603

Population: 617,032


11. One million dollars will last 35 years, 4 months, and 17 days in Baltimore, Maryland.

Jon Bilous / Shutterstock.comHouses in Baltimore, Maryland.

Annual expenditures: $US44,858.52

Annual expenditures after using annual Social Security income: $US28,248.24

Median home value:
$US149,959

Population: 614,700


10. One million dollars will last 35 years, 9 months, and 5 days in Detroit, Michigan.

Paul Brady Photography/Shutterstock

Annual expenditures: $US44,553.36

Annual expenditures after using annual Social Security income: $US27,943.08

Median home value:
$US35,527

Population: 677,155


9. One million dollars will last 36 years, 8 months, and 10 days in Kansas City, Missouri.

Annual expenditures: $US43,841.32

Annual expenditures after using annual Social Security income: $US27,231.04

Median home value:
$US158,959

Population: 481,417


8. One million dollars will last 37 years, 2 months, and 7 days in Columbus, Ohio.

Annual expenditures: $US43,485.30

Annual expenditures after using annual Social Security income: $US26,875.02

Median home value:
$US170,492

Population: 867,628


7. One million dollars will last 37 years, 3 months, and 2 days in Oklahoma City, Oklahoma.

Annual expenditures: $US43,434.44

Annual expenditures after using annual Social Security income: $US26,824.16

Median home value:
$US140,138

Population: 637,284


6. One million dollars will last 37 years, 7 months, and 10 days in Milwaukee, Wisconsin.

Raymond Boyd / Getty Images

Annual expenditures: $US43,180.14

Annual expenditures after using annual Social Security income: $US26,569.86

Median home value:
$US130,714

Population: 596,886


5. One million dollars will last 38 years, 7 months, and 23 days in Indianapolis, Indiana.

Getty Images/Steve Taylor / EyeEm

Annual expenditures: $US42,468.10

Annual expenditures after using annual Social Security income: $US25,857.82

Median home value:
$US149,854

Population: 857,637


4. One million dollars will last 38 years, 10 months, and 15 days in Tulsa, Oklahoma.

Davel5957/Getty Images

Annual expenditures: $US42,315.52

Annual expenditures after using annual Social Security income: $US25,705.24

Median home value:
$US127,839

Population: 402,223


3. One million dollars will last 39 years, 8 months, and 27 days in Wichita, Kansas.

DenisTangneyJr / Getty Images

Annual expenditures: $US41,756.06

Annual expenditures after using annual Social Security income: $US25,145.78

Median home value:
$US135,819

Population: 389,563


2. One million dollars will last 40 years, 3 months, and 22 days in El Paso, Texas.

BrianWancho/Shutterstock

Annual expenditures: $US41,400.04

Annual expenditures after using annual Social Security income: $US24,789.76

Median home value:
$US136,499

Population: 680,354


1. One million dollars will last 45 years, 4 months, and 1 day in Memphis, Tennessee.

Getty Images/Dan Reynolds Photography

Annual expenditures: $US38,653.60

Annual expenditures after using annual Social Security income: $US22,043.32

Median home value:
$US95,422

Population: 653,248

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.