How much you should save to retire in New York City, San Francisco, and 8 other expensive US cities

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Columbus Circle in Manhattan.
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Shutterstock

If you want to retire under the lights of New York City, you’ll need at least $2.25 million in savings.

That’s according to SmartAsset’s recent report, which determined the average savings needed to retire in the least affordable cities for retirees, assuming a 30-year retirement.

Using data from the Bureau of Labor Statistics and the Council for Community and Economic Research, SmartAsset calculated the spending required to maintain the average standard of living for seniors in each particular city. It also took into account annual Social Security income, using the national average of $17,189.

(Read the full methodology.)

If you’re planning to fully retire in these 10 major cities without having to work part-time, here’s how much it’s estimated you would need in your retirement account in order to live off Social Security and savings alone:


10. Los Angeles, California: $994,377

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Venice Beach in LA.
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Shutterstock

Read about the true cost of living in Los Angeles.


9. Boston, Massachusetts: $1,015,740

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A quaint street in Beacon Hill, a historical neighborhood in Boston.
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Shutterstock

8. San Diego, California: $1,024,980

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Picturesque San Diego.
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Shutterstock.com

Read about the true cost of living in San Diego.


7. Oakland, California: $1,051,979

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Lake Merritt, just east of downtown Oakland.
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Shutterstock

6. Washington, DC: $1,087,387

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The Washington Monument from the Constitution Gardens.
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Shutterstock

Read about the true cost of living in Washington, DC.


5. Stamford, Connecticut: $1,138,981

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Stamford is a quick train ride away from New York City.
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barbsimages / Shutterstock.com

4. Orange County, California: $1,206,300

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Laguna Beach, a seaside town in southern Orange County.
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Shutterstock

3. San Francisco, California: $1,487,718

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The “Painted Ladies” of San Francisco.
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Patrick Smith

Read about the true cost of living in San Francisco.


2. Honolulu, Hawaii: $1,663,195

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The beaches and views in Honolulu are hard to top.
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Shutterstock

1. New York City, New York: $2,250,845

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Columbus Circle, one of the most expensive places to live in Manhattan.
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Shutterstock

Read about the true cost of living in New York City.