'A great place to grow old': Forbes ranks Spokane in top 25 places to retire

May 11-A big city with a small-town feel.

Ask any Spokanite to summarize the Lilac City in a sentence, and there's a good chance that's what they'll say.

That big, but not too massive, appeal of the city may be one of the reasons Forbes recently ranked Spokane as one of the top 25 places to retire in 2026.

The business magazine compared about 1,000 locations with living costs, including taxes, and housing prices being key determining factors. Air quality, crime rates, biking and walkability, primary care access, climate change risk, and chances of extreme weather events were also considered.

Since 1973, Clarence "Bud" Barnes has called Spokane his home. The professor of economics at Gonzaga University served for more than 30 years as dean of the school of business before stepping down about 10 years ago so he could teach again .

"First of all, Spokane has been blessed by adequate property availability, and housing prices have remained, compared to the national average, somewhat below," Barnes said. "So it's been an attractive place for retirees to reinvest their money, especially when they come out of communities where the property values are very high."

Both Zillow and Forbes reported that the average home value in Spokane is $395,000. Pasco, which was also included in Forbes' list, has an average home value of $418,000. Meanwhile, the average Washington home value is about $601,000, according to Zillow.

Forbes pointed out that the natural hazard risk in Spokane is moderate, but that the crime rate is above the national average.

Many of the list's cities have mixed-age demographics, often because those destinations are considered to be college towns. Between Eastern, Whitworth, Gonzaga and Spokane Falls Community College, it would seem Spokane fits the bill.

"We have very favorable utility rates," Barnes said, of what else may draw retirees to Spokane. "Our utility rates, comparatively speaking, are some of the lowest in the nation."

Energysage, a free website that allows viewers to compare utility rates backed by the U.S. Department of Energy, reported that as of May, Spokane residents spent about $217 a month on electricity. This is roughly 27% lower than the national average.

Another reason Spokane is a lovely place to enjoy one's "golden years" is based on geography, Barnes said. And it's not just the winding river that runs through the heart of the city or the pristine nature and plethora of hikes surrounding the outskirts - it's also the access to fresh fruits and vegetables.

Still, many market trackers, including Payscale, a website that gathers market data, say the price of groceries in Spokane is between 7%-10% more than the national average. The prices here are worse because of supply chain issues, rising transportation costs and heightened operational costs for food producers.

Kate Hudson, the director of marketing for Visit Spokane, said the abundance of arts and culture, coupled with the relatively low cost of living and easy accessibility to local parks, makes the quality of life in Spokane rather charming. But that's not the main thing, she said, that makes Spokane ideal for the elderly.

"First and foremost, it's the access to healthcare," she said. "It's (Spokane) the biggest medical hub between Seattle and Minneapolis. It's a great place to grow old."

Apparently not everyone thinks that way. A May study from Greater Spokane Inc. found that 59% of Spokane residents and 68% of Spokane County residents are actively considering moving out of the area. These numbers have not changed much from when the same question was asked in April 2025.

Out of those considering leaving Spokane, 21% pointed to taxes as the main reason, 19% cited "government/leadership/politics," while 17% of respondents said the cost of living and housing was their main reason for wanting to leave.

"People are leaving the state, there's no doubt about it," Barnes said. "Very wealthy people are leaving, but I'm not leaving. First of all, I'm not at that level of income where I can feel threatened."

Barnes referenced the millionaires tax that will add a 9.9% tax on households with wages that exceed $1 million starting in January 2028 as a reason for the exodus of the affluent.

He said the Starbucks relocation to Nashville from Seattle is evidence of wealthy people, including profitable business behemoths, leaving the Evergreen State behind. But not Barnes. He's lived 54 years here and plans to keep that streak going. When he retires, probably in the next two or three years, he might take a couple vacations somewhere tropical, but home base will always be in Spokane.

"I came the year before the World's Fair," Barnes said. "One of the things that I've observed is we've moved away from being a somewhat provincial city to being a much more progressive, dynamic city where there's a lot of forethought about economic development in general. When I first came, we seemed to be always looking in the rearview mirror. It seems that today, I look at Spokane, and it seems like we're always looking forward."

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This story was originally published May 11, 2026 at 11:42 PM.