• It is getting harder to retire with only $1 million saved up.
  • SmartAsset calculated the average cost of living for retirees to see how many years $1 million would last in over 250 cities.
  • Southern states dominated the list, with Texas claiming the most spots. Major cities in Texas have affordable housing markets and the state is home to many of the best places to live in 2018, according to US News.

It is getting harder to retire with only $1 million saved up. Ten years ago, $1 million had the same buying power of just under $1.2 million, according to the Bureau of Labor Statistics inflation calculator.

In a new study, SmartAsset calculated the average cost of living for retirees to see how many years $1 million would last in over 250 big and mid-sized US cities. SmartAsset looked at average annual expenses for seniors throughout the country and applied cost of living data on housing, food, healthcare, transportation, and utilities.

To determine how long $1 million would last in each city, SmartAsset assumed $1 million would grow at 2% rate of return (that’s interest minus inflation). The sum of each annual number was divided by $1 million to calculate how many years it would last retirees.

Southern states dominated the list, with Texas claiming the most spots. Major cities in Texas have affordable housing markets and the state is home to many of the best places to live in 2018, according to US News.

Below, check out the top 22 cities where $1 million would last retirees 28 years or more, along with the average annual expenses for housing, food, and healthcare.

1/22

22. Salina, Kansas — 28.16 years

22. Salina, Kansas — 28.16 years City of Salina/Facebook

Housing expenses: $6,463

Food expenses: $5,214

Healthcare expenses: $5,839

2/22

21. Burlington, Iowa — 28.20 years

21. Burlington, Iowa — 28.20 years Erin Cogswell/Shutterstock

Housing expenses: $5,936

Food expenses: $5,493

Healthcare expenses: $6,222

3/22

20. Oklahoma City, Oklahoma — 28.24 years

20. Oklahoma City, Oklahoma — 28.24 years Austin Urton/Shutterstock

Housing expenses: $6,599

Food expenses: $5,426

Healthcare expenses: $5,789

4/22

19. Brownsville, Texas — 28.30 years

19. Brownsville, Texas — 28.30 years Roberto Galan/Shutterstock

Housing expenses: $6,954

Food expenses: $5,323

Healthcare expenses: $5,576

5/22

17 (TIE). Sherman, Texas — 28.38 years

17 (TIE). Sherman, Texas — 28.38 years Sherman, Texas – Classic Town. Broad Horizon./Facebook

Housing expenses: $6,545

Food expenses: $5,935

Healthcare expenses: $5,720

6/22

17 (TIE). Danville, Virginia — 28.38 years

17 (TIE). Danville, Virginia — 28.38 years Danville, VA – Government/Facebook

Housing expenses: $7,581

Food…