Retired folks relocate for a variety of reasons, but moving to a place with a lower cost of living (and more relaxed lifestyle) are the best reasons for moving to a place like San Antonio, which was just named one of the best cities to put away those work boots.

The Alamo City ranked No. 2 in SmartAsset's new national ranking of "Where Retirees Are Moving – 2024 Study," published May 2. San Antonio had the second highest rate of retirees flocking to the city, right behind Mesa, Arizona, in the top spot.

To determine where retirement-age Americans are moving, the report relied on Census Bureau data from 182 large U.S. cities and all 50 state populations with people aged 60 and older. Net migration was determined by subtracting the number of retirees who moved out of their cities in 2022, and the number that moved into the respective cities from out-of-state.

The report found San Antonio's population of retirement-age folks amounted to more than 272,000 people, representing 18.5 percent of the total population. A little more than 4,100 seniors moved into the city from out-of-state, and only 1,166 moved out, showing a net migration of 2,936 retirees.

Retirement lifestyles don't seem to be as compatible with the status quo in Austin or Dallas, which landed far outside the top 100 cities as No. 133 and No. 157, respectively.

So, why are retirees picking San Antonio over most other U.S. cities? Other than the city's affordability (especially in comparison to many other big Texas cities), San Antonio has fairly favorable weather, and it's surrounded by many other top retirement destinations like New Braunfels and Boerne.

"As people retire, their goals shift, often causing them to reconsider where they’re living and how they spend their money," the report's author wrote. "Places with a high cost of living, high taxes and cold winters, for example, could influence retirees to move to warmer locations where they can stretch their retirement savings further and enjoy their free time."

Other Texas cities that earned spots in the top 10 are Houston (No. 7) and Fort Worth (No. 8). Houston had a net migration of 1,139, with 4,675 seniors moving into the city and 3,536 moving out in 2022. Fort Worth only saw 989 seniors move out of the city in the same time period, and 2,119 moved in, creating a net migration of 1,130.

The top 10 U.S. cities that had the highest inflow of retirement-age folks are:

• No. 1 – Mesa, Arizona
• No. 2 – San Antonio, Texas
• No. 3 – Henderson, Nevada
• No. 4 – St. Petersburg, Florida
• No. 5 – Murfreesboro, Tennessee
• No. 6 – Chattanooga, Tennessee
• No. 7 – Houston, Texas
• No. 8 – Fort Worth, Texas
• No. 9 – Atlanta, Georgia
• No. 10 – Clearwater, Florida

Texas is an overall top destination for retirees
In a statewide comparison, Texas came out on top as the No. 4 top state for retirees. The Lone Star State's 60-plus demographic adds up to nearly 5.7 million people, making up 19 percent of the total population.

Less than 69,000 seniors moved into Texas in 2022, with a little more than 50,000 making the opposite move, creating a net migration of 18,742 retirement-age residents.

Texans may want to take the city-level findings with a grain of salt, as the report points out that its data doesn't factor in-state migration, only state-to-state migration. Plus, not all retirees are 60 years old, nor do they all live in one singular place.

"For example, if a person moved to Phoenix from Scottsdale, [Arizona,] they would not be factored into our data," the report added. "Some retirees might live in multiple places throughout the year; this is not reflected in our metrics."

The three states that outperformed Texas in the statewide analysis were Florida (No. 1), Arizona (No. 2), and South Carolina (No. 3). North Carolina rounded out the top five.

The full report can be found on smartasset.com.