DC area retirees have highest incomes; Virginia city tops retirement earnings list

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WASHINGTON - Retirees in the Washington, D.C. region enjoy the highest retirement incomes in the nation, according to a new study.

SmartAsset ranked 345 of the largest U.S. cities according to the mean retirement incomes for seniors. The totals include income from retirement accounts and Social Security benefits.

Arlington, Virginia ranked first overall on the list. The northern Virginia city has the highest paid retirees with a mean income of $90,140.

Nearby Alexandria, Virginia ranks fifth overall with an average of $77,952.

Washington, D.C. ranks eighth overall with an average retirement income of $75,088.

Analysis from SmartAsset says most of this is due to higher income from pensions, IRAs and other retirement accounts, rather than Social Security payments.

Including Arlington and Alexandria, Virginia, cities appear on the list a total of eight times, with Virginia Beach, Chesapeake, Richmond, Newport News, Hampton, and Norfolk earning spots.

FILE - Retired couple on vacation. (Photo by Tim Graham/Getty Images)

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Columbia, Maryland is the highest ranked Maryland city coming in number 13 overall. The only other Maryland town to earn a spot on the list is Baltimore and number 197.

According to the study, the average retirement income for large U.S. cities is $52,723. Ann Arbor, Michigan retirees have the largest Social Security benefits at $30,428 per year. Retirees in Lewisville, Texas rely on Social Security benefits at a higher rate than anywhere else in the country.