Are you saving enough for retirement?

Where you live – and how you live – can have a tremendous impact on your finances and savings. But which cities provide the best opportunities to build a financial nest egg when saving for retirement?

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According to a new study by financial resource MutualFund.com, several cities within the Phoenix metro area rank in the nation’s top 10 best cities to build a nest egg including Gilbert (No. 4), Chandler (No. 7), and Mesa (No. 9).

For example, here are the highlights for Gilbert, Arizona:

  • Monthly housing costs: $1,918
  • Cost-burdened homeowners: 17.0%
  • Percentage of homeowners with paid-off mortgages: 23.1%
  • Year-over-year income growth: 6.3%
  • Home price-to-income ratio: 5.1

Here are the highlights for Chandler, Arizona:

  • Monthly housing costs: $1,848
  • Cost-burdened homeowners: 19.9%
  • Percentage of homeowners with paid-off mortgages: 27.0%
  • Year-over-year income growth: 4.3%
  • Home price-to-income ratio: 5.2

Here are the highlights for Mesa, Arizona:

  • Monthly housing costs: $1,689
  • Cost-burdened homeowners: 23.1%
  • Percentage of homeowners with paid-off mortgages: 35.8%
  • Year-over-year income growth: 14.8%
  • Home price-to-income ratio: 5.4

To establish rankings, data from America’s 170 largest cities were analyzed. Twelve weighted factors were compared, including household income, housing costs, poverty rate, and tax rates. Variables such as income growth, housing prices, cost of living, and unemployment rates were assessed to determine overall rankings.

Here’s the full study where you can find additional rankings and the list of top 25 cities.