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Picking a spot to retire may come down to more than just sunshine. While consistently warm weather can improve a retirement location, low costs may boost an area's prospects even more, a new survey suggests.

The survey by Bankrate.com evaluated 172 American cities on metrics including cost of living, tax burden, health care quality, weather, ease of transportation and senior well-being. Retirees heading to Arizona may have found a haven for their golden years.

Scroll through to see the five best and five worst cities for retirement, according to Bankrate.

Read MoreThe best and worst states for retirement

By CNBC's Jacob Pramuk
Posted 8 June 2015

Allison Michael Orenstein | Getty Images