Finding the perfect place to retire can be difficult, especially as inflation diminishes the value of our money, making many places too costly.
Despite rising living expenses across the country, some areas manage to offer a mix of affordability and urban amenities.
Listed below are 10 of the most budget-friendly retirement spots in the United States.
10: Huntsville, AL
Huntsville offers an ideal blend of a technologically advanced southern city with a relatively affordable lifestyle. For enthusiasts of space exploration, it home to NASA’s Marshall Space Flight Center. The cost of living in Huntsville is 9% below the national average, with housing costs being 26% lower, making it a prime choice for those looking for affordable housing options in Alabama.
9. Casper, WY
Slightly smaller than Cheyenne, the capital of Wyoming, Casper is home to around 54,000 residents who enjoy a combination of outdoor adventures and cultural experiences. Enjoy staying active with hikes along the North Platte River or up Casper Mountain. For museum lovers, Casper offers a variety of options. Additionally, the city has a diverse selection of restaurants and theater groups to cater to various tastes.
8. Memphis, TN
Known as the Home of the Blues and the Birthplace of Rock and Roll, Memphis provides an affordable and vibrant retirement option in Tennessee. It’s a perfect choice for music and history enthusiasts or those who enjoy nightlife, with its array of bars along Beale St.
For the more active retirees, Memphis offers a plethora of outdoor activities including parks, golf courses, hiking and running trails, boating, and fishing. Notably, Shelby Farms, the 2nd largest county park in the nation, spans over 4,500 acres. Located in southwestern Tennessee, Memphis is situated along the Mississippi River.
7. Rochester, NY
If you’re fond of snowy weather, Rochester should be your top choice. With an average snowfall ranging between 70 and 120 inches annually, proximity to the eastern shore of Lake Ontario plays a role. Once the snow clears, you’ll find yourself in a culturally rich city.
Rochester boasts two major universities, the University of Rochester and the Rochester Institute of Technology. With a median homeownership cost of just $1,300 per month, it presents an affordable retirement option within New York state.
6. Huntington, WV
Despite its modest population of around 50,000 residents, Huntington serves as a central hub for nearby metropolitan areas spanning multiple counties across three states, bringing the total regional population to over 360,000.
With a cost of living at just 75% of the national average, Huntington offers an exceptionally affordable lifestyle. The average home price in the city stands at a mere $83,100.
Home to Marshall University, Huntington is an excellent choice for those considering relocation with college-aged children. Its expansive park system includes gems like Ritter Park, where residents can enjoy green spaces, tennis courts, a dog park, and theater performances.
5. Cheyenne, WY
Wyoming is an ideal destination for outdoor enthusiasts seeking to avoid large crowds while being mindful of their budget. With housing prices in Cheyenne being 7% below the national average, it stands out as one of the most affordable state capitals in the nation. Despite its capital status, Cheyenne is home to only about 60,000 residents, yet it offers all the amenities expected from a capital city.
Utility costs in Wyoming are notably 19% lower than the national average, with healthcare, transportation, and expenses for goods and services also being 6 to 8% cheaper.
4. Chattanooga, TN
Located in southern Tennessee, Chattanooga offers an affordable haven for retirees. Similar to Florida, Tennessee boasts no state income tax, making it an attractive option for those looking to minimize their tax burden as they transition into retirement.
The average cost of living in Chattanooga is below the national average, and both Hamilton County property taxes and utility expenses are reasonable. Despite being a sizable city, Chattanooga maintains a charming small-town ambiance, providing residents with the conveniences typically found in larger metropolitan areas alongside the warm sense of community characteristic of a smaller town.
3. Jacksonville, FL
Jacksonville, known for its slogan “It’s easier here,” offers plenty attractions that might just prove the slogan true. With over 20 miles of nearby beaches, 40 miles of the Intracoastal Waterway, numerous parks, green spaces, and an abundance of retirement communities, Jacksonville provides ample opportunities to enjoy your senior years. Additionally, since Florida lacks a state income tax, moving there before retiring could potentially save you money.
However, Jacksonville’s average summer temperature reaches 91 degrees in August, accompanied by high humidity. Therefore, being comfortable in Florida requires being okay with steamy summers.
2. Augusta, GA
Augusta holds the honor of being named the best place to live and retire in the state of Georgia by U.S. News and World Report. With its warm climate and affordable cost of living, Augusta appeals to many. Situated near the Savannah River, the city boasts green spaces and charming shops, offering residents a delightful blend of urban and suburban lifestyles.
For visitors to the area, a must-see attraction is the Augusta Museum of History, where you can explore costumes and memorabilia belonging to the legendary Godfather of Soul, James Brown.
1. Tucson, AZ
Tucson experiences hot summer temperatures, with an average June high of 102 Fahrenheit. However, despite the heat, the cost of living in this expanding southwestern city remains reasonable, making it an attractive option for retirees. With a population of 550,000, Tucson offers a lower-than-average cost of living while providing all the amenities expected of a major urban center.
For those seeking a break from city living, two of Tucson’s southern suburbs, Green Valley and Sahuarita, offer affordable housing options approximately 20 minutes outside the city, providing a more tranquil lifestyle.
Conclusion
Finding an affordable place to retire in the United States is not only possible but can also lead to a fulfilling and enjoyable retirement lifestyle.
By carefully considering factors such as cost of living, healthcare accessibility, climate, and community atmosphere, retirees can make informed decisions to ensure their golden years are spent in comfort and contentment.
With proper planning and research, the transition to retirement in one of these affordable locales can be a smooth and rewarding experience, allowing individuals to embrace new adventures and create lasting memories in their chosen retirement destination.
