Who says retirement has to be expensive?! If you’re looking for a place to retire that offers affordability and fun, there are countless great cities across this country you should consider. From the East Coast to the West Coast to everywhere in between, here is our countdown of the 30 most appealing and affordable places to retire.
Grand Junction, Colorado
Cost of Living for Retirees: 4.4% Below U.S. Average
Colorado keeps taxes low for retirees. Those 55 and up can deduct $20,000 of retirement income, and those 65+ can deduct up to $24,000 and fully deduct Social Security income. Grand Junction offers abundant outdoor activities including hiking, biking, rafting, skiing, and snowshoeing. Lifetime healthcare costs are below average. Retirees comprise 15.6% of Grand Junction’s population.
Columbia, Missouri
Cost of Living for Retirees: 4.8% Below U.S. Average
comprise 8.5% of Columbia’s population. Home to three colleges, Columbia is filled with shops, restaurants, bookstores, and more. Its hospitals and healthcare services are top-rated. Columbia is ranked third as the best small metro area for successful aging. A one-bedroom in an assisted-living facility is $35,640. Housing costs are 13.3% below the national average. Missouri’s tax-friendliness is so-so.
Fort Myers, Florida
Cost of Living for Retirees: 5% Below U.S. Average
With its warm climate, beaches, and historical charm, Fort Myers is a budget-friendly alternative to other Florida cities. Retirees can enjoy waterfront views and low property taxes.
Sandy Springs, Georgia
Cost of Living for Retirees: 5.1% Below U.S. Average
Georgia is among the most tax-friendly states for seniors. Retirees make up 10.8% of the population in Sandy Springs. Lifetime healthcare costs are below average. There is lots to do both indoors and out. The Marta train to downtown Atlanta’s Five Points shopping district is less than 40 minutes and costs only $2.50.
Punta Gorda, Florida
Cost of Living for Retirees: 5.2% Below U.S. Average
With no state income tax, Florida ranks among the most-friendly tax states. The desirable climate and attention toward seniors in Punta Gorda are reasons 47.9% of its population are retirees. There are numerous 55+ communities with waterfront sites, fishing, golfing, and 18 miles of bike trails and pedestrian pathways. Unfortunately, lifetime healthcare costs are above average.
Sioux Falls, South Dakota
Cost of Living for Retirees: 5.8% Below U.S. Average
With no state income tax, South Dakota ranks among the most tax-friendly for retirees. Retirees encompass 10.9% of Sioux Falls’ population. The median home value is $152,200. The overall cost of living is low. Sioux Falls is rated the best small metro area for successful aging, with lots of facilities specializing in geriatric services and below-average lifetime healthcare costs.
Pittsburgh, Pennsylvania
Cost of Living for Retirees: 6% Below U.S. Average
Pittsburgh is known for its affordable housing, rich history, and access to excellent medical facilities. With a revitalized downtown and cultural offerings, it’s an ideal spot for retirees looking for city life without the high costs.
Spokane, Washington
Cost of Living for Retirees: 6.0% Below U.S. Average
Spokane’s housing-related costs are 13.4% below average, with a median home value of $160,500. However, healthcare costs are 10.5% above the national average. Retirees comprise 12.8 percent of the population. Single occupancy in an assisted-living facility runs $48,000 a year. Spokane offers boating, fishing, biking, hiking, and 33 golf courses. There are over 20 wineries and breweries.
Chattanooga, Tennessee
Cost of Living for Retirees: 6.0% Below U.S. Average
Tennessee ranks among the most tax-friendly states with no state income tax. Retirees encompass 14.7% of Chattanooga’s population. Housing-related costs are 12.9% below average with the median home value at $138,100. There is abundant outdoor recreation and indoor activities. Chattanooga has a high crime rate, but there are safe neighborhoods, such as Ryall Springs and West View.
Boise, Idaho
Cost of Living for Retirees: 7.3% Below U.S. Average
Although Boise is a college town, retirees make up 11.2% of the population. There is a lot to do here for outdoor lovers, including flyfishing, golfing, boating, kayaking, skiing, and more. You can walk, run, or bike on more than 20 miles of paved trails of the Boise River Greenbelt. Lifetime healthcare costs are below average. Idaho’s tax-friendliness is so-so.
Hot Springs, Arkansas
Cost of Living for Retirees: 7.5% Below U.S. Average
Arkansas is a tax-friendly destination for retirees. Retirees make up 21.3% of Hot Springs’ population. Lifetime healthcare costs are 12.2% below average. Housing is 24.1% below average. The median home value is $115,600. The area features 11 championship golf courses, as well as fishing and boating at one of 3 local lakes.
Lexington, Kentucky
Cost of Living for Retirees: 7.8% Below U.S. Average
Kentucky is a tax-friendly state for retirees. Lexington’s population is 10.5% retirees. Lifetime healthcare costs are average. Lexington offers a wealth of things to do with more than 100 parks, six public golf courses, and a 734-acre nature preserve with more than 10 miles of hiking trails. There are galleries, theaters, an opera house, and more.
Lansing, Michigan
Cost of Living for Retirees: 8% Below U.S. Average
Lansing offers affordable housing, healthcare, and various cultural attractions for people of all ages. The city’s strong community vibe and access to nature make it a perfect retirement destination.
Topeka, Kansas
Cost of Living for Retirees: 8.0% Below U.S. Average
Kansas is one of the 10 best states for retirement thanks to its low cost of living. The median home price is far below the national average at $95,600. Lifetime healthcare costs for retirees are below average. Retirees make up 14.3% of Topeka’s population. The tax friendliness for retirees in Kansas is so-so.
St. George, Utah
Cost of Living for Retirees: 8.5% Below U.S. Average
The cost of living in all categories, including groceries, housing, and healthcare, all fall below the national average here. Retirees make up 19% of the population. There are abundant outdoor activities and St. George hosts the annual Huntsman World Senior Games. Plus, Las Vegas is only two hours away. Unfortunately, Utah is not a tax-friendly state.
Omaha, Nebraska
Cost of Living for Retirees: 8.5% Below U.S. Average
Omaha is an affordable place to live, with retirees comprising 11.4% of its population. The median home value is $133,500. Nursing home costs are below the national median at $82,125 a year. Healthcare professionals and facilities are abundant. Omaha is rated the second-best large metro area for successful aging. Unfortunately, it’s among the least-tax-friendly states.
Roanoke, Virginia
Cost of living for retirees: 8.7% below U.S. average
Retirees make up 14.3% of Roanoke’s population. The city ranks below average in every cost-of-living category. Housing-related expenses are 11.7% below the national average, with the median home value at $134,700. Seated between the Blue Ridge and Allegheny Mountains, there are endless outdoor activities. Indoor types can sample tastes from local wineries and breweries. Virginia’s tax-friendliness is so-so.
Tucson, Arizona
Cost of Living for Retirees: 9% Below U.S. Average
Tucson offers retirees desert beauty, mild winters, and affordable living. Housing costs are lower than in neighboring Phoenix, and the city is known for its vibrant arts scene and outdoor activities.
Chattanooga, Tennessee
Cost of Living for Retirees: 9% Below U.S. Average
Chattanooga is the perfect destination for people who love to be outside. The city offers retirees affordable living with a backdrop of scenic beauty, thanks to its proximity to the Appalachian Mountains and Tennessee River. The city also has a burgeoning arts and cultural scene.
Des Moines, Iowa
Cost of Living for Retirees: 9.1% Below U.S. Average
Retirees comprise 11% of Des Moines’ population. Iowa is one of the ten best states for retirement, and Des Moines was rated #7 out of 100 large metro areas for successful aging. There are lots of healthcare facilities and those specializing in aging-related services. Des Moines is one of the best big cities to live in on a small budget.
Columbus, Ohio
Cost of Living for Retirees: 9.4% Below U.S. Average
Columbus is one of the most affordable big cities in the US. Plus, there’s an abundance of things to do. Groceries, healthcare, and housing are below the national average across the board. The median home value is only $130,700. A private room in a nursing home runs $75,920 a year. Columbus’ retirement population is 8.6%. Ohio’s tax-friendliness is so-so.
Bloomington, Indiana
Cost of Living for Retirees: 9.8% Below U.S. Average
Retirees only make up 7.9% of Bloomington’s population. However, its living costs are low. Housing expenses for retirees run 19.5% below the national average. Unfortunately, Indiana is not a tax-friendly state for retirees. However, if you’re interested in continuing your education, state schools offer 50% off tuition for those sixty and up for up to nine credit hours a semester.
Cheyenne, Wyoming
Cost of Living for Retirees: 11% Below U.S. Average
Cheyenne offers low property taxes, no state income tax, and a small-town feel with plenty of Western charm. Its low cost of living makes it an affordable option for retirees seeking peace and quiet.
Decatur, Alabama
Cost-of-Living: 11% Below U.S. Average.
Alabama is a tax-friendly place for retirees and the lifetime healthcare cost is below average. The share of retirees (age 65+) within the population of Decatur matches the national average of 14.5%. The median home value is $120,400. Best of all, homeowners 65 and older are exempt from state property taxes, and some, if not all, local property taxes.
Read More: 20 Tips for a Happy Retirement
Tulsa, Oklahoma
Cost of Living for Retirees: 11.6% Below U.S. Average
Tulsa is a very affordable city with lots to do, including numerous tennis courts and public golf courses, biking, hiking, a river, and abundant arts. Housing costs are 34.9% below average. The median home value is $122,200. A private room in a nursing home runs $64,788 a year. Retirees are 12.5% of Tulsa’s population. Oklahoma is tax-friendly for retirees.
Read More: Here’s How Each State’s Cost of Living Ranks
Cedar Rapids, Iowa
Cost of Living for Retirees: 12% Below U.S. Average
Cedar Rapids is a hidden gem for retirees seeking both affordability and quality of life. Not only does the city have a low cost of living and access to excellent healthcare, it’s also full of hidden gems.
Sherman, Texas
Cost of Living for Retirees: 13.0% Below U.S. Average
No state income tax makes Texas among the most tax-friendly states. Overall living costs are cheap in Sherman, running 24.8% below average. The median home value is $98,100 in Sherman proper and $79,100 in Denison (part of the Metro area). Retirees make up 13.2% of Sherman’s population. There’s lots of outdoor recreation and community gatherings. Dallas is an hour away.
Read More: 20 Tips for Early Retirement
Greenville, South Carolina
Cost of Living for Retirees: 14% Below U.S. Average
This Southern gem offers a charming downtown, as well as a fairly affordable cost of living. Plus, its mild climate and proximity to mountains and beaches make it an ideal retirement spot.
San Antonio, Texas
Cost of Living for Retirees: 14% Below U.S. Average
San Antonio is one of the most affordable large cities in the U.S. Retirees can enjoy a rich cultural scene, affordable housing, and no state income tax, making it a financial-friendly place to settle down.
Las Cruces, New Mexico
Cost of Living for Retirees: 15% Below U.S. Average
Las Cruces offers a desert landscape, a warm climate, and a low cost of living, particularly when it comes to housing. The city is known for its beautiful views of the Organ Mountains.
