This article takes a look at the 10 cheapest places across America where you will want to retire. If you wish to check out our detailed analysis on retirement savings in the US, you may go to 30 Cheapest Places Across America Where You Will Want to Retire.
10. Decatur, Alabama
Insider Monkey Score: 25
Cost of Living: 83.1
Livability Score: 71
Friendly people, plentiful amenities, natural beauty, and good-quality healthcare make Decatur another good option for seniors to call home. There is plenty to do here, such as exploring the many historical landmarks and parks.
9. Cleveland, Ohio
Insider Monkey Score: 25.5
Cost of Living: 83
Livability Score: 71
Cleveland is another cheap place across America where you will want to retire. Homes in the area sell for a median home price of $100,000 as per Redfin, and downtown is the highlight of the city depicting a large metropolis.
8. Brownsville, Texas
Insider Monkey Score: 26
Cost of Living: 74.9
Livability Score: 78
Nearby beaches, low cost of living, and pleasant climate make Brownsville another cheap yet desirable location to retire to. The city offers retirees a good quality of life, affordable housing options, and plenty to do.
7. Wichita, Kansas
Insider Monkey Score: 29
Cost of Living: 82.8
Livability Score: 66
Ignoring the weather extremities, Wichita can be a cheap and affordable retirement destination. The median price of a home in the city is around $220,000; while the average rent for a one-bedroom apartment is $762.
6. Peoria, Illinois
Insider Monkey Score: 29.5
Cost of Living: 75.6
Livability Score: 74
The picturesque river city of Peoria is an ideal destination for seniors who are looking to retire on a budget. Retirees get to enjoy many restaurants, entertainment venues, and cultural centers, as well as a cost of living that is 24.4% lower than the national average.
5. Hot Springs, Arkansas
Insider Monkey Score: 30
Cost of Living: 83.5
Livability Score: 62
Boasting a mild climate, good healthcare, and an affordable cost of living, Hot Springs also makes it to our list of cheapest places across America to retire to. Seniors can enjoy many activities here, such as a dinner cruise, visiting art galleries and studios, and exploring the many recreation spots.
4. Toledo, Ohio
Insider Monkey Score: 33.5
Cost of Living: 77.4
Livability Score: 66
Another affordable retirement city worth exploring is Toledo, Ohio. Situated on the banks of the Maumee River, the city is famous for its pleasant small-town atmosphere, friendly locals, and plentiful amenities.
3. Augusta, Georgia
Insider Monkey Score: 35
Cost of Living: 80
Livability Score: 63
Another nice and affordable place to retire in the US is Augusta, Georgia. The age-friendly city boasts a cost of living that is 20% lower than the national average. Moreover, the median price of a home in the city is $182,000 only.
2. Jackson, Mississippi
Insider Monkey Score: 37.5
Cost of Living: 76.1
Livability Score: 63
Another city revered for its small-town charm without compromising on big-city amenities is Jackson, Mississippi. Seniors get to enjoy a thriving cultural scene, many museums and historical landmarks, and a budget-friendly retirement experience.
1. Shreveport, Louisiana
Insider Monkey Score: 38
Cost of Living: 77.7
Livability Score: 60
Shreveport in Louisiana is another mid-sized city ideal for seniors to enjoy their golden years. The cost of living in Shreveport is 22.3% lower than the national average, and the livability score is also decent. Besides the low cost of living, the city is also known for its cultural offerings and world-class entertainment options.
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