This article takes a look at the 10 most affordable places to retire in the U.S. in 2024. If you wish to check out our detailed analysis of financial realities, you may go to the 25 Most Affordable Places to Retire in the U.S. in 2024.
10. Florence, Alabama
Insider Money Score: 56
IM Cost of Living Index: 83
Median Home Price: $235,000
Livability Score: 81
One of the best southern cities to retire to, Florence in Alabama doesn’t only boast affordability for its seniors, but also cultural richness, outdoor recreational opportunities, and access to quality healthcare facilities. Seniors can also engage in lifelong learning at the University of North Alabama.
9. Asheboro, North Carolina
Insider Money Score: 59
IM Cost of Living Index: 82.8
Median Home Price: $230,000
Livability Score: 72
Residents can stretch their retirement dollars quite far when they choose to retire in Asheboro, North Carolina. Its touristy vibe, attractive downtown, and golf courses keep residents busy and entertained.
8. Kalamazoo, Michigan
Insider Money Score: 59
IM Cost of Living Index: 85.4
Median Home Price: $195,000
Livability Score: 75
Beautiful countryside, good access to healthcare, and reasonable costs of living make Kalamazoo a truly affordable place to consider for your golden years.
7. Brownsville, Texas
Insider Money Score: 67
IM Cost of Living Index: 80
Median Home Price: $225,000
Livability Score: 78
Nearby beaches, out-of-this-world Mexican and Tex-Mex cuisine, and affordable costs of living make Brownsville a destination worth retiring to. Local events, festivals, and gatherings keep retirees busy all year round.
6. Harlingen, Texas
Insider Money Score: 67
IM Cost of Living Index: 76
Median Home Price: $253,000
Livability Score: 71
Owing to its warm climate, affordable cost of living, and welcoming community, Harlingen in Texas provides retirees with a relaxed and comfortable lifestyle in a vibrant setting.
5. Huntington, West Virginia
Insider Money Score: 69
IM Cost of Living Index: 83.5
Median Home Price: $126,450
Livability Score: 80
Those in West Virginia looking to retire on a budget can choose Huntington. Boasting a cost of living that is 16.5% lower than the national average, this city has restaurants, museums, music, art, and every other facility that a senior might need for a comfortable retirement.
4. Springfield, Missouri
Insider Money Score: 72
IM Cost of Living Index: 79
Median Home Price: $197,000
Livability Score: 72
Springfield, Missouri, stands out for retirees with its affordable living and a mix of cultural amenities, offering a friendly community and diverse recreational opportunities for a fulfilling retirement experience.
3. Tupelo, Mississippi
Insider Money Score: 74
IM Cost of Living Index: 78
Median Home Price: $210,000
Livability Score: 73
Tupelo, Mississippi, offers retirees a charming Southern atmosphere, affordable living, and a rich cultural scene, providing a tranquil yet vibrant environment for a fulfilling retirement experience.
2. Peoria, Illinois
Insider Money Score: 76
IM Cost of Living Index: 82.8
Median Home Price: $110,000
Livability Score: 74
Another appealing choice for retirees, Peoria is appreciated for its affordable cost of living, diverse recreational activities, and welcoming community, creating a comfortable and enriching environment for those looking to retire.
1. Youngstown, Ohio
Insider Money Score: 82
IM Cost of Living Index: 78.2
Median Home Price: $124,900
Livability Score: 80
This isn’t the first time Youngstown has ranked top in our list of best places. Undeniably, this city offers the best blend of amenities and affordability, offering a fulfilling retirement experience for seniors.
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