8. Michigan
Median home price: $124,900
Health care costs: 4% below the national average
Tax friendly
With the median home price of $124,900, health care costs 4% below US average, and sales taxes below average as well, Michigan ranks as eight on our list of 16 Cheapest states to live in the US for seniors. The state does not tax social security income while seniors older than 68 can apply for deduction of $49,027 on other types of income (those who are old between 63 and 68 can count on deduction of $20,000). Although property taxes are high in Michigan that should not worry you since real estate prices are pretty low. Michigan is a perfect choice for seniors who want to spend their retirement days surrounded by water. The state has the most freshwater coastline in America, and thousands of lakes and streams. It is also known as a state with the highest number of golf courses in the US.
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