Many retirees dream of living abroad in places like Mexico, Portugal, or Costa Rica for a more budget-friendly lifestyle. However, if you prefer to stay within the U.S., several cities offer similar affordability without the need for an international move.
These cities not only boast low living costs but also provide a high quality of life. Here are five great options for retirees looking to stretch their dollars while enjoying a comfortable lifestyle.
1. Youngstown, Ohio
Youngstown is the most affordable city for retirement in the U.S., according to U.S. News & World Report. It tops the list for its inexpensive housing and overall affordability. The median home price in Youngstown is just $137,546, and rental apartments are available for a median monthly rent of $706.
The city is conveniently located near Pittsburgh and Cleveland, making it a strategic midpoint between major cities like New York City and Chicago. This makes Youngstown a prime choice for retirees seeking both affordability and accessibility.
2. Hickory, North Carolina
Hickory offers retirees a low cost of living, particularly in terms of housing. The median home price here is $219,950, and the cost to rent an apartment is a median of $743 per month. U.S. News highlights that Hickory’s affordable housing allows retirees to enjoy a comfortable lifestyle on a modest income. The city’s pleasant climate and welcoming community further enhance its appeal for those looking to retire in a relaxed and affordable setting.
3. Springfield, Missouri
Springfield presents another excellent option for retirement. Known for its low cost of living and vibrant community, Springfield offers retirees a range of activities and amenities. The cost of everyday expenses is significantly lower compared to other regions of the country.
The city features a lively downtown area and numerous outdoor recreational opportunities, making it an attractive choice for retirees who value both affordability and a bustling local scene.
Read More: Discover 22 Unique Family-Friendly Activities in Orlando You’ve Never Heard Of!
4. Brownsville, Texas
For those considering Texas, Brownsville is a standout option. It is far more affordable than cities like Austin or Houston, with a cost of living that allows retirees to enjoy a comfortable lifestyle. Brownsville benefits from a pleasant climate and rich cultural influences from nearby Mexico. This combination of affordability and cultural richness makes it an appealing destination for retirees seeking both comfort and cultural engagement.
5. Huntington, West Virginia, and Ashland, Kentucky-Ohio
The metro area that includes Huntington, West Virginia, and Ashland, Kentucky, offers low housing costs and a reasonable cost of living. The median home price in this area is $165,496, making it an affordable choice for retirees looking to purchase a home.
This region, situated along the Ohio River, provides a tranquil setting with the benefits of an affordable lifestyle, ideal for those seeking a peaceful retirement in a cost-effective environment.
Read More: Discover 10 Must-Try Experiences for Every Costco Member (#8 Might Surprise You)
Why Choose Affordable U.S. Cities for Retirement?
Choosing an affordable city for retirement within the U.S. can offer several advantages:
- Cost Savings: These cities provide a lower cost of living, allowing retirees to enjoy a comfortable lifestyle without overspending.
- Accessibility: Staying within the U.S. means easier access to family and friends, along with familiar healthcare and services.
- Quality of Life: Many of these cities offer vibrant communities, a range of activities, and pleasant climates, ensuring a fulfilling retirement experience.
Planning Your Retirement
When planning for retirement, consider consulting a financial advisor to ensure your finances are in order and to make informed decisions about your future. Even if you’re not wealthy, a financial advisor can help you navigate your retirement plans effectively.
