GOBankingRates conducted an analysis and rated the 100 largest cities in the United States. They assessed the annual retirement income needed to cover essential expenses, including housing, healthcare, food, transportation, and utilities. Additionally, these cities were evaluated for their overall quality of life.
Take a look at the most inexpensive cities in America to retire.
10. Greensboro, North Carolina
- Total yearly spending: $43,120.61
- Population percentage 65 and older: 16.00%
- Score for livability: 66
The cost of living in Greensboro is 17.3% lower than the national average. At $12,531.01 per year, or 33.6% less than the national average, housing is particularly inexpensive here.
9. Tulsa, Oklahoma
- Total yearly spending: $42,964.18
- Population percentage 65 and older: 15.39%
- Score for livability: 62
Retirees can find affordable housing in Tulsa. The average annual housing cost in Tulsa is $9,737.95, while the typical home value is $196,017.42.
8. El Paso, Texas
- Total yearly spending: $42,755.62
- Population percentage 65 and older: 14.08%
- Score for livability: 74
This border city between the United States and Mexico is a great place to retire on a budget because it is one of the most affordable areas in the country. In El Paso, the cost of food, healthcare and utilities is very low.
7. Wichita, Kansas
- Total yearly spending: $42,547.06
- Population percentage 65 and older: 15.82%
- Score for livability: 60
Housing costs in Wichita are 44.9% lower than the national average. Wichita is among the best places to retire because housing is affordable and food and transportation expenses are comparatively inexpensive.
6. Winston-Salem, North Carolina
- Total yearly spending: $42,390.63
- Population percentage 65 years older: 15.67%
- Score for livability: 64
With the cost of living in Winston-Salem 18.7% below the national average, the city is one of the best places to retire on a tight budget. At $11,795.00 per year, which is 37.5% less than the national average, housing costs in the area are also incredibly affordable.
5. Lubbock, Texas
- Total yearly spending: $42,077.79
- Population percentage 65 years or older: 12.58%
- Score for livability: 68
The cost of living in this Northwest Texas city is more than 20 percent below the national average. At $10,870.27 per year, Lubbock is among the most affordable places to retire. Housing costs are 42.4 percent lower than the national average.
4. Fort Wayne, Indiana
- Total yearly spending: $42,025.65
- Population percentage 65 years or older: 14.82%
- Score for livability: 75
Fort Wayne is one of the best places to retire because the cost of living here is affordable. The cost of living in this northeast Indiana city is about 19.4% below the national average. Local utility costs are also 18.5% below the national average.
3. Memphis, Tennessee
- Total yearly spending: $40,409.28
- Population percentage 65 years or older: 14.14%
- Score for livability: 58
Known as the birthplace of rock ‘n’ roll and home of the blues, this vibrant city in southwest Tennessee offers a wealth of attractions at a reasonable cost of living.
2. Cleveland, Ohio
- Total yearly spending: $37,697.94
- Population percentage 65 years or older: 14.98%
- Score for livability: 59
Cleveland has comparatively low total annual expenditures and cost of living. Here, annual healthcare expenditures are $5,820.84 and food costs are $4,204.70, both less than the national average.
1. Toledo, Ohio
- Total yearly spending: $37,645.80
- Population percentage 65 years or older: 16.22%
- Score for livability: 62
The overall cost of living in Toledo is 27.8% below the national average, making it the best place to retire. The low annual cost makes it worthwhile, even if the quality of life is not the best on the list.
The post 10 Most Affordable Cities To Retire In The U.S. Under $3500/Month appeared first on Traveling Lifestyle.
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By: Maria Valencia
Title: 10 Most Affordable Cities To Retire In The U.S. Under $3500/Month
Sourced From: www.travelinglifestyle.net/10-most-affordable-cities-to-retire-in-the-u-s-under-3500-month/
Published Date: Tue, 17 Oct 2023 16:22:56 +0000
