7 Cities Where Retirement Costs Are Reasonable
It’s no secret that finding a place to live is getting more and more expensive. If you’re a renter looking for an apartment of any kind, your options are shrinking – especially if you’re on a fixed income or budget. And as you look ahead to retirement, it’s hard to imagine how any senior can afford the cost of monthly rent.
However, if you’re able to be open minded, you can find affordable housing. Seniors simply need to consider relocating to a different city. If you’re willing to move to a new city, you can take advantage of lower rent, lower taxes, and even lower healthcare costs.
The following are seven cities where seniors can live comfortably on a smaller budget and find reasonable costs of living.
1. Columbus, Ohio
Average Monthly Rent: $489 for a one-bedroom apartment.
If you’re looking for a bustling city with affordable rent, you’ll want to consider retiring in Columbus, Ohio. As one of the fastest-growing cities in all of America, Columbus is becoming increasingly popular thanks to its affordable housing prices and its many, many amenities. Right in the heart of Columbus is Ohio State University. That places retirees close to a state-of-the-art hospital and medical research facility, which bodes well for healthcare needs.
2. Greenville, Texas
Average Monthly Rent: $510 for a one-bedroom apartment.
You aren’t alone if you’ve never heard of Greenville, Texas. This relatively small city located about 50 miles outside of Dallas is home to fewer than 30,000 people. But Greenville is close enough to Texas’ most popular and populous cities. You’ll be close to excellent healthcare in the Dallas-Fort Worth metropolitan area, and you’ll enjoy the warm, mild climate year-round.
3. Oklahoma City, Oklahoma
Average Monthly Rent: $530 for a one-bedroom apartment.
Retirees who want a mix of city and suburban lifestyle will love what Oklahoma City, Oklahoma offers. As the second-largest city in the U.S. in terms or area, Oklahoma City offers a lot to explore. Located right on I-35, Oklahoma City is a central destination. Residents can easily drive south or north to visit other big cities, which is ideal for seniors interested in seeing more of America. You’re within reach of big hospitals and universities, which is perfect for older adults.
4. Shreveport, Louisiana
Average Monthly Rent: $547 for a one-bedroom apartment.
More affordable than other big-name cities in the South, Shreveport, Louisiana is an excellent place for retirees. It features a warm, temperate climate and is currently on the rise thanks to reduced crime and a growing economy. Considered the “educational, commercial, and cultural center” at the heart of Arkansas, Louisiana, and Texas, Shreveport also puts seniors close to important institutions like hospitals.
5. Amarillo, Texas
Average Monthly Rent: $597.50 for a one-bedroom apartment.
With warm weather, a moderately sized population, and a slower pace, Amarillo, Texas is a great place to retire. And it’s affordable too. Nicknamed “The Yellow Rose of Texas,” the city of Amarillo is home to cattle ranchers and a lot of wide open spaces. Seniors won’t feel pressured to keep up with big city life, but will still be in a metropolitan area that offers all the services necessary, from healthcare to shopping to parks and recreation.
6. Youngstown, Ohio
Average Monthly Rent: $600 for a one-bedroom apartment.
A quiet yet sizable city in Ohio, Youngstown has a lot to offer retirees. It’s part of an expansive metropolitan area that sits right on the Mahoning River. This unassuming city has started gaining more attention in recent years thanks to increasing culture, entertainment, and innovation. Seniors will enjoy the opportunity to live affordably and have the chance to explore a growing restaurant scene, a new amphitheater, and more. With a low cost of living, affordable property rates, and little crime, Youngstown is a smart choice.
7. Florence, Alabama
Average Monthly Rent: $401 for a one-bedroom apartment.
Alabama is home to one of the most affordable cities in all of the U.S. – Florence. With a population of just 40,000 people, Florence is small and unassuming, quiet and relaxed. And fortunately for retirees, it’s also a surprisingly cheap place to live. It’s perfect for anyone who loves small towns, with a historic downtown center. Florence sits atop picturesque bluffs above the Tennessee River, which offer many natural sights to check out.
Prepare for Retirement and Consider Your Options Today
Whether you’re close to retirement or still years away, it’s never too early – or too late – to start thinking about your golden years. Where will you live? How will you afford your lifestyle? One way to cut costs and live comfortably is to relocate somewhere more affordable.
And the cities mentioned here are just some of the cheap places you can relocate to. There are plenty more available across America. You just have to do your research and search for cities with low costs of living. With that preparation and research, you can plan ahead and make your retirement even easier.
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