Retirement is a big deal. It can be overwhelming to think about. You want to be in a place that you love, maybe near family, and be able to live comfortably. Here are the 10 cheapest places in America to retire.
10 Cheapest Places in America to Retire
GO BankingRates studied 3 different indexes from Numbeo. It’s a data driven website that follows the cost of living.
Just because these places are cheap, doesn’t mean they aren’t lovely to live in.
1. Kanas City, Mo.
This city is right smack in the middle of the country. This can be good if you have family in the Mid-West.
It also has great transportation and it won’t take too much of your money.
- Annual expenditures: $40,984
- Annual amount spent on rent: $7,366
- Annual amount spent on groceries: $3,045
2. Rochester, N.Y.
Even though this state is known for being expensive to live in, Social Security and public pensions aren’t taxed. Income from private pensions and retirement accounts is deductible up to $20,000.
It’s also just a beautiful place to live. It has the 4 seasons and is usually not too hot or cold.
- Annual expenditures: $40,586
- Annual amount spend on rent: $7,421
- Annual amount spent on groceries: $3,067
3. Salt Lake City
This city is 4,300 feet above sea level. It even has ski parks at 7 to 8 thousand feet. This is a great city that family will want to come visit.
- Annual expenditures: $40,529
- Annual amount spent on rent: $7,619
- Annual amount spent on groceries: $3,066
4. Omaha, NE
Omaha has a low cost of living and small grocery costs because it taxed pretty heavily on older people. There is even an inheritance tax.
Still, it’s a wonderful place to live.
- Annual expenditures: $40,008
- Annual amount spent on rent: $7,461
- Annual amount spent on groceries: 3,046
5. Albuquerque, N.M.
This place has an average of 68.8 degrees Fahrenheit and has sunshine 310 days of the year. This is a snow hater’s dream.
The city also has a lot of fun outdoor activities as well.
- Annual expenditures: $39,641
- Annual amount spent on rent: $6,929
- Annual amount spent on groceries: $2,909
6. Mobile, Ala.
If you like rain, you will like this city. It’s the rainest place in the country. It also has Southern hospitality and Mardi Gras celebrations.
- Annual expenditures: $39,566
- Annual amount spent on rent: $6,816
- Annual amount spent on groceries: $3,031
7. Tucson, AZ
This is a great place to settle down if you are looking a simple life. It’s an hour away from Mexico and is surrounded by wilderness.
Social Security is not taxed in this state.
- Annual expenditures: $39,402
- Annual amount spent on rent: $6,755
- Annual amount spent on groceries: $3,052
8. Oklahoma City, OK
This is a city that’s easy on the wallet and easy to stay active. The state exempts Social Security from taxation and offers deductions on other types of retirement income.
- Annual expenditures: $39,248
- Annual amount spent on rent: $7,282
- Annual amount spent on groceries: $3,109
9. San Antonio, TX
There is no state tax on Social Security in this state. The warm weather and low cost of living make this a popular place for retirees.
Plus, there is so much to do here.
- Annual expenditures: $38,210
- Annual amount spent on rent: $7,729
- Annual amount spent on groceries: $2,873
10. Athens, GA
Georgia is a great place for seniors because there is no Social Security, inheritance, or estate tax. Property taxes and sales are low as well.
- Annual expenditures: $36,999
- Annual amount spent on rent: $6,781
- Annual amount spent on groceries: $2,633
Read more here.