Most Affordable Places to Retire

March 30th, 2016

If you’re on a fixed income, you want to retire somewhere affordable and comfortable but that’s also rich in enjoyable experiences for senior citizens. Here are some affordable cities for retirees, which are often overlooked:

Chattanooga, TN

Cost of Living Index: 88/100

Median House Price: $109,700

Median monthly rent: $751

This city of more than 170,000 is quite affordable for retirees. In addition to the cost of living being low, residents can enjoy beautiful views of the Appalachian Mountains and can easily visit attractions such as the Tennessee Aquarium, or maybe even hike the Appalachian Trail. Another thing retirees don’t have to worry about living in Chattanooga, is a sales tax on prescription medication, which Tennessee does not have.

Omaha, NE

Cost of Living Index: 88/100

Median House Price: $130,700

Median Monthly Rent: $830

You may have never considered Omaha as a place for you to retire, but with the low cost of living, central location in the US, and over 210 sunny days per year, it’s a good option. Not only is it affordable, but there are a ton of things for retirees to do, such as visit the Old Market, or the largest indoor rainforest in the US at the Henry Doorly Zoo.

Pittsburgh, PA

Cost of Living Index: 84/100

Median House Price: $76,700

Median Monthly Rent: $743

Most retirees don’t enjoy the idea of retiring in a city because it's generally not very affordable. But Pittsburgh is a different story. It's quite affordable and has a surprisingly good public transportation system, along with excellent arts and cultural amenities. If you are ready to retire but still want an urban lifestyle, Pittsburgh may be a good choice for you.

Tulsa, OK

Cost of Living Index: 85/100

Median House Price: $94,300

Median Monthly Rent: $775

The Tulsa area is the home of a unique new housing option that allows seniors to live independently but also pass on their wisdom to younger children. It’s called The Grace Living Center, and it’s a nursing home with two classrooms, where retirees assist teachers with their pre-K and kindergarten students, benefitting both the young and old.

Decatur, AL

Cost of Living Index: 85/100

Median House Price: $94,300

Median Monthly Rent: $602

With many beautiful old Victorian homes, Decatur is an architectural haven for retirees. Along with the affordability, it has a lot to offer in the way of retirement homes and assisted living care. In 2014, Decatur was ranked number two in the nation for nursing home care among small cities.

Spokane, WA

Cost of Living Index: 91/100

Median House Price: $131,000

Median Monthly Rent: $806

If you are currently living in the Pacific Northwest and are looking for an affordable place in the region to retire, you should consider Spokane. With its rich history and arts and cultural amenities, there is a lot for retirees to do in the second largest city in Washington State. If you are sports enthusiasts you can take in a Gonzaga basketball game, or if you prefer walks around the park, Spokane has 97 different parks with beautiful scenery.