Three of the Most Affordable US Cities to Retire In

March 16, 2018
1686 Views

Retirement offers some much-needed rest and relaxation, and an opportunity to enjoy the smart decisions you’ve made in investments and a retirement fund. For many, retirement is life’s greatest payoff. With the right amount of planning, you can enjoy retirement with a reasonable amount of financial freedom. One of the best ways to ensure that you can maximize your savings, retirement fund, and any investments, is to relocate to a city where the lifestyle and living costs are friendlier for retirees. We’ve put together a quick overview of the three most affordable US cities that are suitable for retirement; with the necessary amenities including good healthcare systems, entertainment, and leisure spots.

Lincoln, Nebraska

The capital of Nebraska, Lincoln, has a small population with only moderate yearly growth. For retirees who want a quieter city with a small town feel, Lincoln is ideal. The city offers plenty of parks, some excellent historical attractions, and a real community feel that you won’t find in a number of larger state capitals.

General cost of living prices (including rental prices) are on average 37% lower than a large city like Los Angeles, and 8% lower than the national average. Moving to Lincoln could help to stretch a retirement fund, and can be a great alternative to the beachside retirement towns of South Florida. The median home price of $156,000 also helps to make retirement living more affordable.

Boise, Idaho

Like Lincoln, Boise is an inland city that focuses on nature and scenic surroundings. It’s also one of the quieter cities in the United States, with a moderate population and low crime rates when compared to the major centers. Cost of living is slightly above the national average (by 3%), but the $206,000 median home price range could make it ideal for retirees who want to move to a relaxed city that still has high-quality entertainment, arts, and healthcare services.

Port Charlotte, Florida

We can’t talk about retirement cities without mentioning Florida. The balmy weather, gorgeous beaches, and readily available entertainment and leisure make it America’s favorite retirement destination. Florida isn’t for everyone, but if you like the beach lifestyle and a real holiday atmosphere, then you could find an area like Port Charlotte to be perfect. Cost of living in this coastal city is 6% below that of the national average. Being on the Gulf side of the Florida Peninsula, Port Charlotte is relatively well sheltered and offers a competitive housing market with a home price median of $150,000.

Maximize Your Retirement Savings

It’s not a rule that you should retire in your current home. Selling up and moving to a more affordable location can allow for an improvement in living standards, and you can choose a home that is better suited to a quieter retirement lifestyle. Your investments have given you the opportunity to relax in your golden years, and cities like the three mentioned here will ensure that your money goes as far as possible.

 

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