If you’re looking to stretch your retirement income as much as possible, relocating to a more affordable location may be a good option. Not only can you potentially save on housing costs, but everything from groceries to utilities may be cheaper as well. Still, taking the leap involves a major complicating factor: choosing where to move. You need a town that’s affordable, but also has rich offerings for retirees like arts and culture, outdoor activities, and continuing education opportunities.
Here are our favorite cheapest places to retire in the United States. The selection process for this list was a mix of art and science. We began by looking at hard numbers — searching for locations with a below average costs of living, low tax rates, and relatively affordable housing prices.
We then narrowed the locations down by incorporating subjective factors — such as weather and activities. Finally, we tried to include geographic diversity, selecting our favorite U.S. towns in the Northeast, Southeast, Midwest, Southwest, and West.