22 Cities Where You Can Retire on $1,500 a Month
See if any of these places are ideal for you!
The median rent is $620, grocery costs are more than 5 percent below the national average, and healthcare costs are 3 percent lower: Add it up, and Lubbock retirees can really stretch their retirement dollars. On the fun side, Lubbock still has a drive-in theater, and the Moonlight Musicals organization offers a series of theater productions; plus, there are a number of festivals that will help keep retirees entertained. On the First Friday of every month, the Lubbock Cultural District hosts the First Friday Art Trail, featuring music, local artists work, vendors, and more.
Despite the fact that healthcare and grocery costs are 9 percent above the national average, your monthly expenses still will likely total less than $1,500 a month. In Lorain County, you can visit wineries, museums, and galleries, or plan activities like golf, fishing, bird watching, or hiking on the numerous walking paths. Lorain is also less than an hour away from Cleveland and all its amenities. Make your retirement go further with these 19 tricks frugal grocery shoppers use to save big.
Cedar Rapids, Iowa
All you need is $1,440 for monthly expenses in Cedar Rapids. Plus, green space is plentiful: There are 74 parks and four golf courses. Don't like golf? Check out the six swimming pools. Seniors have time to enjoy the city's many sites like Czech Village District, the African American Museum of America, Slovak Museum & Library, shops, and more. Want to save $5,500 this year? Just cut out these three items.
First off, Wyoming is a state with no income tax. Casper's median rent of $600 a month is another plus. The one shortcoming is that groceries are a tad higher than the national average. The living is good in this mountain town, though: Seniors who love hiking, fly fishing, hunting, and boating will be right at home. If you're looking for culture, check out the gallery and museum events. All year round you can find things to do, such as the Casper Balloon Roundup of hot air balloons or NicFest, the arts festival. These are the best and worst states for taxes.
The eating is cheap in Davenport. The average grocery bill of $306 a month is almost 4 percent under the national average. Overall, the cost of living is below the national average. You'll have money in your pocket, and you won't be bored: Music runs deep in this part of the country, with festivals and celebrations highlighting jazz, reggae, country, rock, and more. There are several parks and four golf courses. The downtown riverfront is undergoing a revival, and seniors can enjoy the Freight House Farmer's Market and Figge Museum.
Seniors can live on just over $1,400 here, with the reasonable rents and grocery costs balancing out the slightly above average cost of healthcare. There's plenty in Lawton to keep you busy, be it hiking, the symphony, trout fishing, festivals, rodeos, ballet, or community theater. This city in Southwest Oklahoma is a small town with some big city amenities.
This town stands out as one of the best places you could live on just a Social Security check. What's especially cheap? Groceries. The average monthly bill is $292, roughly 8 percent below the national average. Lynchburg is known for its riverfront concerts, the Lynchburg Museum, Community Market, Riverviews Artspace, and the Academy Center of the Arts downtown. History buffs have the Civil War Trail and Thomas Jefferson's Poplar Forest to explore; there are also parks, trails, and bikeways.
Grand Forks, North Dakota
Retirees can get by in Grand Forks on $1,430 or less. Golfers will think they've struck gold thanks to the numerous courses in the area. Live music is easy to find, as are places to enjoy art and culture in a variety of venues. Long walks along the Greenway Trail System are ideal. With two rivers, there's good fishing and water fun. Take a look at 15 more of the cheapest towns you might want to retire in.
They say good things happen in threes. In the case of Bloomington, the grocery bill and healthcare costs are 3 percent below the national average; the third thing worth cheering about is the fact that the median rent on a one-bedroom apartment is $575. The locals say you can have a good time in Bloomington whether you fancy Shakespeare, jazz, symphony, golf, or just plenty of local, independent restaurants at which to dine.
Rent may not be as cheap as other towns on the list, but Shreveport shines when it comes to healthcare. The costs are 7 percent below the national average. The city is ideal for budget conscious seniors: There's plenty of free stuff, from the Spring Street Museum, Meadows Museum of Art, Boom or Bust Byway Tour, Southwestern University Museum of Art, and more. Watch out for these 15 financial mistakes that could ruin your retirement.
El Paso, Texas
Texans always like being the best, and residents in El Paso can boast the lowest healthcare costs of any town on the list—11 percent below average. El Paso also has plenty of ways to spend your retirement days, such as the El Paso Museum of Art, smaller art galleries, plenty of parks, vineyards, and a spectacular zoo that will be a draw for the grandkids.
Minot, North Dakota
The median monthly rent is $500, but you'll have to budget for healthcare that runs 7 percent higher than the national average. But Minot can entice with offerings like the Railroad Museum of Minot, Scandinavian Heritage Park, Roosevelt Zoo, 62 Doors Gallery and Studios, and the North Dakota State Fair.
How does putting out less than $300 a month on groceries sound? Abilene is among the lowest average costs in the survey. Golfers will love Abilene's several courses; the zoo is also part of the fun. The city also has unique museums like the 12th Armored Division Museum. Beer lovers can make their way downtown to Pappy Slokum Brewing Co. brewpub; wine enthusiasts can get their fill at The Winery at Willow Creek.
You'll only need $1,400 to cover your costs in Erie. Spend your days at Presque Isle State Park, or if like to take your chances, there's Presque Isle Downs & Casino, a racetrack. Sports fans will love the professional hockey and soccer teams, as well the Double-A Detroit Tigers affiliate team. Take a look at some of the cheapest towns to live in all around the world.
Taking the crown for cheapest grocery costs, Tulsa will only take $286 out of your budget to keep the pantry stocked. Spend your savings at the 14 public golf courses or save it by exploring the 50 miles of scenic trails along Tulsa River Parks. The town also boasts a dozen festivals featuring themes like pop culture, comedy, wine, and jazz.
Healthcare expenses can be a wild card in retirement. At least in Akron, you can expect to pay just over $500 a month, 8 percent less than the national average. What else is happening there? Akron is home to the Akron Art Museum, a zoo, Hale Farm & Village and historical homes/museums. When you're ready for a night out, there's no shortage of restaurants, be it an upscale steakhouse, sushi, Thai, or a smorgasbord.
Not only is it cheap to feed yourself—$301 a month for groceries—but there's a lot to do. Springfield is home to national, state and county parks, where you can hike, walk, bike trails. Or get your exercise on local golf courses or at the numerous museums such as the Springfield Art Museum. Railroad Historical Museum, Lew's Ozark Fishing Museum. There's the First Friday Art Walk, Battle of Springfield Tour, C-Street Historic District and the Archery Hall of Fame. Make sure you aren't committing one of these 7 deadly sins of retirement planning.
Imagine paying only $498 a month for rent, and a mere $298 for groceries. Waterloo is affordable while offering attractions like the 40-acre Cedar Valley Arboretum & Botanic Gardens, the College Square and the Crossroads Theatre, and the Cedar Valley's 106 miles of hard-surfaced trails that take you along lakes, streams, and forests.
Fort Wayne, Indiana
Groceries are cheap in Fort Wayne—you'll spend about $290 a month. Art lovers have over three dozen galleries and boutiques to browse in town, and the Main Street Art Campus is full of dance, fine art, music, theatre, and a central point for festivals. Take a walking tour of the city's historic neighborhoods or get your nature fix at the Foellinger-Freimann Botanical Conservatory.
It's pretty darn cheap to live in Amarillo in retirement. You can expect to shell out just over $1,300. Amarillo is some 30 minutes from Palo Duro Canyon where you can horseback ride, hike, camp, bike, and more. Find the cultural side of Amarillo at the Performing Arts, Amarillo Civic Center, the Amarillo Symphony Orchestra, or the Lone Star Ballet. Whichever town you think you'd like to retire to, make sure you've read a list of what these 9 retirees wish they had done beforehand.
The median rent is less than $500 a month in Evansville, and groceries are nearly 9 percent below than the national average, while healthcare is 6 percent lower. This city on the banks of the Ohio River will also tempt you with golf courses, museums, and the Hartman Arboretum.
Home to Ball State University, Muncie offers the advantages of a college town while keeping rents down to a median $500, grocery costs 6.4 percent below the national average, and healthcare 10 percent lower. The college keeps the performing arts and culture scene vibrant. If you like green spaces, Muncie has several parks. Then there's the Cantilevered Walkway—it overlooks the White River and you can walk or bike while taking in the impressive views. Take a look at the best places to retire around the world.