Top 8 Places to Retire on a Low Income

There’re many factors involved in deciding the location of your retirement home. For some people, retirement is a chance to enjoy the rest of their lives in their hometowns since this is where they feel most comfortable. Others might like to explore new areas while some factor in weather as the number one criteria in choosing where to retire.

It doesn’t matter where you end up living; the only thing that matters is that your new home can accommodate your needs as you age. For this, we’re exploring some of the best places where you can retire on a low income.

Types of Living Situations to Consider

As you retire, there are various options ahead of you, and many options to choose from. You can either stay in your family home as long as you wish or find alternative housing, depending upon your income and your health requirements.

For those who want a bit more support, senior living communities are a great option. If your health needs require greater care, you should consider a retirement home or assisted living facility.

Athens, GA

Athens, Georgia is one of the top retirement destinations in the US. Its high rank is owed partly to its moderate climate and partly because of its tax-friendly policies. Here, the state exempts Social Security income from taxation, and elderly people are eligible for various property tax deductions that can help them save a lot of money.

The area is quite walkable and has made an effort to keep historic and classic buildings well maintained. In addition, there are lots of golf courses, theatres, and cultural events around the area.

Rent for a three bedroom apartment ranges from $1,175 to $1,350, which is quite economical. Besides, the average night out for two adults does not cost more than $50.

Boise, ID

Another popular choice is Boise, Idaho. This city provides a range of retirement options owing to its size and close by outdoor activities. It also offers affordable housing, with a median home price of around $225,000.

Boise is only a few miles away from the gorgeous Rocky Mountains and there is abundant green space spread through the area. Plenty of programming for seniors is run by the Parks and Recreation department, including computer classes and tax assistance.

Another plus is that Social Security is not taxed so people on a low income will see their dollars go further.

Charlotte, NC

Currently, North Carolina is one of the leading cities in the US for retirees.

The city amenities draw budget-conscious seniors, and they can enjoy these benefits without having to pay big-city housing prices.

In addition, there are more than 20 adult living communities around the city, giving you extra care if you need it.

Here, healthcare costs are five percent less than the usual national standard. Also, there are a lot of highly ranked hospitals where you can go for treatment in case you face any serious health problems.

Furthermore, Charlotte is ranked 39th out of 377 cities for cost of living.

Clearwater, FL

Over the years, Clearwater has claimed to hold the dual titles of the best beach town in Florida while being one of the best retirement cities in the US. So, if you like beaches, Clearwater is an excellent choice.

In addition to lots of gorgeous beaches, Clearwater has a bustling downtown district. The annual Jazz Festival and year-round program at the Performing Arts Center provides numerous music and cultural events for seniors to enjoy.

Even if these incentives are not as enticing for you to settle in Clearwater, another one is the low cost of living here. For example, a sizeable city-center apartment’s average monthly rent is $1,690.

Fargo, ND

Fargo, North Dakota, is the largest town in one of America’s least populated states.

The town attracts many retirees because of the relative calm and the low cost of living here. In fact, the average home costs not more than $206,000, and annual property taxes range from $2,000 to $4,000.

The center of town is easily accessed by car or bike. Besides, you can find restaurants, theaters, and even the celebrated Plains Art Museum downtown. Also, there are medical clinics and a VA hospital.

The Amtrak station or Hector International Airport is also there if you want to fly to any place.

Green Valley, AZ

But if you want a fast life and active lifestyle among your fellow retirees, Green Valley, Arizona, is the best option. It offers you the chance to move into one of the largest retirement communities in the US.

Strictly speaking, Green Valley is neither a town nor a city. In fact, it’s an unincorporated location made up of 59 separate Homeowners Associations.

Here, all the residents are retirees who are leading an active life together.

The climate is moderate throughout the year, enabling each facility to provides its own amenities, like golf courses, pools, and exercise studios.

Besides, it’s a few miles away from Tuscan or the University of Arizona campus, where there are more shops and restaurants.

In addition, house prices are economical, with prices range from $100,000 to $200,000.

Cancun, Mexico

If you want to save money by retiring outside of the US, Cancun, Mexico, is a nearer option from the mainland US. It provides you a great combination of value and relaxed beach living.

Cancun has many options for inexpensive homes that when are converted to dollars don’t cost more than $2,000 a month. Plus, health care is fantastic in Mexico.

Whenever you need to see family, you can conveniently get home or host them at your bungalow.

Panama City, Panama

You might not know that Panama City has a significant expat population. A huge number of American retirees are attracted to this place because of the low taxes and low cost of living. For instance, one person’s monthly expense is less than $3,000, and that includes rent on a fantastic oceanfront condo.

All retirees here have access to the Pensionado program, which provides an incredible discount on almost everything, including healthcare to international flights. Also, don’t worry about your lack of Spanish as many people in Panama speak English


There are lots of fantastic locations around the US and abroad that offer economical alternatives that include enough health care, entertainment and necessary facilities to keep you comfortable in your retirement. It’s advisable to explore your options and choose a place that fulfills all your needs.

Senior couple walking on a path together in the countryside