The Most Affordable Places To Retire in 2025: Thriving on a Budget in Your Golden Years

When it comes to retirement planning, few things matter more than the cost of living. After all, this time in your life should be about freedom, not financial stress. Whether you’re looking to kick up your heels or kick back and watch the sunset, look no further than our roundup of some of the most affordable places to retire — where you can stretch your savings without sacrificing comfort. From hidden gems to well-known destinations, these are some of the cheapest places to retire and enjoy your golden years to the fullest.

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You may already be familiar with some cities across the U.S. that are on the more affordable side, but you might also be surprised to learn about some of the larger and more popular cities that made this list. From vibrant coastal towns to smaller towns with a plethora of outdoor recreation, healthcare access, and senior living in 55+ communities, without further ado, here are some of our favorite — and affordable — places to retire around the country.

Most Affordable Places To Retire

Playing poker and a round of roulette are great fun, but Biloxi also has one of Mississippi’s most beautiful beaches.

1. Biloxi, MS

• Average rent (one-bedroom): $1,245
• Average home value: $229,300
• Cost of living: 82.6
• Great for: Beach access, historic sites, museum day trips, gambling

Biloxi is known as a gambling town — and for good reason: It’s home to the Hard Rock Hotel and Casino and the Beau Rivage Resort & Casino. And while playing some poker and a round of roulette is great fun, the city’s not all about casinos. It’s also one of the most affordable places to retire, and has one of Florida’s prettiest beaches, with 26 miles of sugar-white sand stretching along the Gulf of Mexico. (Seashell collecting, anyone?) Other attractions include an outpost of Jimmy Buffett's Margaritaville, where you’ll find tasty cocktails and coastal dishes. Art and history lovers will enjoy the Frank Gehry-designed Ohr-O'Keefe Museum of Art, which celebrates the work of Biloxi potter George C. Ohr and the cultural heritage of the Mississippi Gulf Coast.

Veterans have lots of support in Biloxi, with access to the VA Medical Center and Harris County Veterans Services. Other residents can look to the Memorial Health System and Merit Health. 

Retirees on a budget considering a move to Mississippi will be pleased to know that all forms of retirement income are exempt from taxation. This includes social security benefits, IRA income, and 401(k) income, along with any pension. Couple that good news with an overall low cost of living in Mississippi — and it’s clear Biloxi is one of the cheapest places to retire.

Q: Where is the cheapest place to live when you retire? A: Of the cities on this list, Biloxi, MS, is the cheapest place to retire. Living in a beach town isn’t a bad deal either! If you’d rather spend your days in the cool mountain air, though, Hickory, NC, is another solid option among the most affordable places to retire. Both offer a great bang for your buck, considering everything you have to gain once you move.

2. Traverse City, MI

• Average rent (one-bedroom): $1,400
• Average home value: $435,500
• Cost of living: 95.8
• Great for: Outdoor activities, artsy nights on the town, easy healthcare access

Tucked along the shores of Lake Michigan’s Grand Traverse Bay, Traverse City is a picturesque location that offers retirees the best of two worlds: Natural beauty and a surprisingly affordable cost of living. Known for a vibrant cultural scene, excellent healthcare, and lots of recreational options, this northern Michigan town is drawing more retirees every year. You have to be OK with snow, however, since 125 to 145 inches fall annually here. Thankfully, Lake Michigan moderates the temperatures, so some of the icier weather of the Upper Peninsula stays away. 

Access to quality healthcare is a standout advantage of Traverse City, primarily through Munson Medical Center, a highly rated regional hospital. And despite its resort-town vibe, the town remains affordable compared to many other popular retirement destinations — especially those that can easily double as a vacation spot. As far as taxes are concerned, there is no tax on social security benefits for retirees in the state of Michigan. You’ll also find deductions available on other types of retirement income, including pensions. 

Cultural richness and an active lifestyle are the hallmarks of Traverse City. From cherry orchards to downtown’s many galleries and antique shops, there’s never a shortage of something to do. More than 30 parks, hiking and biking trails, and endless opportunities for fun in Lake Michigan make this a smart place to retire.

Q: Where in the world can I retire on $2,000 a month? A: With careful planning and budgeting, living on $2,000 a month is possible — if you find one of the cheapest places to retire. Retirees need to choose a location with a low cost of living, affordable housing, and easy access to needed amenities. Among the cities that fit the bill among the most affordable places to retire: Pittsburg, KS, 31 percent less expensive than the national average; Des Moines, IA, 13 percent less expensive; and Biloxi, MS, 17 percent less expensive.  Q: Where can I retire on $1,300 a month? A: This is a bit more difficult. But if you can make your income stretch, Dayton, OH, 20 percent lower than the national average cost of living, and Brownsville, TX, 25 percent lower, are good options for retirees. If you’re open to going overseas, you have a world of options: Portugal, Panama, and the Philippines are possibilities on the list of best places to retire on a budget. Q: Where can I retire on $500 a month? A: Super-frugal is the way to live if this is your budget — but it’s doable! Sunny Beach, Bulgaria, is a hotspot for retirees. Kathmandu, Nepal, is another adventurous destination that doesn’t have to cost a whole lot. And in South America, Cusco, Peru, at the foot of the Andes Mountains, is a stunning city and a lovely place to spend your Golden Years — definitely one of the cheapest places to retire.

3. Greenville, SC

• Average rent (one-bedroom): $1,575
• Average home value: $325,700
• Cost of living: 91.3
• Great for: Families, nightlife, diversity

The downtown district is Greenville’s crown jewel — and it’s only become shinier in the past few years, thanks to revitalization. Walkable streets are lined with local shops, cafes, and art galleries, and the beautiful Falls Park on the Reedy River is steps away. In fact, HGTV just named Greenville one of the most charming small-town downtowns in America. As for dining, locals love Soby’s New South Cuisine, known for traditional dishes with a modern twist, and Jianna, an Italian eatery and oyster bar overlooking Reedy River Falls. 

A thriving cultural scene is a big draw for retirees looking for arts immersion. Performances at the Peace Center for the Performing Arts include touring Broadway hits, dance productions, and concerts (this summer: Wynonna Judd, Band of Horses, and Elvis Costello are among the performers taking the stage). 

Outdoor enthusiasts will love the Swamp Rabbit Trail, a 28-mile (and growing) greenway for biking and walking (text SWAMPRABBIT to 844-792-1212 for conditions — cleanup from Hurricane Helene is still underway in some spots). Nearby Paris Mountain State Park is a great spot for hiking, fishing, and paddleboarding, and the iconic Liberty Bridge at Falls Park on the Reedy is ideal for a peaceful picnic. 

And perhaps the best news for retirees on a budget in South Carolina? Social security retirement benefits aren’t taxed. Seniors receiving any other type of retirement income are eligible for a $15,000 taxable income deduction, as well, and the property taxes are also very low overall.

Residents of Richmond have access to a perfect mix of culture, history, and affordability.

4. Richmond, VA

• Average rent (one-bedroom): $1,575
• Average home value: $368,400
• Cost of living: 95.2
• Great for: Outdoor activities, historic sites, retirement communities, easy healthcare access

After decades as one of America’s tobacco hubs, Virginia's capital city of Richmond now focuses on healthier pursuits — with the perfect mix of culture, history, and affordability. A thriving food scene includes a wide variety of restaurants, including L’Opossum, which offers modern Southern cuisine not related to its somewhat alarming name, and Stella’s Grocery, a local Greek favorite for wood-fired pizza and gourmet goods in the adjacent market. 

Outdoor recreation is everywhere in and around Richmond. Just 20 miles away, Pocahontas State Park offers mountain-biking trails, lakes, and wildlife galore. For more pristine pursuits,  check out Maymont, a historic museum and park exploring Richmond’s gilded past. Visitors can enjoy tours through the restored Maymont mansion, the property’s gorgeous gardens, and the Robins Nature Center, which includes a 29,000-square-foot aquarium, interactive play attractions, digital pools, and other ecology-focused educational exhibits. 

Nearby is one of the most popular 55+ affordable retirement communities in the area: Chesterfield, one of the nationwide Traditions of America developments, features a resort-style 8,000-square-foot clubhouse and a full slate of social activities. 

When it comes to healthcare, residents of Richmond have access to the Virginia Commonwealth University Health System, a world-class facility with a wide range of services. The city is also home to the Medical College of Virginia, an academic healthcare center in the heart of downtown Richmond. And as far as taxes, there is no tax on social security benefits for retirees in Virginia. Seniors in search of the best places to retire on a budget can also get a deduction of up to $12,000 for other retirement incomes like pension income and retirement account withdrawals.  

5. Omaha, NE

• Average rent (one-bedroom): $1,275
• Average home value: $291,300
• Cost of living: 90.2
• Great for: Outdoor activities, days on the lake, retirement communities

Nebraska might not be the first place that comes to mind for retirement, but this Midwestern jewel draws more retirees every year looking for its mix of culture and comfort — and reputation as one of the best places to retire on a budget. With a cost of living about 9 percent lower than the national average, Omaha is rich in recreation. The city offers more than 250 parks and 120 miles of trails for walking, biking, and birding at places like Lauritzen Gardens, where over 20 themed gardens delight nature lovers — just south of Omaha’s historic Market District. For those more interested in fauna, the Henry Doorly Zoo and Aquarium is known as the best in the U.S., according to USA TODAY, with 160 acres of habitats and interactive exhibits. 

The dining scene in Omaha is surprisingly lively, with a mix of Midwestern comfort food and modern culinary trends. Local favorites like The Drover Steakhouse offer the locally legendary whiskey steaks, and newer spots like Au Courant Restaurant showcase the city’s growing focus on farm-to-table innovation. 

The city is home to medical institutions, including CHI Health, a regional network, and Nebraska Medicine, both of which offer specialized services to aging populations in addition to preventative and routine care.

Q: What is the cheapest and safest place to retire? A: With no tax on retirement income, and about half the crimes per square mile compared with the national average, Mississippi is a safe and inexpensive state — one of the most affordable places to retire. But in general, “cheap” and “safe” don’t necessarily go together. As for a specific city, Pittsfield, MA, is safer than 21 percent of U.S. cities, according to NeighborhoodScout data, but its cost of living is only about 4 percent less than average. Florida is a good bet for low-cost living — but when you’re considering the cheapest places to retire, do your due diligence on crime stats before you make a move anywhere.

6. Pittsfield, MA

• Average rent (one-bedroom): $1,325
• Average home value: $300,800
• Cost of living: 95.9
• Great for: Outdoor activities, colonial architecture, easy healthcare access

Just north of the more posh Berkshire havens of Lenox, Great Barrington, and Stockbridge, the more down-to-earth city of Pittsfield offers easy access to the same picturesque New England vistas — but at a more affordable cost. Retirees who enjoy long, snowy winters and beautiful autumn scenery will find this an ideal destination — not to mention one of the best small towns to retire on a budget. Residents can hike in Pittsfield State Forest, kayak on Onota Lake, and ski and snowshoe at places like Bousquet Mountain and, about a half-hour northwest, Jiminy Peak. 

The cost of living in Pittsfield is below average, and the area offers reasonably priced homes and condos in retirement communities. Massachusetts exempts social security income from state taxes, and many seniors may qualify for property tax exemptions or deferrals, which can help make retirement more affordable. Skilled nursing, independent, and memory care living are available at Berkshire Place, and the Berkshire Medical Center provides comprehensive care. 

As for dining, Pittsfield features cozy cafes, classic diners, and farm-to-table destinations like District Kitchen & Bar (try the duck confit poutine). For an excellent cup of joe and delish housemade pastries, stop by Dottie’s Coffee Lounge, an artsy cafe that also hosts open mic nights and a rotating gallery of local creatives.

Savannah’s beautiful downtown has 23 squares that showcase lush gardens while honoring various historical figures.

7. Savannah, GA

• Average rent (one-bedroom): $1,700
• Average home value: $335,900
• Cost of living: 90.2
• Great for: Historic sites, outdoor activities, ghost tours, beach access

The coastal gem of Savannah, Georgia, is known for its rich cultural heritage, historic architecture, and distinctive Southern charm and hospitality. The city ranks in the top 100 on Niche’s “Best Cities to Retire in America,” and is often listed alongside Myrtle Beach, SC, as one of the most affordable places to retire on the East Coast. 
The city's coastal appeal goes beyond affordability, of course. Savannah’s downtown is a National Historic Landmark District, notable for its variety of architectural styles and residential and commercial mix. It’s also gorgeous. Spanish moss drips from century-old oaks throughout Savannah’s 23 squares, famous destinations showcasing lush Southern gardens while honoring various historical figures. Taylor Square, for instance, is named for Susie King Taylor, the first Black teacher to educate African-Americans in Georgia. She also served as a nurse during the Civil War, and later founded a school for Black children in Savannah.

Food lovers will find no shortage of award-winning options like The Grey, a James Beard honoree housed in a restored 1930s Greyhound bus terminal. Traditionalists will adore Mrs. Wilkes’ Dining Room, where guests share communal tables and enjoy home-style Southern cooking. Get there early to beat the crowd and bring cash or a check — no credit cards accepted.

As for retirement communities, one of the best is The Marshes of Skidaway Island, nestled on a barrier island just a quick drive from downtown. Residents choose from a variety of different living options — independent to assisted living and skilled nursing — in a scenic, amenity-filled environment. There are two major medical systems in Savannah: Memorial Health and St. Joseph's/Candler. For specialized care, the Nancy N. and J.C. Lewis Cancer and Research Pavilion is the Savannah staple. 

Georgia is also considered tax-friendly for retirees, as there is no tax on social security retirement benefits and an impressive deduction of up to $65,000 for anyone 65 or older. So while Savannah doesn’t top the list of the cheapest places to retire, it definitely has some benefits. 

Did you know? Did you know? North Carolina exempts all social security retirement benefits from income taxes. However, when you’re looking for the cheapest places to retire, keep in mind that other forms of retirement income, like pension income and withdrawals from retirement accounts, are fully taxed in North Carolina at a rate of 4.99 percent.

8. Hickory, NC

• Average rent (one-bedroom): $1,050
• Average home value: $288,900
• Cost of living: 89
• Great for: Outdoor activities, museum day trips, easy healthcare access

Just an hour’s drive from Charlotte, the charming town of Hickory is a hub for craftsmanship situated in the scenic heart of Catawba County — it’s also one of the area’s most affordable places to retire. Known as one of America’s furniture capitals, the town also has a growing reputation for its lively downtown filled with locally owned bars and restaurants, many with live music several nights a week. Try Rule Italian Prime and Pasta — the wood-fired pizza is perfection — and Cranford Brother’s BBQ for Southern classics. The growing arts scene includes quite a few destinations, as well, for such a modest-sized town. Among them: The Hickory Museum of Art, the Hickory Aviation Museum, and the Western Piedmont Symphony. 

Like other quaint Blue Ridge Mountain communities in North Carolina, the town of Hickory offers skiing, hiking, and bird watching in almost every direction. A standout is Bakers Mountain Park, atop the highest elevation in the county at 1,780 feet. The park’s six miles of trails cover about 190 acres of forest and foliage. 
For retirees looking to settle down and enjoy mountain living, the Coves Mountain River Club is a favorite. You’ll find stunning homes, breathtaking views, and a warm, neighborly vibe just minutes from downtown Hickory. Two nearby healthcare facilities serve the area: Frye Regional Medical Center and Catawba Valley Medical Center.

Boating, kayaking, and world-class fishing are everyday activities in Punta Gorda — a paradise for outdoor lovers.

9. Punta Gorda, FL

• Average rent (one-bedroom): $1,275
• Average home value: $367,600
• Cost of living: 93.7
• Great for: Outdoor activities, Disney day trips, great dining scene, easy healthcare access

Florida’s cost of living might be on the rise, but Punta Gorda has managed to remain one of the most affordable places to retire in the state. And it’s the perfect spot for sun-and-sea lovers: Set along the shores of Charlotte Harbor, the second-largest estuary in the Sunshine State, the city has a laid-back coastal vibe that appeals to more retirees every year. 
In its walkable downtown, Punta Gorda’s boutiques, waterfront restaurants, and art galleries buzz with locals and tourists alike. Dining here is eclectic, from the fresh-caught seafood at Laishley Crab House overlooking the Peace River to upscale faves, like The Perfect Caper, a James Beard nominee. 

As you might imagine for a Florida seaside community, Punta Gorda is paradise for outdoor lovers. Boating, kayaking, and world-class fishing are everyday activities on Charlotte Harbor and the canals weaving through the city. The Harborwalk scenic trail is ideal for biking or a sunset ramble along the waterfront and five parks. The nearby nature preserves even offer endless birdwatching and wildlife. 

Healthcare is abundant here, too, with AdventHealth Port Charlotte and other facilities providing comprehensive medical services. As far as taxes, seniors looking for the most affordable places to retire generally know Florida is famous for its tax-friendly policies, including no state income tax and exemptions on retirement income — important to consider when you’re pondering, “Where can I afford to retire?”

Did you know?  Florida has no state income tax, which means all social security benefits, pension income, and income from an IRA/401(k) are all completely untaxed!

10. Des Moines, IA

• Average rent (one-bedroom): $1,075
• Average home value: $210,100
• Cost of living: 86.6
• Great for: Foodies, outdoor activities, museum day trips, easy healthcare access

Des Moines, Iowa, is where politicos go for the first round of campaigning and voters cast the first votes — but it’s also a destination for seniors looking for the most affordable places to retire. The revitalized downtown is a hotspot for cafes like Zanzibar’s Coffee Adventure and Centro, an Italian destination (if you go on a Monday, you’ll get half-priced pizza and Peroni).

For retirees who love the arts, Des Moines delivers. From the Des Moines Art Center and Civic Center performances to live jazz and festivals in the 13-acre urban greenspace of Western Gateway Park, the city offers year-round cultural events. Outdoorsy types will like the area’s 800-plus miles of connected trails for biking and walking, along with peaceful spots like Gray’s Lake Park for a sunset stroll. 

Healthcare here features top-rated systems like MercyOne Medical Center and UnityPoint Health. And when it comes to financial matters, Iowa is friendly to retirees. Although property taxes are a bit above average, the state exempts social security income, offers additional breaks for retirement income, and repealed its inheritance tax for 2025. 

You can mix-and-match PODS container sizes to meet your specific moving needs. 

Move Into Your Golden Years With PODS 

If you’re planning to downsize and spend your golden years in one of the most affordable places to retire, you can make your move flexible with PODS. With several moving container sizes to choose from, you can mix and match to meet your specific needs. Planning to put some things in storage? No problem! With one month’s storage built into the cost of every move, you can store one or more containers in a secure PODS Storage Center for as long as you need.

Editor’s note: Average and median rent prices were obtained from Zumper and Zillow; average home values were obtained from Zillow. For ease of reading, monthly rental prices were rounded to the nearest $25, and home values were rounded to the nearest $100.