The Absolute Cheapest Cities To Retire In 2020

By Amanda Postma - Sep. 2, 2020

Find a Job You Really Want In

0 selections

Some people spend their whole lives looking forward to retirement.

The typical age of retirement is 62 years old. Even still, some people retire younger while others retire later.

Either way, you probably don’t want to spend all of your money right out of the gates. So it might be a good idea to look for some cheap cities that will support your retirement income.

So that’s what we set out to find to save you the research. We compared housing costs, rent costs, and state medicare calculated per person to find the absolute best and cheapest cities in the U.S. for retirees. Here’s our top 10:

Top 10 Cheapest Cities to Retire

  1. Pharr, Texas
  2. Mission, Texas
  3. Buffalo, New York
  4. Syracuse, New York
  5. Harlingen, Texas
  6. Brownsville, Texas
  7. Wichita Falls, Texas
  8. Camden, New Jersey
  9. Rochester, New York
  10. Beaumont, Texas

So there you have it. Retirement made easy and stress-free. Now all you need to do is enjoy it.

If none of these cities strikes your fancy, be sure to check out our full list of cities below.

Also, don’t forget to read our article on which states are the cheapest for retirement. No. 1 may surprise you. We’ll give you a hint. It’s not Florida.

How We Determined The Cheapest Cities To Retire

We ranked each city equally on the following factors:

Job type you want
Full Time
Part Time
Internship
Temporary
  • Median House Cost
  • Median Rent Cost
  • State Medicare Spend Per Person

First, we examined median housing costs using data from the ACS Census. Moving from a city with expensive housing costs to one with cheaper housing costs can drastically elevate retirees’ standard of living and significantly add to their retirement fund. The cheaper the housing, the better to retire.

Next we pulled in rental costs from the ACS. Not everyone wants to own a home or is capable of home maintenance as they cage. The lower the cost, the better for retirement.

Finally, we examined the cost of healthcare. You might be able to cut coupons or downsize your house, but you can’t choose to not get sick. This area is especially important because healthcare costs continue to rise each year and leaves many seniors scrambling.

We looked at state’s contributions to Medicare per residence. The more a state spends on Medicare, the better for seniors. All cities in a state received the same rank for this criteria.

We did not take weather or geography into consideration. Those craving the coast or whose retirement dream doesn’t include salting the walk may disagree with some cities in our top 10.

1. Pharr, Texas

pharr,

Median Home Cost: $73,900
Median Rent Cost: $685
State Medicare Spend Per Person:$11,895

Hopefully, you don’t have to go too ~far~ to land in the cheapest city for retirees. At No. 1, Pharr, Texas, proves it’s a great city to just kick back and reap all the benefits of being retired. The city is especially great for those who choose to rent as the median rent cost of $685 is the fourth lowest in the country.

2. Mission, Texas

mission,

Median Home Cost: $73,700
Median Rent Cost: $724
State Medicare Spend Per Person:$11,895

Yet another Texas city claims the second spot on our list. Mission, Texas, is the place to be when it comes to being retired. Whatever you decide to do, rent or buy, the prices are low enough that there is no wrong answer here. Add in the $11,895 state medicare spend per person and you’ll never want to leave. So go ahead and start on your mission to retire in Mission.

3. Buffalo, New York

buffalo,

Source: |GFDL

Median Home Cost: $78,200
Median Rent Cost: $792
State Medicare Spend Per Person:$12,179

We’ve heard Buffalo, New York, is a great place to retire. Statistically speaking, retirement living doesn’t get any better than this. With the median home cost of $78,200, you could buy a house to live out your retirement with ease. If you’re not sure about the commitment, you’re in luck. The median rent cost here is only $792 so you can spend a little more on the grandkids this year. Or you could even buy yourself a boat.

4. Syracuse, New York

syracuse,

Median Home Cost: $85,800
Median Rent Cost: $783
State Medicare Spend Per Person:$12,179

The fourth cheapest city to retire in is located in Syracuse, New York. Now, we didn’t think rent could get much cheaper in the great state, but Syracuse proved us wrong with a median rent cost of $783. Don’t forget to add in the $12,179 state medicare.

5. Harlingen, Texas

Source: Wikimedia

Median Home Cost: $66,500
Median Rent Cost: $766
State Medicare Spend Per Person:$11,895

Next on our retirement tour is Harlingen, Texas. You’ll notice that Texas pops up a lot on this list and it’s for good reason. Harlingen is nothing short of perfect for retirement. From the $66,500 median home cost to the $11,895 state medicare, you’ll have everything you need to thrive during retirement.

6. Brownsville, Texas

Source: Wikimedia

Median Home Cost: $86,400
Median Rent Cost: $744
State Medicare Spend Per Person:$11,895

Apparently Texas is the place to be during retirement. The sixth cheapest city to retire in is Brownsville, Texas. State Medicare is set at $11,895 and the median rent cost is only $744. But if you’d rather buy your home, the median cost of $86,400 is definitely nothing to scoff at.

7. Wichita Falls, Texas

wichita

Source: |CC0

Median Home Cost: $84,200
Median Rent Cost: $771
State Medicare Spend Per Person:$11,895

You thought we were going to say Wichita, Kansas, didn’t you? We’re not leaving Texas yet. Wichita Falls, Texas, comes in as the seventh cheapest city to retire in with the median home cost only at $84,200. There are cars more expensive than that.

8. Camden, New Jersey

camden,

Median Home Cost: $84,900
Median Rent Cost: $929
State Medicare Spend Per Person:$12,614

Finally, a state that’s not where all my exes live. Camden, New Jersey is the No. 8 city on our list. It’s No. 8 for a good reason. Camden has the highest state medicare spending per person at $12,614 in the entire country. Plus, the median home price of $84,900 isn’t too bad either.

9. Rochester, New York

Source: Wikimedia

Median Home Cost: $76,600
Median Rent Cost: $848
State Medicare Spend Per Person:$12,179

If you’ve decided New York is calling your name, don’t forget about Rochester. Out of all the cities we looked at, Rochester has the 16th cheapest median home cost at $76,600. That should have you singing, “I’m leaving today.” Because we know you want to be a part of it.

10. Beaumont, Texas

beaumont,

Median Home Cost: $81,100
Median Rent Cost: $809
State Medicare Spend Per Person:$11,895

It wouldn’t feel right ending this list with a city in any other state. Maybe that’s why Beaumont, Texas comes in as the 10th cheapest city. But it’s probably because the median rent there only costs $809 and homes go for around $81,100. Plus, state medicare spending per person clocks in at $11,895. Beaumont wraps up this list quite beautifully if I do say so myself.

Summary of the Cheapest Cities to Retire

Everyone has their dream retirement place that they’ve looked forward to for so many years.

But when the reality of how much money those places cost to live there sets in, you may be scrambling to reroute your retirement.

Instead of stressing, we found these 10 cities just for you.

With the cheapest rent costs, the cheapest median cost for a house and medicare spending calculated, you really can’t go wrong with any one of these.

Rank City State Median Home Cost Median Rent Cost Medicare Spending Per Person
1 Pharr Texas $73,900 $685 $11,895
2 Mission Texas $73,700 $724 $11,895
3 Buffalo New York $78,200 $792 $12,179
4 Syracuse New York $85,800 $783 $12,179
5 Harlingen Texas $66,500 $766 $11,895
6 Brownsville Texas $86,400 $744 $11,895
7 Wichita Falls Texas $84,200 $771 $11,895
8 Camden New Jersey $84,900 $929 $12,614
9 Rochester New York $76,600 $848 $12,179
10 Beaumont Texas $81,100 $809 $11,895
11 Edinburg Texas $99,500 $776 $11,895
12 McAllen Texas $111,600 $780 $11,895
13 Cheektowaga CDP New York $116,100 $827 $12,179
14 El Paso Texas $115,800 $798 $11,895
15 Lakeland Florida $102,400 $971 $12,229
16 Longview Texas $121,300 $801 $11,895
17 Trenton New Jersey $90,600 $1,024 $12,614
18 Waco Texas $95,800 $864 $11,895
19 Amarillo Texas $117,700 $834 $11,895
20 Laredo Texas $103,100 $863 $11,895
21 Schenectady New York $102,800 $954 $12,179
22 Largo Florida $71,600 $1,106 $12,229
23 Abilene Texas $94,300 $946 $11,895
24 Gainesville Florida $137,900 $984 $12,229
25 Victoria Texas $131,200 $863 $11,895
26 Killeen Texas $110,800 $932 $11,895
27 Flint Michigan $26,100 $704 $11,318
28 Daytona Beach Florida $163,400 $941 $12,229
29 Springfield Massachusetts $148,400 $862 $11,899
30 Waterbury Connecticut $119,200 $953 $11,964
31 San Angelo Texas $140,100 $871 $11,895
32 Lubbock Texas $122,800 $929 $11,895
33 Temple Texas $145,400 $869 $11,895
34 Albany New York $141,200 $952 $12,179
35 Palm Bay Florida $152,300 $994 $12,229
36 Pine Hills CDP Florida $152,500 $1,005 $12,229
37 Youngstown Ohio $35,000 $656 $11,038
38 Decatur Illinois $78,200 $694 $11,116
39 Spring Hill CDP Florida $143,900 $1,052 $12,229
40 Canton Ohio $56,800 $682 $11,038
41 Erie Pennsylvania $83,300 $720 $11,243
42 Port Charlotte CDP Florida $172,000 $966 $12,229
43 Dayton Ohio $55,600 $707 $11,038
44 Cleveland Ohio $58,800 $706 $11,038
45 San Antonio Texas $123,300 $972 $11,895
46 Pasadena Texas $119,100 $989 $11,895
47 Corpus Christi Texas $113,200 $1,016 $11,895
48 Lorain Ohio $83,100 $689 $11,038
49 Baytown Texas $102,700 $1,043 $11,895
50 Toledo Ohio $70,700 $737 $11,038
51 Bryan Texas $150,900 $922 $11,895
52 Akron Ohio $80,100 $737 $11,038
53 Rockford Illinois $87,200 $755 $11,116
54 Reading Pennsylvania $61,500 $816 $11,243
55 Detroit Michigan $45,200 $836 $11,318
56 Lansing Michigan $84,000 $820 $11,318
57 Tyler Texas $168,600 $897 $11,895
58 Muncie Indiana $51,700 $764 $10,714
59 Baltimore Maryland $134,200 $1,057 $12,000
60 Scranton Pennsylvania $98,400 $789 $11,243
61 New Bedford Massachusetts $226,100 $812 $11,899
62 Gary Indiana $58,900 $773 $10,714
63 Hartford Connecticut $168,600 $957 $11,964
64 Kalamazoo Michigan $98,900 $817 $11,318
65 Jacksonville Florida $168,700 $1,074 $12,229
66 New Britain Connecticut $164,000 $969 $11,964
67 Deerfield Beach Florida $91,100 $1,324 $12,229
68 Lauderhill Florida $119,400 $1,246 $12,229
69 Cincinnati Ohio $110,300 $745 $11,038
70 South Bend Indiana $74,700 $790 $10,714
71 Melbourne Florida $177,700 $1,072 $12,229
72 Odessa Texas $133,200 $1,062 $11,895
73 Tallahassee Florida $225,300 $971 $12,229
74 Evansville Indiana $96,000 $764 $10,714
75 Fort Wayne Indiana $99,300 $758 $10,714
76 Houston Texas $148,300 $1,032 $11,895
77 Shreveport Louisiana $123,300 $819 $11,811
78 Springfield Illinois $114,500 $810 $11,116
79 East Orange New Jersey $186,900 $1,106 $12,614
80 Clearwater Florida $198,600 $1,060 $12,229
81 Albany Georgia $101,300 $730 $10,429
82 Lawton Oklahoma $78,200 $800 $10,429
83 Jackson Mississippi $85,100 $831 $11,021
84 St. Joseph Missouri $107,100 $760 $10,457
85 Fort Worth Texas $150,500 $1,061 $11,895
86 Fall River Massachusetts $242,100 $843 $11,899
87 Fort Myers Florida $208,900 $1,063 $12,229
88 Lehigh Acres CDP Florida $176,100 $1,142 $12,229
89 Hemet California $91,200 $1,138 $11,833
90 Springfield Missouri $123,400 $716 $10,457
91 Dallas Texas $157,900 $1,054 $11,895
92 Town ‘n’ Country CDP Florida $154,500 $1,241 $12,229
93 Lafayette Indiana $117,800 $785 $10,714
94 St. Petersburg Florida $197,600 $1,132 $12,229
95 Peoria Illinois $124,700 $826 $11,116
96 Hammond Indiana $89,300 $840 $10,714
97 Gulfport Mississippi $115,300 $824 $11,021
98 Lake Charles Louisiana $156,100 $808 $11,811
99 Conroe Texas $160,400 $1,090 $11,895

Never miss an opportunity that’s right for you.
Amanda Postma

Author

Amanda Postma

Amanda Postma is a writer for the Zippia Career Advice blog with a focus on creating entertaining content to help you through your job search. She received her BA from the University Of Missouri-Columbia.

Find The Best Job That Fits Your Career

Major Survey Entry Point Icon

Where do you want to work?

0 selections

Related posts