Study Finds the Best Cities for Cheap Retirement

By Kat



Some of the most important factors for living somewhere affordable include the 10-year cost of living, the difference between savings and the cost of living, average rent, mortgage, and more. In addition to all of this, you have to consider personal spending as well. 


If you think about all of these things, someone with a smaller retirement fund may be in trouble depending on where they live. Retirement doesn’t necessarily mean you’re set for life, as you have to be cautious about your spending habits.


Coventry Direct ranked the top 50 cities in the U.S. based on retirement affordability. The rankings are dependent on a variety of factors as mentioned above. Here are the top 5 cities based on each factor:


10 Year Cost of Living

  1. Louisville, KY
  2. Indianapolis, IN
  3. Buffalo, NY
  4. St. Louis, MO
  5. Detroit, MI


Average Retirement Savings and Cost of Living

  1. Louisville, KY
  2. St. Louis, MO
  3. Detroit, MI
  4. Memphis, TN
  5. Pittsburgh, PA


In addition to the cost of living, these are the cities with the largest retired population:


Percentage of Retired Population

  1. Tampa, FL
  2. Columbus, OH
  3. Portland, OR
  4. Miami, FL
  5. Milwaukee, WI


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