15 Cheap, Beautiful Places To Retire
Most people facing retirement are working within a limited budget. However, that doesn't mean you have to settle for living out your golden years in a less-than-desirable locale just to make ends meet.
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Retirement should be the reward after years of work where you finally get to enjoy your life with minimal stress in an environment you find pleasing. To do that on a budget though, you'll need to choose a retirement destination that's not only affordable but also features a hospitable climate. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find the cheapest places to retire that feature favorable weather.
More often than not, retirees will find the most affordable and sunniest retirement destinations in the southernmost state of the continental U.S. -- Florida. In fact, one third of the 15 U.S. cities on this list are in Florida.
To rank in the study, each city had to meet the following requirements: More than 25% of the population had to be age 65 or older, the median home listing price must have ranked below the national average of $355,852 and the average annual temperature needed to fall in the moderate range. Check out these beautiful places to retire that won't stretch your bank account.
Sebring, Florida
Median home value: $235,043
Average temperature (Fahrenheit): 74
Total population: 11,087
Percentage of population 65 and older: 25.8%
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Mountain Home, Arkansas
Median home value: $178,022
Average temperature (Fahrenheit): 69
Total population: 12,993
Percentage of population 65 and older: 29%
Homosassa Springs, Florida
Median home value: $284,224
Average temperature (Fahrenheit): 73
Total population: 14,283
Percentage of population 65 and older: 26.3%
Myrtle Beach, South Carolina
Median home value: $341,674
Average temperature (Fahrenheit): 62.6
Total population: 37,100
Percentage of population 65 and older: 20.9%
Hot Springs Village, Arkansas
Median home value: $272,342
Average temperature (Fahrenheit): 73
Total population: 15,861
Percentage of population 65 and older: 62.8%
Kerrville, Texas
Median home value: $350,181
Average temperature (Fahrenheit): 64.6
Total population: 24,477
Percentage of population 65 and older: 27.9%
Lakeland, Florida
Median home value: $316,009
Average temperature (Fahrenheit): 72.6
Total population: 115,425
Percentage of population 65 and older: 22.2%
Athens, Texas
Median home value: $283,329
Average temperature (Fahrenheit): 66
Total population:12,781
Percentage of population 65 and older: 20.7%
Staunton, West Virginia
Median home value: $258,970
Average temperature (Fahrenheit): 53.9
Total population: 25,661
Percentage of population 65 and older: 21.2%
Branson, Missouri
Median home value: $258,970
Average temperature (Fahrenheit): 53.9
Total population: 25,661
Percentage of population 65 and older: 21.2%
New Bern, North Carolina
Median home value: $226,127
Average temperature (Fahrenheit): 62.7
Total population: 31,346
Percentage of population 65 and older: 22.7%
Mount Airy, North Carolina
Median home value: $177,715
Average temperature (Fahrenheit): 55.2
Total population: 10,213
Percentage of population 65 and older: 26.7%
Shelby, North Carolina
Median home value: $213,710
Average temperature (Fahrenheit): 59.3
Total population: 21,947
Percentage of population 65 and older: 26.1%
Palatka, Florida
Median home value: $206,338
Average temperature (Fahrenheit): 70.9
Total population: 10,512
Percentage of population 65 and older: 20.9%
Cullman, Alabama
Median home value: $197,133
Average temperature (Fahrenheit): 59.5
Total population: 17,540
Percentage of population 65 and older: 27.6%
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Cynthia Measom contributed to the reporting for this article.
Methodology: For this piece, GOBankingRates first (1) selected all U.S. cities with populations greater than 10,000 and at least 20 percent comprised of persons 65-years and older, as sourced from the Census Bureau's July 2021 population estimates. GOBankingRates then (2) ranked cities whose median home value in July 2022, as sourced from Zillow, was below the national average; and whose average annual temperatures ranged between 50 and 80 degrees (F), as (3) sourced from WeatherBase. All data compiled on August 29, 2022.
This article originally appeared on GOBankingRates.com: 15 Cheap, Beautiful Places To Retire
