50 cheapest places to retire in America

Retiring on a tight budget in retirement is, unfortunately, the norm — a recent GOBankingRates survey found that more than half of Americans have less than $10,000 saved for retirement. However, a small nest egg can be stretched further if you retire to a place with a low cost of living.

To pinpoint the cheapest places to retire, GOBankingRates used cost-of-living indices from Sperling’s Best Places to compare the cost of housing, groceries, transportation, utilities and health in 150 U.S. cities. We then used that data along with U.S. Bureau of Labor Statistics data on average annual expenditures for adults 65 and older to come up with a formula to predict annual expenditures in each city.

Click through to see if you already live in a cheap city for retirees or get inspiration to relocate to one of the best places for retirement.