Affordable Places To Live for Retirees

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If you have retired or are considering it, the first question you’ve asked yourself is likely, ‘“How can I afford to do this?” With the cost of living increasing annually, many people are considering moving to a more affordable city to live out their golden years.

Less expensive housing, healthcare, food and utilities in a pleasant climate can go a long ways towards enjoying your later years even earlier. To help you begin your search for a great place to retire, look at what these five cities have to offer (and save!) you.

Amarillo, Texas

Median Rent: $678 for a one bedroom

Average House Value: $132,500

Population: 200,000

Weather: Hot summers, short winters

Amarillo, Texas may be famous for its great steak challenge, incredible canyons, and history. Still, it has a great deal more to offer. There are safe and quiet communities, as well as reputable hospitals in Amarillo. It also boasts well-known theaters, art studios and is home to the Don Harrington Discover Center and Space Theater.

Memphis, Tennessee

Median Rent: $770 for a one bedroom

Median House Value: $85,700

Population: 1,156,000

Weather: Warm and sunny in spring and fall, hot/humid summers and less than three inches of snow in winter.

Housing expenses are 34 percent lower than the national average, making Memphis an affordable option for many retirees. It has several hospitals and medical centers and over 30 free and income-based medical clinics in the greater Memphis area.

Do you remember the song called ‘Walking in Memphis?’ Walking is a popular pastime in this home of the Blues and birthplace of Rock and Roll. There is no shortage of music-themed restaurants, activities, and places to visit. Plus, Graceland is only a 15-minute drive from downtown!

Oklahoma City, Oklahoma

Median Rent: $761 for a one bedroom

Median House Value: $130,000

Population: 998,000

Weather: Temperate, humid subtropical climate with less than seven inches of snow in the winter.

Oklahoma City has a reputation for its warm climate and friendly people. There are several large hospitals and medical centers nearby and no shortage of things to do. It is easy to get around too, as it’s quite walkable – perfect to keep your fuel costs low. You can live in the country and get downtown within about 20 minutes.  If you enjoy southern hospitality, this may be a perfect place for you!

Youngstown, Ohio

Median Rent: $662 for a one bedroom

Median House Value: $44,800

Population: 61,833

Weather: Humid climate with four distinct seasons

Youngstown is a very affordable option. This is a small and growing city with a lot to do. Powers Auditorium, formerly Warner Brother’s movie palace, is the city’s main music venue and the home of the Youngstown Symphony Orchestra.

For sports fans, the Covelli Center is the home of the Youngstown Phantoms hockey team. Youngstown also has a solid collegiate sports roster.

There are theatres, great restaurants, museums, and numerous parks to enjoy in this little city.

Albuquerque, New Mexico

Median Rent: $779 for a one bedroom

Median House Value: $203,500

Population: 929,000

Weather: Sunny and dry, averaging 278 days of sunshine a year.

With an elevation of 5,314 feet above sea level, Albuquerque is the highest city in the USA. Baseball, 170 parks for leisurely walks in and numerous free activities are just a few of the activities that draw retirees here.

Albuquerque is the medical epicenter of New Mexico. There are numerous world-class medical centers and a large teaching hospital to help you manage any health or medical concerns as you age.

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There are many ways to make your retirement affordable and enjoyable. Moving to a less expensive city that still suits your interests and needs is something you might want to consider. With an open mind and a bit of research, you may find a fabulous new city that can save you money and enrich some of the best years of your life. You may even find that a move will allow you to retire a few years earlier, allowing you more time to enjoy your later years while exploring your new city!