Retirement is a time of frugality for many, since other than Social Security and pension payments, many folks don't have much money coming in. If you're not rooted to a specific location, you are free to move to where the living comes cheaply, like the 10 small towns on this list.
For this study, GOBankingRates considered small towns with populations of less than 30,000 where you can retire on a budget of $2,300 or less, using data from ApartmentList June 2022.
We also used Sperling's Best to find the cost of living index for every city on the list and data from the Bureau of Labor Statistics' 2020 Consumer Expenditure Survey.
We then added monthly housing, grocery and healthcare costs together to find where a person 65 and older could get by on the $2,300 budget.
Equally important was a city's livability score -- the cities on this list had to have a score of 65 or higher as sourced from AreaVibes. When all was said and done, three states dominated the list. READ MORE...
Equally important was a city's livability score -- the cities on this list had to have a score of 65 or higher as sourced from AreaVibes. When all was said and done, three states dominated the list. READ MORE...
