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We gathered information from a study that ranked the 100 largest cities in the U.S. The ranking considered how much money is needed each year for retirement to cover basic costs such as housing, healthcare, groceries, transportation, and utilities.

Additionally, the study assessed the overall quality of life in these cities (livability). The focus is on cities where 10% or more of the population consists of seniors. Below, you will find the top 13 places listed in this study that are considered to be some of the cheapest places to live in retirement.

Arlington, Texas

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Arlington was mentioned in the study as having a high livability score of 77 because it has many great amenities and homes that are not too expensive. The typical home costs around $320,019.92, and healthcare, groceries, and housing costs are lower than in other places.

Arlington spends about $52,558.13 annually, and around 12.51% of the people living here are 65 or older. This makes Arlington a nice place to live that is very affordable for retirement.

Charlotte, North Carolina

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In Charlotte, people spend around $51,984.58 annually, and about 11.30% of the population is 65 or older. The city’s livability score is 66, and the cost of living is slightly less than the national average.

Most expenses in Charlotte are lower than the national average, except for housing, which is 3.3% higher at $19,494.78 annually.

Dallas, Texas

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In Dallas, people spend about $52,662.41 each year, and around 11.35% of them are 65 or older. The city has a livability score of 69. Living here means housing is a bit more costly, with the typical home valued at $325,315.11.

But for retirees, there are some savings on healthcare and housing, as both are cheaper than what most places charge.

Durham, North Carolina

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In Durham, people spend just under $50,837.48 every year, and about 12.92% of them are 65 or older. Even though the cost of living is only a bit lower, around 2.5% less than the national average, Durham is still a great place to retire.

It has a high livability score of 70, and with annual expenses just below $51,000, it offers a great living situation for retirees.

Fort Worth, Texas

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Fort Worth spends about $52,245.28 annually, and around 10.30% of the people are 65 or older. It gets a high livability score of 73.

Even though it’s the first city on the list where the cost of living is a bit higher than the national average, everything, except for transportation, costs less than what most places charge in Fort Worth.

Madison, Wisconsin

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Madison spends about $52,870.97 annually, and around 13.48% of the people are 65 or older. It gets a livability score of 74.

Even though the cost of living is only a little higher, about 1.4% more than what most places charge, Madison’s high livability score suggests that the slightly higher cost might be worth it. What’s good is that healthcare, groceries, and transportation all cost less than what you’d find in most places.

New Orleans, Louisiana

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New Orleans spends about $52,975.26 annually, and a good chunk, around 16.60%, of the people are 65 or older. It gets a livability score of 63.

Even though the city has a charm that draws in visitors, its livability score isn’t very high. The cost of living is a bit higher, about 1.6% more than what most places charge, but the good part is that housing and utilities cost less than what you’d find in most places.

Raleigh, North Carolina

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Raleigh spends around $53,392.38 annually, and about 12.20% of the people are 65 or older. It gets a livability score of 74.

Even though the cost of living is a bit higher, about 2.4% more than what most places charge, Raleigh’s good livability score suggests that the small increase in costs might be worth it. What’s good is that healthcare and transportation costs here are less than what you’d find in most places.

Richmond, Virginia

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Richmond spends about $50,107.50 annually, and a good portion, around 14.19%, of the people are 65 or older. It gets a livability score of 72.

What’s nice is that the cost of living here is noticeably lower, about 3.9% less than what most places charge nationally. With a high livability score and all the expenses being less than what you’d find in most places, Richmond is a great city to consider for retirement.

Spring, Texas

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Spring, Texas, spends about $52,141.00 annually, and around 9.52% of the people are 65 or older. The city’s cost of living is right in line with what most places charge nationally.

Even though it has the lowest percentage of adults who are 65 and older, Spring gets a high livability score of 77, making it really attractive for retirees.

Spokane, Washington

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Spokane spends about $51,411.03 annually, and a good portion, around 15.31%, of the people are 65 or older. It gets a livability score of 67.

Most things cost less than what you’d find in most places here, except for housing, which is about 14.9% higher than what most places charge. Overall, Spokane’s cost of living is only a bit lower, about 1.4%, than what you’d find nationally.

St. Paul, Minnesota

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St. Paul spends about $51,411.03 annually, and around 12.51% of the people are 65 or older. It gets a livability score of 63.

What’s good is that healthcare, utilities, and housing costs here are all less than what you’d find in most places. Also, the typical home value is not very high, at $286,186.41.

St. Petersburg, Florida

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St. Petersburg spends about $52,349.56 annually, and a good chunk, around 20.18%, of the people are 65 or older. It gets a livability score of 70.

Known for drawing in more seniors, the city is a solid choice for retirement with its lovely weather and oceanfront views. Just keep in mind that you might need to pay a bit more for those beautiful views since the cost of living here is a bit higher than the national average.

Conclusion

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These cities have a lot to offer when it comes to finding a good and not-too-expensive place to retire. From the friendly vibes in Arlington, Texas, to the beautiful scenes in St. Petersburg, Florida, each place on our list has something special.

Even though living costs might vary a bit, all these cities have one thing in common: they are great for seniors. Whether it’s a high score for overall livability, lower costs, or unique attractions, each city is worth considering for a retirement that’s both enjoyable and doesn’t break the bank.

Understanding these factors helps retirees make smart choices for a satisfying and budget-friendly retirement adventure.

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