10 Best Small Towns To Retire In America On $2,300 Per Month
“Best small towns to retire in America”
In retirement, many people practice modest living because, aside from Social Security and pension payments, many people don’t have much income to depend on. If you’re not tied down to one place, you have the freedom to relocate to a place where rent is low, like one of the ten small towns on this list. Using information from ApartmentList, 2022, Talkfinance24 looked at tiny towns, those with a population of fewer than 30,000—where you may retire on a budget of $2,300 or less. Additionally, we used information from the 2020 Consumer Expenditure Survey conducted by the Bureau of Labor Statistics and Sperling’s Best Places to determine the cost of living index for each city on the list. We then combined monthly housing, food, and medical bills to see how a someone 65 and older could survive on the $2,300 budget. Read also What Is The Best State To Live On Social Security Only? Here Are 15 Best States You Can Live Comfortably On Social Security Check Only
Best Towns To Retire In America On $2,300 Monthly
On the Verge of preparing this list of the best small towns to retire in America, a city’s livability score was also crucial; to make this list, a city needed to have a score of 65 or higher according to AreaVibes. Three states dominated the list once everything was said and done. The best small towns to retire in America on $2,300 a month are detailed below. Read also 3 Key Steps To Becoming Financially Independent For Early Retirement
Top Small Cities You Can Retire On $2,300 In US
10. Humble, Texas
√ $984 on average rent for 1-bedroom
√ Spending each month: $2,139.58
Nearly 15% of people in Humble are 65 years of age or older. Only $336.67 per month is spent here on groceries, while $305.48 is spent on utilities. It’s considered as one of the best small towns to retire in America.
9. Seabrook, Texas
√ 1 bedroom rent on average: $1,119
√ Spending each month: $2,289.70.
The average monthly cost in Seabrook is about $400 less than the national cost. While healthcare costs in this case total $513.44, other costs, such as the monthly cost of groceries, are minimal at $352.09. For this reason, it’s considered in this list as one of the best small towns to retire in America. Read also 8 Most Essential Things You Need To Know Before Retirement
8. Auburn Hills, Michigan
√ One-bedroom apartment typical rent: $1,058
√ Spending each month: $2,157.47
The monthly cost of groceries in Auburn Hills is only $333.17, whereas the monthly cost of healthcare is $452.31, hence can be considered as one of the best small towns to retire in America by seniors.
7. Hopkins, Minnesota,
√ One-bedroom apartment typical rent: $1,105
√ Spending each month: $2,204.15
In Hopkins, the monthly cost of utilities is $309.26, and the monthly cost of healthcare is only $436.20, so your wages won’t be severely squeezed. Read also 3 Crucial Things You Must Do After Retirement – Your Future Self Will Thank You!
6. Universal City in Texas
√ One-bedroom apartment typical rent: $1,106
√ Expenditures per month: $2,252.54
14.3% of the people in Universal City are 65 years of age or older. Grocery costs are reasonable at $322.31 per month, and utilities are at $305.79 per month. It’s also considered in this list as one of the best small towns to retire in America.
5. Maryland Heights, Missouri
√ 1-bedroom rent on average is $999.
√ Spending per month: $2,148.30
Maryland Heights has one of the lowest monthly utilities costs on the lists, at $298.23 per month. Monthly grocery costs are still under the national average, as well, at $342.98. Read also 4 Easy Ways To Avoid Wasting Money In Retirement – A Sure Way Solution To Running Out Of Money In Retirement
4. Tomball, Texas
√ Average rent for 1-bedroom: $1,072
√ Monthly expenditures: $2,236.22
In Tomball, 18.8 percent of the population is age 65 or older. Here, your income goes decently far, with monthly utilities at $306.42 per month and monthly groceries costing $344.03 per month. Tomball is also considered in this list as one of the best small towns to retire in America
3. Willoughby Hills, Ohio.
√ 1-bedroom rent on average is $958.
√ Spending each month: $2,054.77
Healthcare expenses in Willoughby Hills, where 18% of the population is over 65, are only $464.54 a month. Read also 10 Expert-Approved Tips For Retirement Planning(Before You Start Saving)
2. Parma Heights, Ohio
√ $889 on average per month for 1-bedroom.
√ Expenditures per month: $1,983.44
You’ll pay the least expensive rent of all the cities on the list in Parma Heights, which has the highest percentage of residents who are 65 or older (20%). Other costs are also reasonable. Healthcare expenses amount to $457.87 per month, while utilities are $297.28 per month. For this reason, Parma Heights is also considered in this list as one of the best small towns to retire in America.
1. Farmington, Michigan
√ 1-bedroom rent on average is $982
√ Expenditures each month: $2,091.20
The least expensive place to live on this list is Farmington. Even if some of its costs are slightly higher than those in the second-place city, generally, it has a superb livability score of 94 and its monthly living costs are over $600 less than the national average, hence, considered as one of the best small towns to retire in America. Read also 6 Best Ways To Stretch Your Social Security Check Further During Inflation
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