For most people, retiring on a budget requires choosing an affordable destination featuring a high quality of life with a low cost of living. To assist you in your relocation plans, GOBankingRates looked at hundreds of U.S. cities to find not only some of the cheapest places to retire, but also some of the most beautiful.
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To rank in the study, each city had to meet the following requirements: More than 12% of the population had to be 65 or older, the total monthly expenditure dollar amount — including rent — had to be under $9,000, and the average livability score had to be higher than 60.
Check out these beautiful places to retire that won’t wreck your bank account.
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Total population: 113,710
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Percentage of population 65 and older: 15.6%
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Livability score: 65
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Total monthly expenditures (including rent): $2,701
Though Beaumont doesn’t necessarily have the highest livability score, GOBankingRates did rank it in first place based on the overall pros, such as an affordable cost of living, low housing expenses and how far your fixed income will go here. It also boasts a good percentage of seniors, making it a community that could definitely cater to many of your needs in retirement.
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Total population: 1,368
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Percentage of population 65 and older: 39.3%
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Livability score: 80
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Total monthly expenditures (including rent): $7,441
Goonies may never say die, but they do grow up, and if you’d like to retire in the scenic place where that movie was shot, then Cannon Beach is the spot for you to live out your golden years. Its natural beauty will draw you in, including the iconic Haystack Rock, walkable beaches and breathtaking coastal views.
Discover More: The 7 Best Retirement Towns You’ve Never Heard Of (But Should Consider in 2025)
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Total population: 88,244
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Percentage of population 65 and older: 25.8%
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Livability score: 74
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Total monthly expenditures (including rent): $5,176
As a vortex of cultural richness, outdoor recreation and a vibrant art scene, many retirees have found Santa Fe to be an ideal retirement destination. It’s located in the foothills of the Rockies, which provides ample opportunities for outdoor activities like hiking, biking and even skiing to help keep your more affordable life of leisure active.
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Total population: 8,422
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Percentage of population 65 and older: 23.4%
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Livability score: 82
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Total monthly expenditures (including rent): $7,060
