Wednesday
August 27, 2014

7 Budget-Friendly Retiree Havens

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7 Budget-Friendly Retiree Havens

Where can you retire comfortably and still live on, say, $30,000 a year? AARP The Magazine recently compiled a list of the best places for retirees throughout the country, factoring in taxes, housing costs, and dining and entertainment options for retirees on strict budgets. 

The following cities topped the AARP list for 2014:

  1. Daytona/Deltona/Ormond Beach, Fla.
    Median home price: $108,900
    Median mortgage payment: $416
    Median property tax: $1,161
  2. Pocatello, Idaho
    Median home price: $127,500
    Median mortgage payment: $487
    Median property tax: $1,179
  3. Bangor, Maine
    Median home price: $110,400
    Median mortgage payment: $421
    Median property tax: $1,303
  4. Greenville, S.C.
    Median home price: $127,600
    Median mortgage payment: $487
    Median property tax: $753
  5. Grand Rapids, Mich.
    Median home price: $114,200
    Median mortgage payment: $436
    Median property tax: $1,830
  6. South Bend, Ind.
    Median home price: $82,500
    Median mortgage payment: $315
    Median property tax: $846
  7. Erie, Penn.
    Median home price: $106,600
    Median mortgage payment: $407
    Median property tax: $1,899

Source: “10 Budget Cities Where You Can Retire in Comfort,” The Wall Street Journal (June 8, 2014)

Read more:

Baby Boomers Turn to Cities for Retirement
Tapping Your Expertise for Your Retirement
Survey: High Expectations for Retirement Homes