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.
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.
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.
Total population: 1,368
Percentage of population 65 and older: 39.3%
Livability score: 80
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.
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.
Total population: 8,422
Percentage of population 65 and older: 23.4%
Livability score: 82
Total monthly expenditures (including rent): $7,060
If you’re like most people facing retirement, you’re working with a limited budget. Even so, that doesn’t mean you should settle for living somewhere that doesn’t have big skies and bigger budget-friendliness. Whitefish has healthy doses of natural beauty serving as the backdrop to your new, comfortable and slower pace of life.
Total population: 2,179
Percentage of population 65 and older: 35.8%
Livability score: 73
Total monthly expenditures (including rent): $3,626
Marfa, located in West Texas, has a huge retirement community filled with artists who flocked there to be near the beautiful desert landscapes. If you retire here, you can appreciate the stunning vistas at an affordable price tag.
Total population: 2,676
Percentage of population 65 and older: 18.3%
Livability score: 84
Total monthly expenditures (including rent): $5,869
Leavenworth should be on your retirement radar due to its charming Bavarian village atmosphere, historical charm, outdoor recreation opportunities and booming senior community. The town’s unique blend of outdoorsiness and relaxed lifestyle makes it a must-consider when retirement planning.
Total population: 68,505
Percentage of population 65 and older: 17%
Livability score: 85
Total monthly expenditures (including rent): $5,145
Though there may be two amazing Portland coastal big cities to choose from, Portland, Maine, slightly edges out Oregon as it has a much more affordable cost of living, but doesn’t sacrifice an ounce of natural beauty. This great city is where retirees can enjoy convenient access to excellent healthcare, a rich history and a vibrant senior community.
Total population: 2,735
Percentage of population 65 and older: 18.9%
Livability score: 84
Total monthly expenditures (including rent): $4,170
Seward has a surrounding area that includes such magical locations as Hot Springs Village and offers several compelling reasons for retirement. These include a low cost of living and affordable housing, as well as benefits for retirees in Arkansas, such as exemption from Social Security income taxes and military retirement pay.
Total population: 22,332
Percentage of population 65 and older: 21%
Livability score: 85
Total monthly expenditures (including rent): $6,489
If you retire in Portsmouth, you’ll be setting yourself up with reasonably priced real estate surrounded by beautiful natural scenery. This high quality of life comes with a bill you’ll be able to easily afford on a fixed income with just a basic amount of retirement planning.
Total population: 19,421
Percentage of population 65 and older: 56.2%
Livability score: 79
Total monthly expenditures (including rent): $6,030
When you think of cheap places to retire, you probably don’t think you’ll find Naples on the list. However, this cozy beach town still has housing costs that won’t bankrupt your Social Security benefits. Over half of its population is age 65 and older, which makes this a great choice for retirees who want to enjoy easy access to a beachy lifestyle.
J. Arky contributed to the reporting for this article.
Methodology: For this study, GOBankingRates analyzed the most beautiful U.S. cities to find the cheapest cost of retirement. Locations were selected from USNews, Forbes.com, IBTimes, RealEstateNews.com, Architectural Digest, CNTraveller, USNews&Travel, TourScanner, WorldWildSchooling, and Timeout.com to find the most beautiful locations in the United States. For each location, several factors were found, including total population, population ages 65 and over, total households, and household median income, all sourced from the US Census American Community Survey. The cost-of-living indexes were sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation, and miscellaneous cost of living indexes. The average expenditure cost for each location can be calculated using the cost-of-living indexes and the national average expenditure costs, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey. The livability index was sourced from AreaVibes for each location. The average single-family home value was sourced from Zillow Home Value Index for March 2025. Using the average single-family home value, assuming a 10% down payment, and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. The cities were sorted to show the cheapest cost of retirement first. All data was collected on and is up to date as of May 16th, 2025.
