The Cheapest Places to Retire Across the US That Look Expensive

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Retirement takes careful planning. The last thing you want to do is run out of money in your 70s or 80s. It should be no surprise that every region has a different price tag, which means your housing budget will look different depending on where you retire. Although the Midwest is notorious for cheap housing, you might not want to hang your hat in the middle of Missouri. 

In this article, we’ll explore some cheap places to retire across the US that look expensive. Retiring in your dream state doesn’t have to come with a high price tag. Moving just 20 minutes outside the city can give you everything you need without pinching pennies during retirement. 

Syracuse, New York

Nestled in Onondaga County, Syracuse might be the retirement destination you are looking for in central New York. You can leverage a cost of living 12.6% lower than the national average with affordable home prices, shoreline views, and low humidity. The average monthly rent for a 2-bedroom apartment is $1,080 a month.

There are plenty of activities you can enjoy, with the Everson Museum of Art, popular restaurants, wineries, and outdoor activities, like Onondaga Lake Park and NBT Bank Stadium. If you choose Syracuse as your retirement destination, expect to pay high New York income taxes. Lowering your housing costs can help you set aside more money for tax time. 

Fresno, California

Do you like to sit by the ocean? How about hiking, biking, or beach walking? If so, Fresno, California, might be a contender on your retirement list. Fresno’s cost of living is 3.7% above the national average; however, you can enjoy an average monthly rent 7.5% lower than the national average. If you are looking to purchase a home, the median price is around $360,000. 

Fresno is known for it’s strong agriculture, with grapes, nuts, fruits, and vegetables grown in the region. Despite its primary source of revenue coming from agriculture, Fresno still has many urban amenities for you to enjoy, like parks, festivals, and transportation.  

Mountain View, Hawaii 

If the year-round sun, close-knit culture, and breathtaking views are something you’re looking for in a retirement destination, Mountain View might be your new home. Mountain View is a small town 200 miles southeast of Honolulu. The median home price in Hawaii is 6.2% lower than the national average, but rent prices remain 12.8% higher for a standard 2-bedroom. 

Housing isn’t the only expense you must consider during retirement. The average cost of living, including groceries, transportation, and other necessities, is 31.9% higher than the national average. This is a drop in the bucket compared to Honolulu’s cost of living, which is 71.5% higher than the national average.

North Adams, Massachusetts

Combine the rich history with award-winning restaurants and Massachusetts might be a contender on your retirement list. North Adams is an independent town in Berkshire County 45 miles southeast of Albany, New York. This little town has a cost of living 4.1% lower than the national average.

Even more astounding is that the median home price is 57.9% lower than the national average. North Adams is part of the Pittsfield Metro Area, giving you access to different shopping outlets, restaurants, and outdoor activities. North Adams does experience all four seasons. If you are looking for year-round sun, this might not be the retirement destination for you. 

Yakima, Washington 

Have you ever considered retiring in Washington? Are you put off by the high cost of living? Yakima might be the solution. Retirees heading to Yakima can enjoy a cost of living 7.9% below the national average, with average rent for a 2-bedroom apartment 21.2% lower than the national average. 

Moving to Yakima doesn’t mean you are precluded from city life. Yakima is 100 miles northeast of Portland and 60 miles southeast of Mount Rainier. From fine dining and professional sports teams to high-end shopping centers and endless outdoor activities, Yakima might be your new retirement destination. 

The Bottom Line

Where are you planning on retiring? Have you ever considered these options? To determine which city is the best place for you, stay a week there! After a week, you should have a feel for the community, activities, and lifestyle. Soft launching your retirement helps solidify your decision and makes the move easier. 

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