20 Cheapest Cities To Retire on the East Coast

A reported 4 million more people are retiring every year, and more than 5 million start to collect Social Security. That means a lot of people need to know how much it will cost to retire where they live.

GOBankingRates recently scouted over 2,700 cities on the East Coast to find the cheapest places to retire there. As expected, the smallest towns typically had the lowest cost of living.

While you might be one of the 4,239 residents in the cheapest retirement town on the list (Farrell, Pennsylvania) or one of the retirees in the most expensive city on the list (Palm Beach, Florida), we are going to look at the best values for you in cities of at least 10,000 across the East Coast.

Also see the cheapest city to retire in every East Coast state, regardless of population.

• Population: 22,527
• % population 65+: 16.4%
• Monthly expenditures (no mortgage): $1,673

• Population: 13,019
• % population 65+: 17.4%
• Monthly expenditures (no mortgage): $1,685

• Population: 21,727
• % population 65+: 18.6%
• Monthly expenditures (no mortgage): $1,694

• Population: 18,938
• % population 65+: 23.7%
• Monthly expenditures (no mortgage): $1,698

• Population: 13,189
• % population 65+: 19.6%
• Monthly expenditures (no mortgage): $1,707

• Population: 15,353
• % population 65+: 16.5%
• Monthly expenditures (no mortgage): $1,713

• Population: 10,733
• % population 65+: 15.2%
• Monthly expenditures (no mortgage): $1,723

• Population: 13,094
• % population 65+: 19.8%
• Monthly expenditures (no mortgage): $1,723

• Population: 13,019
• % population 65+: 17.4%
• Monthly expenditures (no mortgage): $1,685

• Population: 11,992
• % population 65+: 21.1%
• Monthly expenditures (no mortgage): $1,731

• Population: 27,353
• % population 65+: 17.5%
• Monthly expenditures (no mortgage): $1,731

• Population: 43,490
• % population 65+: 14.6%
• Monthly expenditures (no mortgage): $1,734

• Population: 22,923
• % population 65+: 17.9%
• Monthly expenditures (no mortgage): $1,738

• Population: 43,508
• % population 65+: 17.3%
• Monthly expenditures (no mortgage): $1,738

• Population: 298,564
• % population 65+: 13.9%
• Monthly expenditures (no mortgage): $1,742

• Population: 33,080
• % population 65+: 12.7%
• Monthly expenditures (no mortgage): $1,744

• Population: 94,156
• % population 65+: 16.0%
• Monthly expenditures (no mortgage): $1,745

• Population: 115,263
• % population 65+: 16.1%
• Monthly expenditures (no mortgage): $1,745

• Population: 10,794
• % population 65+: 21.0%
• Monthly expenditures (no mortgage): $1,746

• Population: 11,720
• % population 65+: 12.9%
• Monthly expenditures (no mortgage): $1,747

Methodology: For this study, GOBankingRates analyzed cities in East Coast states to find the cheapest city to retire in each state. First GOBankingRates identified cities in East Coast states, defined as CT, DC, DE, FL, GA, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA, VT, and WV. GOBankingRates found total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. The cost of living was sourced from Sperling’s BestPlaces and include the grocery, healthcare, housing, utilities, transportation and miscellaneous cost of living. Using the cost of living and the national average expenditure costs for retired residents, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey, the average expenditure cost for retired residents for each location was calculated. All data was collected on and is up to date as of Jan. 8, 2025.