20 Cheapest Places To Retire on the East Coast in 2025

Making sure that you’re set for your retirement years necessitates more than just saving up a healthy nest egg. It also requires that you plan on a retirement location that’s affordable enough to maintain your savings throughout your golden years.

This is why GOBankingRates has studied the recent data to craft a list of the cheapest American cities to retire in, analyzing such factors as the retirement community populations, livability and the cost of living. From that study, GOBankingRates has put together a list of the 20 cheapest places to retire on the East Coast in 2025.

• Population 65+: 21.5%
• Monthly cost of living (with mortgage): $4,306
• Livability: 68

Not only is Florida a state with no income tax, but Port St. Lucie is far more affordable than so many of the other beach cities in southern Florida. Coupled with Florida’s tropical climate, the city’s sunny beaches and a multitude of outdoor activities, that makes it a perfect place for an active senior to spend the golden years.

• Population 65+: 13.2%
• Monthly cost of living (with mortgage): $4,280
• Livability: 80

Port St. Lucie isn’t the only affordable major city in Florida. Tampa has a rather low cost of living as well, just 4.2% higher than the national average. Housing is also fairly inexpensive compared to other big cities in the rest of the state. Tampa is also described as having a “small city” feel, despite being a large, bustling metropolis.

• Population 65+: 20.5%
• Monthly cost of living (with mortgage): $4,280
• Livability: 86

St. Petersburg’s cost of living runs about 2.8% more than the national average. Avalon Group Realty calls the city’s housing market healthy; housing is 2.6% cheaper than the national average. Additionally, St. Petersburg has a stable economy and is very close to larger cities such as Tampa and Sarasota.

• Population 65+: 10.8%
• Monthly cost of living (with mortgage): $4,260
• Livability: 80

Thanks to a thriving job market (it’s the second-biggest banking center in America after New York City), low taxes and a very affordable housing market (just 3.3% above average), Charlotte has a rather low cost of living (2.5% higher). That makes it a very retirement-friendly city.

• Population 65+: 13.0%
• Monthly cost of living (with mortgage): $4,223
• Livability: 82

Known as “Bull City,” Durham’s average cost of living is approximately 1.2% lower than the national average.

• Population 65+: 13.6%
• Monthly cost of living (with mortgage): $3,964
• Livability: 84

Richmond is one of the oldest large cities in America, with a rich and extensive history and culture. Additionally, the metropolis has a healthy economy thanks to the healthcare, technology and finance industries. Richmond also has a low cost of living — about 5% lower than the rest of America.

• Population 65+: 14.7%
• Monthly cost of living (with mortgage): $3,703
• Livability: 84

The cost of living is 4.3% lower in Jacksonville than the national average. Housing is around 21% cheaper.

• Population 65+: 11.4%
• Monthly cost of living (with mortgage): $3,659
• Livability: 85

Want a Florida retirement city that’s noted for its beauty, its charm and its vibrant community? Per Resident Magazine, Tallahassee’s strong job market helps keep the city affordable. The cost of living is about 9% below average, and housing is about 25% less.

• Population 65+: 12.6%
• Monthly cost of living (with mortgage): $3,628
• Livability: 81

Home values in Norfolk are approximately $296,351. Rental prices are also lower in Norfolk than the average prices across the country — housing in general is 17% cheaper.

• Population 65+: 13.7%
• Monthly cost of living (with mortgage): $3,593
• Livability: 76

If you are looking for very affordable housing prices (25% cheaper than the U.S. average), rich culture (such as museums and historic landmarks) and a close proximity to a number of other large cities, Newport News could be the city for you.

• Population 65+: 13.2%
• Monthly cost of living (with mortgage): $3,584
• Livability: 75

Recently, the Wall Street Journal ranked Springfield as one of the five most affordable housing markets in America. The median home value is about $281,000. For a retiree planning on buying a home to settle down in, Springfield is a most attractive option.

• Population 65+: 13.8%
• Monthly cost of living (with mortgage): $3,333
• Livability: 79

Want to spend your golden years in a bustling city with a vibrant foodie culture, a “small city vibe” and extremely affordable real estate when compared to the rest of America (and surrounding cities in New York)?

• Population 65+: 13.9%
• Monthly cost of living (with mortgage): $3,312
• Livability: 83

Greensboro’s cost of living runs 15.8% lower than the national average, meaning it’s a haven for retirees on fixed incomes. The city also features a lovely arts scene, with a number of festivals (from music to Shakespeare celebrations).

• Population 65+: 14.8%
• Monthly cost of living (with mortgage): $3,293
• Livability: 63

Living in Winston-Salem has noted that the North Carolina city is a very attractive one to homebuyers, as it’s

Winston-Salem is replete with lovely homes that are well below the national median price (37.5% cheaper) — part of a cost of living that is 16% less than the American average. Retirees on the go will also enjoy that the city is very easy to navigate, with a low traffic rate — the average drive takes no more than 10 to 15 minutes.

• Population 65+: 12.8%
• Monthly cost of living (with mortgage): $3,248
• Livability: 76

Resident Magazine has noted that Rochester falls somewhere between the busy hustle of New York City and the calm quiet of a smaller town. It’s a very affordable city (88.6 COL index), with low rental and housing costs (55% cheaper than average) and a strong arts community.

• Population 65+: 12.7%
• Monthly cost of living (with mortgage): $3,172
• Livability: 73

Retirees looking to spend their golden years in Fayetteville will be happy to know the city has a cost of living far lower than the rest of North Carolina (COL index of just 81.4), with housing prices equally low (about 52% of the national average). Elsewhere, there are a number of parks, trails and recreation areas for hiking and fishing to accommodate an active senior lifestyle, per Fayetteville Homes for Sale.

• Population 65+: 14.9%
• Monthly cost of living (with mortgage): $3,003
• Livability: 77

While Baltimore’s prices are on the rise, they are still quite low when compared to the pricey suburbs that surround it, per The Baltimore Banner. As the nearby suburbs have become overly expensive, Baltimore has thrived as homebuyers flock to the city for homes and jobs. Housing is 40% below the national average.

• Population 65+: 14.8%
• Monthly cost of living (with mortgage): $2,836
• Livability: 64

Augusts is not only a very affordable city (COL of 80), but one with historic charm and beauty and a popular golf scene. Augusta is also a large healthcare hub, centered around the Augusta University Medical Center and the Medical College of Georgia.

• Population 65+: 16.2%
• Monthly cost of living (with mortgage): $2,822
• Livability: 75

Not only does Macon have a very low cost of living (76.3 index), but The Augusta Chronicle has reported that the city also has great incentive programs and down payment assistance for housing.

• Population 65+: 14.4%
• Monthly cost of living (with mortgage): $2,750
• Livability: 64

The average home value in Columbus is just $156,479, making housing about 56% cheaper than the U.S. average. The cost of living is about 22% under the national bar.

Methodology: Data was sourced from the U.S. Census American Community Survey, Sperling’s BestPlaces, the Bureau of Labor Statistics Consumer Expenditure Survey, AreaVibes, Zillow and the Federal Reserve Economic Data. All data was collected on and is up to date as of Feb. 18, 2025.