At long last, you’re finally ready to retire in the Midwest. You’re looking for a new hometown with plenty of other retirees that will also allow you to live comfortably on a fixed income.
As of 2020, the median household income was $64,994, according to the U.S. Census Bureau. Whether you fall above or below this number, spending around $2,000 per month on living expenses in the Midwest is doable.
See: Best Cities To Retire on a Budget of $1,500 a Month
Find Out: 15 Cheap, Beautiful Places To Retire
GOBankingRates conducted a study to learn more about the cost of living and the size of the retiree population in several Midwestern cities. We then compared our findings with the U.S. average to determine which cities are best for retirement on a $2,000 per month budget.
A crucial benchmark that was considered, 16% of the population of the average U.S. city is 65 years old and up. Grocery expenses were another main focus, with the average annual cost in the U.S. totaling $4,942 — $411.83 per month. Of course, healthcare costs were also a major consideration, with the U.S. average totaling $5,177 per year — $431.42 annually.
It’s worth noting that Mishawaka, Indiana, had the lowest monthly healthcare costs and one of the lowest monthly grocery costs, but still didn’t make the top 10. Also interesting, Papillion, Nebraska, had the highest livability score of all 25 cities on the list — 93 — but served as the most expensive spot.
Ready to find out which Midwest cities are the best for retirees? Here’s a look at the top 10.
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