Best East Coast Cities To Retire on a Budget of $2,300 a Month

The average renter in America pays $1,405 per month. For retirees on a budget of $2,300, that leaves south of $900 for everything else. Life tends to be more expensive on the East Coast, but there are still a few cities accessible to seniors on a budget — as long as you’re aiming below the Mason-Dixon Line.

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To find the most affordable cities for retirees with proximity to the Atlantic Ocean, GOBankingRates used rent data from ApartmentList and cost-of-living data from the Bureau of Labor Statistics and Sperling’s Best.

When reading, keep these national averages in mind:

• Groceries: $4,204 per year or $350 per month
• Utilities: $3,783 per year or $315 per month
• Healthcare: $6,668 per year or $556 per month

Renters pay hundreds below the national average in even the more expensive cities on the ranking. Groceries are cheaper in all nine cities, too, but you can’t say the same for utilities and healthcare. Most important: Every city comes in well below the average combined monthly expenditure of $2,626.25. Since cost isn’t the only consideration, the study also considered livability scores from AreaVibes.

Keep reading to learn about the East Coast’s most affordable and livable cities for retirees.

• Monthly expenditure: $2,137
• Livability: 75

One of only three triple-digit rent cities to make the cut, Roanoke’s $887 average one-bedroom is the No. 2 cheapest on the list. Its $4,002 yearly grocery bill — $334 per month — is lower than any other city profiled here. At more than $607 per month, healthcare is on the pricey side, as is the $310 monthly average utility bill. At 16.5%, the 65-and-up population is a little above the national average of 16% — and Roanoke’s livability score is excellent.

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• Monthly expenditure: $2,241
• Livability: 83

With just 12.1% of the population aged 65 and older, Concord is one of the younger cities on the list. The average one-bedroom goes for $1,028, which isn’t great compared to the competition. The $343 monthly grocery bill is not the cheapest and neither is the $557 monthly tab for healthcare — and utilities are a middling $312 per month. The tradeoff is an exceptional livability score that represents the highest quality of living on this list.

• Monthly expenditure: $2,073
• Livability: 65

On the other end of the livability spectrum is Winston-Salem’s 65 — not the worst of the bunch, but below average. The tradeoff is the lowest rent among all nine cities — you won’t do better than $859 a month for a one-bedroom. With 14.5% of the population in the 65-and-over set, it’s younger than the country as a whole, and the city’s $333.52 monthly grocery bill is tied with Roanoke for No. 1 least expensive to the penny. At $304 per month, only one city’s utility bills are cheaper, although Winston-Salem’s $577 monthly healthcare cost is on the pricey side of the ranking.

• Monthly expenditure: $2,267
• Livability: 72

Greenville’s $1,049 monthly rent lands it a spot among the three priciest in this ranking, but it boasts an excellent livability score that’s one of the list’s three best. You’ll spend a pretty penny on groceries — at $349 per month, residents of all eight other cities average lower supermarket bills. About 14.4% of the population is 65 and up, which makes it a comparatively young city, and the $305 monthly utility bill is on the more affordable side. The $563 monthly healthcare bill, however, is not.

• Monthly expenditure: $2,015
• Livability: 66

The average monthly expenditure in Athens is the most affordable of all the states profiled here. Its $334 monthly grocery cost is second only to the two-way tie between Winston-Salem and Roanoke. The average monthly healthcare cost is $437, the cheapest by far — only two others are less than $500, but they’re both teetering on the border way up there around $497. At $309, utilities are in the middle of the pack. With just 10.9% of the population age 65 and up, it’s the youngest city on the list. The tradeoff for affordability in Athens is a livability score that’s just average.

• Monthly expenditure: $2,292
• Livability: 66

At $1,031 per month, the average rent in Greensboro is nothing to brag about, but it could be worse, too. It’s a relatively young city, with just 14.4% of residents age 65 and older. Its $624 monthly healthcare cost is dead last among all nine cities and one of only two over $600. To make up the difference, Greensboro boasts a first-place showing as well — at $301 per month, no city pays less for utilities. Its $336 average monthly grocery bill is among the list’s four cheapest. When the final tally is complete, Greensboro has the highest average monthly expenditure on the list.

• Monthly expenditure: $2,283
• Livability: 63

Savannah holds the unenviable distinction of having the highest average monthly rent in the ranking — $1,121 per month. On top of that, it’s dragged down by a below-average livability score that is the No. 2 lowest on this list. Groceries are expensive — $339 per month — and, at $325, utilities are the No. 3 priciest on the list. The saving grace is its $497 healthcare tab, which is the second-cheapest in the ranking and one of only three under $500.

• Monthly expenditure: 2,250
• Livability: 66

With just 11.3% of the population age 65 or over, Gainesville is the No. 2 youngest city in the ranking. Its $1,002 average monthly rent is on the less expensive side of the list, but nothing else is. Its livability score is just average and its $348 monthly grocery bill, $567 healthcare cost and $332 utility expenses all rank among the list’s priciest four cities.

• Monthly expenditure: $2,258
• Livability: 57

Only Savannah has a higher average monthly rent than Baltimore’s $1,078. With 14% of the population at least 65 years old, it’s a relatively young city. The good news is that Baltimore’s $498 average healthcare bill is one of only three on the list under $500. The same cannot be said for the city’s $338 average utility cost — the most expensive in the ranking — and the $343 the average resident pays for groceries, which is among the three priciest. Finally, there’s Baltimore’s poor livability score, which is the only one in the 50s and the worst on the list.

Methodology: For this study, GOBankingRates found the best East Coast cities to retire on a budget of $2,300 or less. GOBankingRates used ApartmentList April 2022 data to find every East Coast city in the U.S. that has (1) an average 2022 monthly rent of $1,150 or less for a one-bedroom apartment. GOBankingRates then used Sperling’s Best to find the cost-of-living index for every city on the list, looking at (2) grocery, (3) utilities and (4) healthcare index scores. Next, GOBankingRates used data from the Bureau of Labor Statistics’ 2020 Consumer Expenditure Survey to find the annual expenditure amount for both grocery (“food at home”) and healthcare costs for people aged 65 and older in order to find how much a person 65 and over would spend on groceries and healthcare in each city on a monthly basis.

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