25 Best Pennsylvania Cities To Retire on $2,000 a Month

October 15, 2024

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Pennsylvania has repeatedly been ranked among the best places to retire in the U.S. for myriad reasons. For many retirees, Pennsylvania has major appeal as a retirement destination because it’ doesn’t tax retirement funds, like pensions and Social Security. It also has a wide landscape that has the right mix of cities and towns based on your preferences and hobbies.

So where in the state can a retiree locate and live comfortably on a $2,000 budget? Here are 25 top Pennsylvania locations where you can retire on $2,000 a month.

Renovo

Population total: 1,081
Population 65-plus: 230
Percentage of population 65-plus: 21.3%
Household total: 533
Household median income: $28,750
Household average value May 2024: $62,795
Mortgage monthly average cost: $374
Expenditure monthly average cost: $1,702
Total monthly cost of living: $2,076
Total annual cost of living: $24,913
Total monthly cost of living after Social Security benefits (one person): $208.24
Total annual cost of living after Social Security benefits (one person): $23,045.03

Hermitage

Population total: 16,216
Population 65-plus: 4,372
Percentage of population 65-plus: 27.0%
Household total: 7,631
Household median income: $66,922
Household average value May 2024: $201,521
Mortgage monthly average cost: $1,201
Expenditure monthly average cost: $1,615
Total monthly cost of living: $2,815
Total annual cost of living: $33,781
Total monthly cost of living after Social Security benefits (one person): $947.24
Total annual cost of living after Social Security benefits (one person): $31,913.04

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North Belle Vernon

Population total: 1,598
Population 65-plus: 325
Percentage of population 65-plus: 20.3%
Household total: 750
Household median income: $51,293
Household average value May 2024: $133,365
Mortgage monthly average cost: $795
Expenditure monthly average cost: $1,667
Total monthly cost of living: $2,461
Total annual cost of living: $29,533
Total monthly cost of living after Social Security benefits (one person): $593.26
Total annual cost of living after Social Security benefits (one person): $27,665.26

Brackenridge

Population total: 3,214
Population 65-plus: 675
Percentage of population 65-plus: 21.0%
Household total: 1,551
Household median income: $49,388
Household average value May 2024: $114,500
Mortgage monthly average cost: $682
Expenditure monthly average cost: $1,690
Total monthly cost of living: $2,372
Total annual cost of living: $28,464
Total monthly cost of living after Social Security benefits (one person): $504.18
Total annual cost of living after Social Security benefits (one person): $26,596.35

Arnold

Population total: 4,778
Population 65-plus: 873
Percentage of population 65-plus: 18.3%
Household total: 2,107
Household median income: $38,150
Household average value May 2024: $77,462
Mortgage monthly average cost: $461
Expenditure monthly average cost: $1,651
Total monthly cost of living: $2,112
Total annual cost of living: $25,345
Total monthly cost of living after Social Security benefits (one person): $244.26
Total annual cost of living after Social Security benefits (one person): $23,477.24

Luzerne

Population total: 2,718
Population 65-plus: 619
Percentage of population 65-plus: 22.8%
Household total: 1,403
Household median income: $39,471
Household average value May 2024: $146,881
Mortgage monthly average cost: $875
Expenditure monthly average cost: $1,676
Total monthly cost of living: $2,551
Total annual cost of living: $30,616
Total monthly cost of living after Social Security benefits (one person): $683.47
Total annual cost of living after Social Security benefits (one person): $28,747.80

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Erie

Population total: 94,826
Population 65-plus: 14,731
Percentage of population 65-plus: 15.5%
Household total: 39,180
Household median income: $43,135
Household average value May 2024: $179,316
Mortgage monthly average cost: $1,068
Expenditure monthly average cost: $1,615
Total monthly cost of living: $2,683
Total annual cost of living: $32,199
Total monthly cost of living after Social Security benefits (one person): $815.43
Total annual cost of living after Social Security benefits (one person): $30,331.24

Port Carbon

Population total: 1,748
Population 65-plus: 416
Percentage of population 65-plus: 23.8%
Household total: 798
Household median income: $54,706
Household average value May 2024: $118,016
Mortgage monthly average cost: $703
Expenditure monthly average cost: $1,781
Total monthly cost of living: $2,484
Total annual cost of living: $29,808
Total monthly cost of living after Social Security benefits (one person): $616.19
Total annual cost of living after Social Security benefits (one person): $27,940.37

Hydetown

Population total: 647
Population 65-plus: 183
Percentage of population 65-plus: 28.3%
Household total: 286
Household median income: $45,179
Household average value May 2024: $112,739
Mortgage monthly average cost: $672
Expenditure monthly average cost: $1,684
Total monthly cost of living: $2,356
Total annual cost of living: $28,267
Total monthly cost of living after Social Security benefits (one person): $487.78
Total annual cost of living after Social Security benefits (one person): $26,339.45

Corry

Population total: 6,209
Population 65-plus: 1,508
Percentage of population 65-plus: 24.3%
Household total: 3,004
Household median income: $44,138
Household average value May 2024: $143,108
Mortgage monthly average cost: $853
Expenditure monthly average cost: $1,633
Total monthly cost of living: $2,485
Total annual cost of living: $29,823
Total monthly cost of living after Social Security benefits (one person): $617.41
Total annual cost of living after Social Security benefits (one person): $27,955.01

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Warren

Population total: 9,353
Population 65-plus: 1,986
Percentage of population 65-plus: 21.2%
Household total: 4,303
Household median income: $49,609
Household average value May 2024: $148,004
Mortgage monthly average cost: $882
Expenditure monthly average cost: $1,678
Total monthly cost of living: $2,560
Total annual cost of living: $30,718
Total monthly cost of living after Social Security benefits (one person): $692.03
Total annual cost of living after Social Security benefits (one person): $28,850.44

Franklin

Population total: 6,066
Population 65-plus: 1,323
Percentage of population 65-plus: 21.8%
Household total: 2,676
Household median income: $54,235
Household average value May 2024: $129,370
Mortgage monthly average cost: $771
Expenditure monthly average cost: $1,588
Total monthly cost of living: $2,359
Total annual cost of living: $28,308
Total monthly cost of living after Social Security benefits (one person): $491.16
Total annual cost of living after Social Security benefits (one person): $26,440.09

Altoona

Population total: 43,821
Population 65-plus: 7,628
Percentage of population 65-plus: 17.4%
Household total: 18,418
Household median income: $50,435
Household average value May 2024: $140,427
Mortgage monthly average cost: $837
Expenditure monthly average cost: $1,624
Total monthly cost of living: $2,461
Total annual cost of living: $29,527
Total monthly cost of living after Social Security benefits (one person): $592.75
Total annual cost of living after Social Security benefits (one person): $27,659.14

Monessen

Population total: 6,876
Population 65-plus: 1,602
Percentage of population 65-plus: 23.3%
Household total: 3,236
Household median income: $51,364
Household average value May 2024: $81,437
Mortgage monthly average cost: $485
Expenditure monthly average cost: $1,622
Total monthly cost of living: $2,107
Total annual cost of living: $25,290
Total monthly cost of living after Social Security benefits (one person): $239.64
Total annual cost of living after Social Security benefits (one person): $23,421.79

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Johnstown

Population total: 18,429
Population 65-plus: 3,599
Percentage of population 65-plus: 19.5%
Household total: 9,061
Household median income: $33,466
Household average value May 2024: $96,651
Mortgage monthly average cost: $576
Expenditure monthly average cost: $1,698
Total monthly cost of living: $2,274
Total annual cost of living: $27,288
Total monthly cost of living after Social Security benefits (one person): $406.14
Total annual cost of living after Social Security benefits (one person): $25,419.86

Oil City

Population total: 9,599
Population 65-plus: 1,882
Percentage of population 65-plus: 19.6%
Household total: 4,054
Household median income: $48,632
Household average value May 2024: $89,460
Mortgage monthly average cost: $533
Expenditure monthly average cost: $1,602
Total monthly cost of living: $2,135
Total annual cost of living: $25,614
Total monthly cost of living after Social Security benefits (one person): $266.71
Total annual cost of living after Social Security benefits (one person): $23,746.62

Farrell

Population total: 4,280
Population 65-plus: 996
Percentage of population 65-plus: 23.3%
Household total: 1,976
Household median income: $29,063
Household average value May 2024: $59,524
Mortgage monthly average cost: $355
Expenditure monthly average cost: $1,581
Total monthly cost of living: $1,936
Total annual cost of living: $23,226
Total monthly cost of living after Social Security benefits (one person): $67.69
Total annual cost of living after Social Security benefits (one person): $21,358.35

Meadville

Population total: 12,929
Population 65-plus: 2,107
Percentage of population 65-plus: 16.3%
Household total: 4,812
Household median income: $46,157
Household average value May 2024: $148,350
Mortgage monthly average cost: $884
Expenditure monthly average cost: $1,647
Total monthly cost of living: $2,531
Total annual cost of living: $30,366
Total monthly cost of living after Social Security benefits (one person): $662.70
Total annual cost of living after Social Security benefits (one person): $29,498.48

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Uniontown

Population total: 9,913
Population 65-plus: 2,092
Percentage of population 65-plus: 21.1%
Household total: 4,845
Household median income: $37,886
Household average value May 2024: $149,271
Mortgage monthly average cost: $889
Expenditure monthly average cost: $1,588
Total monthly cost of living: $2,477
Total annual cost of living: $29,728
Total monthly cost of living after Social Security benefits (one person): $609.47
Total annual cost of living after Social Security benefits (one person): $27,859.77

Punxsutawney

Population total: 5,730
Population 65-plus: 1,533
Percentage of population 65-plus: 26.8%
Household total: 2,578
Household median income: $43,160
Household average value May 2024: $109,479
Mortgage monthly average cost: $652
Expenditure monthly average cost: $1,718
Total monthly cost of living: $2,370
Total annual cost of living: $28,441
Total monthly cost of living after Social Security benefits (one person): $502.26
Total annual cost of living after Social Security benefits (one person): $26,573.25

Seneca

Population total: 911
Population 65-plus: 251
Percentage of population 65-plus: 27.6%
Household total: 426
Household median income: $55,357
Household average value May 2024: $161,498
Mortgage monthly average cost: $962
Expenditure monthly average cost: $1,626
Total monthly cost of living: $2,588
Total annual cost of living: $31,054
Total monthly cost of living after Social Security benefits (one person): $720.00
Total annual cost of living after Social Security benefits (one person): $29,186.12

New Castle

Population total: 21,863
Population 65-plus: 4,002
Percentage of population 65-plus: 18.3
Household total: 9,145
Household median income: $39,948
Household average value May 2024: $137,741
Mortgage monthly average cost: $821
Expenditure monthly average cost: $1,578
Total monthly cost of living: $2,399
Total annual cost of living: $28,788
Total monthly cost of living after Social Security benefits (one person): $531.17
Total annual cost of living after Social Security benefits (one person): $26,920.19

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Sharon

Population total: 13,143
Population 65-plus: 2,541
Percentage of population 65-plus: 19.3%
Household total: 6,144
Household median income: $40,089
Household average value May 2024: $62,642
Mortgage monthly average cost: $373
Expenditure monthly average cost: $1,570
Total monthly cost of living: $1,943
Total annual cost of living: $23,321
Total monthly cost of living after Social Security benefits (one person): $75.59
Total annual cost of living after Social Security benefits (one person): $21,453.17

Titusville

Population total: 5,262
Population 65-plus: 1,250
Percentage of population 65-plus: 23.8%
Household total: 2,340
Household median income: $36,071
Household average value May 2024: $103,403
Mortgage monthly average cost: $616
Expenditure monthly average cost: $1,680
Total monthly cost of living: $2,296
Total annual cost of living: $27,557
Total monthly cost of living after Social Security benefits (one person): $428.59
Total annual cost of living after Social Security benefits (one person): $25,689.25

Homestead

Population total: 2,905
Population 65-plus: 767
Percentage of population 65-plus: 26.4%
Household total: 1,264
Household median income: $29,306
Household average value May 2024: $82,797
Mortgage monthly average cost: $493
Expenditure monthly average cost: $1,745
Total monthly cost of living: $2,238
Total annual cost of living: $26,854
Total monthly cost of living after Social Security benefits (one person): $370.03
Total annual cost of living after Social Security benefits (one person): $24,986.46

Photo Disclaimer: Please note photos are for representational purposes only. As a result, some of the photos might not reflect the locations listed in this article.

Methodology: For this study, GOBankingRates found the best Pennsylvania cities to retire for $2,000 a month. First, GOBankingRates found cities in Pennsylvania along with their total population, population aged 65 and up, total households, and household median income as sourced from the U.S. Census American Community Survey. To qualify for this study, each city had to have data available for all sources. For each city, a number of factors were found, including cost of living indexes as sourced from Sperling’s BestPlaces, and by using the national average expenditure cost for retired residents, as sourced from the Bureau of Labor Statistics 2022 Consumer Expenditure Survey, the average expenditure cost for each city can be calculated. The average mortgage cost can be calculated by using the Zillow Home Value Index to find the average single-family home value from May 2024. By assuming a 10% down payment and using the national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated for each city. The mortgage and expenditure costs are used to find the average monthly total cost of living. The livability index was sourced from AreaVibes for each city. Three cities qualify for this study without Social Security benefits sorted to show the highest to lowest livability. The average full Social Security benefits for one person were sourced from the Social Security Administration. The monthly total cost of living after Social Security benefits was calculated. The percentage of the population aged 65 and over was scored and weighted at 1.00, the monthly average expenditure cost was scored and weighted at 1.50, the average mortgage cost was scored and weighted at 1.50, and the livability index was scored and weighted at 1.25. All the scores were summed and sorted to show the best places to retire on $2,000 a month after Social Security. All data was collected on and is up to date as of July 12, 2024.